I've been in the crypto for a long time and started trading about a year ago. Usually I do not complain to much or search for other options. But this time I really wanted to share my experiences with using HitBTC (especially the last couple months) and wonder whether other traders experience the same thing...
1.
With some alt coins the 0.1% trade fee does not apply. This also blocks you from inserting trades into the platform.
https://hitbtc.zendesk.com/attachments/token/7lzBWbtDaTm4SShrOs0OCMFMr/?name=Capture.PNG
When I asked this to support I got this really vague answer:
Quote
Dear Trader,
Thank you for reaching out!
When purchasing a large quantity of cheap currency, the displayed fee can exceed 0.1%.
The fee from each possible trade is being rounded to the nearest computable value. The sum of this values is shown in the interface.
But this does not mean that this amount will really be written off from user’s account.
This happens as for the worst possible scenario, this order will get executed in a bunch of trades, each of which will have a minimum size. And the total fee from all these trades will have a frightening size.
However, this scenario is barely achievable, so fees are always less than the amount specified.
Hope this answer was useful for you! And please don't hesitate to get back to us in case you require any other assistance.
Thank you for reaching out!
When purchasing a large quantity of cheap currency, the displayed fee can exceed 0.1%.
The fee from each possible trade is being rounded to the nearest computable value. The sum of this values is shown in the interface.
But this does not mean that this amount will really be written off from user’s account.
This happens as for the worst possible scenario, this order will get executed in a bunch of trades, each of which will have a minimum size. And the total fee from all these trades will have a frightening size.
However, this scenario is barely achievable, so fees are always less than the amount specified.
Hope this answer was useful for you! And please don't hesitate to get back to us in case you require any other assistance.
2.
Withdrawals sometimes arrive very late. While other exchanges manage to do withdrawals within couple of minutes (erc20 tokens), sometimes I'm literally waiting days for a token to arrive if I withdraw from HitBTC.
3.
Withdrawal fees. They have literally the highest withdrawal fees of all the exchanges I know and never seem to be corrected according the current value. Withdrawal fee of 270 TRX (~$17.58) or 574 CND ($144.45) is just too high and absurd. And even looking at the amount of gas they use (most of the time 40 gwei) this cannot be justified.
4.
Deposit fees... Seriously??? Ok, fine, but a deposit fee of 613 TRX (~$40.52) or 551 CND ($137.75) is absurd. There is no other word for it. Way to go scaring (new/small) trades away from your platform...
5. Wallets going in maintenance mode for no reason. Currently ICX deposits/withdrawals are disabled. Why? What makes it so different from other ERC-20 tokens?
All-in-all this discouraged me from doing (big) trades on HitBTC. I really hope that they will fix these issues quickly or I'm afraid there will be no one left to trade on that platform again...