eToroX Exchange Rating Report September 2020 Find, Create, and Spread Value in Blockchain. TokenI TokenInsight Research Executive Summary RESEARCH ADVANTAGES eToroX exchange has a relatively solid team and ecosystem construction. Core team members backgrounds are professional and they have more than 8 years of experience in the !nance and blockchain industry; eToroX exchange has complete security measures, and is under a strict regulation with a license from Gibraltar; eToroX is a part of eToro Group, which has been operating 13 years in the traditional !nancial industry and has a good reputation. eToroXs fee schedule is unique and a default 0.05% fee structure is attractive to low-volume trading users. CHALLENGES eToroXs liquidity can be improved for some trading pairs, and its user base needs to be expanded to bring more liquidity; Some features such as drawing tools can be added to enhance the design of the trading page and improve the users trading experience. OUTLOOKS eToroX is strictly regulated under the GFSC, providing a market advantage in compliance and regulation. Based on its complete security measures and eToros reputation, eToroX would grow to be a popular crypto-assets trading platform which is known for its trading security if more users are joining in. SUMMARY In summary, TokenInsight gave eToroX exchange a rating of BB with a stable outlook. 2Content RESEARCH 3 Executive Summary 2 Introduction 4 Team Free for USD via Signature Bank. $10,000/day without the need of approval. Coinbase Free for digital assets and ACH withdrawal; $25 for wire withdrawal; $0.15 for SEPA withdrawal and 1 for Swift withdrawal. $25,000/day by default. Binance Varied by the types of currencies. $6.98 for BUSD and USDT; 0.0005 BTC for BTC; Free for USD via ACH and wire but 3.4% via debit card. $5,000/day for basic veri!cation users $1,000,000/day for advanced veri!cation users $5,000/day via ACH and $7,500,000/day via wire for !at account veri!cation users. Kraken Varied by the types of currencies. 0.0005 BTC for BTC; 0.5 USDT for a minimum of 1 USDT; A minimum of $4 for USD withdrawal. Starter users: $5,000/day or 0 for crypto and !at Intermediate users: $500,000/day or $100,000/ day for crypto and !at respectively Pro users: $10,000,000/day for crypto and !at RESEARCH 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% $10b Bis t amp e T or o X 0.00% 0.06% 0.12% 0.18% 0.24% 0.30% $10m Kr ak enMak er Kr ak enT ak er e T or oX Taker Fees 5 bps Maker Fees 5 bps Or Inverted Model eToroXs fee model Source: eToroX, TokenInsight, 2020.09.23 Trading Fees Unlike most of the other exchanges that adopt a tiers fee model, eToroX charges a default 0.05% fees for both maker and taker without a tiers system when trading volume is less than $1 million. It also adopts the inverted maker-taker model for its fees. Unlike other exchanges charging the taker more than the maker, the model pays a rebate of 0.01% for takers who trade more than one million USD monthly, or in other words, charges a lower fee for removing liquidity from the market. Comparison of tiered fees approach Source: Bitstamp, Kraken FIAT & FEE COMPARISON 14 Compared with other major exchanges who use tiers approaches, eToroX offers a !xed fee package with some #exibility. The 0.05% trading fee for both maker and taker is low and competitive among regulated exchanges when the trading volume is less than $1 million. For example, as the !gures shown in the above, both Bitstamp and Kraken charge more than 0.05% when trading volume is below $1 million. For users with large trading volume, the 0.01% rebate for takers will be applied and thus the trading fees are also lower than the industry average. But there are still some exchanges like Bitstamp and Kraken that offer no maker fee for users who have really high monthly transaction volume. However, according to eToroX, they are also #exible and open to negotiation about fees for commercial needs. Such negotiation strategy matches the needs of eToroXs target audiences who are professional and corporation traders. Overall, the fee schedule provided by eToroX is attractive to users with relatively lower monthly transaction volume, and the $10,000/day withdrawal limit can satisfy most of the new individual users. RESEARCH USER EXPERIENCE 15 eToroX constantly makes updates on its Medium platform, Reddit, Twitter, LinkedIn and Telegram to disclose major achievements, news, and other posts to promote its services and educate the market. It currently provides a yearly report to summarize the periodic progress, compared to other exchanges that provide monthly or quarterly reports, the frequency of such periodic updates is lower. In addition, users can access some information for eToroX exclusively from eToros news and analysis page by clicking the tags or topics that show the keywords of crypto exchange. In terms of customer service, users can get support from eToroX by email. eToroX will respond with an automatic reply immediately but there is no indication of when will users get a formal reply. However, eToroX does provide a separate support page that educates users of the basic knowledge of the platform and provides information such as the withdrawal of crypto assets, the deposit of !at currency, and other transaction process operations, so that users can familiarize themselves with the trading operations. eToroXs FAQ page Source: eToroX, TokenInsight In terms of language selection, the eToroX trading platform supports 7 languages including English, Russian, French, Chinese, etc, providing a reasonable multilingual support RESEARCH USER EXPERIENCE 16 Trading Operation eToroX trading dashboard provides comprehensive trading information. Different from some other exchanges like Binance and Coinbase, the instruments list, market view, and candle chart view of eToroX are all displayed on one page. There are 7 types of Candle Charts including bars, candles, lines, etc, and the Candle Charts can be viewed in minutes, hours, days, and weeks, totaling 12 options. The number of technical indicators is adequate, however, the drop-down list of indicators always returns to show the !rst 6 options when scrolling down. In addition, eToroX provides a relatively user-friendly function called ”compare” to allow users to place the price of multiple pairs in one trading page. However, the drawing tools are not available. eToroXs compare function Source: eToroX, TokenInsight Meanwhile, when using the trading page, users can easily switch between the trading dashboard, the fund page and the support page by clicking respective buttons. The fund page lists all the crypto assets available on the platform, allowing users to easily check the balance, make deposit or withdrawal. Overall, the platform covers a variety of functions in terms of trading operation but there is still room for improvements on actual user experience