Bitfinex review
Bitfinex is a centralized cryptocurrency exchange founded in 2012 by Raphael Nicolle and operated by iFinex Inc, a company registered in the British Virgin Islands. It offers spot, margin and derivatives trading, P2P funding, staking, tokenized securities and OTC services, and moved to zero trading fees across most products in December 2025. Bitfinex holds no license from a top-tier regulator: it appears on the UK FCA's warning list and instead relies on narrower licenses, including a Digital Asset Service Provider registration from El Salvador's CNAD and registration with Kazakhstan's AFSA. The exchange is inseparable from its 2016 hack, in which 119,756 bitcoin were stolen, and from its 2021 settlements with the CFTC and New York Attorney General over Tether-related disclosures.
Bitfinex key facts
- Website: www.bitfinex.com
- Category: Centralized cryptocurrency exchange (CEX)
- Founded: 2012, by Raphael Nicolle
- Headquarters: British Virgin Islands (iFinex Inc registration); no fixed operational HQ
- Regulatory status: No tier-1 license; licensed in El Salvador and Kazakhstan; on the UK FCA warning list
- Products: Spot, margin, derivatives, P2P funding/lending, staking, tokenized securities, OTC
- Trading fees: 0% maker/taker across spot, margin, derivatives and OTC since December 2025
- Supported assets: 350+ markets
- Notable regulatory history: 2016 hack of 119,756 BTC; 2021 CFTC and NY Attorney General settlements
- FYI Score: 79.2/100 (ranked #24 of the 48 crypto exchanges we track)
Trading fees
- Spot, margin, derivatives, securities and OTC trading moved to 0% maker/taker fees in December 2025, replacing a prior tiered schedule of roughly 0.10% maker / 0.20% taker for monthly volumes under $500K
- $5 monthly inactivity fee on dormant accounts
- Deposits are free; withdrawals are subject to blockchain network fees
Products & supported assets
- Spot trading across 350+ markets, with pairs quoted in USD, EUR, GBP and JPY alongside crypto bases
- Margin trading and P2P funding/lending, plus Bitfinex Borrow for collateralized loans
- Perpetual futures and options via an integration with Thalex, and tokenized securities through Bitfinex Securities Ltd
- Staking on roughly 10 supported coins, plus demo/paper trading accounts
Security & regulation
- Operated by iFinex Inc, registered in the British Virgin Islands, with no license from a top-tier regulator such as the US, UK or EU
- Holds a Digital Asset Service Provider license from El Salvador's CNAD (obtained May 2026) and is registered with Kazakhstan's Astana Financial Services Authority (AFSA)
- Appears on the UK FCA's consumer warning list and is not authorized to provide regulated services to UK customers
- In August 2016, hackers stole 119,756 BTC (about $72M at the time); every account absorbed a 36% balance cut, later reimbursed in full via BFX tokens by April 2017
- Paid $18.5M to the New York Attorney General in February 2021 over misleading statements about Tether's reserve backing and undisclosed related-party transfers, plus a separate $1.5M CFTC fine the same year
Platforms & tools
- Proprietary web trading platform with multi-timeframe charting aimed at active traders
- Desktop access via a Quantower integration; iOS and Android mobile apps
- API access for algorithmic and automated trading strategies
Markets
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Who Bitfinex is for
Bitfinex suits experienced, self-directed traders comfortable with an offshore platform, margin and leveraged products, and API-driven strategies. Beginners or anyone prioritizing strong regulatory protection should note the exchange holds no top-tier license and is not authorized to serve UK customers.
Pros
- Among the longest-running crypto exchanges still operating, with deep spot and margin liquidity
- Zero trading fees across spot, margin, derivatives and OTC as of December 2025
- Broad product range in one account: margin funding, staking, tokenized securities, and derivatives via Thalex
- Advanced charting and API tooling aimed at active and algorithmic traders
Cons
- No license from a top-tier regulator; registered offshore in the British Virgin Islands and listed on the FCA's consumer warning list
- Suffered one of the largest exchange hacks in crypto history in August 2016 (119,756 BTC, about $72M), cutting every user's balance by 36% before full reimbursement
- Paid $18.5M to the New York Attorney General in 2021 over misleading statements tied to Tether, plus a separate CFTC fine
- Customer support response times cited by reviewers as slow (around 12 hours via email), with no live phone support
- Steeper learning curve than beginner-oriented exchanges
Bitfinex FAQ
Is Bitfinex regulated?
No tier-1 regulator oversees Bitfinex directly. It is operated by iFinex Inc, registered in the British Virgin Islands, and holds narrower licenses including a Digital Asset Service Provider registration from El Salvador's CNAD (from May 2026) and registration with Kazakhstan's AFSA. It appears on the UK FCA's warning list and is not authorized to serve UK retail customers.
What happened in the 2016 Bitfinex hack?
In August 2016, hackers exploited a security lapse, including multiple signing keys stored on a single device, to steal 119,756 BTC, worth about $72M at the time. Every account balance was cut by 36% to spread the loss, and users were repaid in full via BFX tokens by April 2017. US authorities later charged, and in 2023-2024 convicted, a New York couple for laundering the stolen funds.
What are Bitfinex's trading fees?
As of December 2025, Bitfinex charges 0% maker and taker fees on spot, margin, derivatives, securities and OTC trading, a change from its prior tiered schedule of roughly 0.10% maker / 0.20% taker for smaller monthly volumes. A $5 monthly inactivity fee applies to dormant accounts.
Is Bitfinex available in the US and UK?
Bitfinex is not authorized to offer regulated trading services to UK consumers and appears on the FCA's consumer warning list. The platform has also historically restricted access for US persons; prospective users should verify current terms for their jurisdiction before signing up.
Compare Bitfinex with other crypto exchanges
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