Digital Securities Exchange (DSX)

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Digital Securities Exchange (DSX) is a UK cryptocurrency exchange for some of the most popular crypto currencies (Bitcoin, Litecoin, Ethereum, and Bitcoin Cash). It also accepts real money and supports crypto-to-fiat transfers. A certain minimum investment is required by DSX, which is rather symbolic, and the exchange does not provide leverage.

In order to start trading on this exchange, you should not only register a DSX account, and also undergo account verification. So, no anonymous trading allowed at DSX, which partly defies the purpose of Bitcoin. Most cryptocurrency exchanges allow non-verified account holders to trade up to certain volumes. UK exchange Bitlish is one of them, where verified and anonymous traders are charged differently.

The Company. Security of funds

London-based DSX crypto-exchange was launched in december, 2014. The company acts as a EMD Agent - an authorised representative of a firm regulated by Financial Conduct Authority (FCA). As a payment services agent of ePayments Systems Limited, DSX is registered with FCA and its Financial Ombuds. #moderation man service might consider a dispute with this firm, however it cannot be determined whether it would be covered by the Financial Services Compensation Scheme (FSCS). Nonetheless, DSX's status as a registered agent of ePayments Systems adds a certain layer of credibility to the exchange, as most such venues, including UK-based ones, are not registered or licensed by any authority.

This makes DSX a direct contender to CEX.IO, another UK cryptocurrency exchange that is registered as a payment provider by FCA. If you are familiar with forex trading, you probably know what are the advantages of dealing with FCA-regulated brokers: these are subjected to strict rules, and their clients are covered by the FSCS up to £50,000.

There is no information about any major hacks of DSX, so the assumption is that the exchange has not been subjected to such yet. There don't seem to be any user reviews on DSX either. Except only one, that was rather negative, saying that it is almost impossible to understand how the quotes are formed on this platform. That being said, there is a strange explanation on the exchange’s execution in DSX Trading Manual. According to the text, the company processes all orders clients place by placing an identical order (referred to as "Back-to-Back Order") on the DSX (or, in some circumstances, on other trading platforms). Furthermore, in exceptional circumstances, the company says it might obtain prices from third party sources.

Trading conditions

Trading instruments (cryptocurrencies)

Several coins are available for trading at DSX, including BTC, BCC, LTC, ETH, and BTG. More importantly, there are also two fiat currencies (EUR, GBP & USD) against which the above cryptocurrencies can be traded. The most commonly traded pair at DSX is BTC/USD.

Minimum initial deposit

DSX has set the following minimum investment amounts for deposits in cryptocurrencies:

-Minimum 0.00000001 BTC
-Minimum 0.00000001 BCC
-Minimum 0.00000001 LTC
-Minimum 0.01 ETH.

As regards initial investments in Fiat currencies, the minimun amounts are 1.00 USD, 1.00 EUR or 1.00 RUB

Leverage

As we have already mentioned, margin trading is not available at DSX and most crypto-exchanges don’t offer this kind of service. Probably it is because the volatile nature of digital coins, to which leverage would add additional risk.

Fees

This exchange has a teared commission structure designed to reward high volume traders.

If you are not a high-volume trader, however, the fees applicable are slightly above the average – 0.20% for market makers and 0.35% for market takers. Many crypto exchanges do not charge market “makers” as those are the people who place pending orders and provide liquidity. For example, market makers are not charged at Bitlish, while verified takers pay a fee of 0.2%.

On the other hand, referral programme participants also get to trade with reduced fees.
 
Trading platform

Trading at DSX is done on a user-friendly web-based platform, as is most often the case with crypto-exchanges. Such platforms can be accessed from any device, without the need to install any additional software, but on the other hand, trading activity is limited to a single screen.

In addition to its basic options to buy and sell, the platform offers price charts from TradingView, as well as some analysis tools, which is a true advantage.

Methods of payment

DSX offers variety of methods of payments the company provides. The exchange allows clients to transfer funds with Bank transfers, including SEPA (USD, EUR, RUB fiat currencies supported), ePayments Wallet (USD, EUR, RUB) and Digital Currencies (BTC, BCC, LTC, ETH).

Deposits to DSX are free, while withdrawals are charged.

Furthermore, DSX traders worldwide can instantly access their funds with ePayments card – a pre-paid MasterCard offered by the payment processor, which can also be used to withdraw cash from ATMs.

Conclusion

Digital Securities Exchange is a London-based crypto currency exchange that works in partnership with ePayments - an Electronic Money Institution, authorised by FCA. Apart from this, DSX supports several fiat currencies, and offers variety of convenient payment methods, including SEPA and a prepaid card. However, there are no exotic altcoins available for trade at this exchange and it is not clear how the quotes are formed on this platform.