CEX.IO Review: Got there in the end | ICORating

Got there in the end

2 Accepted
I was one of the many people who were caught up in the problems that CEX had with their 3rd party USD & GBP wire partner. I asked for the payment on 11th December and received it on the 28th January, which really isn't acceptable. The whole process took 7 weeks, yes I got my money in the end, but there were days where I was convinced that I was never going to see my money and I felt scammed, I appreciate that they have had an increase in business, but communication was slow, poor and vague.There is a group of over 100 people on facebook who were all bought together because they were missing CEX withdrawals, at one point the total owed was over a million dollars. Some have now received funds but not all.My advice would be that if you plan to trade and withdraw crypto or withdraw small amounts of cash to a credit card then carry on, but if you intend to try and withdraw larger amounts of GBP or USD with a wire, leave it for now until they've got it sorted. I have had greater success with Kraken, I have made 3 wire withdrawals with them in the same time that this saga has played out. The business is supposedly based in London, but I think it really isn't, they have an address in a shared office in Canary Wharf, maybe to give an image of professionalism. I think that there is a lot based in the Ukraine and the banking partner seems to be a Polish bank, I don't know why someone would want to hide being based in Ukraine, but these guys seem to.I got a lot more progress with my case once I contacted Vitaly, the CEO, through his facebook account. I understand that the explosion of demand has had a massive effect on the speeds these guys can deal with everything. But a few honest group emails to keep everyone posted would mean that my blood pressure would be a lot healthier that what it is now!I would like to point out that the USD CEX wire transfer never worked, the USD funds were returned to my account and then I exchanged my USD for ETH and withdrew it all to Kraken, before selling all the ETH for USD again and arranging a wire withdrawal from Kraken. However CEX still charged me $100 for the wire withdrawal that they never actually provided..I don't think this is a scam, but they are having a tough time with some issues right now, namely scaling and organisation.I would maybe use them in the future, but I would read a lot of reviews first.
Nick Spann
29 Jan 2018 by Trustpilot

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