Nexo Pro Review: Trading Exchange With 10 Liquidity Providers & Low Fees
As one of the pioneers in the future digital financial system where all assets are tokenized on-chain and people have efficient ways to transfer or manage their funds, Nexo has introduced a range of seamless and secure products.
One of the newly launched products is an all-in-one platform, called Nexo Pro. It is a crypto trading platform for traders that want to go beyond the swap functionality of the Nexo Exchange.
Nexo Pro is made up of the 3,000+ order books from Nexo Exchange, many leading companies like Binance, Huobi, and FTX, 3rd party providers, and selected market makers.
Nexo Pro allows its users to place advanced orders, execute automated strategies, trade with margin, and open futures contracts. The platform automatically finds the best order execution and processes it instantly with minimum slippage.
The platform aggregates liquidity from 10+ providers including leading exchanges to offer the best price possible for all trades.
Read on for our full review…
What Nexo Pro Features
Leveraging Nexo’s years of experience in FinTech along with the power of the edge-cutting blockchain technology, Nexo, one of the leading lending digital finance institutions, is bringing professional financial services to digital assets in Nexo Pro.
Here are some of the features the platform offers:
Advanced Orders
Nexo Pro features many new tools for institutional-level trading. This feature allows you to place market, limit, stop loss and take profit orders on over 400 crypto pairs.
As mentioned, Nexo Pro aggregates liquidity from crypto exchanges like Binance, Coinbase Exchange, Kraken, and FTX, as well as leading market makers and 3rd party providers.
This also means the trading crypto platform collects buy and sell orders from 3000+ order books and adds them to it. Thus, you will have an opportunity to buy and sell assets from 400+ aggregated liquidity pools, at the best possible price on the market.
Users can move their funds in and out of Nexo Pro as many times as they want and free of charge. In simple words, you can place a limit order at your target price, wait until it gets filled, and then move the funds to your Savings Wallet where you earn interest.
Margin Trading
Users can execute short and long-margin trades with up to 5x leverage with just a single button. The crypto in their portfolio will be used as collateral to receive funds, moreover, they can repay whenever they want.
The amount of leverage available will depend on the notional value of your position. In that, smaller positions can use higher leverage with the maximum being 5x.
The Nexo Pro dashboard offers you an overview of where you can check your outstanding loan, margin level, and margin call threshold. You will receive automated reminders prompting you to add more collateral when the threshold is hit.
Strategy Trading
With Nexo Pro, you are able to set up out-of-the-box strategies like TWAP to automate your probability of turning a profit. This feature allows you to execute orders at a price close to the time-weighted average price within a period of your choice.
Not only that, but you also have access to spot and futures markets from the same platform that allows you to enter other trades.
Perpetual Futures
Futures contracts on Nexo Pro are settled in USDT with up to 2x leverage. You not only can use futures to gain exposure to assets without buying them, but also can trade perpetual contracts even on assets that can’t be found on the spot trading or regular Nexo Exchange, such as GMT, ALGO, WAVES, or XTZ.
Trading Fees
A user’s fee tier is based upon the total USD trading volume over a trailing 30-day period, and the total volume does not include trading Stable Pairs. Thus, the higher it gets, the lower users’ fees become.
In addition, Nexo Pro uses a maker-taker fee model for determining its trading fees. This means orders that provide liquidity (maker orders) are charged differently than orders that take liquidity (taker orders).
Fees are not calculated based on the tier you would be in after a trade is completed but are based on the current pricing tiers you are in when the order is placed.
When a user places an order at the market price that gets filled immediately, he will be considered a taker and will have to pay a fee between 0.02% and 0.10%.
Also, when a user placed an order which is not immediately matched by an existing order, that order is placed on the order book. If another customer places an order that matches his, that user will be considered the maker and will pay a fee between 0.00% and 0.10%.
At the present, to celebrate the launch of Nexo Pro, fee rates on Nexo Pro are 50% lower until the end of November 2022.
Spot Trading Fees
| Pricing Tier | Taker | Maker |
|---|---|---|
| Up to $10K | 0.10% | 0.10% |
| $10K – $50K | 0.09% | 0.09% |
| $50K – $100K | 0.08% | 0.07% |
| $100K – $1M | 0.07% | 0.05% |
| $1M – $10M | 0.06% | 0.03% |
| $10M – $100M | 0.05% | 0.01% |
| $100M – $200M | 0.04% | 0.00% |
| $200M – $500M | 0.03% | 0.00% |
| $500M+ | 0.02% | 0.00% |
Futures Trading Fees
| Pricing Tier | Taker | Maker |
|---|---|---|
| Up to $150K | 0.0300% | SOON |
| $150K – $250K | 0.0275% | SOON |
| $250K – $500K | 0.0250% | SOON |
| $500K – $5M | 0.0225% | SOON |
| $5M – $50M | 0.0200% | SOON |
| $50M – $500M | 0.0187% | SOON |
| $500M – $1B | 0.0175% | SOON |
| $1B – $2.5B | 0.0162% | SOON |
| $2.5B+ | 0.0150% | SOON |
How to Get Started with Nexo Pro?
As Nexo Pro is available on the Nexo web platform, first of all, you must already be a Nexo user. Use your existing account and transfer funds from your Savings Wallet by clicking on “Deposit” to transfer crypto from your Nexo account to Nexo Pro.
To fund your Wallet, use your credit or debit card to buy crypto. You can also do a EUR, GBP, or USD transfer from your bank account.
Then, you will be able to trade crypto on Nexo Pro as well as move funds in and out of Nexo Pro as often as you like with no fees.
Nexo Pro Infrastructure
As a part of a trusted lending institution in the digital finance industry, Nexo, Nexo Pro is secured by the top-tier infrastructure. Therefore, all custodial assets are insured for $750M through custody partners such as BitGo, Ledger Vault, and Bakkt, among others.
In addition, the platform also provides full transparency by working with Armanino LLP to deliver real-time attestation over the company’s custodial holdings for you to check at any time.
The Nexo platform is also designed with an industry-leading security infrastructure to ensure maximum protection of users’ assets at all times.
As mentioned, you will get an affordable price from all 10+ liquidity providers because its order books are made up of the total aggregated liquidity from leading exchanges, market makers, and 3rd party providers.
With Nexo Pro, you will also be able to make instant execution with no price slippage.
Conclusion
On the way to creating the financial services of tomorrow, Nexo uses efficiency, transparency, and inclusivity to be seamless, secure, and instant.
To provide users with a complete suite for everything crypto, Nexo develops features that individuals with institutional-level trading work at the same platform where they earn, borrow, and spend their digital assets.
Nexo Pro will also be integrated with more tools and platforms in the future.
The trading crypto platform is working alongside other Nexo products, including the Earn Crypto Interest suite, Instant Crypto Credit Lines, and Nexo Card to make it easy to switch from earning, borrowing, and spending to trading without any cost.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Nicholas Say, @Khareem Sudlow