Reviews of Huobi are mostly negative, mentioning issues with fund withdrawals and shortcomings in functionality.
Generated by AI based on published reviews and public data. For reference only and may contain inaccuracies.
Review Time
I won't fully criticize the exchange, but I'm not very fond of it. It was closed in China and now operates from Singapore, where the regulations are much more lenient. Nevertheless, the exchange is not a scam — that's a fact; it has been around for many years and has established itself as a reliable trading platform. At least in my experience, there have been no signs of fraud. However, I do have some complaints, and the main one is the high fees. On the website, they are conditionally divided into maker and taker fees, but it's unclear why this division exists when the fee is the same for everyone — 0.2%. A few years ago, this was acceptable, then it became average, and now, with the emergence of competing exchanges with fees of 0-0.1% (some even offer 0.075% for makers), it's no longer the most attractive offer on the market. The types of orders are limited, only standard ones are available — market and limit orders. I won't even mention iceberg orders and FOKs, although at least they added stop losses. Verification also poses certain difficulties — it's hard to get through, and on Asian platforms, it's practically impossible. However, perhaps the requirements will ease now, as they are focusing not only on the local market but also on the international one. On the positive side, there is support for the Russian language. The exchange is multilingual and offers translations in 9 languages, but half of them are hieroglyphs, so the emphasis is still on the Asian market. Liquidity is fine, especially for Bitcoin. Reliability is also at a good level, with both reputation and the storage of assets in cold wallets playing a role.
If before it was relatively comfortable to trade on Huobi, after the rebranding the situation has only worsened. They reduced the number of order types and changed the tax policy for trading. Unfortunately, all the changes are negative. Trading on the exchange is possible, but if you compare the conditions from a year ago to now, the difference is obvious. I switched to other major players because they have more favorable conditions and more opportunities. By the way, the platform is now multi-platform, with apps for smartphones. In terms of usability, there are no significant advantages, it has the same shortcomings as other apps. The only thing I liked is the localization.
There is nothing remarkable about Huobi.pro. It's just a large exchange from Asia with high trading volumes and a good number of active traders, which ensures a constant refresh of the order book and high liquidity. The exchange was founded in 2013, and during this time it has managed to gather a large audience. Currently, it seems to rank sixth in the world by trading volume. This is essentially its only advantage. The platform offers a wide listing, and there have been no issues with tokens. You can find popular coins like Bitcoin, Ethereum, Bitcoin Cash, and others, as well as "innovative" projects like Neo, Quantum, Nemcoin, and so on. Notably, trading in altcoins is as active as in major tokens (there is a difference, but the volume is still good). The exchange has only three markets, but they are leading ones. As a fiat equivalent, Tether is available, with rates pegged, so trading resembles cross-currency pairs. Trade execution is organized at a high level considering user load: there are no delays, and all trades are executed instantly. Overall, the exchange leaves a positive impression, and if you plan to diversify your trading across different platforms, it's worth adding Huobi.pro to your whitelist due to its high liquidity.
Among the positive aspects, it's worth noting the support for multiple languages, including Russian, the ability to trade without account verification, good security, and a decent reputation for the exchange. A wide range of cryptocurrencies is available, and there is also the option to work with borrowed funds. As for the drawbacks, the Russian translation is poorly done: many pages are not translated at all, and some look like they were translated using Google. The exchange does not work with fiat; deposits and withdrawals are only possible in tokens, and trading pairs are mostly cryptocurrencies, except for USDT. There is no affiliate program, and I didn't notice any loyalty towards traders: the commission based on turnover does not decrease, and I have to compete with small traders despite my good volumes. The functionality also leaves much to be desired: there are no stop orders, and the types of trades are quite primitive for an exchange of this level. The exchange does not stand out in any special way. The quotes are at an average level, and being large, the exchange significantly influences the formation of the market price of tokens, so it is unlikely to be suitable for arbitrage, except for quick trades. Alongside trading, you can invest in ICOs, including the local token – NT. It's hard to judge the viability of such investments right now: on one hand, many exchanges use this method to attract capital, and this one is no exception (even though it is already large), on the other hand, the volumes of the platform make investments promising. I invested a little, but mostly I am focused on trading.
Huobi Pro is an ordinary crypto exchange, and its functionality does not allow you to rely solely on it without using other platforms and services. This is quite strange considering its large size, as they could have expanded their capabilities. In particular, I am disappointed by the lack of fiat options: to withdraw funds, I have to use exchange services (thankfully, there is BestChange, which helps track optimal rates), and this comes with a conversion fee in percentages. For example, other exchanges that work with banks offer SEPA transfers for euro withdrawals, where the fee is only 5 euros. However, with exchange services, you can sometimes lose more than 2% of the amount, making it unprofitable to withdraw equivalents over 250 euros. As for the commission itself, other platforms lower the order fee depending on the side of the transaction and the trader's turnover. Here, the fee is fixed at 0.2%. There are not many trades, and the list of exchanges is not that extensive; in terms of the number of altcoins, Huobi Pro falls behind platforms like Poloniex or Exmo. On the bright side, there are standard tools for analysis – price and depth charts. You can't conduct complex technical analysis without integrating third-party programs, but even what is available is already quite good.
Yesterday, I transferred over 2000 XEM to my account on the Huobi exchange. The transaction was confirmed within three minutes, I checked it on the blockchain, but there was no money in my account! That is, the funds were deducted from one account in the NEM network and were supposed to arrive in my wallet on the exchange, but Huobi shows that the account is empty. What an amazing exchange! Later, I learned that they have problems with NEM, but why then leave the account numbers open for deposits? I want to add information so that you don't fall victim to a Chinese scam. In response to my inquiry, I received the following message: "Due to issues related to the NEM.io Foundation Ltd community, Huobi Pro will immediately suspend XEM deposits to protect user assets until further notice. XEM withdrawals will not be affected. We will keep you updated. Thank you for your understanding and cooperation." The Google translation, of course, is not perfect, but the essence is clear. When I asked why the money is not showing in my account, they politely replied that due to concerns for user asset security, I would not see my funds until the issues with NEM.io Foundation Ltd are resolved. They thanked me and expressed their appreciation. I asked them to at least confirm that the money arrived and everything would be fine, but they didn't even respond to that. Moreover, the XEM deposit disappeared as if it had never existed. Now it is impossible to prove that the account number in XEM, to which I transferred the money, was linked to my account on this exchange. This is a clear example of complete lawlessness at Huobi. Everyone understands that in this field, everything is based on trust, and in case of fraud, there is no one to complain to. Huobi can absolutely cynically appropriate clients' money, saying goodbye with a polite kick in the rear.
I had difficulties with my order, and I transferred money to the seller via Wise. The seller reported that they only received one of the two payments. I gathered all the transfer confirmations—screenshots, receipts, and a video showing me logging into the bank and checking the statement. I sent this information to the website's technical support. At first, they responded with standard phrases, and then they asked the seller to provide the same evidence as I did. A week has passed since then. I write to technical support daily, but they simply ignore my messages and do not respond. As a result, my money has been hanging for two weeks now, and the performance of technical support leaves much to be desired!
ETP has been closed again, and now these. Where is the commission that issues licenses to exchanges looking? Huobi is the most ******** exchange, where out of 92 new coins, all 92 turned out to be scams. It's not worth buying on this platform; you'll just lose money. They launch, dump, and close before the fall. I hope this exchange gets shut down.
I'll start with the safety question. Huobi has never been hacked. Two-factor authentication and SSL encryption provide protection. The majority of funds are stored in cold wallets. The exchange claims to have reserves of 20,000 BTC stored in a secure independent wallet, and there is also an Investor Protection Fund in case of unforeseen circumstances (I hope I won't have to use it). This fact at least brings a sense of calm. Now about the fees. This is interesting (though not new) — the fees are fixed and do not depend on turnover, amounting to 0.20% for both makers and takers. However, for holders of Huobi tokens, the conditions change. If you have at least 10 Hong Kong dollars (about 100 rubles) in your account, the fee drops to 0.18%. At higher levels, the fee can fall to 0.07%. I withdraw funds through AdvCash; there are no other convenient tools.
I had a problem with the HTX exchange, let's just say it wasn't the most pleasant experience. The thing is, I decided to make a deposit and transferred 16.13 Ton coins. When withdrawing, I didn't specify a tag, as the website said it was "optional." As a result, the coins were not credited to HTX, and they said, "No tag," and demanded proof, including a video. I recorded four videos, and they confirmed that these were my coins, but they have no intention of crediting them. They offered to return them for a fee of 0.04 ETH, which at a rate of $3300 amounts to $132. So, to get back $80, they want me to pay $132! It seems they decided not to return the money. I withdrew my funds back and no longer want to deal with HTX. I warn everyone, be careful: if you make a small mistake, it will be impossible to get your money back.
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HTX (Huobi) is an online service specializing in cryptocurrency trading. The company offers users a platform for exchanging digital assets, as well as various tools for analyzing and managing investments in the cryptocurrency market.
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