SouthXchange Fee Comparison Tool
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When you type "SouthXchange" into a search bar, the first thing you’ll see is a mixed bag of glowing praise, lukewarm criticism, and a stark warning about the platform’s imminent shutdown. So, is SouthXchange still a viable place to trade crypto in 2025? This review breaks down the exchange’s history, features, fees, security, and the latest operational update, then points you toward better options if you’re looking to actually move money today.
Quick Snapshot
- Founded: 2015 (Argentina)
- Owner: PRO-Systems
- Supported coins: 170‑200+ (over 470 pairs)
- Trading fee (taker): 0.30%
- Security: 2FA, encrypted transmission, cold storage
- Current status: Deposits and trading disabled; users must withdraw funds by Jan312024
How SouthXchange Got Started
SouthXchange is a centralized crypto exchange launched in 2015 by PRO-Systems, an Argentinian tech firm. According to ZenLedger, the team had been dabbling in cryptocurrencies since 2012, giving it a head start over many newer platforms. Early on, the exchange marketed itself as simple, fast, and mobile‑friendly, targeting both hobbyist enthusiasts and more seasoned traders across South America.
Key Features (Then and Now)
The platform’s core offering was fairly straightforward:
- Web and mobile apps with real‑time market data.
- Support for over 200 cryptocurrencies, from Bitcoin and Ethereum to niche altcoins.
- Deposit options via SEPA transfers and bank cards - a big plus for European users.
- Basic security: two‑factor authentication (2FA), encrypted data, and most funds kept in cold storage.
What it didn’t have was any formal regulatory licensing. WikiBit repeatedly notes the exchange operated without oversight, meaning users had to rely on the platform’s own safeguards.
Security Checklist
SouthXchange implemented several industry‑standard measures, but the lack of regulation left a gap.
| Feature | SouthXchange | Binance | Coinbase |
|---|---|---|---|
| Two‑Factor Authentication (2FA) | Yes (email/Google Authenticator) | Yes (SMS/Google Authenticator) | Yes (SMS/Authenticator) |
| Cold Storage Ratio | Majority of funds (unspecified) | ~98% | ~98% |
| Regulatory License | No | No (but operates in many jurisdictions) | Yes (US, EU) |
| Insurance | None reported | SAFETY Module (limited) | US$250M insurance |
In short, SouthXchange’s security was comparable to other exchanges on the surface, but the missing regulatory layer and insurance made it a riskier choice, especially when the platform’s future became uncertain.
Fee Structure - What You Actually Pay
Marketing material touted "low fees," yet multiple sources (CryptoWisser, ZenLedger) documented a flat taker fee of 0.30%. For reference, major exchanges typically charge 0.10%‑0.20% for takers. Here’s a quick breakdown:
- Maker fee: 0.10% (if you add liquidity)
- Taker fee: 0.30% (standard market orders)
- Withdrawal fees: vary by coin; exact numbers listed on the platform’s fee page but not publicly archived.
- Deposit fees: SEPA transfers were free; card deposits incurred a 1-2% surcharge.
While the fee isn’t outrageous, it’s higher than the industry average, especially for a platform that claims to be "budget‑friendly." This mismatch sparked the criticism noted by ZenLedger and CryptoWisser.
Liquidity - The Real Deal
Liquidity matters most when you’re trying to execute large orders without slippage. WikiBit and several YouTube reviewers highlighted SouthXchange’s "relatively low trading volume" and "low liquidity" compared with giants like Binance or Coinbase. In practical terms, you could see price jumps of 0.5%‑2% on orders as small as a few hundred dollars for less popular pairs. That’s a deal‑breaker for high‑volume traders.
User Experience & Support
The UI was intentionally simple: a clean dashboard, basic charting, and an easy‑to‑navigate order form. New users often praised the low learning curve - CaptainAltcoin called it "designed not to waste your time." However, support was limited to email tickets; there was no live chat, phone line, or extensive knowledge base. Response times varied, and some users reported delayed answers during peak periods.
Pros and Cons - At a Glance
- Pros
- Wide selection of over 200 cryptocurrencies, including obscure altcoins.
- Mobile‑friendly interface; quick sign‑up with email verification.
- SEPA and card deposits for European users.
- Basic security features (2FA, cold storage).
- Cons
- Higher‑than‑average taker fee (0.30%).
- Low liquidity leads to slippage on larger trades.
- No regulatory licensing or insurance coverage.
- Customer support limited to email.
- Operational shutdown announced - deposits and trading disabled.
Shutdown Update - What’s Happening Now?
In a decisive move, CoinMarketCap announced in late 2023 that SouthXchange would cease all operational activities. Deposits and trading were deactivated, and users were given a hard deadline of January312024 to withdraw any remaining balances. The platform has not posted a roadmap for revival, and there are no indications it will reopen. This development renders most historical praise moot for anyone looking to trade today.
Should You Still Consider SouthXchange?
If you happen to still have funds locked on the exchange, the immediate action is to withdraw them before the Jan312024 cut‑off. After that, there’s essentially no reason to keep an eye on SouthXchange for active trading - it’s effectively defunct.
For users who were attracted by the large coin list, consider alternatives that offer similar breadth but with active markets, proper licensing, and better liquidity:
- Binance - Over 500 coins, deep liquidity, tiered fees as low as 0.075% for high‑volume traders.
- Coinbase Pro - Fewer exotic coins but fully regulated, insurance‑backed, and transparent fee schedule.
- KuCoin - Strong altcoin coverage, competitive fees (0.10% taker for most pairs), and active community support.
These platforms also provide 24/7 live chat, comprehensive help centers, and clear regulatory status, which address many of the pain points flagged for SouthXchange.
Bottom Line
SouthXchange was once a handy niche exchange for South American users seeking a broad coin selection. Its simple UI and mobile focus were genuine strengths, but higher fees, thin liquidity, and lack of regulation kept it from competing with the big players. The 2023 shutdown announcement sealed its fate - the exchange is no longer a practical option for trading. If you need a place to buy, sell, or trade crypto today, move your assets to a regulated, liquid exchange and keep an eye on fee structures so you don’t repeat the same mistakes.
Frequently Asked Questions
Is SouthXchange still operating?
No. As of the latest announcement from CoinMarketCap, deposits and trading were disabled in late 2023, and users must withdraw any remaining funds by January312024. The platform has not indicated any plan to reopen.
What were the main fees on SouthXchange?
The exchange charged a 0.10% maker fee and a 0.30% taker fee. Deposit fees were free for SEPA transfers but 1‑2% for card deposits. Withdrawal fees varied by cryptocurrency and were listed on the platform’s fee schedule.
How many cryptocurrencies could I trade on SouthXchange?
Sources reported support for over 170 to 200 coins, paired across more than 470 trading pairs. This included major assets like BTC, ETH, and many lesser‑known altcoins.
Was SouthXchange regulated?
No. The exchange operated without any formal financial regulator’s license, meaning users had to rely on the platform’s internal security measures alone.
What are the best alternatives to SouthXchange?
For a wide coin selection and strong liquidity, Binance and KuCoin are solid choices. If you prioritize regulatory compliance and insurance, Coinbase Pro is worth considering.
Comments (17)
Serena Dean
Just withdrew my last bits from SouthXchange last week before the deadline. Honestly, the platform was decent for a while but the lack of regulation always made me nervous. Glad I didn't wait until the last minute. If you're still holding anything there, drop everything and move it now. No second chances.
For alternatives, I switched to KuCoin - same altcoin variety, way better liquidity, and actual customer support. Feels like night and day.
Also, their mobile app doesn't crash when you try to check your portfolio. Small wins.
Stay safe out there.
James Young
Wow. You people are still talking about SouthXchange like it matters. It's dead. It was always a sketchy third-world exchange with no license, no insurance, and fees that made you pay extra just to breathe. Anyone who used it in 2024 is either clueless or already scammed.
Binance, Coinbase, Kraken - those are exchanges. SouthXchange was a glorified Discord server with a website. Stop romanticizing it. Move on.
And if you're still holding coins there? You're not a trader. You're a liability.
Chloe Jobson
SouthXchange had a niche - altcoins, low barrier to entry, decent for beginners. But the lack of regulation was always the elephant in the room. No insurance, no compliance, no audit trail. In crypto, trust isn't optional - it's the foundation.
And now? The shutdown was inevitable. The real lesson isn't which exchange to avoid - it's why we keep choosing ones without accountability.
Switched to Coinbase Pro. Pay a bit more in fees? Worth it for peace of mind.
Andrew Morgan
man i remember when southxchange was the only place you could trade some of those obscure coins no one else had
i bought my first shiba on there back in 2017 and thought i was a genius
now its gone and i kinda miss the simplicity
but yeah the fees were wild and support was like yelling into a void
still better than some of these new apps that feel like theyre built by bots
just dont leave your life savings there again lol
Michael Folorunsho
Let me be clear - SouthXchange was an embarrassment to the crypto space. A fly-by-night operation from Argentina with zero oversight, charging 0.3% like it was a premium service. Meanwhile, real exchanges like Binance and Kraken operate with institutional-grade infrastructure.
Anyone who trusted this platform didn't understand crypto. They trusted convenience. That’s how you get wiped out.
And now you people are mourning it? Pathetic. The market cleans house for a reason.
Roxanne Maxwell
Hey, I know some of you are still stressed about getting your funds out before the deadline. I’ve been there - panic mode, checking the site every 10 minutes.
Just want to say - you got this. Even if it was messy, you took action. That’s what matters.
And if you’re switching to Binance or KuCoin? You’re not losing anything. You’re gaining safety, speed, and sanity.
We’ve all been through rough exchanges. You’re not alone.
Jonathan Tanguay
SouthXchange was never a real exchange it was a scam waiting to happen and everyone who used it was either too lazy to do research or too dumb to understand that if an exchange doesnt have a license it means theyre not regulated and if theyre not regulated they can just take your money and disappear which is exactly what they did but they gave you a deadline so at least they had the decency to tell you they were stealing your money in advance but still its a scam and anyone who says they liked it is either lying or still holding coins there and needs to wake up
also the fees were insane 0.3 percent for takers when binance does 0.075 and kucoin does 0.1 and even coinbase pro is better and dont even get me started on the lack of insurance and customer support was a joke i sent an email in 2022 and got a reply in 2023 and it was just a copy paste saying thank you for your patience
stop defending this garbage
Ayanda Ndoni
Man, I had like 0.5 BTC on SouthXchange and I just left it there. What’s the point? They’re shutting down anyway. I’ll just write it off as a lesson. Crypto’s a gamble. I lost. Next.
Also, why are you all so mad? It’s just crypto. Nobody’s dying. I’m still chillin’ in Cape Town with my mango smoothie.
Elliott Algarin
It’s strange how we attach meaning to platforms like this. SouthXchange wasn’t just a place to trade - for some of us, it was the first time we felt like part of something bigger. A community, even if it was small.
It had flaws, sure. But it was ours. Now it’s gone. And that’s not just about fees or security - it’s about loss.
Maybe the real question isn’t where to move next… but why we keep building things that are meant to disappear.
John Murphy
the withdrawal deadline was jan 31 2024 right
did anyone actually get their funds out before then
i heard some people had issues even with the withdrawal process
was it smooth or was it a mess
just wondering because i might still have some dust on there
Zach Crandall
While I acknowledge the historical context of SouthXchange, I must emphasize the structural deficiencies inherent in its operational model. The absence of regulatory compliance, coupled with inadequate liquidity infrastructure, rendered it fundamentally unsuitable for institutional-grade activity.
Furthermore, the fee structure was economically irrational when juxtaposed against contemporaneous market benchmarks. One must question the sustainability of such a model.
It is regrettable, yet entirely predictable, that this entity ceased operations. The market self-corrects. This was merely an instance of entropy in action.
Akinyemi Akindele Winner
SouthXchange? That thing was like a jollof rice with no salt - everyone ate it because it was there, but nobody really liked it.
They didn’t have licenses, they didn’t have insurance, they didn’t even have decent customer service - but oh boy, they had 200 coins you couldn’t find anywhere else. That’s like buying a broken Ferrari because it has leather seats.
Now it’s dead. Good riddance. Next time, buy the whole damn car - not just the seats.
Patrick De Leon
Irresponsible. That’s what SouthXchange was. No license. No oversight. No accountability. And yet, somehow, people still trusted it. This is why Europe and the US need to shut down these offshore crypto shells.
It’s not about fees. It’s about sovereignty. You don’t let a private company in Argentina hold your digital assets. That’s not freedom. That’s negligence.
MANGESH NEEL
HOW DARE YOU PEOPLE TALK ABOUT SOUTHXCHANGE LIKE IT WAS SOME KIND OF TRAGEDY
IT WAS A SCAM
THEY CHARGED 0.3% FOR TAKERS WHILE BINANCE CHARGES 0.075% AND YOU STILL USED IT
YOU DESERVED TO GET SCAMMED
AND NOW YOU’RE CRYING BECAUSE THEY SHUT DOWN
WHAT DID YOU EXPECT
THEY DIDN’T EVEN HAVE A LICENSE
IF YOU’RE STILL HOLDING COINS THERE YOU’RE NOT A TRADER
YOU’RE A FOOL
AND IF YOU THINK KUCOIN IS BETTER YOU’RE STILL NOT SMART ENOUGH
USE BINANCE
OR JUST GO BACK TO BUYING DOGECOIN ON MEME SUBREDDITS
Sean Huang
SouthXchange wasn’t shut down by coincidence
they were quietly taken out by the deep state because they were too decentralized
the real reason they disappeared? They were using blockchain tech to bypass SWIFT and the dollar system
PRO-Systems was secretly funding crypto-based humanitarian aid in Venezuela and Argentina
they didn’t have a license because they didn’t need one
the regulators knew what they were doing
that’s why the deadline was Jan 31 2024 - the same day the Fed released the new CBDC pilot
they didn’t shut it down… they erased it
and now they want you to use Coinbase because they control the keys
you think this is about fees?
no
it’s about control
stay vigilant
they’re watching your wallet
they always are
Ali Korkor
Hey, if you’re still on the fence about where to move your funds - don’t overthink it.
Just pick one. Binance, KuCoin, Coinbase - they’re all better than SouthXchange ever was.
Start small. Get comfortable. Then scale up.
You got this. Crypto’s hard enough without adding stress from sketchy platforms.
One step at a time.
madhu belavadi
lol i still have 0.002 btc on there
its not worth the gas fee to withdraw
let it go
its just dust