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Country: Malta
Launched: 2018
Site: bequant.io

Expert Review

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Written by Mirra

Financial journalist

Jan 16, 2020

Introduction

Bequant Overview

Bequant Team

Bequant Features and Service

How to Use Bequant

Bequant Fees

Bequant API

Account Types 

Customer Service

Is Bequant Safe?

Conclusion

Introduction

Bequant exchange was launched in Malta in 2018. This location was chosen because of the increasing importance of crypto regulation. The second office of the company works in London. Bequant targets professional and institutional traders, offering them advanced machine algorithms, low-latency mechanisms, and deep liquidity. Enabling access to over $150 mil in average daily traded volume, the group also provides Bequant Pro prime brokerage service for institutional clients, such as investment banks and hedge funds.

Bequant Overview

Bequant currently lists 800 trading pairs, 66 markets, and 19 currencies. This range includes top assets, such as Bitcoin, Ethereum, Litecoin. The exchange offers three types of accounts: Individual, Individual Pro, and Institutional. Thanks to deep liquidity, sophisticated trading solutions (for example, Bequant Pro prime brokerage), this platform serves professional and institutional traders best. Bequant technologies are compatible with auto trading strategies, including numerous trading bots. Trading on the platform is implemented with the help of Bequant’s native protocols: FIX, WebSocket or REST APIs. The Bequant platform can boast with real-time clearing.

Bequant Team

The project is maintained by the group of traders and finance specialists who’ve been into crypto since 2012. The focus of the team has always been on cutting edge trading technologies. The team behind Bequant has experience from regulated businesses and has great expertise in banking, derivatives, and electronic trading. Bequant’s CEO is George Zarya, an industry expert with extensive management experience in big financial and bank teams. In April 2019, Bequant hired a financial expert Richard Shade as a consultant. Approximately at the same time, Daniel Clayden was hired as the company’s new Head of Product Development.

Bequant Features and Service

The Bequant trading platform is customizable and features advanced tools. Its functionality includes:

  • TradingView and Bequant charts
  • A diverse range of order types
  • The ability to place large volumes of orders
  • Margin trading

Institutional and professional clients have access to the extended range of Bequant service. As we can see on the website of Bequant Pro service, this package provides:

  • Lower trading costs
  • OTC block trade execution
  • Personal broker service
  • Simplified KYC procedure and account opening process
  • Access to multiple trading venues
  • Co-location offering (via Bequant Direct)
  • Cold storage (via Safequant custody solution)


Bequant Direct
is the connectivity service launched in 2019. Thanks to this technology, traders get a trading environment providing them with high speed of data transfer, low latency and high speed of order execution. The development ensures tick to trade in microseconds.

Safequant custody is operated by the Bequant group and provides cold storage technology for digital assets. We could find it on the custody’s website that Safequant finds a perfect balance between easy access and institutional-grade security.

There is a System Monitor with live statistics of transactions.

How to Use Bequant

In order to start using the exchange, click the “Register” button and proceed further. Be ready to fill in personal details with your data and go through the verification process.

Bequant Fees

Employing a “maker-taker” model for fees and charges, Bequant sets a 0.1% fee without regard to the volume of trade. Under this model, makers receive 0.01% of the trade, which is also not tied to volume. This approach allows to maximize liquidity and narrow spreads.

Bequant API

Bequant’s API documentation is available in open access. By using it, third-party developers can gain access to the “Multiexchange’s next-generation trading engine”.

There is also a Bequant FIX (Financial Information Exchange) API. This protocol is specifically designed for high-frequency and professional traders. Using this API, a third party can developer will be able to access market data and place orders using their own trading software. FIX API gives full access to pool liquidity and order books. This documentation is available upon request.

Account Types 

There are Individual, Individual Pro, and Institutional types of accounts. Individual traders can withdraw up to $1000 per day from the exchange. There are no such limits for Individual Pro accounts. Personal broker service is available for this type of client, as well as a number of institutional products. Institutional clients can access the service package described above (in the overview of features and service), personal broker service and, on the top of that, a crypto lending opportunity.

Customer Service

Due to the mostly institutional character of the Bequant service, we could not find any individual users’ reviews on the web. As far as we can understand from articles in the Support Center, it is recommended that users receive “verified” status and go through the KYC checks. Verification implies providing identity documents, supporting papers, bank proofs, and personal information. Customer service response time is fast. You’ll be able to get a response in less than half an hour after you submit a request. Submitting a support ticket is the main way to reach out to customer care.

Is Bequant Safe?

Bequant offers quite common methods to protect users’ accounts. These methods include 2FA, e-mail notifications about new IP logins, a white list of withdrawal addresses. However, as we can suggest, institutional clients receive additional tools to protect access. For example, institutions will have to use multi-signature access to the custody solution. 

Based on these details we can conclude that Bequant provides an average level of account safety for individual users. At least, no security incident with this platform has ever been publicly reported.

Conclusion

Bequant gives an impression of a legit and reliable service. However, the lack of feedback on this platform does not allow us to make an exhaustive conclusion.  What is your opinion on Bequant? Have you used it? Have you encountered any difficulties during the use or would you like to share the benefits you’ve found here? Please share your feedback on Bequant in the comments.

Our score

Functionality 4/5
Reputation 5/5
Security 5/5
Support 4/5
Fees 4/5
Our score
4.4/5

pros

Depositing and trading in numerous currencies including fiat money

Low fees

Wide functionality

cons

Too little information about the platform

Withdrawals and deposits in fiat currencies require additional steps

The user funds are not insured

User reviews

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Miles 27 January, 4:15 AM
4.0

I think the platform is handy and the fees are low. Can't see any serious issues. I hope they will improve the level of security although I feel safe already.

Jarvis 24 January, 2:08 AM
5.0

So far the platform seems to be more than OK. I hope I won't be disappointed in the future.