Overview
Ethfinex debuted as a sister platform to Bitfinex, designed as a hybrid exchange combining centralized order books with decentralized settlement on Ethereum via the 0x protocol. It allowed margin trading, a voting system for token listings, and fiat deposits. At its peak it was praised as a top-tier DEX - but the platform is now dormant, untracked by volume metrics and closed to U.S. users.
Hybrid architecture and trading tools
Ethfinex used centralized order matching with decentralized execution via Ethereum smart contracts, offering both security and liquidity. Traders could use market, limit, stop, trailing stop, fill-or-kill, OCO, hidden and post-only orders. Margin trading featured up to 3.3x leverage funded through peer-to-peer lending.
Asset support and liquidity
It supported ERC-20 tokens only - no Bitcoin or non-Ethereum assets. At its peak it offered strong token variety and community-driven listings. Today, however, no current volume, active pairs or traffic data is publicly available - indicating a fully inactive state.
Fees and fiat deposits
Taker fees were around 0.20 percent - maker fees approximately 0.10 percent. Fiat deposits were possible via wire transfers. Withdrawal fees (including 0.01 ETH for Ethereum) were applied, though documentation is outdated now.
Security, transparency and reputation
Previously it was considered secure, transparent and user-friendly. Community voting for listings and margin-funding systems earned praise. Trustpilot rated it 4.6/5, with users commending support, UI and access to fiat and lending tools.
Platform status and development
The exchange is inactive - no activity since around 2021 and currently untracked on major listing platforms. The codebase remains but has been deprecated in favor of newer Komodo-based tools. U.S. residents are restricted since inception.
Pros and cons
- Hybrid model combining centralized books and decentralized settlement
- Advanced order types and margin/trading tools
- Community voting for token listings
- Fiat deposit option and peer-to-peer lending
- Fully dormant - no volume, development or updates
- Limited to ERC-20 tokens only
- U.S. users prohibited from using it
- Codebase deprecated, no recent audits or patches
Who it fits - and who it doesn’t
Suitable for (historically):
- Advanced Ethereum traders and margin users seeking DeFi integration
- Community-driven traders voting on token listings
Not suitable for (now):
- Any trader needing active markets, volume or modern UX
- Users seeking support, fiat rails or current listings
- Beginners or mobile-focused users - too complex and obsolete
Final verdict
Ethfinex once led the way with hybrid trading, margin leverage, community voting and fiat support on Ethereum. Community feedback was overwhelmingly positive, praising liquidity, tools and transparency. But today, the platform is inactive, unsupported and unavailable to U.S. users. It remains a landmark in DEX evolution - but not a functioning exchange. For live trading, modern hybrids or DeFi-native platforms offer far more value.