Changelly PRO Review — The New Changelly Exchange

Changelly PRO is the cryptocurrency exchange launched this year by the dev team that created the instant exchange Changelly in 2015. Unlike the previous project, Changelly PRO is a more standard exchange in terms of interface and the trading view. It has a candlestick chart, indicators, an order book, sell/buy boxes with numerous types of orders, etc. The exchange presents over 80 trading pairs. Notable features are competitive fees and the support for margin trading. But first things first!

Note: You can read more about Changelly Pro at Cryptogeek.info

Before PRO

Changelly made its name after developing an instant cryptocurrency exchange in 2015. This platform serves as an intermediary between users and a number of cryptocurrency exchanges (e. g. Binance and HitBTC). Changelly’s algorithms are set to find the best rates for its users. The main Changelly features are instant transactions and fair fees. The platform gained serious public attention and a huge user base of 2 million monthly traders.

No wonder, that the Changelly team decided to move forward and try their skills in developing a new product. This time they’ve built their own crypto exchange. As the team has enough experience in working with the exchanges and the name of the company is well-established, they had all the premises to hit the market with a new competitive exchange. However, it is early to judge if this time they are as successful as it was with the previous effort. Time will show. Nevertheless, we already can provide a detailed review of Changelly PRO.

Interface & Features Review

As mentioned above, Changelly PRO has quite a regular trading view. Anyone who saw a couple of top exchanges will definitely find the PRO’s interface familiar as it has all the basic sections laid out in a usual way.

The basic trading activity takes place in the Trade tab. In the upper left part of the page, there is a candlestick chart. It has all the popular (and even more) indicators and tools to help traders to work with the chart data. There are many chart settings so users can easily make this graph custom.

On the right from the candlestick chart, there is the Markets section. In this section, users can choose one of four default markets (Bitcoin, DAI, USDT, and ETH) or create an individual selection of markets in the Favorites tab. In the Markets tab, users watch the actual prices of certain currencies, change, volume, and so on.

Under the Markets section and graphs, there are Buy/Sell boxes and My Orders/Trades section. In the Sell and Buy boxes one can choose between several order types. Changelly PRO provides market orders, limit orders, and scaled orders. Some exchanges have only market orders which seriously limit the traders’ freedom. It makes profitable trading nearly impossible because traders cannot secure themselves from losses in the cases of unexpected trend changes. Limit orders specify the price below or above which the order is not going to be executed. So the trader can rest assured that she/he is buying too high or not selling too low regardless of the market behavior.

Apart from these basic types of orders, PRO has other types such as Good Till-Cancelled (that is active until it is get filled or canceled by the user), Day (this order expires if it is not filled the same day it was posted), Good-Till-Date/Time (such an order is a lot like Day order, but the user can specify the expiration date), Fill-Or-Kill (such orders can be filled only entirely and immediately. If not, it gets canceled), and finally Immediate-Or-Cancel (these orders are executed immediately. The portion of the order that cannot be filled instantly is being removed).

Such a diversity of order types is really important as it helps traders to maintain control over their traded funds. One might think that limit orders don’t let users gain maximum revenues, however, avoidance of losses is much more critical for traders. It’s safe to say that most exchanges don’t have such an amount of order types.

On the right from the Sell/Buy boxes there is a My Orders and Trades section. That’s where users can check their trading history and see the list of their open orders. The section has three tabs: Cancelled and Filled Orders, Active Orders, and My Trades. Below there is an order book updating real-time consisting of two columns (buy and sell). Then, under the order book, there is the Times & Sales section (the list of all the sales that take place on the exchange) on the left and the Market Depth (price to volume correlation graph) section on the right.

Besides the standard trading functions, Changelly PRO supports margin and leveraged trading. This type of trading allows traders to maximize their profit using the extra money provided by the exchange. On Changelly PRO the margin is provided by the platform. The traders are required to pay some percentage of the value of the orders placed by them in order to cover the debt. Changelly PRO provides a maximum of 10x leverage rate. It’s important to realize that margin trading as well as leveraged trading are associated with higher risks. These types of trading better fit more experienced traders. On Changelly PRO margin trading is allowed only for verified accounts with enabled 2-factor authentication.

In the Wallet tab, there is a list of all currencies supported by the platform and the balance info. Users can see how much BTC or any other currency they have at the given moment. Next to the name of each coin there is the Deposit and Withdraw buttons which can be used to add or transfer some money. The user account can be split into Trading Account and Reserved. This option helps to maintain the portfolio better.

The Reports tab displays information concerning all aspects of the user’s activity on the platform. In this tab, the user can request the reports of individual trading volume in certain currencies for the specified period, the amount of paid fees, active orders, withdrawals and deposits history, and so on. All this data can be exported in a form of a detailed report. It helps users to estimate the trading profitability.

Changelly PRO Fees

As for fees, there are two types of commissions on Changelly PRO. The platform charges trading and withdrawal fees. Trading fees are set at a really small rate: both takers and makers pay only 0.1%. More than that, those who trade in large volumes enjoy fee discounts (market makers or those who post limit orders get bigger discounts). The withdrawal fees are flat. Each currency has an individual commission rate. For example, the BTC withdrawal is charged with the 0.0004 BTC fee which is quite alright in comparison to other exchanges.

Changelly PRO Security

There are enough measures provided by Changelly PRO in terms of security of the users’ funds and data. First off, the users can (and are recommended) to enable 2-factor authentication. This measure critically increases account security. Besides 2fa, it is possible to guard the account with Yubikey. Additionally, users can set the whitelist of addresses. If a hacker gets to the account, she/he will fail to withdraw money to any address apart from those included in the list. KYC procedure decreases the number of potential scammers on the platform as they won’t be happy to verify their identities.

Some people ask if Changelly is a scam. The very fact that after 5 years of service the company is still prominent and has resources to provide new platforms make us believe that even despite certain troubles (any platform has its cons) Changelly is a legit operation.