Simex is a cryptocurrency exchange and equity investment platform registered in the US and offers Bitcoin, Ethereum and several ERC-20 tokens in addition to supporting fiat currencies RUB & USD. It was launched on the 3rd of July 2015. Simex doesn't allow U.S. investors and has a very strict KYC/AML policy. It has a very good business plan, designed to appeal to foreign investors like Russia, China, or India, where cryptocurrency has a very uncertain future because of government regulations. These countries are known to have a lot of "whale" investors. By registering in the United States, Simex provides a rock-solid safe place to trade cryptos for these investors.
Simex is often also in the top-20 of exchanges by volume on Coinmarketcap.com. In addition to offering a secondary market as a cryptocurrency exchange, it lets small businesses and startups to raise funds from investors through its crowdfunding services.
The platform admits online investments and then does evaluation and primary audit and screening of investment projects, as well as the guidance of investment projects. Other functions of the platform include dealing with registry maintenance and eligibility requirement trading and provide legal guidance of deals made on this platform.
The Simex Team
CEO: Vassili Oxenuk (LinkedIn) Vassili was originally a mathematician, but has worked in finance and business for over 10 years.
Director: Nehemia Kramer (LinkedIn): Nehemia was an early adviser/investor in Ethereum and Consensys and is known for having a great instinct in cryptocurrency investments.
The full team can be seen here: https://www.bloomberg.com/quote/ARGB:US
How it works
With the crypto exchange, users are able to purchase digital currencies using cash or to cash Bitcoin and altcoins. Simex lets users deposit and withdraw fiat (RUB and USD) to or from SIMEX through credit/debit cards (Visa and MasterCard), bank wire transfer, Webmoney, or Yandex.
The charges for withdrawals and deposits depend on the payment method with Yandex Money being the highest at 3.3% (min: 100 руб, max: 15 000 RUB); Visa and MasterCard 2.9% (min: 100 RUB, max: 60 000 RUB); Webmoney RUB 2.9% (min: 100 руб, max: 14 000 RUB); and Wire Transfer (USD account) 0% + 45 USD (min: 1$). Simex is thus one of the few exchanges that offers USD pairs and a fiat on/offramp.
Besides this, users or customers are able to trade various digital assets at low trading fees: both market takers and market makers with a flat fee of 0.2%. However, the exchange does not provide leveraged trading which is available in only some crypto exchanges and forex brokers.
The crypto exchange also supports a variety of digital assets including the most popular Bitcoin, Ethereum, OmiseGo, EOS, Augur, Revain, and others. Besides that, it offers a variety of features including charting and technical analysis tools.
Strict KYC/AML Policy
Simex has one of the strictest "Know Your Customer / Anti Money Laundering" processes of any exchange. This is done on purpose to make sure that U.S. customers aren't included, and that the exchange doesn't get on the wrong side of U.S. laws. The idea here is to provide absolute certainty that funds kept on the exchange will be safe for foreign investors who are tired of the uncertainty of many other exchanges.
Token Sale Assistance
The SIMEX online registration and project placement requires prospective ICOs to submit an investment project or business expansion plan by indicating the how much money they need, investment terms/conditions, ROI, percentage of profits to be returned as dividends, dividend payments through SIMEX platform, any potential agency fees and ability to repurchase investment shares. Willing investors can thus pay into these projects and expect dividends.
"Simex Black" Debit Card Program
The project also features a premium pre-paid card program with an increased spending limits where there is an option to upload up to US$5,000 per day with unlimited max account balance. The card does not require a bank account to obtain; neither do you need employment history or previous credit history to get one. Besides, there is ease of balance and transaction check where you can check the balance online at any time. You can also activate the card online and proceed with activation procedure by providing their card number and CVV code for activation by the system.
The card is maintained for $20 annually and users don't need to pay the annual maintenance fees if the average annual card balance is above US$1,500. More info is available in this press release: https://globenewswire.com/news-release/2018/05/30/1514294/0/en/SIMEX-OTC-ARGB-establishes-SIMEX-FINANCE-LTD-in-UK-London.html
Those willing to invest in SIMEX, the investment strategy features include investment shares that represent an amount that an investor can claim in a project. This allows the investor to share in project profits and receive dividends. As an investor of SIMEX, you can invest directly in a project or you can purchase shares from other SIMEX investors on the secondary market.
The individual or company investor is also able to sell his/her shares on the SIMEX platform secondary market. This can be done on the SIMEX digital assets exchange through the various methods of depositing and withdrawing funds. Platform participants also evaluate investments based on weighted e-voting after the best offers are chosen and after voting funded by investors and experts of ranking TOP-100.
The various platform commissions include the following:
- Trade commission is 1% (0.5% SIMEX commission and 0.5% to the partnership program) from secondary bids made with project shares
- Cryptocurrency exchange trade deals commission of 0.2% paid by maker and taker of an operation.
- Project creation commission when there is successful acquisition of the project ranging from 0.5% up to 10% depending on a project and the terms of its placement on the platform
- Dividend distribution commission is 5%
- Currency exchange commission of +3% (according to the Central Bank of Russian Federation) for any operations
Other features and information
If you're choosing to invest, you can do so at a minimum of 10$. The project also offers affiliate program of SIMEX with the withdrawal of real money.
Public Offering of Simex Stock
In addition to all this, Simex has now started its own public offering of shares. 10 million shares are offered at $20 each, with the intent to raise $200 million. This will last until March 1st, 2019 or when all the shares are sold.
Details of this offer are here: https://finance.yahoo.com/news/simex-otc-argb-announces-beginning-190525533.html
To purchase shares in the company, you can simply buy SMX tokens, which can be converted to Simex's preferred shares. Each share requires 20 tokens, which means that SMX tokens are US$1.00 each during this offering. More info on the public offering can be found on their blog here: https://simex.global/en/blog/12
Contact Info for Simex
Stock Info: https://www.bloomberg.com/quote/ARGB:US