TradeOgre Review

With the growing number of exchange options and the features they offer, it’s becoming increasingly difficult to determine which exchange provides safe trading. In this TradeOgre review, I’ll help you assess whether this platform is the right choice.

TradeOgre is a centralized exchange established in 2018, though its founders and registered country are unknown. This exchange only allows crypto trading, so there are no fiat currencies available.

While it definitely doesn't stand a chance compared to popular choices like Bybit, Binance and Kraken, it does offer access to some niche coins that others might not.

What is TradeOgre?

As I introduced earlier in this TradeOgre review, it’s a cryptocurrency exchange platform that only allows crypto-to-crypto trading, with no support for fiat currencies like USD or EUR. This puts TradeOgre in a very niche market—focused primarily on altcoins. It offers a small but diverse crypto-list of around 100 coins and more than 200 trading pairs.

Popular pairs include XRP/BTC and XMR/USDT, which cater to users looking for privacy-focused coins. The platform also lists coins like Pirate Chain (ARRR) and Kaspa (KAS), both of which are not widely supported on other exchanges.

Unlike larger exchanges, TradeOgre does not offer advanced features like staking, futures trading, or margin trading. So, if you are looking for a more comprehensive exchange that aligns with your strategies, consider using well-known platforms with advanced features like Bybit or Binance.

Despite being a centralized exchange, TradeOgre places great importance on anonymity. In this regard, it acts like a decentralized platform and doesn't implement KYC (Know Your Customer) protocols, which is a bit unusual because it poses security risks, as there is no way to verify user identities in case of fraud or theft.

TradeOrge Review: PROS

Let’s continue this TradeOgre review with the positive aspects because the cons section will be longer.

Supports Niche Altcoins

As I've already noted a few times, TradeOgre’s biggest advantage is the capacity to offer niche altcoins that you may not be able to find on other exchanges. This can be beneficial for those who want to diversify their portfolio with less popular or emerging coins and tokens. Though, as you already know, it doesn't even offer a wide variety of assets overall, around 100.

These altcoins, such as Ravencoin (RVN) and Flux (FLUX), are lesser-known, and many of them are not listed on major exchanges due to their low liquidity or early-stage development.

Investing in such assets may provide upside potential. Meaning that early adopters might gain decent profit if the coin becomes popular or gets listed on larger exchanges.

However, it’s important to remember that trading niche cryptocurrencies also comes with high risks. These coins mostly have lower liquidity, meaning it could be more challenging to buy and sell them quickly without causing significant price changes (which is exactly what happened with the Kaspa, but I’ll get into that later).

Also, highly reputable exchanges list fewer niche currencies for a reason – they analyse them thoroughly before putting them out there to ensure their users are not dealing with scammy projects. When you have a platform that lists just about anything, it means you're chances of stumbling upon a potential scam are way higher.

Easy to Use

Centralized exchanges are frequently noted for their user-friendly interfaces,^[1] which are similar to stock exchanges, allowing even those with no prior trading experience to navigate them easily. I think the TradeOgre is one of these platforms.

It has a simple interface that everybody can understand and use easily, whether navigating the website or signing in. Although it’s not very visually appealing, it looks straightforward and understandable.

Once you log in to your account, it is very easy to view past activities such as trading and deposit history or active orders. You can also download this data in CSV format and view it in programs such as Excel.

This benefits users who are interested in trading but don't want to deal with complications, such as futures markets, staking options, or complicated API integrations. Thus, there is no learning curve for beginners besides following and understanding price changes in the market.

On the other hand, this simplicity may also limit users looking for more sophisticated trading tools. But we’ll get into that in detail in the cons section of this TradeOgre review.

Offers Two Factor Authentication (2FA)

Even though it’s an additional and optional step for signing in, I highly recommend using it since it adds an extra layer of security for your assets.

To set up and use 2FA on the TradeOgre exchange, you’ll need to download Google Authenticator or Authy, which will generate a time-based one-time password (TOTP) for accessing your account. Once you've downloaded the app, simply go to your profile and update your security settings.

You will find a code generated for your account to connect with the authentication app. You can either manually enter the code displayed here into your authentication app or simply scan the QR code.

This is a one-time setup process—there’s no need to repeat it later; it’s only required for initially setting up the authenticator.

There are several question marks when it comes to the security of this exchange, so I think it's crucial to use at least the measures it offers.

Did you know?

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TradeOrge Review: CONS

This niche exchange has experienced many issues that may have damaged users’ trust and caused a lot of hassle. That’s why this part of my TradeOgre review will mostly be about understanding whether TradeOgre is safe to use.

However, since the limitations go beyond security concerns, let's start with trading options before getting too deep into safety issues.

Limited Trading Options

One of the main drawbacks of TradeOgre is that the platform only supports crypto-to-crypto trading and does not allow users to deposit or withdraw fiat currencies like USD or EUR. Thus, if you don’t already own any crypto in your wallet, it’s not possible to use TradeOgre.

Cashing out your assets is also a hassle because you'll have to transfer your crypto to another exchange first and only then will you be able to convert it to fiat. This process can also cause losses due to gas fees and significant price changes since the market is highly volatile.

📚 Read More: Best Fiat-to-Crypto Exchange

While the simple interface may suit beginners, more skilled traders will likely find the features insufficient for their strategies. Because TradeOgre also lacks functionalities like real-time data analysis, staking, margin trading or any of the more advanced options seen on major exchanges like Binance.

	BINANCE
Analytical Tools
Mobile App
Security	| | | | | Very Poor Average Excellent
Social Trading
Copy Trading
Additional Features	A Comprehensive User Center that Displays All The Information You Need in One Place
Anonymity
	See TOP10 Brands Read review

Table: Binance features

This limits the platform's attraction to users looking for passive income opportunities or those who want to trade using leveraged products. 

Low Liquidity

Low liquidity is a major issue highlighted in TradeOgre review Reddit discussions, too.

This issue can be problematic, especially if you hold large amounts of cryptocurrencies as withdrawal delays may result in missed trading opportunities or potential financial losses.

In the past, this also led to distrust among users who claimed the exchange manipulates withdrawal times to avoid paying out during high market activity. For instance, in 2021, some users had significant issues with withdrawing Dogecoin (DOGE). They claimed that TradeOgre didn’t have enough DOGE but still continued to sell. This has raised the question – is TradeOgre Safe?

Unfortunately, that is not the only case in terms of liquidity and withdrawal issues. In 2023, Kaspa (KAS) was on the rise for quite a while. Reddit users claim that all other exchanges showed higher prices while on TradeOgre they were pretty low, and despite that, they still could not withdraw their Kaspa.

Some users who couldn't withdraw their Kaspa tried converting it to other units to make a withdrawal, but either faced significant losses or couldn't convert it at all.

One X user even posted a thread about how he wasn’t able to withdraw Kaspa for 431 days. The thread spans from August 2023 to November 2024, but he finally confirmed that he managed to withdraw it after 431 days.

Such problems are not exclusive to TradeOgre, but they are especially concerning on smaller platforms where liquidity can be more limited.

Limited Customer Support

Another consistent complaint from TradeOgre reviews on Reddit is that the platform has poor customer support. Many users report that the service is either very slow to respond or sometimes even doesn’t reply at all.

Imagine you cannot withdraw your crypto from a platform, and then you try to reach out to customer service. They see the message but still don’t reply. Honestly, I would definitely think that I was scammed. One Reddit user even shared a screenshot of the messages between him and TradeOgre, which seems concerning because they did not reply at all.

For users dealing with critical issues like locked funds or system errors, these delays can lead to substantial financial losses, making the platform difficult to rely on in high-stake situations. This lack of support only worsens the liquidity issues mentioned earlier, as users are left in the dark about the status of their funds.

Lack of Advanced Security Features

The lack of some functions and low liquidity are not the only problems with users' perceptions of trust. Let’s examine the TradeOgre review from the perspective of security features—or should I say lack thereof?

• No KYC Requirement

As I already mentioned, TradeOgre is a centralized exchange platform, and you probably know that most centralized platforms feature a KYC (Know Your Customer) method to prevent financial crimes like money laundering. In this way, the sign-up process involves submitting personal documents such as identification or proof of residence.

Well, TradeOgre does not require any security features similar to this. While it endorses ease of use, it’s not very common in terms of security. User identities are not verified; therefore, it’s difficult to recover funds in the event of a hacking incident or fraudulent activity. Although nothing malicious is publicly reported, this level of anonymity carries risk.

• Lack of Public Audits

Most centralized and well-known exchanges undergo audits to address and prevent safety problems. While some conduct these audits regularly, others perform them after following major updates.

These audits often focus on proof of reserves, verifying that the platform indeed holds the assets it claims on behalf of its users. For instance, Bybit makes these processes as open and frequent as possible to ensure its users that it’s a safe exchange to use.

Below, you can find an example of an audit scope for proof of reserves of Bybit.

Typically, audits are conducted by third-party firms and include various independent security assessments, such as evaluating whether the platform's firewalls are functioning right and identifying potential threats that could lead to serious security breaches.

Unfortunately, TradeOgre does not provide any information about internal or external audits. Even if such audits are conducted, the lack of transparency raises concerns, as users are not given proof of security measures or any confirmation regarding the platform's reserves.

• Unspecified Asset Storage

In the context of cryptocurrency trading, key security concerns such as hacking risks, potential price manipulation, and the lack of transparency regarding how user funds are stored^[2] are commonly discussed in relation to centralized exchanges. This also applies to TradeOgre, where there is no public clarity on whether user assets are kept in hot or cold wallets.

Larger exchanges typically store users' assets in cold wallets to reduce risk. However, much like the audit situation, it's unclear whether TradeOgre follows this practice. This is not the case with some of the industry leaders, though:

Table: Storage solutions on Bybit and Kraken

While platforms like Bybit and Kraken try to be as transparent as possible, TradeOgre hasn’t publicly announced whether it uses hot (online) or cold (offline) wallets for user funds. Given the liquidity issues and the lack of regular audits, I’d say they’re most likely relying on hot wallets, but of course, it’s not disclosed information provided by TradeOgre itself.

You might think, "Well, if they don’t have audits and their storage method is unclear, maybe they offer compensation in case of hacking." Unfortunately, that’s not the case. TradeOgre provides no insurance to cover user losses in the event of a security breach.

TradeOgre Fees

This wouldn't be a full-fledged TradeOgre review without mentioning the fee structure of the platform. One of the appealing aspects of this exchange is that it does not charge any membership or sign-up fees. You can create an account and start trading without any upfront costs.

However, like other cryptocurrency platforms, the TradeOgre exchange does have specific transaction fees that users need to be aware of. It charges a trading fee of 0.2% on all fulfilled orders. Even though it looks like it's quite cheap, there are still better options:

Table: Spot trading fees on TradeOgre, Bybit, and Binance

Also, when withdrawing your crypto, you'll have to pay a withdrawal fee that varies based on the asset in question. Here are a few examples:

• BTC. 0.00005421 BTC
• AAVE. 0.20000000 AAVE
• ADA. 0.20918971 ADA

As you probably know, in addition to these fees, there are also gas fees, which depend on the network and its congestion at the time of the withdrawal (they can significantly rise in times of high demand).

How to Use TradeOgre?

TradeOgre is a straightforward exchange platform, and understanding its key features will help you navigate and trade effectively. In this section of my TradeOgre review, I’ll guide you through using this platform step by step, from setting up your account to making your first trade.

How to Sign Up on TradeOgre?

Before you can start trading on TradeOgre, you'll need to create an account. The sign-up process is simple and quick, ensuring you can get started without much hassle. Let’s create your TradeOgre exchange account together!

Click the profile icon located in the upper right corner of the main page and then click the [Sign In] button.

It will automatically direct you to the sign-in page. On this page, below the sign-in button, you’ll see the text "Don’t have an account?" Click the [Register Here] option next to it.

After entering the email that you want to register with, create your password and confirm it by entering it a second time. Since the TradeOgre exchange requires you to accept the "Terms of Service" to create an account, check the box, but I recommend reading the terms before accepting. After that, click the [Register] button below to complete the registration process.

After clicking the register button, the site will present you with a prompt asking you to select images based on the given instructions. For example, you might need to select the object that is different from the others.

Once you complete this step, your registration will be completed.

How to Buy/Sell Crypto on TradeOgre?

Once you've set up your account, the next step is to deposit funds and begin trading.

To trade on the TradeOgre exchange, you first need to deposit some crypto into your account. After logging into your account, click the profile icon in the top right corner, then select [Deposit].

After clicking the [Deposit] option, click the [Coin] button on the page that appears and find the cryptocurrency you want to deposit. For example, I chose Bitcoin for this example.

Copy the deposit address and paste it into the wallet from which you want to withdraw your crypto. Be sure to use the same network.

To return to the homepage and view trading pair options, click either the TradeOgre exchange logo in the top left corner or the [Markets] button next to it.

Choose a trading pair that interests you and click on it. For example, I selected the Monero/Bitcoin pair.

Now, simply enter the amount you wish to buy into the table below and click the green [Buy] button to complete your transaction easily. That's it! Don’t forget to check your active orders in your account to keep track of the coins you purchased.

Pros

• Secure and reliable
• Accepts fiat currencies
• Lots of trading options

Main Features

• Reputable exchange
• Accepts fiat currencies
• Offers various trading options

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Pros

• Fiat currencies - accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for beginner investors
• Accepts fiat currencies

GET $200 REWARD

Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Over 300 supported cryptos

Main Features

• Over 300 cryptocurrencies
• Secure & transparent
• Fully reserved

$20 in BTC

Conclusions

Summing up this TradeOgre review, I'd say it's an oversimplified platform that is known for offering niche or privacy-focused assets like Monero.

Its simplicity and ease of use might make it a suitable option for beginner traders who are not looking for advanced features for trading or earning, which you can normally find on feature-rich exchanges like Binance and Bybit.

In addition to all this, I think the question of "Is TradeOgre safe?" still remains debatable due to its liquidity and withdrawal problems. Plus, there are no audits known regarding the proof of reserves or how user assets are stored. To top it all off, it does have an outdated design that seems a bit scammy.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Z. Zhou, B. Shen: ‘Toward Understanding the Use of Centralized Exchanges for Decentralized Cryptocurrency’;

2. S. Hägele: ‘Centralized Exchanges vs. Decentralized Exchanges in Cryptocurrency Markets: A Systematic Literature Review’.