How we approach reviewing a crypto exchange
A worked example of the Zero Plus Finance review method applied to a crypto exchange: the evidence we gather, the questions we ask, and the limits of what any review can tell you.
This page is a worked example of how the Zero Plus Finance desk reviews a crypto exchange. We publish the method so readers can weigh our conclusions and repeat the checks themselves. It reviews a generic subject rather than a specific brand.
Evidence before opinion
A review starts with documents, not impressions. We collect the published fee schedule, the terms of service, the stated custody model, and any regulatory registration. Each claim is tagged by how it is evidenced: verified against a primary source, reported, or a provider claim awaiting proof.
The questions that decide the verdict
- Where is the operating entity licensed, and can that be confirmed on an official register?
- Are client funds segregated, and what is the withdrawal policy under stress?
- What is the real, all-in cost of a round trip, including spread and withdrawal fees?
What a review cannot do
A review is a snapshot of documented evidence at a point in time. It cannot predict solvency, guarantee uptime, or replace your own due diligence about whether a service is available and appropriate where you live. Ratings, when we publish them, reflect that evidence and are not investment advice.
Review evidence
Evidence reviewed
- Public fee schedule
- Terms of service and withdrawal policy
- Regulator register entry, where one exists
Provider claims (not independently verified)
- Marketing claims about security and insurance are provider statements until independently evidenced
Strengths
- Transparent, published fee schedule
- Clear custody and withdrawal policy
- Verifiable regulatory registration
Limitations
- Regulatory status can differ by country of residence
- Past uptime does not guarantee future reliability
- Review subject
- Generic crypto exchange (methodology example)
- Jurisdiction
- Varies by entity and licence
- Regulatory status
- Verify on the relevant national register before use
- Fees & conditions
- Published fee schedule; check maker/taker tiers and withdrawal costs
- Security information
- Look for fund segregation, cold-storage policy, and a public incident history
- Methodology version
- v1.0