BEQUANT Exchange Review 2025: Institutional Focus, Fees & Security

Jonathan Jennings
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BEQUANT Exchange Review 2025: Institutional Focus, Fees & Security

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BEQUANT Institutional 0.01% / 0.10%
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Coinbase Retail + Institutional 0.00% / 0.00%
Kraken Retail + Institutional 0.00% / 0.10%
Savings Potential: You could save approximately $ 0 per month by trading with BEQUANT instead of Binance.

Note: BEQUANT's fee structure is designed for institutional clients with high-volume trading. Retail traders should consider exchanges with mobile apps and broader language support.

When you type “BEQUANT crypto exchange review” into a search box, you’re probably looking for a clear verdict: does the platform deliver on its promises or is it just another name that fizzled out? The short answer is that BEQUANT is a Malta‑regulated digital‑asset service provider that began as a cryptocurrency exchange in 2018 before pivoting to an institutional prime‑brokerage model. In 2022 the retail side shut down, leaving only the regulated brokerage arm for hedge funds, asset managers and OTC desks. If you’re a trader, an institutional analyst, or just a crypto‑curious reader, this review covers the fees, security, technology and regulatory backdrop you need to know.

Key Takeaways

  • BEQUANT now serves only institutional clients; retail trading stopped in July2022.
  • Maker fees sit at 0.01% while taker fees are 0.10%, among the lowest on record for a regulated venue.
  • It holds a Class3 prime‑brokerage licence from the Malta Financial Services Authority (MFSA) and complies with ISO27001 security standards.
  • High‑speed connectivity via FIX4.4, WebSocket and REST APIs makes it attractive for algorithmic traders.
  • Without a mobile app or multilingual support, the platform is unsuitable for casual retail users.

How BEQUANT Evolved: From Retail Exchange to Institutional Brokerage

The company launched in 2018 with a promise to combine low‑cost trading and deep liquidity. By 2020 it reported roughly 33million units of daily trade volume across 85 pairs-a respectable figure for a newcomer. However, mounting regulatory pressure in Europe and the fierce competition from giants like Binance pushed the founders to rethink the model.

In July2022 BEQUANT announced it would surrender its Class4 Virtual Financial Assets Act (VFAA) licence, effectively ending the retail exchange. The remaining arm, BeQuantPro Limited, kept its Class3 licence, which authorises prime‑brokerage services. Since then the firm has doubled down on serving institutional clients, offering direct market access (DMA) to more than 13 major liquidity pools.

Regulatory Backbone: Why the MFSA Licence Matters

Operating under the MFSA gives BEQUANT a clear regulatory signal to banks and fund managers. The Malta regulator issued a Class3 licence in 2021, covering custody, trading and settlement for professional investors. This licence is separate from the now‑defunct Class4 exchange licence and aligns with the European Union’s MiCA framework, which aims to bring crypto services under a consistent set of rules.

Beyond the licence, BEQUANT maintains ISO27001 certification, meaning its information‑security management system meets internationally recognised standards. For an institutional client, this combination-licensed brokerage plus proven security controls-often outweighs raw liquidity numbers.

Fee Structure: How Cheap Is “Cheap”?

When you compare fee tables, BEQUANT’s maker fee of 0.01% is hard to beat. Most large exchanges charge at least 0.02% for makers, and many tiered‑pricing models only lower fees after hitting high monthly volumes. BEQUANT’s taker fee sits at 0.10%-still competitive, though a touch higher than some zero‑fee taker promotions you’ll see on Binance.

Because the platform only serves institutions, there’s no tiered discount based on retail trading volume. Instead, large‑scale traders negotiate bespoke fee schedules directly with the brokerage desk. This bespoke approach can push fees even lower for high‑frequency desks that execute millions of dollars per day.

Technology Stack: Low‑Latency Trading for Professionals

BEQUANT built its core around co‑located servers in the Equinix LD4 data centre in London, placing the matching engine just metres away from major liquidity providers. This architecture enables sub‑millisecond order execution-a critical factor for high‑frequency trading (HFT) strategies.

The platform supports three connectivity options:

  • FIX4.4 for institutional order routing, handling up to 1,000transactions per second.
  • WebSocket streams for real‑time market data, ideal for algorithmic bots that need low‑latency price feeds.
  • REST APIs for more traditional integration, such as portfolio management tools.

Documentation is thorough, with sample code in Python, Java and C++. For firms that run their own matching engines, the ability to co‑locate and use FIX makes BEQUANT a natural plug‑in.

Liquidity and Market Access

Liquidity and Market Access

At its peak, BEQUANT claimed a top‑10 global liquidity ranking, feeding order books from 13 major pools including Binance, Coinbase Pro, Kraken and various OTC desks. While independent verification is scarce, the platform’s DMA model does give institutional traders direct line‑of‑sight to these pools, reducing the “layer‑cake” effect where retail exchanges add markup on top of raw liquidity.

The downside is that BEQUANT no longer offers retail‑focused features such as a mobile app, staking services or a broad language selection. If you’re a casual trader who likes to trade on the go, you’ll find the platform barebones.

User Experience: What Retail Traders Saw Before the Exit

During its retail window, BEQUANT attracted a modest community. On CryptoGeek the exchange earned an average 3.8/5 rating from four reviews. Users praised the simple UI, low commission and fast execution. However, complaints centred on the lack of Russian and Asian language support and the absence of educational resources.

Customer support was limited to email and live‑chat during business hours. While the response time was generally acceptable, the limited staff meant complex issues could take a while to resolve. For an institution with a dedicated account manager, this level of support is standard, but for a retail user it felt insufficient.

Pros and Cons - A Quick Checklist

  • Pros
    • Regulated prime‑brokerage licence (MFSA Class3)
    • Ultra‑low maker fees (0.01%)
    • Co‑located low‑latency infrastructure
    • Robust FIX4.4 API for institutional trading
    • ISO27001 security certification
  • Cons
    • No retail access since August2022
    • Lacks mobile app and multi‑language support
    • Limited public data on liquidity rankings
    • Support geared toward institutions, not individual traders

Future Outlook: Where Is BEQUANT Headed?

As of October2025, BEQUANT’s business model is firmly rooted in institutional crypto services. The global prime‑brokerage market is projected to grow above 20% CAGR through 2030, driven by higher adoption of digital assets by hedge funds and family offices. BEQUANT’s ISO27001 certification, MFSA licence and low‑latency tech stack position it well to capture a slice of that growth.

However, competition is heating up. Traditional finance firms like Goldman Sachs and JPMorgan are rolling out their own crypto prime‑brokerage desks, leveraging massive capital and brand trust. To stay relevant, BEQUANT will need to keep innovating-perhaps by expanding custody solutions, adding on‑chain analytics, or partnering with DeFi liquidity providers.

BEQUANT vs. Major Crypto Exchanges

Comparison of BEQUANT with Leading Exchanges (2025)
FeatureBEQUANTBinanceCoinbaseKraken
Primary Market FocusInstitutional Prime BrokerageRetail + InstitutionalRetail + InstitutionalRetail + Institutional
Regulatory LicenceMFSA Class3 (prime brokerage)Various global licencesNYDFS, FCA, othersFinCEN, EU licences
Maker Fee0.01%0.02%‑0.04%0.00%‑0.50%0.00%‑0.26%
Taker Fee0.10%0.04%‑0.10%0.00%‑0.55%0.10%‑0.26%
API ProtocolsFIX4.4, WebSocket, RESTREST, WebSocketREST, WebSocketREST, WebSocket
Custody SolutionThird‑party + in‑houseBinance CustodyCoinbase CustodyKraken Custody
Mobile AppNoYesYesYes
Language SupportEnglish only20+ languages12+ languages15+ languages

Next Steps for Different Readers

If you’re an institutional decision‑maker, the logical next move is to request a demo from BEQUANT’s sales team. Bring your compliance checklist, expected trade volume and latency requirements; the broker will tailor a fee schedule and discuss custody options.

If you’re a retail trader still looking for a place to buy crypto, you’ll need to look elsewhere. Platforms like Binance or Kraken offer the mobile experience and multilingual support you’ll miss on BEQUANT.

For developers interested in building algo‑trading bots, start by testing the FIX4.4 sandbox (available on request). The documentation includes sample order types, heartbeat messages and error handling best practices.

Frequently Asked Questions

Frequently Asked Questions

Why did BEQUANT shut down its retail exchange?

Regulatory costs in the EU grew sharply, and competition from giant exchanges made it hard for a midsize player to stay profitable. Pivoting to a regulated prime‑brokerage allowed BEQUANT to focus on higher‑margin institutional business.

Is BEQUANT safe for institutional funds?

Yes. The firm holds a Class3 licence from the MFSA, follows ISO27001 security standards, and uses co‑located servers in a TierIII data centre. These factors collectively meet most institutional risk‑control frameworks.

Can I trade on BEQUANT with a mobile phone?

No. The platform does not offer a mobile app or responsive web UI. Trading is intended for desktop workstations or server‑based algo solutions.

How do BEQUANT’s fees compare to Binance?

BEQUANT’s maker fee of 0.01% is lower than Binance’s typical 0.02%‑0.04% range. Taker fees are similar, with BEQUANT at 0.10% versus Binance’s 0.04%‑0.10% depending on volume.

What KYC/AML steps are required to open an account?

Clients must submit corporate documents, proof of address, source‑of‑funds statements, and undergo a full AML screening performed by the MFSA‑approved compliance team.

Post Comment
Comments (17)
  • Stefano Benny

    From a liquidity‑engine perspective, BEQUANT's FIX4.4 gateway essentially reduces order‑to‑execution latency to sub‑millisecond levels, which is a game‑changer for high‑frequency desks. Their maker rebate of 0.01% can be modelled as a negative slippage factor in a Markov decision process, yielding a theoretical Sharpe uplift of ~0.12% on a 10‑BPS risk budget. Moreover, the coexistence of a Tier‑III co‑located data centre and ISO27001 compliance creates a multi‑layered risk mitigation matrix that’s rare outside the big‑four custodians. APIs are versioned at 1.4 with deterministic heartbeat intervals, reducing jitter to under 2 ms on average. While the taker fee sits at 0.10%, the net cost curve flattens after ~5 M USD daily volume due to volume‑based rebates that tier down to 0.07%. In short, the architecture aligns with a micro‑service paradigm that can be containerized for elastic scaling-ideal for institutional quant teams. 🚀📈

  • Jayne McCann

    Honestly, the low maker fee sounds great but you still need to think about the lack of a mobile app – that’s a real downer for anyone who wants to keep an eye on trades on the go.

  • Richard Herman

    Both points highlight a common theme: the platform excels for firms that value deep‑market access, yet it drops the ball for casual users. If a hedge fund can plug BEQUANT into its existing order‑management system, the synergy can be immediate. On the other hand, a retail trader will find the UI a bit spartan, which can hinder adoption. Balance is key, and the trade‑off becomes a strategic decision for each organization.

  • Bobby Ferew

    The security stack, while ISO27001‑certified, still relies heavily on third‑party custodians. That introduces an external attack surface that some risk teams might find uncomfortable. In addition, the absence of multi‑factor authentication beyond hardware tokens could be a blind spot for certain compliance frameworks. Still, the overall architecture feels robust enough for most institutional risk appetites, provided they run their own due‑diligence on the custodial partners.

  • celester Johnson

    One might say that BEQUANT’s journey mirrors the ancient paradox of the river: you cannot step into the same water twice, yet the current persists. Their shift from retail to prime‑brokerage reflects a philosophical realignment with the immutable law of specialization. In a world where every exchange claims “universal access,” BEQUANT chooses depth over breadth – a decision that, while seemingly austere, resonates with the Stoic ideal of focusing on what you can master rather than what is merely popular.

  • Debby Haime

    Hey team, if you’re looking to boost your crypto execution pipeline, consider running a pilot with BEQUANT’s sandbox. Their support team will walk you through the FIX onboarding, and you can measure latency against your current ECN in just a few days. The low maker fee can translate into real cost savings on high‑volume strategies, so give it a spin!

  • Andy Cox

    Just a heads up the UI feels clean and you don’t have to scroll forever for the order book

  • Courtney Winq-Microblading

    Think of BEQUANT as a sleek yacht cutting through a foggy sea of liquidity – it’s built for precision, not for the leisurely cruise. The lack of a mobile app is like leaving the deck unattended; the vessel excels when you’re on deck, but you won’t be able to steer it from the cabin. Still, the ISO27001 flag on its hull guarantees a sturdy hull against cyber‑storms. For the adventurous quant, it’s a vessel worth boarding.

  • katie littlewood

    When I first read the BEQUANT review, my mind wandered to the broader tapestry of crypto market evolution, and I couldn’t help but notice how this platform seems to be a micro‑cosm of the industry’s tug‑of‑war between democratization and professionalization. On one hand, the razor‑thin maker fee of 0.01% is a beacon for anyone who has ever dreamed of slashing transaction costs to the point where the expense becomes almost negligible, an aspiration that resonates deeply with the early pioneers of the space. On the other hand, the decision to abandon retail services altogether feels like a stark reminder that the once‑open frontier is narrowing, catering more and more to entities that can shoulder the compliance burden and the capital requirements. This duality is not just a business choice; it’s a philosophical statement about who gets to participate in the next wave of financial innovation. The regulatory underpinning, coming from the Malta Financial Services Authority, adds a layer of credibility that many newer exchanges lack, yet it also introduces a jurisdictional nuance that can be both comforting and confining, depending on the perspective of the investor. When we examine the technology stack – FIX4.4, WebSocket, REST – we see a deliberate alignment with the tools that institutional traders are already comfortable with, a sort of lingua franca that reduces friction for integration, which is a thoughtful design consideration that many retail‑focused platforms overlook. However, the omission of a mobile application is a glaring omission for the modern trader who expects to monitor positions on the go, turning what could be a seamless experience into a fragmented one. Security wise, the ISO27001 certification is commendable, providing an internationally recognized framework for information security management, but it should not become a badge that the platform relies upon solely, as the evolving threat landscape demands continuous innovation. In terms of liquidity, while BEQUANT claims access to multiple pools, the opacity around actual depth makes it difficult for prospective clients to gauge true market impact, a factor that sophisticated algo‑trading desks will scrutinize intensely. Additionally, the bespoke fee negotiation model is a double‑edged sword: it offers the potential for further reductions for high‑volume traders, yet it also introduces an element of uncertainty that new entrants may find intimidating. As we ponder the future, the question becomes whether BEQUANT will expand its service offering to include features like on‑chain analytics or diversified custody solutions, areas that could solidify its position as a holistic institutional hub. In summary, BEQUANT stands at a crossroads where the convergence of low fees, robust infrastructure, and regulatory legitimacy could propel it to become a cornerstone of institutional crypto trading, provided it addresses the gaps in user experience and transparency that currently linger on the periphery.

  • Jenae Lawler

    It is with profound disappointment that I observe the glaring omission of multilingual support on a platform that purports to serve a global institutional clientele. Such a deficiency not only betrays a parochial mindset but also undermines the very ethos of financial inclusivity championed by progressive markets.

  • Chad Fraser

    Alright folks, if you're hunting for a crypto broker that actually respects your time, BEQUANT’s low fees and FIX API are a solid bet. Give it a shot and see how much edge you can squeeze out of those sub‑millisecond trades.

  • Parker Dixon

    💡 Pro tip: when you request a demo, ask for a latency test against your current venue. The FIX4.4 connection can be benchmarked with a simple ping‑pong script, and you’ll instantly spot any hidden slippage. Also, don’t forget to inquire about their custodial insurance coverage – it’s a non‑negotiable for most compliance teams. 👍

  • Prince Chaudhary

    The most effective way to assess BEQUANT’s suitability is to map your firm’s regulatory checklist against the MFSA Class 3 requirements, then run a pilot with a modest allocated notional. This structured approach minimizes exposure while delivering concrete performance data.

  • John Kinh

    Looks like they just copied the fee table from somewhere else. 🙄

  • Mark Camden

    From a compliance standpoint, any institution that fails to verify BEQUANT’s custodial segregation practices is effectively ignoring a fundamental principle of fiduciary duty. It is incumbent upon risk committees to demand full audit trails and multi‑signature controls before allocating capital.

  • Evie View

    Honestly, the whole premise of “elite” access feels like a thinly veiled excuse to charge hidden fees. If they’re so confident in their security, let the public audit their code and stop hiding behind regulatory jargon.

  • Sidharth Praveen

    Looking ahead, the combination of low latency, regulatory clarity, and scalable APIs positions BEQUANT as a strong contender for firms aiming to expand their crypto exposure responsibly.