Toobit review: a low-fee, TradFi-heavy derivatives exchange with named audits and a live reserve page, but no major licence, modest reserves and recurring withdrawal-hold complaints.
Twenty-seventh in our Crypto Centralized Exchanges series. Toobit, founded in October 2022 and based in the Cayman Islands, charges 0.075% / 0.10% on spot and 0.02% / 0.06% on futures, ran a zero-fee spot promotion to September 26, 2026, lists a very wide pair set including 150+ TradFi pairs, and offers zero-slippage copy trading. We found no publicly disclosed hack, and it cites Hacken, Beosin and SlowMist work and a live Proof of Reserves page launched in May 2026. It holds no licence from a major regulator, tracked reserves are small, there is no auditable hot-wallet split, US users are excluded, and Trustpilot shows about 2.8 out of 5 with repeated complaints about withdrawal holds. We weighted all of it.
Our take, up front: Toobit, founded in October 2022 and based in the Cayman Islands, is a derivatives-first exchange with low fees (0.075% / 0.10% spot, 0.02% / 0.06% futures, and a zero-fee spot promotion that ran to September 26, 2026), a very wide pair list, 150+ TradFi pairs and zero-slippage copy trading. We found no publicly disclosed hack, and it cites Hacken, Beosin and SlowMist work plus a live Proof of Reserves page launched in May 2026. The weaknesses are plain: no licence from a major regulator, modest tracked reserves, no auditable hot-wallet split, US users excluded, and recurring complaints about withdrawal holds after profits. We score it 54, twenty-first of twenty-seven: just behind Bithumb and ahead of Binance.US.
Toobit has more named security work than most young offshore exchanges, but the numbers behind it are small and mostly self-reported. Coin Bureau’s February 2026 safety review lists Hacken and Beosin audits and found no publicly disclosed hack, and Toobit also cites SlowMist for regular checks and an Elliptic partnership for AML monitoring. In a May 2026 press release Toobit said it earned an AAA security rating from CER.live (company-reported). Messari notes a dynamic Proof of Reserves page with live monitoring and user verification launched on May 12, 2026, and Cryptonews, an affiliate-style review site, reports a Hacken PoR audit confirming reserve ratios above 100% in May 2026, which we could not load directly. On June 15, 2026 Toobit announced a $50 million Shield Fund (company-reported). Against that, tracked on-chain reserves are modest: CoinGecko showed about $63.5 million in February 2026 and CoinMarketCap figures ranged from about $62 million to $77 million, against claimed trading volumes in the billions. Coin Bureau and Coinotag both note that Toobit does not publish an auditable hot-versus-cold wallet split or its withdrawal-approval controls, and FXEmpire noted the lack of deposit insurance in June 2025.
Pros
- No publicly disclosed hack; Hacken, Beosin and SlowMist work cited
- Live Proof of Reserves page (May 2026) and a $50M Shield Fund (company-reported)
Cons
- Tracked reserves of roughly $62M to $77M are small next to claimed volume
- No auditable hot-versus-cold split or deposit insurance
Toobit is an offshore exchange without a licence from a major regulator. It was founded in October 2022 and is based in George Town, Cayman Islands; Coin Bureau reports that Toobit’s legal statement names Hopeful Technology as the Cayman entity and a Polish company, ELYNDRET sp. z o.o., as a related entity. Toobit holds an active US FinCEN money services business registration, which Coin Bureau stresses is a registration and not a consumer-protection licence, and it suspended US trading on August 1, 2024. A promotional review hosted on MEXC mentions a Polish VASP registration, which we could not verify. We found no MiCA authorisation and no CIMA licence. Restricted jurisdictions include Belarus, Cuba, North Korea, Israel, Myanmar, Sudan, South Sudan, Syria, Venezuela, Yemen and China per Coin Bureau, while CoinMarketCap lists Iraq and Congo, FXEmpire noted no restricted list in June 2025, and the terms let Toobit add more. No regulator enforcement action turned up in the sources we reviewed.
Pros
- No regulator enforcement action found in the sources we reviewed
- US FinCEN MSB registration; US users excluded since August 2024
Cons
- No licence from a major regulator; Polish registration unverified
- Restricted-country lists differ by source and can expand
Toobit’s fees are low and, for now, often zero. FXEmpire and Traders Union cite 0.075% maker and 0.10% taker spot fees, and TradingFinder shows ranges from 0.20% down to 0.008% for spot and 0.02% down to 0.006% for futures across user levels. Toobit ran a zero maker and taker spot promotion until September 26, 2026 (company press release, August 13, 2026), and Cryptonews says the promotion was active in June 2026, so check what applies today. Cryptonews puts base perpetual fees at 0.02% maker and 0.06% taker, deposits are free, and withdrawal fees reflect network costs only. Card purchases go through providers at a reported 2% to 5% (ForkLog), and bank transfers are not offered. The promotion is time-limited, and an affiliate-style source claims the zero spot fee applies at every VIP level.
Pros
- 0.075% / 0.10% spot and 0.02% / 0.06% futures at the base level
- Free deposits and zero-fee spot promotions (time-limited)
Cons
- Promotions expire and VIP-level claims differ by source
- Cards cost a reported 2% to 5%; no bank transfers
Coverage is broad and increasingly TradFi-oriented. Toobit says it offers over 1,000 trading pairs, Coin Bureau repeats 1,300+ pairs as a platform-supplied figure, and FXEmpire counted 380+ cryptocurrencies and 600+ pairs in June 2025, so the number is unreconciled. Leverage is described as up to 200x (CoinMarketCap, Coin Bureau), while a CryptoPotato piece syndicated on KuCoin cites 500x and TradingFinder lists 150x. Toobit launched tokenized stock futures on February 5, 2026, and Cryptonews counts 150+ USDT-settled TradFi pairs covering US stocks, forex and metals after additions in May 2026. Copy trading, trading bots and the Synapse AI co-pilot round out the toolkit. There is no P2P, and Coin Bureau notes fiat is cards-only with no bank withdrawals.
Pros
- 1,000+ pairs claimed and 150+ USDT-settled TradFi pairs
- Copy trading, bots and AI trading tools
Cons
- Coin, pair and leverage figures conflict across sources
- No P2P; fiat is cards-only
The experience is trader-focused and quick to start. Registration needs only an email, KYC is optional at first, and Coin Bureau reports withdrawal ceilings of 5 BTC per 24 hours for basic accounts and 50 BTC for advanced verification. FXEmpire scored the platform 4.0 out of 5 in June 2025, with 4.2 for trading experience but only 2.6 for deposits and withdrawals. Coin Bureau calls the interface beginner-friendly with guided tutorials, and Toobit runs iOS and Android apps in several languages. The Synapse AI co-pilot adds position analysis, and scaled orders arrived on November 5, 2026 (via FF News). The weak spot is the exit: strict risk controls can freeze accounts after a profitable trade, which we cover under support.
Pros
- Email sign-up and optional KYC; guided tutorials and AI trading tools
- FXEmpire rates trading experience 4.2 out of 5 (June 2025)
Cons
- FXEmpire rates deposits and withdrawals only 2.6 out of 5
- Risk-control holds can interrupt profitable accounts
Support is the weakest part of the scorecard. Coin Bureau reported a Trustpilot score of 2.8 out of 5 on 107 reviews as of February 6, 2026, up from 2.9 on 79 reviews in an earlier review, while a Traders Union page cites 3.8 out of 5 on 108 reviews, so the sources conflict. We could not load Trustpilot directly, but regional page snippets show a steady run of one-star reviews through September 2026, with Toobit replying to many. The recurring complaint, noted by Coin Bureau, Coinotag and a MEXC-hosted review, is a profit followed by a withdrawal request and then a risk-control hold; one January 2026 reviewer says funds were withheld because lifetime withdrawals exceeded deposits, and another reviewer alleges Toobit offered a trading voucher only if a review was deleted. These are individual claims we could not verify, and a Trustpilot guideline notice appeared in a page snippet. Live support is described by one reviewer as chatbot-like.
Pros
- Toobit replies publicly to many Trustpilot reviews
- Ticket system and Telegram support channels
Cons
- Trustpilot about 2.8 out of 5 (Feb 2026); other sources conflict
- Repeated withdrawal-hold complaints after profits; individual claims unverified
Toobit’s extras are product-led rather than token-led. It runs a launchpad (a February 2026 FWX campaign followed a fully subscribed launchpad sale, per CoinGape), copy-trading contests with prize pools such as a $150,000 USDT tournament, trading bots and the Synapse AI co-pilot, with zero-slippage copy trading on 150 pairs. BeInCrypto lists copy-trading profit sharing of up to 15%. The company also promotes awards and sponsorships, including Hedgeweek recognition, a CoinGape award and TOKEN2049 Singapore Platinum sponsorship in October 2026, all through company press releases. We did not find a native token, wallet or chain of the kind larger exchanges operate.
Pros
- Zero-slippage copy trading on 150 pairs and a launchpad
- Bots and an AI co-pilot
Cons
- No native token, wallet or chain found
- Contests, awards and sponsorships are company-promoted
A low-fee, derivatives-first exchange with 150+ TradFi pairs and copy trading, but weigh the missing major licence, the modest reserves and the withdrawal-hold complaints.
Toobit suits experienced derivatives and TradFi-futures traders outside restricted regions who want low fees, a very wide pair list and copy trading, and who accept offshore, unlicensed oversight. Test a small withdrawal before sizing up, check which fee promotion currently applies, enable every security control, avoid keeping large balances on the platform, and keep long-term holdings in self-custody.
Twenty-first of twenty-seven: low fees, a wide pair list and a live reserve page, but no major licence, modest reserves and recurring withdrawal-hold complaints.
Toobit scores 54, just behind Bithumb (55.5) and ahead of Binance.US (53.75), Phemex (52.5), Bitrue (51.25), BloFin (51), LBank (50.5) and HTX (45.5); it trails Kraken (74), Bitvavo (70), Coinbase (69.25), OKX (69), Crypto.com (67.75), Bybit and Gate (66), Upbit (64.5), WhiteBIT (64.25), Bitpanda (63.75), Binance (61.25), Bitget (59.5), BingX (59.25), Robinhood Crypto (59), Bitfinex (58.75), KuCoin (58.5), MEXC (58), Bitstamp (57.75) and Gemini (57.25). It earns its marks on low fees, a very wide pair list with 150+ TradFi pairs, copy trading, no disclosed hack and a live reserve page. It loses ground on the absence of any major licence, modest tracked reserves, no auditable hot-wallet split and a Trustpilot score near 2.8 out of 5 with repeated withdrawal-hold complaints. Revisit the score if Toobit obtains a major licence, publishes an independent audit of its reserves or resolves the withdrawal complaints.
The scorecard above is deliberately general. Whether Toobit is right for you depends on where you live, how much leverage you use and how much risk you accept from an unlicensed offshore venue with recurring withdrawal-hold complaints.
The active futures and TradFi trader
Low futures fees, high leverage and 150+ USDT-settled stock, forex and metals pairs suit people who already manage leveraged risk.
The copy trader who tests first
Zero-slippage copy trading on 150 pairs is a real draw, so long as you start small, check lead traders and test a withdrawal early.
The bargain hunter
Zero-fee spot promotions and free deposits are attractive, but they are time-limited and sit next to unlicensed, offshore oversight.
The US resident, or the profit-taker who needs reliable exits
US users are excluded, and recurring reports of holds after profitable trades make large balances a poor idea.
These four tables cover the specifics we didn't want to bury in prose: the fee picture, the reserves and incident timeline, regulatory footprint, and how the exchanges in this series compare.
What Toobit charges (and where sources conflict)
| Item | Maker | Taker | Source note |
|---|---|---|---|
| Spot, base | 0.075% | 0.10% | FXEmpire and Traders Union; TradingFinder shows 0.20% down to 0.008% across levels |
| Spot promotion | 0% | 0% | Company release, Aug 13, 2026: ran to Sept 26, 2026; an affiliate-style source says every VIP level |
| Perpetual futures, base | 0.02% | 0.06% | Cryptonews; TradingFinder shows 0.02% down to 0.006% across levels |
| Deposits | Free | Free | Cryptonews |
| Withdrawals | Network fee | Network fee | Cryptonews; amounts vary by coin and network |
| Card purchases | 2% to 5% | 2% to 5% | ForkLog; set by the payment provider |
| Copy trading | Free to copy | Up to 15% | BeInCrypto; the percentage is the lead trader’s profit share and varies |
| Withdrawal limits | 5 BTC / 24h | 50 BTC / 24h | Coin Bureau; basic versus advanced verification; FXEmpire cites older, lower limits |
We could not load Toobit’s live fee schedule, only third-party summaries. Promotional and affiliate-style pages were excluded or used only where labelled, and a CryptoPotato piece citing 500x leverage was set aside as conflicting. Check current figures before trading.
Security, reserves and incident timeline
| Date | Event | Detail |
|---|---|---|
| Oct 2022 | Launch | CoinMarketCap lists an October 2022 launch; Toobit ran an official launch campaign on March 1, 2023 |
| Aug 1, 2024 | US exit | Toobit suspends US trading (Coin Bureau) |
| Jan 2025 to Sep 2026 | Withdrawal complaints | Trustpilot reviews dated Jan 2025, Mar 2025, Dec 2025, Jan 2026, Apr 2026 and Sep 2026 describe holds after profitable trades; individual claims, unverified |
| Feb 5, 2026 | Stock futures | Tokenized stock futures launched (company) |
| May 8, 2026 | CER.live rating | Toobit announces an AAA security rating (company-reported) |
| May 12, 2026 | Live PoR page | Dynamic Proof of Reserves page with live monitoring and user verification (Messari); Cryptonews reports a Hacken audit above 100% |
| Jun 15, 2026 | Shield Fund | $50 million fund announced as part of a security upgrade (company-reported) |
| Aug 13 to Sep 26, 2026 | Zero-fee spot promotion | Zero maker and taker fees on spot pairs (company release) |
| To date | Confirmed hacks | None found in the sources we reviewed; absence of reports is not proof of strong controls |
Tracked reserves were roughly $62 million to $77 million depending on the source and date, and Toobit does not publish an auditable hot-versus-cold wallet split or its withdrawal-approval controls. We could not open the audit reports themselves.
Where Toobit stands with regulators
| Region | Status |
|---|---|
| Company | Founded October 2022; George Town, Cayman Islands; Hopeful Technology named as the Cayman entity and ELYNDRET sp. z o.o. as a Polish related entity (Coin Bureau, citing Toobit’s legal statement) |
| Major regulators | No licence found from a major regulator; no enforcement action found in the sources we reviewed |
| Cayman Islands | Offshore base; no CIMA licence found |
| United States | FinCEN MSB registration (a registration, not a consumer-protection licence); US trading suspended Aug 1, 2024 |
| Poland | VASP registration mentioned in a promotional MEXC-hosted review; unverified |
| Europe | No MiCA authorisation found |
| Restricted | Belarus, Cuba, North Korea, Israel, Myanmar, Sudan, South Sudan, Syria, Venezuela, Yemen and China (Coin Bureau); CoinMarketCap also lists Iraq and Congo; the terms allow more |
Registration claims differ by source and could not be verified on registries. Verify any licence on the relevant regulator’s register before relying on it.
Series 10 so far
| Binance | Kraken | Coinbase | Gate | OKX | Bybit | MEXC | HTX | Bitfinex | Bitget | Crypto.com | Bitrue | Binance.US | KuCoin | Bitstamp | Gemini | Upbit | Bitvavo | Bitpanda | Robinhood | Bithumb | BingX | Phemex | LBank | WhiteBIT | BloFin | Toobit | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Security (30) | 5.5 | 8.0 | 7.5 | 6.5 | 7.5 | 6.5 | 6.0 | 4.5 | 5.5 | 5.0 | 7.0 | 4.5 | 4.5 | 6.5 | 6.0 | 6.5 | 6.5 | 7.0 | 6.0 | 6.0 | 5.0 | 5.5 | 5.0 | 4.5 | 6.5 | 5.5 | 5.5 |
| Regulation (20) | 4.0 | 8.5 | 8.5 | 6.5 | 6.0 | 6.5 | 3.0 | 2.0 | 4.5 | 5.5 | 8.0 | 3.5 | 5.0 | 3.5 | 8.0 | 7.0 | 6.5 | 8.0 | 7.0 | 7.0 | 4.5 | 5.0 | 3.0 | 3.0 | 6.0 | 2.5 | 3.0 |
| Fees (15) | 8.5 | 6.0 | 4.5 | 7.0 | 7.5 | 7.0 | 8.0 | 5.5 | 9.0 | 6.5 | 5.5 | 6.5 | 9.0 | 6.5 | 5.0 | 4.0 | 8.5 | 7.0 | 5.0 | 4.5 | 8.0 | 7.0 | 7.0 | 7.0 | 7.5 | 7.0 | 7.5 |
| Coverage (10) | 9.5 | 8.0 | 7.5 | 9.5 | 8.0 | 8.0 | 9.5 | 8.0 | 6.5 | 8.5 | 8.0 | 8.0 | 5.5 | 9.0 | 5.0 | 5.5 | 6.5 | 7.0 | 8.5 | 5.5 | 6.5 | 8.5 | 8.0 | 8.5 | 6.5 | 7.0 | 8.0 |
| Experience (10) | 7.0 | 7.5 | 8.0 | 7.0 | 7.5 | 7.5 | 7.0 | 6.5 | 6.5 | 7.5 | 7.5 | 7.0 | 7.0 | 7.0 | 6.0 | 7.0 | 7.0 | 8.0 | 8.0 | 8.0 | 6.0 | 7.5 | 7.0 | 6.5 | 7.0 | 6.5 | 7.0 |
| Support (10) | 3.5 | 4.5 | 3.0 | 2.5 | 3.5 | 3.5 | 2.0 | 2.0 | 3.0 | 3.5 | 2.5 | 2.5 | 2.0 | 2.5 | 3.0 | 2.0 | 3.0 | 4.5 | 4.0 | 3.0 | 4.5 | 2.5 | 2.5 | 2.0 | 4.5 | 2.5 | 2.0 |
| Ecosystem (5) | 8.0 | 8.0 | 9.0 | 8.0 | 8.5 | 8.0 | 7.0 | 6.5 | 7.5 | 8.5 | 9.0 | 7.0 | 4.5 | 7.5 | 4.5 | 6.5 | 5.5 | 6.0 | 7.5 | 7.5 | 5.0 | 7.5 | 7.0 | 7.0 | 7.0 | 6.0 | 6.5 |
| Our score | 61.25/100 | 74/100 | 69.25/100 | 66/100 | 69/100 | 66/100 | 58/100 | 45.5/100 | 58.75/100 | 59.5/100 | 67.75/100 | 51.25/100 | 53.75/100 | 58.5/100 | 57.75/100 | 57.25/100 | 64.5/100 | 70/100 | 63.75/100 | 59/100 | 55.5/100 | 59.25/100 | 52.5/100 | 50.5/100 | 64.25/100 | 51/100 | 54/100 |
Category scores are out of 10 and weighted as shown, taken from each review in this series.
We don't just want to hand you our number; we want to show you how it sits next to what other sources have published. Round-ups like the low fees, TradFi pairs and copy trading, but consumer ratings and regulatory commentary are harsh, and our score lands above the blended figure.
Our score lands above the aggregated figure, because the missing licence, modest reserves and withdrawal-hold complaints pull the blend down, while our scorecard credits the low fees, the wide product set and the absence of any disclosed hack.
| Source | Score | Type |
|---|
Scores compiled by our editorial team from publicly available reviews as of November 2026. "Estimate" means the source didn't publish a single numeric score, so we converted its published verdict and sentiment into a comparable 100-point figure. Verify current figures directly with each source before citing them elsewhere.
We found no publicly disclosed hack, and Toobit cites Hacken, Beosin and SlowMist work and a live Proof of Reserves page launched in May 2026. It is an offshore Cayman exchange with no licence from a major regulator, tracked reserves of roughly $62 million to $77 million and recurring withdrawal-hold complaints, so keep only what you need on the platform.
Not from a major regulator. Toobit holds a US FinCEN money services business registration, which Coin Bureau stresses is a registration and not a consumer-protection licence, and it suspended US trading on August 1, 2024. A Polish VASP registration appears in a promotional review that we could not verify, and we found no MiCA authorisation.
Yes. Messari notes a dynamic Proof of Reserves page with live monitoring and user verification launched on May 12, 2026, and Cryptonews reports a Hacken audit confirming ratios above 100% in May 2026, which we could not load directly. Tracked wallet balances were roughly $62 million to $77 million depending on the source, and Toobit does not publish an auditable hot-versus-cold wallet split.
Spot fees are quoted at 0.075% maker and 0.10% taker, and Toobit ran a zero maker and taker spot promotion until September 26, 2026. Perpetual futures are 0.02% maker and 0.06% taker at the base level per Cryptonews. Deposits are free and withdrawal fees reflect network costs, while card purchases cost a reported 2% to 5%. Check the live schedule, because promotions and tiers change.
No. Toobit suspended US trading on August 1, 2024. Other restricted jurisdictions include Belarus, Cuba, North Korea, Israel, Myanmar, Sudan, South Sudan, Syria, Venezuela, Yemen and China per Coin Bureau, though lists differ by source and the terms let Toobit add more.
Coin Bureau, Coinotag and a review hosted on MEXC all describe a recurring pattern on Trustpilot: a profitable trade, a withdrawal request, then a risk-control hold with limited explanation. These are individual claims we could not verify, and Toobit replies to many reviews, but the pattern is a reason to test small withdrawals first and avoid large balances.
Yes. Toobit launched tokenized stock futures on February 5, 2026, and Cryptonews counts 150+ USDT-settled TradFi pairs covering US stocks, forex and metals. Copy trading offers zero slippage on 150 pairs, with profit sharing of up to 15% per BeInCrypto. Leveraged and copy trading can lose money quickly.
Toobit scores 54 against BloFin’s 51. Toobit has the wider pair list, TradFi products, named audits and a higher Trustpilot score; both are offshore with no major licence, and both draw withdrawal and support complaints.
More Reviews
Upbit – CEX Review
Upbit Exchange Review: Scored Out of 100 (November 2026) | The Block Note The Block Note Scorecard Sign up Verdict Details vs. Market FAQ...
Read MoreCoinSpot – CEX Review
CoinSpot Exchange Review: Scored Out of 100 (November 2026) | The Block Note The Block Note Scorecard Sign up Verdict Details vs. Market FAQ...
Read More
Binance – CEX Review
Binance leads centralized crypto exchanges with high liquidity, low fees, and vast token support; setting the benchmark for speed, security, and global access.
Read MoreBitvavo – CEX Review
Bitvavo Exchange Review: Scored Out of 100 (November 2026) | The Block Note The Block Note Scorecard Sign up Verdict Details vs. Market FAQ...
Read More