Our Methodology
Last updated: March 26, 2026
At Cex101, we believe that recommending a cryptocurrency exchange is a serious responsibility. Our users trust us to provide accurate, unbiased information about platforms where they will deposit real money. This page explains exactly how we evaluate, score, and rank exchanges.
Evaluation Criteria
Every exchange on Cex101 is evaluated across six categories, each with a specific weight in our overall score:
| Category | Weight | What We Measure |
|---|---|---|
| Security | 30% | Cold storage ratio, hack history, 2FA options, Proof of Reserves, insurance fund, regulatory licenses |
| Trading Fees | 25% | Spot maker/taker fees, withdrawal fees, hidden costs (spread, funding rates), fee reduction options |
| Token Selection | 15% | Number of listed tokens, new listing speed, trading pair availability |
| User Experience | 15% | UI/UX quality, mobile app, languages supported, demo trading, copy trading, educational resources |
| Deposit/Withdrawal | 10% | Fiat deposit methods, P2P availability, processing speed, minimum deposit |
| Track Record | 5% | Years of operation, regulatory compliance, past incidents, user base size |
Data Sources
Our evaluations are based on the following sources:
- Official exchange documentation — Fee schedules, security whitepapers, and Proof of Reserves reports published by each exchange
- Public blockchain data — On-chain verification of reserve addresses where available
- Industry aggregators — CoinMarketCap, CoinGecko, and DefiLlama for volume and liquidity data
- Hands-on checks — Where practical, we test account setup, verification flow, trading interface, and withdrawal steps for reviewed exchanges
- Regulatory databases — Checking license status with relevant financial authorities and public regulatory notices where applicable
How Scores Are Calculated
Each category is scored from 0 to 10 based on objective criteria. The overall score is the weighted average of all categories. For example:
- An exchange with no hack history, published Proof of Reserves, and insurance fund scores 9-10 on Security
- An exchange that has been hacked but recovered funds and improved security scores 6-7 on Security
- An exchange with 0% spot fees scores 10 on Trading Fees; 0.1% scores 8; 0.5%+ scores 4-5
We round the final score to one decimal place (e.g., 8.5/10).
Update Frequency
We review and update all exchange scores at least once per quarter, or immediately when a significant event occurs (security breach, major fee change, regulatory action, etc.). The "Last updated" date on each article reflects the most recent review.
Affiliate Relationship Disclosure
Cex101 may earn referral commissions from exchanges listed on this site. We manage this conflict by separating commercial placement from scoring criteria:
- Our scoring methodology is applied consistently regardless of affiliate relationship
- Compensation may influence which exchanges are covered or featured more prominently
- Affiliate income should not change the safety, fee, or risk scores we assign
- Every article clearly discloses the affiliate relationship in its footer
Limitations
- Exchange features, fees, and policies change frequently. While we strive for accuracy, there may be a lag between changes and our updates
- Our testing is based on specific account types and regions. Your experience may vary based on your location and verification level
- We do not audit exchange source code or internal infrastructure. Security assessments are based on publicly available information and track record
Feedback
If you believe any score or claim on Cex101 is inaccurate, please contact us at contact@cex101.com with supporting evidence. We take accuracy seriously and will investigate promptly.