Wallex exchange review
An Iranian exchange with competitive fees and a more professional market.
Bitfa rating: 4.4 out of 5
Wallex at a glance
Wallex review
Wallex has been active since 2018 and, after Nobitex, is one of the most widely used Iranian exchanges. A lower base fee and better-organized trading tools have led part of the rial market's professional traders to prefer Wallex.
Like other Iranian exchanges, Wallex offers direct toman deposits and withdrawals, and identity verification with Iranian documents is mandatory.
History of Wallex
Wallex has been operating since 2018 and is based in Tehran. From the start, its strategy was to attract the rial market's more serious traders, with a lower base fee, a tidier trading panel and more professional tools than its rivals.
That focus has made Wallex, alongside Nobitex, one of the two main choices for rial traders, handling a significant share of the market's toman↔USDT conversion volume.
Is Wallex suitable for Iranian users?
Wallex security
Two-factor authentication
Logins and withdrawals are protected with 2FA.
Cold storage
Most user assets are kept offline.
Multi-step withdrawal confirmation
Withdrawals to a new address require email/SMS confirmation.
Transaction monitoring
Suspicious patterns are tracked and blocked preemptively.
Trading pairs on Wallex
More than 300 coins are available on Wallex, with toman and USDT pairs.
- Toman markets: rial pairs for the major coins with competitive spreads.
- USDT markets: dollar-based trading for more advanced traders.
Wallex features
Professional trading panel
A full order book, multiple order types and advanced charting.
Competitive fees
An entry tier of 0.25% — lower than Nobitex.
Toman deposits and withdrawals
Shetab gateway and fast bank settlement.
Mobile app
Full-featured Android and iOS apps.
Trading API
For bots and algorithmic trading in the rial market.
Wallex fees
| Trading fees | Tiered — starts at 0.25% and falls as your volume grows |
|---|---|
| Toman deposit | Shetab gateway (gateway fee) |
| Toman withdrawal | In line with standard bank charges |
| Crypto deposit | Free |
| Crypto withdrawal | Varies by network |
Wallex pros and cons
✔ Pros
- Lower base fee than Nobitex
- Toman deposits and withdrawals
- Tidy, professional trading panel
- Responsive support
✖ Cons
- Less market depth than Nobitex on some pairs
- No futures
🔍 This review is based on real testing by the Bitfa team (sign-up, deposit, trading and withdrawal with our own money) and is updated whenever the exchange's conditions change.
The Wallex app and its features
The Wallex app offers a clean, fast experience for rial trading and is built for active traders in the toman market.
- ✔ Pro market with charts
- ✔ Fast buying and selling
- ✔ In-app deposits and withdrawals
- ✔ Price alerts
Step-by-step guide to signing up on Wallex
Go to the exchange's website
Use the sign-up button on this page to go to the exchange's official website.
Create an account
Sign up with your mobile number and enter the SMS verification code.
Identity verification (KYC)
Upload your national ID number and identity documents; approval usually takes a few hours.
Deposit and start trading
Deposit toman through the bank gateway and make your first purchase.
How to deposit, withdraw and trade on Wallex
How to sign up on Wallex
- Sign up with your mobile number and confirm the SMS code.
- Complete identity verification with your national ID number and documents, and register a bank card in your own name.
- Turn on 2FA and make your first toman deposit.
How to buy and transfer USDT
- Deposit toman and place a buy order in the USDT market.
- Send the USDT over the TRC20 network to your chosen global exchange — with a small amount the first time.
💡 Like other Iranian exchanges, Wallex has no futures; its role in Bitfa's plan is a lower-fee rial gateway.
Is Wallex good for trading? (Bitfa's verdict)
If fees matter to you and you trade significant rial volumes, Wallex, with its 0.25% entry tier, is a more economical choice than Nobitex; on the other hand, some of its pairs have less market depth.
Many professional traders keep accounts on both and compare their live rates when converting toman↔USDT — and that's what Bitfa recommends too.
Sign up on WallexWallex FAQ
Is Wallex better than Nobitex?
Nobitex has more liquidity and market depth; Wallex has a lower base fee. Many traders use both and go with whichever offers the better live USDT price.
What are Wallex's fees?
Fees are tiered, starting at around 0.25% and falling as your volume grows.
Reviews of the top Iranian and global exchanges
⚠️ Risk warning: trading cryptocurrency, especially leveraged futures, carries high risk and may result in the loss of your capital. This page is for information only and is not investment advice. Some of the links on this page are affiliate links.