BEQUANT Crypto Exchange Review: What Happened and Why It No Longer Serves Retail Traders

BEQUANT was once a name you’d see on lists of top crypto exchanges. But if you’re looking to trade Bitcoin or Ethereum on BEQUANT today, you won’t find it. The platform shut down its retail exchange in July 2022. That’s not a glitch. It wasn’t a hack. It was a deliberate, strategic exit from retail trading - and here’s what that means for anyone who still thinks BEQUANT is an option.

BEQUANT Was Built for Institutions, Not You

When BEQUANT launched in 2018, it didn’t try to compete with Binance or Coinbase. It didn’t offer mobile apps, one-click buys, or beginner tutorials. Instead, it targeted hedge funds, OTC desks, and algorithmic traders. Its infrastructure was built around FIX 4.4 APIs, WebSocket feeds, and co-location in Equinix LD4, London’s fastest data center. Trades executed in microseconds. Liquidity came from 13 direct market connections. This wasn’t a retail exchange - it was a professional trading floor disguised as a website.

The platform’s fee structure reflected that. Makers paid 0.01%. Takers paid 0.10%. That’s competitive, even today. But you couldn’t just sign up with an email and a credit card. You needed institutional credentials, compliance paperwork, and a reason to need direct market access. BEQUANT didn’t want casual traders. It wanted volume.

The Regulatory Pivot: Why BEQUANT Walked Away from Retail

In 2021, BEQUANT got licensed by Malta’s Financial Services Authority (MFSA). It held two licenses: Class 4 for exchange operations and Class 3 for prime brokerage. That made it one of the first regulated crypto platforms in Europe. But then, in July 2022, it did something unusual. It surrendered its Class 4 license - the one that let it serve retail traders - and kept only the Class 3 license.

That’s not common. Most exchanges try to keep both. But BEQUANT saw the writing on the wall. Retail crypto trading was getting more expensive to run. Compliance costs were rising. Customer support demands were exploding. Meanwhile, institutional demand for crypto trading services was growing fast. Hedge funds needed custody, lending, and dark pool access. Asset managers needed clean, auditable trade trails. BEQUANT decided to double down on what it did best: serving professionals.

By August 8, 2022, retail users had to withdraw all funds. No more deposits. No more trading. The exchange interface disappeared. What remained was BeQuant Pro Limited - a regulated prime brokerage firm working exclusively with institutions. If you’re not a fund, a family office, or a trading firm with legal entities and compliance teams, BEQUANT has nothing for you.

What Made BEQUANT Stand Out (Before It Shut Down)

For the traders who used it, BEQUANT had real advantages. Its low-latency setup meant HFT strategies could run smoothly. The API documentation was clear, detailed, and professional. Unlike many retail platforms that throttled API calls or blocked certain strategies, BEQUANT didn’t interfere. It just provided the pipes.

Its liquidity was strong too. At its peak, BEQUANT handled over 33 million trading units across 85 pairs. While it never ranked among the top 5 exchanges by volume, it was consistently in the top 10 for institutional-grade liquidity. That mattered to professional traders who needed depth without slippage.

Security wasn’t an afterthought. BEQUANT held ISO 27001 certification - the gold standard for information security management. That’s rare for crypto platforms, even today. Most retail exchanges brag about cold storage. BEQUANT built enterprise-grade infrastructure.

The Downsides: Why Retail Traders Never Embraced BEQUANT

Even at its peak, BEQUANT was never meant for the average crypto user. There was no mobile app. No customer support hotline. No educational content. No multilingual support - just English. That alone blocked most non-native speakers. User reviews on sites like CryptoGeek show an average rating of 3.8/5, but with only four reviews. That’s not a sign of popularity - it’s a sign of niche usage.

People who liked BEQUANT were experienced traders who knew what they were doing. They didn’t need hand-holding. They needed speed, reliability, and direct access. But if you didn’t know what FIX 4.4 was, or why co-location mattered, you were lost. The interface was clean, yes - but also bare. No charts, no indicators, no alerts. Just a terminal and an API key.

And then there was the language barrier. No Russian. No Chinese. No Spanish. For a global market, that was a huge limitation. While Binance offered 20+ languages and Coinbase supported 15+ countries with local payment rails, BEQUANT stayed rigid. It didn’t adapt. It didn’t try to grow beyond its core.

BEQUANT Today: A Prime Brokerage Firm, Not an Exchange

As of January 2026, BEQUANT operates as BeQuant Pro Limited - a regulated prime brokerage under the MFSA. It doesn’t list coins. It doesn’t run order books. It doesn’t have a trading dashboard for individuals.

Instead, it offers:

• Prime brokerage services for institutional crypto clients
• Custody solutions with segregated accounts
• Margin lending and borrowing
• OTC desk access with deep liquidity pools
• Regulated trade reporting and audit trails

Its clients are hedge funds, family offices, and crypto-native asset managers who need a compliant, low-latency, institutional-grade partner. The retail side? Gone. Permanently.

Is BEQUANT a Scam? No - But It’s Not What You Think

Some people worry that if an exchange shuts down, it must be a scam. That’s not the case here. BEQUANT didn’t vanish. It didn’t freeze funds. It didn’t disappear with user money. It followed regulatory rules, gave users a clear exit window, and pivoted to a more sustainable business model.

It’s a reminder that not all crypto platforms are built the same. Some are designed to attract millions of users. Others are built to serve a few hundred institutions - and that’s okay. BEQUANT chose the latter path. And it did so legally, transparently, and without drama.

Who Should Care About BEQUANT Now?

If you’re a retail trader - don’t waste your time. BEQUANT is not an option. Look at Kraken, Coinbase, or Bitget instead.

If you’re an institutional investor, fund manager, or OTC desk operator - BEQUANT is still relevant. It’s one of the few European-licensed prime brokers focused solely on crypto. It’s not the biggest, but it’s one of the most technically sound. If you need low-latency execution, regulated custody, or access to deep liquidity pools without the noise of a retail exchange, BEQUANT Pro is worth evaluating.

Its competitors in this space include Genesis, Cumberland, and Circle Trade. But BEQUANT stands out for its clean API, regulatory clarity, and lack of conflicts of interest - it doesn’t run a proprietary trading desk. That’s rare.

Final Take: A Lesson in Focus

BEQUANT’s story isn’t about failure. It’s about focus. Most crypto exchanges tried to be everything to everyone. They added NFTs, staking, lending, fiat on-ramps, and mobile apps. They grew fast - and then burned out under compliance pressure and user support costs.

BEQUANT did the opposite. It stayed narrow. It stayed professional. It listened to its clients - the ones who actually mattered to its business model. And when the market shifted, it pivoted cleanly, without drama.

If you’re looking for a crypto exchange to trade Bitcoin on your phone - keep looking. BEQUANT isn’t for you.

If you’re building a crypto fund or managing institutional capital - BEQUANT’s prime brokerage arm still exists. And it’s one of the most reliable options in Europe.