The Hidden Fees Nexo Don't Tell You About...

Summary

The presenter recounts a personal dispute with Nexo over the cost of liquidating a leveraged position in Solana (SOL). He argues that although Nexo support said it charged no fees, the spread on the sale reduced the amount credited toward his loan. These are the presenter’s calculations and allegations; the video does not independently verify the execution price or who received the difference.

Transaction example and calculations

• The presenter says the sale was reported on February 1 at 11:07. He compares SOL’s chart price of about $101 at 11:05 with $98.71 at 11:10, using the lower price as a conservative estimate.
• He calculates that 69.67 SOL × $98.71 ≈ $6,877, while the amount credited was $6,362—a difference of about $515.
• He reports a second liquidation a few hours later, with a calculated difference of $444, bringing the combined shortfall to roughly $1,000.
• Separately, he says the spread could potentially take 10% of a customer’s money. In his example, the $515 difference is about 7.5% of the estimated $6,877 value.

Nexo interaction and cautions

According to the presenter, Nexo customer service repeatedly said it did not charge fees and described the difference as a spread it could not control. He says the transaction details did not show where the difference went.

He alleges that liquidations occurred in small portions and that the spread made an already loss-making position more costly. He warns users to check execution prices and liquidation proceeds rather than relying only on statements that a platform charges no fees, and says he has withdrawn his prior recommendation of Nexo.

The presenter acknowledges that leveraged positions can fall in value and be liquidated. He advises traders to risk only what they can afford to lose.

Disclosure: No explicit “not financial advice” disclaimer appears in the subtitles.

Presenter/source: The Crypto Lunatic, speaking from the Luna Cafe.