Scrap Monster Inc. launches new Physical Scrap Exchange SCRAPEX.com

New technology, a growing industry, and a large audience demanding an online exchange platform dedicated to the scrap and recycling industry, without illegitimate traders, has been the reason for the introduction of a new online physical exchange, dedicated to the trading of recyclables and equipment.

Scrap Monster Inc. has been operating ScrapMonster.com for the past 5 years and with a growing membership and audience requesting to purchase or sell material in a secure environment, the solution was to develop a platform that is user-friendly and secure, where all members are fully verified for their legitimacy and good standing within the industry. The new exchange has been named SCRAPEX.com and was just launched after two years in development.

“SCRAPEX was developed to be a solution to a problem. With increasing fraud in online trading environments, companies are reluctant to trade with new found counterparts, which prevents growth. The goal with this new exchange is to eliminate this problem and offer companies a platform where all traders are fully verified and where there are no registration or monthly fees for joining the exchange. Most of us are tired of paying $50-100 fees for different services every month” said ScrapMonster CEO Paul Ploumis.

The exchange provides tools that allow verified trading members to post materials they are selling and/or their requirements instantly, with settings to accept bids or instant buys via purchase orders. Even though SCRAPEX is not an auction site, and focuses on direct purchases and negotiations, there are built-in tools for those interested in creating auctions for their listings.

The editorial team will publish daily industry headlines and trends in the exchange, as well as provide pricing trends and analysis. Future services of the exchange will include real-time LME, COMEX, and SHFE prices.

The difference between SCRAPEX and previous physical trading platforms is that trading members with have the advantage of trading only with fully verified companies, whereas other systems allowed for anyone to have access. Additionally, previous trading platforms charged registration and monthly service fees, along with commissions for buyers and sellers. For U.S. and Canadian companies, SCRAPEX will not charge any registration fees or monthly fees, and sellers will enjoy commission-free trades. Only buyers will incur a minimal commission fee.

SCRAPEX will invite ScrapMonster’s 22,000 members to the new platform and promote the new exchange to over 150,000 visitors monthly on ScrapMonster.com.

Scrap Monster Inc. is headquartered in Montreal Quebec, Canada

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Visit the exchange www.SCRAPEX.com