I just got off the phone with Simon at Coinexx and here is what I learnt about their withdrawals and KYC.
After you place a withdrawal request on portal, they seek a manual email confirmation from you, UNLESS:
a) Withdrawal amount is less than $100 (earlier used to be for all amounts)
b) The same wallet address has been used for an earlier withdrawal in the past 6 months
Per him, those clients who do not respond to this email confirmation, mostly end up their withdrawal timeline crossing 48 hours. Well, I never quite understood with why this email confirmation exists in the first place. He tells me their compliance enforced this upon them as a requirement for client security. Personally, I have always felt Compliance is mostly BS just causing inefficiencies.
He tells me they never ask for any KYC documents at the time of withdrawals. So today, you can open a new account, fund, trade and make a withdrawal without any KYC being done. Apparently, they are only asking their large size accounts ($50K+ size) for a mandatory KYC at this time.