|Listed Cryptocurrency||BTC, LTC, ETH, XRP, BCH, XTZ LINK, and several more|
|Trading Pairs||BTC/USDT, ETH/USDT, LINK/USDT, and AAB/USDT|
|Supported Fiat Currencies||CAD, USD, AUD, GBP, EUR|
|Supported Countries||Taiwan, Singapore, Malaysia, Thailand, China, Australia, New Zealand, more|
|Transaction Fees||Starts from 0.06% to 0.1%|
|Customer Support||Live Chat, Telegram channel, Guide, FAQs|
What Is AAX?
AAX is a leading crypto trading exchange developed at the beginning of 2018 and launched successfully in 2019. This exchange has been created keeping retail traders in mind to increase the acceptance of blockchain technology. Some of the features of AAX are its advanced digital services and products like futures contract exchange, interest accounts, and crypto markets.
The team members of AAX exchange are from Asia and the Pacific, and it is a well-known leading digital currency exchange in that region. AAX exchange’s CEO Thor Chan has held roles with App Annie, Microsoft, and FDTGroup. Also, he developed low latency trading systems that provided the foundation for creating AAX to one of the leading institution-grade digital currency exchanges.
AAX Exchange Trading Partners
According to AAX review, the only exchange powered by the London stock exchange group is AAX. It is registered in Malta because of its lenient regulations. Their automated trading partners are Quadency and Stacked; their partners help this exchange automate various trading strategies, access trading bots, and monitor their holdings. This exchange can execute 100K transactions a second, and the orders are carried out with less than 90 ms latency.
Is the AAX Platform Regulated?
As per our AAX review, AAX exchange is a regulated cryptocurrency exchange registered in Malta as AAX Exchange Malta limited. However, operating a crypto exchange in Malta is very common as the regulations are lenient concerning cryptocurrency exchanges. The parent company of AAX is Atom International Technology Limited, and it is registered in Hong Kong. Further, this company is monitored by the authorities of Hong Kong.
Features and Benefits of AAX Exchange
Here are the few key features and benefits of using AAX exchange:-
- According to our AAX research, this cryptocurrency exchange provides special trading bots and a full suite of cryptocurrency services to users all around the world. This trading platform offers various products like fiat to crypto exchange, futures market, and AAX savings account that provides high interest.
- AAX is the only cryptocurrency exchange powered by LSEG technology used by the Oslo stock exchange, Borsa Italiana, and London stock exchange. The LSEG technology permits the traders to fill orders instantly, and they can get the best prices. Some popular trading pairs are BTC/USDT, ETH/USDT, LINK/USDT, and AAB/USDT.
- AAX exchange provides crypto charting software provided by TradingView that offers indicators, advanced trading tools, and chart pattern overlays that can be used for spot and futures trading. The trading software is available on Android and iOS mobile devices.
- According to AAX reviews, new users on this exchange can create an account, and after the process, they can buy Bitcoin, Ethereum, and USDT on the exchange. AAX exchange supports several fiat currencies like CAD, USD, AUD, GBP, and EUR and offers numerous payment methods for traders. Some of them include credit or debit cards or bank transfers; these payment options depend upon the user’s country of origin.
Product Services Offered by AAX Exchange
- According to the AAX exchange review, it provides a mobile application that can be accessed from both iOS and Android devices. It has all the features available on its website, where users can download the app by scanning the QR code from the website. Also, they can receive the latest updates, blog posts, and notifications.
- This exchange offers an easy-to-use and user-friendly platform. This exchange supports numerous languages that are helpful for their users. Further, AAX academy offers several useful resources like training tutorials, exchange guides, general cryptocurrency topics, and future guides.
- The AAX’s affiliate program is known as the AAX Tribe. When the user registers using a referral link, they can earn a small amount as commission for every single trade executed. They can earn a minimum of 40% as a direct commission and also 10% as a second-level commission.
- This exchange offers an in-built calculator for the traders to calculate profits and losses for the closed trades. They can calculate their liquidation price and ROE percentage, which helps the user plan their trades and avoid losses.
- Its savings help the users with a guarantee of 50% that is higher than the market. It also generates returns each minute; this service does not require any fees, and the traders can deposit and withdraw their money anytime.
AAX Review: Pros and Cons
|AAX exchange offers an easy to use and beginner-friendly platform.||Does not allow US investors.|
|Provides a Mobile app for easy trading.||Low liquidity.|
|The users need not undergo the KYC process to trade crypto.||Mobile application need improvements.|
|AAX exchange offers the option to purchase crypto using fiat currencies.|
|AAX has AAX Tribe, its affiliate program for its users.|
|This exchange offers an inbuilt calculator to calculate profit/losses.|
Registration and Login Process at AAX Exchange
If the user wants to buy, trade, sell, send, or receive cryptocurrency through the platform, they need to create an account through the website. The main criterion is that they should be 18 years or older. This exchange does not charge fees for creating and maintaining an account or a wallet. By creating a basic account, the user can deposit Bitcoin for trading purposes. If the user wants to deposit fiat currency, they should complete the AAX Exchange KYC process to access this platform.
Here are the steps to register on AAX exchange:-
- Registering on this exchange is very simple and easy. The trader needs to go to the webpage of AAX and click the signup button. They need to fill in the details for creating an account, and after that, they will receive an email asking them to verify their email address. Also, they will get an email from AAX asking them to comply with identification procedures.
- The KYC procedures are not compulsory, and if the user is using AAX exchange futures trading, then KYC is not required. Moreover, the user should know that they cannot purchase digital assets through fiat currencies on this exchange.
- AAX also offers level 1 verification. The user needs to supply an identity document like a passport or identity card as well as address proof like a utility bill or a tenancy agreement.
AAX Trading Fees
AAX exchange trading fees follow the maker and taker model and start from 0.060% to 0.100% for market and limit orders. Depending on the trader’s 30-day rolling trading amount, the trading fees are as low as 0.010 %. The users can use these exchange tokens and get a reduction of fees with a 20% fee discount.
Spot Trading Fee of AAX Exchange
This exchange uses the maker and taker model and offers its users a 10-tier model based on the trading amount. Further discounts are based on the trading volume of futures and spot trading. However, check the below table to know the Futures trading fee:-
|CONTRACT||TYPE||VALUE||MAKER/TAKER||MAKER / TAKER AAB 20% DISCOUNT|
|BTCUSDT||USDTsettlement||0.001 BTC||0.02% / 0.04%||0.016% / 0.032%|
|BTCUSD||BTCsettlement||1USD||0.02% / 0.04%||0.016% / 0.032%|
|ETHUSD||BTCsettlement||0.000001 BTC / 1 USD||0.02% / 0.04%||0.016% / 0.032%|
|COMPUSDT||USDTsettlement||0.1 COMP||0.02% / 0.04%||0.016% / 0.032%|
|LINKUSDT||USDTsettlement||1 LINK||0.02% / 0.04%||0.016% / 0.032%|
|BCHUSDT||USDTsettlement||0.01 BCH||0.02% / 0.04%||0.016% / 0.032%|
|ETHUSDT||USDTsettlement||0.01 ETH||0.02% / 0.04%||0.016% / 0.032%|
AAX Deposit Fees
AAX is one of the leading cryptocurrency exchanges that allow users to deposit only using digital assets. Besides, it does not charge any deposit fees for transferring the funds from the hard storage device to the AAX wallet. It does not charge fees for transferring cryptocurrencies between AAX accounts internally.
AAX Withdrawal Fees
The AAX exchange fiat withdrawals are charged, and if the user wants to transfer Bitcoin or other digital currencies from the exchange, the fees vary depending on the type of coin. There is a minimum amount to be withdrawn. The withdrawals are charged a fee of 0.0004 BTC for Bitcoin, which is considered competitive.
However, you are advised to check the fee structure of this trading platform.
Payment Methods Offered by AAX Exchange
AAX offers numerous methods to users to fund their trading account. The two major methods are depositing funds through digital currencies for fiat currencies. The trader can use the traditional payment method to use the fiat-to-crypto gateway offered through their strategic partners.
The trader should complete the ID verification and the KYC procedures if they want to use it. Based on the country of origin, some of the methods for depositing fiat currency are credit and debit card, bank account transfer, Visa, and MasterCard transactions. This exchange does not charge any additional fees for the deposits.
Is AAX Exchange Safe?
According to our AAX review, It is a safe and secure cryptocurrency exchange that provides numerous security features and insurance. The user’s funds are protected along with their personal information. This exchange complies with Cryptocurrency Security Standard(CCSS) which is a universally recognized standard that is used for securing cryptocurrency systems. Some of the security measures offered by this exchange are cold wallet storage and hardware security modules that are used to protect the private keys of Bitcoin. It offers multi-factor authentication access and an option to the traders to get insurance crypto custody for their funds.
Supported Currencies and Countries by AAX
AAX cryptocurrency platform is an easily accessible platform that has several offices spread over the Asia Pacific region to help their traders and users from Taiwan, Malaysia, Singapore, Thailand, Australia, New Zealand, and China can use this exchange for crypto trading. Moreover, certain countries do not allow access to this cryptocurrency exchange. This exchange supports over 40 currencies, and some of the most popular cryptocurrencies are BTC, XRP, ETH, YFI, etc.
AAX Token (AAB)
The native token of this exchange is the AAB token. It is based on the network of Ethereum, which is an integral part of this exchange; it provides numerous benefits to the token holders supporting the platform. This token offers a trading discount of 20% on the spot, futures, and OTC trading. The user can receive random airdrops, increased competition bonuses, and quarterly buybacks. Further, the AAX exchange rewards its users for earning AAB tokens for free.
AAX Mobile App
AAX offers a responsive and intuitive mobile app for traders to execute trades at any time and any place. The AAX app is available for users, and they can download it from their Android and iOS devices. It also offers the same features as that of the desktop and can be accessed anytime. According to several AAX reviews, it has received the highest rating, and the users have declared that the app is very easy to use.
AAX Privacy and Security
The customer funds and their information security should be the main priority for any cryptocurrency exchange. The majority of the funds of the user are stored in the AAX wallets and are held in cold storage. For high trading volume investors, this exchange provides an insurance custody scheme for their assets.
AAX User accounts need two-factor authentication, which acts as an additional layer for security; moreover, it provides a proprietary multi-currency wallet that is at par with industry standards.
Customer Support by AAX Exchange
According to the AAX research, this exchange provides robust 24×7 customer service. It offers a live chat feature where the service agents are highly knowledgeable and helpful. It also provides telegram channels that are quite active, and users can also connect with them through Twitter and YouTube channels where they can learn about using different products offered by the exchange. It also offers a very user-friendly support center, and the users can check their doubts in the platform’s FAQ section.
AAX Review: Wrap Up
In conclusion, the AAX crypto exchange is a well-known trading platform, and it is used by traders with different experience levels as it is the safest cryptocurrency exchange. Which offers a competitive trading fee, and some features are Tradingview charts, institutional grid infrastructure, and an intuitive trading platform.
This exchange is well known among retail traders as well as investors who are planning to diversify their portfolio and those who are looking to hedge the market through USDT future contracts. It provides robust security protocols, a variety of trading options, and great customer support for its traders. Hence we can say that AAX is worth a try.
Is AAX Exchange Legit?
According to our AAX research, AAX is a legit exchange. This exchange is registered in Malta because of lenient regulations. Its parent company is Atom International Limited Technology Private Limited, which is a well-known global fintech company that has offices in several parts of the world.
Where Is AAX Based?
As per the AAX exchange review, AAX is one of the most popular cryptocurrency exchanges that is based in Hong Kong, and it is operated by Atom International Technology Limited.
Where Can I Buy an AAX Token?
Buy AAB tokens: the traders can buy and sell them through cryptocurrency exchanges, and they need to hold Bitcoin or Ethereum to start trading.
Is AAX a Good Exchange?
AAX, unlike other cryptocurrency exchanges, offers transparent, accessible, reasonable, competitive trading fees for its users. Moreover, spot trading fees are the lowest when compared to other exchanges, and they can be reduced further.
Are US Traders Allowed to Use AAX?
Risk Disclaimer -The opinions expressed in this review article do not constitute investment advice and independent financial advice should be sought where appropriate.