AAX Review 2023

This exchange has closed down its operation.

IMPORTANT UPDATE:

From 8 March 2023, AAX Platform underwent a liquidation process; subsequently, on 11 July 2023, the Court ordered that the JPLs be appointed as Joint Official Liquidators of the Company. So, we can’t recommend using AAX at this time. If you have outstanding balances with AAX.com, AAX.com users can register their claim as a creditor by completing the online form available in the “Claims” section of the website here.

AAX platform closing announcement

Accordingly, we have marked the platform as “closed.”

Are you looking to start trading on a reliable exchange? Your search ends here. Explore our safest crypto exchange list to discover the ideal platform for your crypto trading needs.

AAX exchange is one of the leading crypto exchanges, offering advanced trading features for professional investors to conduct technical analysis, build trading strategies and market insights. AAX offers high trading volume, deep liquidity, and fast transactions.

Established in Seychelles, AAX is a digital asset exchange founded in 2018 that caters to a global audience. It has the vision of bringing the benefits of bitcoin and digital assets to everyone. This is reflected in our overall work philosophy with a global presence distributed across Lithuania, Nigeria, Singapore, Vietnam and Taiwan, to name a few regions.

AAX Summary

Official Website Business is closed
Found in 2018
Native Token AAB Token
Listed Cryptocurrency BTC, ETH, XRP, BCH, XTZ LINK, and several more
Trading Pairs BTC, Ethereum, & 100+
Supported Fiat Currencies CAD, USD, AUD, GBP, EUR
Supported Countries Over 100 countries including Vietnam, Türkiye, Taiwan, Indonesia, and Brazil
Minimum Deposit N/A
Deposit Fees No
Transaction Fees Starts from 0.016% to 0.1%
Withdrawal Fees Different digital assets charge different fees for withdrawal.
Application Yes
Customer Support Live Chat, Telegram channel, Guide, FAQs
AAX cryptocurrency exchange provides high performance, security, and integrity. Additionally, it offers an intuitive user interface with cutting-edge security standards. AAX also provides a mobile trading app for traders to trade on-the-go.

Explore this AAX review to learn more about this broker service’s drawbacks. Let’s find out all about the features, the advantages, and disadvantages of AAX cryptocurrency exchange in this transparent and unbiased assessment.

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 with retail traders in mind, all the while elevating the benefits of blockchain technology. Some of the features of AAX are its advanced digital services and products like futures contracts, interest accounts that generate high savings interest, and diversified crypto markets.

AAX Review 2022 – Exchange Interface

The team behind AAX exchange is diversified and composed of talents across the globe, and it is a well-known leading digital currency exchange in Asia and the Pacific Region.

Is the AAX Platform Regulated?

As per our AAX exchange review, AAX cryptocurrency exchange is registered in Seychelles as AAX Limited. AAX strives to work closely with the regulatory bodies of each market to continue providing broadened access to digital assets.

Features and Benefits of AAX Exchange

Here are the few key features and benefits of using AAX exchange:-

  • According to our research, AAX 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 on-ramping and off-ramping of crypto, a comprehensive futures market, and more. You can also earn high interest through an AAX savings account and AAX futures market.
  • AAX exchange provides crypto charting software by TradingView that offers indicators, advanced trading tools, and chart pattern overlays that can be used for spot and futures trading technical analysis. The trading software is available on Android and iOS mobile devices. The exchange partnered with Solidus Labs to offer a software that alerts it’s trader on market manipulation.
  • Enjoy AAX’s Zero – Trading Fee Program for all of its spot pairs. AAX spot trading offers 50 market pairs. Users who trade on the platform will have access to completely free transactions, both for maker and taker orders, and across all trading volume categories. The exchange provides unparalleled stability and minimum latency, making it ideal for institutional, professional, and newbie traders.

AAX Platform Review – Features and Benefits

  • Newly registered AAX users can create an account, after which they can buy Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Tether (USDT) and other cryptocurrencies on the exchange. AAX supports several currencies in fiat like CAD, USD, AUD, GBP, and EUR and offers numerous payment methods for traders. Some of them include credit or debit cards or bank transfer; these payment options depend upon the user’s country of origin.

Product & Services Offered by AAX Exchange

  • AAX provides an application for smartphones 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. They can also receive the latest updates, blog posts, and notifications directly from the app.
  • AAX offers an easy-to-use and user-friendly platform. This exchange supports numerous languages, catering to a wide global audience. Furthermore, AAX Trends, an educational hub covering extensive topics within crypto, offers several useful resources like training tutorials, exchange guides, trading tutorials, general cryptocurrency topics, and future guides.
  •  In addition to standard crypto trading features, AAX Exchange provides a platform for P2P fiat trading, lending, and spot trading. The OTC platform simplifies trade execution for large clients, while the Fast Buy option is ideal for new traders wishing to buy their first Bitcoin. AAX newly introduced two new cryptocurrencies Moonlana and Bitcoin Latinum (LTNM) recently, and is constantly on the lookout for good token listings. On AAX’s platform, you have the option of trading over 200 cryptocurrencies.

AAX Reviews - Product & Services

  • This exchange offers a built-in calculator for traders to calculate profits and losses for the closed trades. Traders can calculate their liquidation price and ROE percentage, which helps users plan their trades and avoid losses.
  • AAX Savings helps investors earn passive income, with a guarantee of 50% that is higher than the market. It also generates returns by the minute; this Savings service does not require any fees and traders can deposit and withdraw their money anytime.

Join AAX Tribe Today

AAX Review: Pros and Cons

Pros Cons
AAX exchange offers an easy to use and beginner-friendly platform. Does not allow US investors.
Provides AAX Mobile App for easy trading. It offers 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 a user wants to buy, trade, send, receive, or sell crypto through the platform, they need to create an account through the website. The main criterion is that users need to be 18 years or older. AAX global exchange does not charge fees for creating and maintaining an account or for utilizing a trading wallet and conducting internal transfers. By creating a basic account, users can deposit Bitcoin for trading purposes. Those who want to deposit fiat currency should complete the AAX Exchange KYC process to access this platform.

Here are the steps to register for an account on AAX exchange:-

  • Registering on AAX exchange is very simple and easy. Interested traders simply need to go to the homepage of AAX and click the sign-up 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. They will also 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, for example through a wire transfer to your bank account.
  • AAX also offers level 1 verification for its Savings account. The user needs to supply an identity document like a passport or identity card as well as an address proof like a utility bill or a tenancy agreement.

AAX Reviews - Registration & Login Process

AAX Fees

AAX Trading Fees

AAX’s trading fees follow the maker and taker model and start from 0.060% to 0.100% for crypto market and limit orders. The trading fees for takers are 0.10%. Depending on the trader’s 30-day rolling trading amount, the trading fees are as low as 0.010%. The users can use AAX’s native token AAB to get a reduction on fees of up to 20%.

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 fee discounts are based on the trading volume of futures, OTC trading, and spot trading. Check out the below table to know the Futures trading fee for futures markets:-

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 where users are only allowed to deposit digital assets. The global platform does not charge any fees for deposits and for transferring funds from hard storage devices to the AAX wallet. It does not charge any 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 fiat withdrawal fee charged is of 0.0004 BTC for Bitcoin. Fiat withdrawal fees are considered competitive compared to other exchanges. However, you are advised to check the trading fee structure of this platform.

Payment Methods Offered by AAX Exchange

AAX offers numerous ways for users to deposit funds into their trading account. The two major methods are depositing funds through digital currencies for fiat. The trader can use the traditional payment method to use the fiat-to-crypto gateway offered by partner platforms.

The trader should complete the ID verification with national ID, driver’s license, or a passport and the AAX exchange KYC procedures providing face authentication (biometric data) if they want to use it. Based on the country of origin, some of the methods for depositing fiat currency are credit and debit cards, bank transfers, and Visa and MasterCard transactions. This exchange does not charge any additional fees for deposits. No fees are charged for OTC trading.

Is AAX Exchange Safe?

AAX 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 the 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 for traders to get insured crypto custody within fully regulated entities for their funds.

AAX - Safe & Secure Cryptocurrency Exchange

AAX Supported Currencies and Countries

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 exchange token of AAX is the AAB token. AAB token is based on Ethereum’s network, which is an integral part of this exchange; it provides numerous benefits to AAB token holders, like optional trading signals that support AAX global exchange. AAB token offers a trading discount of 20% on spot, futures trading, and OTC trading. The user can receive random airdrops, increased competition bonuses, and quarterly buybacks. Furthermore, the AAX exchange rewards its users for earning AAB tokens for free and has a fixed supply of 50 million which will be released over a period of 5 years. Traders can directly trade USDT, BTC, AAB, and more on the AAX exchange.

AAX Mobile App

AAX offers a responsive and intuitive mobile app for traders to execute trades at any time and from anywhere. The AAX app is available for users to download from 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, AAX has received the highest rating among cryptocurrency platforms, with users declaring that the app is very easy to use.

AAX Privacy and Security

Customer funds and their information security should be the main priority of any cryptocurrency exchange. The majority of user funds are stored in AAX wallets and held in cold storage. For investors who trade in high volume, this exchange provides an insurance custody scheme for their assets.

AAX user accounts need two-factor authentication, which acts as an additional layer of security; moreover, AAX provides a proprietary multi-currency wallet that is on par with industry standards. Kroll is the security advisor for the cryptocurrency trading exchange.

AAX Reviews - Privacy and Security

AAX Exchange Customer Support

According to research, AAX exchanges provide robust 24×7 customer service. AAX cryptocurrency exchange offers a live chat feature where service agents, who are highly knowledgeable and helpful, are glad to answer any queries users have. AAX is also equipped with Telegram channels that are quite active, and additionally, users can connect with the platform through Twitter and YouTube channels where they can learn more about the different products offered by the exchange. AAX also offers a very user-friendly support center, and users can look for answers in the platform’s Frequently Asked Questions (FAQ) section.

AAX Reviews - Customer Support

Summary of AAX Review

In conclusion, AAX crypto exchange is a well-known global trading platform, and it is used by traders with different experience levels as it is the safest crypto exchange on the market. The platform offers a competitive trading fee, and some features include TradingView charts, an institutional grid infrastructure, and an intuitive trading platform.

In conclusion, this secure exchange is well-known among most retail traders and investors looking to diversify their portfolio or looking to hedge the futures markets through USDT futures contracts. AAX also offers USDT settled trades and BTC settled trades. It provides robust security protocols, a variety of trading options, and great customer support for its traders. AAX uses third-party software to prevent any kind of market manipulation. AAX also rewards free AAB tokens to its users for certain campaigns. We can safely conclude that AAX is worth a try.

FAQs

Is AAX Exchange Legit?

According to our AAX research, AAX is a legit exchange with global users in Taiwan, Singapore, Brazil, and more.

Where Can I Buy an AAX Token?

Traders can buy and sell AAB tokens through cryptocurrency exchanges. They need to hold Bitcoin or Ethereum to start trading.

Is AAX a Good Exchange?

AAX, unlike other cryptocurrency exchanges, offers transparent, accessible, reasonable, and 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?

US customers are not permitted to trade or buy crypto with AAX exchange platform as per the terms and conditions. US customers need to find a cryptocurrency exchange in the United States, which is regulated under US laws.

Risk Disclaimer – The opinions expressed in this review article do not constitute investment advice and independent financial advice should be sought accordingly.

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