AAX Exchange Review

AAX Exchange Review

Robert McDougall 

April 14, 2022

Cryptocurrency

What is AAX?

AAX is one of the industry’s leading cryptocurrency exchanges. The exchange makes it possible for all types of users to trade and invest their money and dwell in the world of blockchain, making good on its claim to offer a complete suite of investing and trading. In addition to its many features and options, the platform boasts an innovative structure on its website, optimization based on a user’s expertise and a premium support system. AAX is an excellent and reliable choice for crypto enthusiasts all over the world.

AAX came into being in 2018, but it took almost 18 months for the team to execute everything, and thus the platform was launched in November 2019. It is based in Seychelles and has offices all across Asia. With some of the greatest Asian minds behind the platform, you can expect a world-class trading and investing experience right from the screen of your desktop or mobile device. Due to the massive increase in popularity of the crypto industry and the way it can change the world, AAX was built with longevity in mind, working to fulfill the demands of the latest-gen users.

  • Web Address: www.aax.com
  • Main Location: Seychelles
  • Cryptocurrencies: BTC, LTC, ETH, BCH, XLM, and 100+ more
  • Fiat Currencies: USD, AUD, BGN, BRL, CAD, INR, ZAR, CNH & more
  • Payment Methods: Credit/Debit Cards, Bank Transfers, E-Wallets, Cryptocurrency
  • Deposit Fees: Varies
  • Trading Fees: 0.10% / 0.15% maker/taker
  • Mobile App: Yes

My Overall Thoughts on AAX

Right from the beginning, AAX has delivered on what it aimed to offer. In this advanced era of blockchain technology, everyone is searching for the best possible benefits and a relentless trading experience that is smoother and better. AAX offers such an experience to its traders through innovative technology and countless features and options that are available for everyone to use.

The whole process, from signing up to trading or investing, is so easy that a beginner can complete it without facing any troubles. The security and protective measures make the platform an even better choice for many crypto geeks. But in my opinion, the following are the things that can be really helpful for today’s world traders and investors:

1) There are many features and options for trading:  The integration of spot, futures and OTC offers traders a great variety of markets to explore and invest their money in. You can easily find and begin trading tons of assets and pairs within these markets. Also, the trading interface is on another level, offering a seamless experience while taking care of all the needs of a professional trader.

2) The platform offers several earning opportunities:  There are many methods through which you can earn on AAX, including a savings account option, DeFi mining, a referral program, promotions and contests.

3) You have access to top-notch customer support and a learning center:  The live chat support system and help center are two of the things I love the most about AAX. Users can easily solve their problems without waiting for days. In addition to working with a representative, users can use articles and guides that go through all the steps of using the platform and help them to understand the basics of the market.

Key Features and Advantages of AAX

AAX is a massive name in the crypto industry. The exchange is trusted by over two million people from all over the world. Having implemented the all-new LSEG technology into the exchange, AAX ensures premium security and unmatchable protection to both its users and their assets. Along with all of these things, AAX brings many features and benefits that all types of traders and investors can enjoy.

In addition to the high-performance trading interface, variety of assets to trade, passive earning opportunities and excellent customer support that I mentioned earlier, AAX offers an easy-to-use platform, advanced features and options, API integrations, countless crypto coins to buy instantly and many other things. To get a fuller idea of what’s available at AAX, check out the list below.

Negatives and Disadvantages of AAX

With all the benefits and advantages mentioned above, it may seem like AAX is the perfect platform. But, of course, it can be hard to keep up with the countless demands and requirements of traders and investors in today’s era.

What Services Does AAX Offer?

AAX can be an excellent start for any trader or investor who wants plenty of features that enhance not only the experience but also their own efforts. All the tools and options available at AAX make it possible for the user to look into the future of the blockchain industry and have the latest-gen experience.

If you are a little confused about the services of AAX or just want a brief overview of what they offer, read on.

Instant and easy cryptocurrency purchases:  AAX allows its users to buy cryptocurrencies instantly and easily. Even if you know nothing about the complications of a crypto exchange, you will find it easier to buy crypto on AAX than other exchanges due to the layout. All you have to do is click on the buy crypto section and choose from available options.

The platform offers a fast buy option if you do not want to waste a single moment of your precious time. It also gives the option to buy crypto assets with local currencies so that users can avoid hefty conversion charges. Another great thing about the buy section of AAX is that it offers tons of popular crypto assets that you can directly buy. Be it BTC, ETH or any other hot cryptocurrency, you will find it at AAX. Just make sure to do your research before investing a massive amount in any particular asset.

Great variety of crypto assets:  As I have stated above, the exchange offers a great variety of crypto assets when it comes to buying directly. As far as the availability of crypto assets for trading, it is even broader and better. There are more than 100 crypto assets available for trading. You will find not only popular crypto assets but also emerging ones that are carrying great potential for the future.

To give you a very small idea of what crypto assets AAX brings to its users, I have compiled a list below:

  • BTC
  • ETH
  • LUNA
  • AVAX
  • SAND
  • MATIC
  • ADA
  • ATOM
  • SHIB
  • XRP

There are many more that you might not have even heard of. So if you are looking for diversity of tradable assets, AAX has a very low chance of disappointing you.

P2P market for local payments:  Even in this era of advancement and easiness, countless traders face problems buying cryptocurrencies due to the unavailability of suitable payment methods and the laws and regulations restricting exchanges from offering reliable services. P2P markets can solve a lot of these hurdles for both buyers and sellers. If you are looking to buy a crypto asset but can’t find a suitable payment method on the platform, you can visit the P2P trading center and check out local traders willing to sell you various assets. Simply pay the P2P merchant using an agreed-upon method and receive your desired asset in exchange.

In the P2P market at AAX, users get a list of verified merchants through which they can buy and sell cryptocurrencies, along with the merchants’ rates and supported payment methods, so you can avoid the hassle.

Beginner-friendly platform with hassle-free signup:  One area where AAX is quite ahead of its competitors is the beginner friendliness of the platform. When a user signs up on the exchange, they have the option to choose their expertise level—usually beginner or pro—and the exchange will adjust according to the preference you have chosen.

Beyond that, the layout of the exchange is not really complicated. Every section is divided so that users of all types can easily find the option they require without having to search through unrelated options.

As for the signup experience on the platform, you require only an email address, along with a strong password to protect your account. But in order to take full advantage of the platform, you have to verify your identity later by submitting relevant documents.

Mobile apps for on-the-go trading:  AAX provides dedicated mobile apps through which users can trade literally anywhere and anytime they want. The mobile app can be downloaded on Android and iOS devices from their app stores. You don’t even need the latest-gen device or an ultra-fast internet connection for the application to run smoothly.

It is even possible to start from scratch on your device—you can sign up and verify your details right on the app.

Spot, OTC and futures trading markets:  Every exchange offers spot trading. But the game can change a lot when it comes to markets like futures and OTC that not every exchange brings to their traders. Luckily, AAX offers all three. With futures, users get the option to go with either a BTC-settled contract or a USD-settled contract.

As for OTC (over-the-counter) trading, the exchange connects the broker directly with the trader, so trades are not made through the exchange. This gives traders an upper hand due to the reduced fee, better positions and better prices.

Advanced trading interface with tons of options:  The trading interface is what matters to most professional traders in the world. Rest assured, the trading interface of AAX is quite impressive due to its features and options. Even the first impression gives you a professional outlook because of all the detail and categorization.

At the bottom of the page, users can explore the whole trading chart of the asset they selected. Within the chart, users also have several customization options. You can zoom, scale, add indicators, select different timestamps, use drawing tools and do much more. On the right side, users can view the complete order book along with the panel to open positions and tweak the settings. Users can also place stop/loss orders to ensure that their funds are safely within the specified percentage.

One-minute trading:  If you are the type of trader who does not have the time to learn spot trading, then one-minute trading might interest you. As the name suggests, traders make an order that is closed within a minute and then are paid according to the results. If the market is in your favor, you can earn a hefty interest rate of up to 90%; if not, you can lose all of your funds in an instant.

Due to the short period of the trades, this type of trading is considered highly volatile. It is also considered betting, due to the unknown circumstances. It is all but impossible to evaluate the market on the basis of a single minute, so you are simply risking your money by going with this type of trading.

Earn interest through a savings account and DeFi mining:  Wouldn’t it be great to make your money work for you? Well, AAX makes it possible with savings accounts and DeFi mining. The exchange offers some great deals to users who want to lock their assets for a specific period and earn interest on them. Users can earn up to 60% APY on most assets, and it can go up to 150% if users opt for the special offers. If you are interested, make sure you know what the locking period is, along with the minimum required investment. It is also an excellent idea to go through the terms and conditions of the exchange and understand them before subscribing to any of the available deals.

If you do not mind the high risk and want better returns, check out DeFi mining. It can offer you an interest rate of up to 40% within a 7-day period.

Up to 20% rebate commission through referrals:  If you like the platform and think you could persuade others to join, too, then you can get unlimited benefits through AAX’s referral program. When a referral joins, you get 20 USDT, and later on, you can earn a 20% rebate through their spot trading journey. So, the more your referrals trade, the more you will earn.

Promotions and rewards:  Aside from the referral program, there are many ways that AAX can help you earn a few side bucks. You can enter its friend invitation contest, check out promotions and sign up for bonuses, lotteries and even trading contests to win exciting prizes. These types of promotions and rewards keep traders interested in the platform and make them stay on the platform for a longer time for better chances of winning.

Premium customer support and guiding content:  To top off all the benefits and amazing features mentioned above, AAX also offers premium customer support to sort out any of its users’ issues. With the help of live chat support, users can solve their problems within minutes. If the problem is very complicated and needs to be checked thoroughly, users can also open a ticket for it to be solved ASAP.

The exchange also offers guides and articles to its users to help them understand the basics of trading and investing. Another section of guiding content includes news and insights that provide highly detailed info about market conditions and future possibilities.

Things I Don't Like About AAX

It is now time to explore the darker side of AAX. There are a few aspects that many traders around the globe do not like. Take a more thorough look at these points below.

Margin trading is not available:  Although AAX offers a fantastic variety of assets, diversity in pairs, several trading markets and a premium trading interface, AAX does not offer the option to margin trade. Margin trading can be quite important for many traders because it increases trading potential quite drastically. It gives you access to equity you don’t even own and thus provides you the opportunity to earn more through your trades. It is unfortunate that AAX does not provide this option.

US users are not allowed on the platform:  AAX is available in countless countries, but it is not available in the United States of America, which usually brings a lot of users to any platform. All the services available at AAX are restricted for US users—they cannot trade, invest or perform any other activity on the platform.

AAX Fees

AAX Deposit Fees

The crypto deposits at AAX are entirely free. But if you are going with third-party merchants or P2P trading to buy assets, you will have to pay a variable fee that depends on market conditions.

Luckily, for asset conversions, there is no fee, and users can convert their assets without paying any extra cost.

AAX Trading Fees

The basic trading fee at AAX is 0.1% for makers and 0.15% for takers, but VIP members receive a discount. With VIP membership, you can lower the fee to 0.02% for makers and 0.04% for takers. The criteria for VIP membership is listed below.

If you have a massive trading volume or you hold a lot of assets in your AAX account, you can get great benefits in terms of trading fees. If you choose to pay your fees using AAX’s native coin (AAB), you will receive a further 20% off your fees.

AAX Fiat Withdrawal Fee

Users can withdraw their fiat assets from their AAX account through e-wallets like EPay and Advcash. As for the fee, it varies depending on the chosen method and the amount you are withdrawing.

AAX Crypto Withdrawal Fee

For withdrawing crypto from AAX, there is a different fee for every crypto asset. You can refer to the withdrawal page of the platform to get the most accurate data about their withdrawal fees.

Pros and Cons of AAX

Pros
  • Instant buying and selling of crypto assets
  • Several trading markets are available
  • Professional trading interface
  • Excellent customer support and guiding content
  • Multiple ways to earn and receive rewards
Cons
  • Not available in the USA
  • Margin trading is not supported

Verdict

Conclusively, AAX has proven to be an excellent choice for traders and investors, due not only to its trading and investing activities but also to the way the platform enhances the experience of its users and lets them learn right from scratch. Whether you are an absolute amateur or a pro, you get an amazing experience with all the benefits offered by the exchange.

The only aspects the platform still has to work on a little are the availability of the platform for US users and the option to margin trade. Both of these can be solved, but let’s wait and see what AAX has planned for their users.

If you are a US resident, you will be looking for a crypto exchange that you can access in your country. Read our article on the best cryptocurrency exchanges in the USA to find one that suits your needs. We have included a table below that you can use to easily compare the top crypto sites.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
MEXC Global
Pionex
Coinmama
Uphold
Crypto Exchange
Crypto Exchange
eToro
MEXC Global
Pionex
Coinmama
Uphold
Fiat Currencies
Fiat Currencies
USD
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
USD, GBP, EUR, CHF, AUD, JPY & 21 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA & 75 more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
Deposit Methods
Deposit Methods
PayPal, Debit card, Credit card, Wire transfer, Online banking
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Credit card, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
1%
0.2% for spot, 0.02%/0.06% for futures
0.05%
2.93% - 3.90% (depending on loyalty level)
Fees included in the spread

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."

Frequently Asked Questions

Is AAX available in the US?

Unfortunately not! AAX does not currently offer its services to residents of the US. They might have plans for US residents in the future, but nothing has been confirmed as of now.

Can you trust AAX?

AAX is a safe and trusted wallet that has been in the industry for a few years now. It stores the funds of its users in cold storage for perfect protection and peace of mind.

Is AAX a beginner-friendly platform?

Yes, AAX is a very beginner-friendly platform that not only helps traders and investors understand the basics but offers them multiple options to start their journey.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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