BTC
16468
DOGE
0.0891
ETH
1210.2
LTC
77.47
EN
RU

The AAX exchange is a young representative of the cryptocurrency trading market. It was established in 2019. Now, the exchange has offices all across the Asia-Pacific region. In three years of operation, the cryptocurrency exchange has achieved a rather impressive daily spot trading volume of $2,682,686,022, according to CoinMarketCap. The exchange enjoys popularity among users, with over a million traders from different countries visiting the platform weekly.

The number of markets offered by AAX can be considered average at slightly over 300. The number of available coins is 233, which is lower than many of the exchange’s competitors offer. However, a rather large number of fiat money is available at the exchange. You can trade on the platform using USD, HKD, CNH and 8 more traditional currencies.

Despite the fact that the exchange is positioned as a reliable and secure platform for trading, the company does not provide information about the license. Contacting the operators of the support service also did not help in obtaining this kind of information. At the moment, users can only communicate with the support service in English. In the review below, you will learn more detailed information about the services and instruments offered by the AAX crypto exchange, and learn about the advantages and drawbacks of the platform.

AAX website

AAX Rating

Total score 7.1
Commissions and fees 9
Security and regulation 5
Markets 6
Passive income 8
Deposit and withdrawal 7
Trading platforms 8
Analytics 4
Education 9
Customer support 7
Bonuses 7

AAX Pros and Cons

Pros
Good choice of trading instruments
Over 10 fiat money options for depositing funds to the account, trading and withdrawing funds
Access to spot and futures trading
The fees are lower than the market
A possibility to reduce fees upon achieving new VIP levels and also additional discounts for trading the AAB token
Use of effective data protection technologies – distributed server clusters, two-factor authentication, etc.
A referral program and bonuses for bringing friends
A possibility to participate in competitions for additional income
A detailed guide for beginners on all features of the exchange and also the AAX Trends section with thematic materials
Cons
No information about the license and regulation
Small leverage for spot trading: x3
No demo account

Basic information

Name AAX
Website www.aax.com
Exchange type Centralized
Regulation No information
Taker’s fee 0.05-0.15% – spot trading; 0.03-0.06% – futures trading (discounts for trading AAB are not included)
Maker’s fee 0.02-0.1% – spot trading; 0.012-0.04% – futures trading (discounts for trading AAB are not included)
Demo account N/A
Minimum deposit The minimum deposit depends on the chosen currency (1 USDT, 0.0005 BTC, etc.)
BTC withdrawal limits Depending on the verification level (from 2 to 100 BTC per day)
USD withdrawal limits From USD 50
Withdrawal in Fiat Available
Time frame for account opening Around 5 minutes, taking into account email address verification
Leverage x3 for all trading pairs, up to x100 for futures trading
Markets More than 300
Passive income options Staking, refer-a-friend, referral program
Customer support languages English
Withdrawal fee Depending on the financial method
Deposit methods Electronic and cryptocurrency wallets
Withdrawal methods Electronic and cryptocurrency wallets
Account currencies Cryptocurrencies and fiat
Promos Trader competitions, savings bonuses, community listing, NFT contests, and more
Author of the review
Alexandra Williams
Alexandra Williams

Alexandra Williams has been a trader and observer since 2019. She has written around 30 analytical articles on cryptocurrency rate dynamics, reviews of financial companies and large joint stock companies.

AAX Commissions and Fees

9

The commissions and fees charged by AAX can be considered attractive for all participants of trading. For example, in spot trading, the maker fee does not exceed 0.1%, and taker fee – 0.15%. For futures trading, the market participants are offered even better conditions: up to 0.4% maker fee and 0.06% taker fee. Traders can also reduce their fees upon achieving higher VIP levels. This requires increasing trading volume on a regular basis. The 30-day trading volume is taken into account.

There is also one more option of how to reduce the fees. Clients of the exchange participating in trading AAB, the native token of the exchange, can receive additional discounts. In terms of deposit and withdrawal fees, the crypto exchange does not charge any. Below is more detailed information on the AAX commissions and fees.

Pros
The fees for spot and futures trading are lower than average in the market
By increasing their 30-day trading volume, user can reduce their fees
Users can receive an additional discount for holding the exchange’s native token
Low threshold for reducing the fees in spot and futures trading for takers and makers: the lower fees become available once your achieve the trading volume of 50,000 USDT or 2,000 AAB
Cons

Trading fees

At the beginning of trading in the spot market, users pay the following fees:

  • 0.1% – Maker;
  • 0.15% – Taker.

If a trader is holding the native tokens of the cryptocurrency exchange (AAB), the fees are immediately reduced to 0.08% and 0.12% respectively. Upon achieving a certain trading volume, traders are assigned higher VIP levels, which provides them with even lower fees. Trading for each client starts with VIP 0. To reach VIP 1, you need to achieve a 30-day trading volume of up to 50,000 USDT, VIP 2 – 100,000 USDT, etc.

The top VIP 9 level becomes available once the trading volume exceeds 80,000,000 USDT. Also, to reach a new level, you can regularly increase trading volume with the AAB token. The VIP 1 level becomes available once you reach 2,000 AAB, VIP 2 – 5,000 AAB, the top VIP 9 level – 1,000,000 AAB.

The minimum fee charged on the traders of the VIP 9 level is 0.02% for maker and 0.05% for taker. Taking into account the discount for trading AAB, the final fee will be 0.016% and 0.04% respectively.

There are similar rules for futures trading. At VIP 0, makers pay a 0.04% fee and takers – 0.06%. With each new level, the fee is reduced. The minimum fee is available on the VIP 9: 0.012% for maker, and 0.03% for taker.

Traders who hold the native token of the crypto exchange receive discounts that allow them to start trading with the following fees: 0.032% for maker and 0.048% for taker. The minimum fee available with this discount is 0.0096% for maker and 0.024% for taker. The table below shows the exact fees for each level (discounts for trading AAB are not included).

Market 30-day trading volume (USDT) Maker Taker
Spot trading <50,000 0.1% 0.15%
>50,000 0.09% 0.14%
>100,000 0.09% 0.12%
>500,000 0.08% 0.11%
>2,000,000 0.07% 0.1%
>5,000,000 0.06% 0.09%
>10,000,000 0.05% 0.08%
>30,000,000 0.04% 0.07%
>50,000,000 0.03% 0.06%
>80,000,000 0.02% 0.05%
Futures trading <50,000 0.04% 0.06%
>50,000 0.04% 0.06%
>100,000 0.036% 0.055%
>500,000 0.036% 0.05%
>2,000,000 0.032% 0.045%
>5,000,000 0.028% 0.04%
>10,000,000 0.024% 0.035%
>30,000,000 0.02% 0.03%
>50,000,000 0.016% 0.03%
>80,000,000 0.012% 0.03%

Average commission compared to competitors

AAX Binance Huobi Global
Maker 0.06% 0.05% 0.08%
Taker 0.097% 0.06% 0.08%

The average indicator for each category is calculated for spot trading, excluding discounts for trading native tokens of the crypto exchange.

Following the analysis of the indicators provided in the table, it becomes evident that the fees charged by AAX are quite loyal. In terms of the fees, the exchange is practically on par with the famous market players, and in certain cases even offers better conditions.

Margin lending

The margin trading conditions at the exchange cannot be considered very beneficial. The leverage available to clients is x3. However, if a trader is interested in futures trading, the available leverage is up to x100. In terms of the fees, they also directly depend on the VIP level. Discounts for trading AAB are not available in this case.

A beginner at the VIP 0 is charged with the following fees:

  • 0.1% – Maker;
  • 0.15% – Taker.

Upon reaching the top level, the fees drop to 0.02% for maker and 0.05% for taker.

There is also an interest rate to be paid for using borrowed funds. Under the conditions of the AAX exchange, the interest is charged daily. Its amount depends on the chosen currency, for example 0.03% for USDT, 0.02% for BTC or ETH, and 0% for AAB.

Reliability and regulation

5

One cannot say that the AAX crypto exchange provides guarantees of trading reliability and security for its traders. The company is registered in Malta, but there is no available information about its license. Since there is no such information, it can be assumed that it is an offshore exchange and its own does not have an official registration.

However, in terms of the reliability of storing personal data and personal funds of clients, the exchange does use a number of effective tools. These include:

  • The use of distributed server clusters, distributed storage and innovative multi-machine technology;
  • 24/7 network monitoring to ensure client security;
  • The use of special technologies to provide quick response to possible threats;
  • The use of mandatory two-factor authentication and encryption technology.

The cryptocurrency exchange uses advanced data protection technologies in order to comply with the international CCSS security standards. It also has special HSM hardware modules required for ensuring reliability of transactions. Despite all of that, the exchange cannot provide legal security guarantees due to the absence of information about its regulation, which is why it cannot be confirmed that its operation complies with the laws and standards of the industry.

Markets and products

6

AAX does not offer a wide variety of markets. There are slightly over 300 of them on the platform, which is an average indicator for the segment. However, you can find not only popular cryptocurrencies, but also new ones and also little-popular coins among the available offers.

Pros and cons of market diversity on AAX
Pros
Over 300 trading pairs
Over 10 fiat money options
A possibility to use little-popular and new cryptocurrencies
Futures trading
Cons
Minimum leverage for spot trading: x3
Average number of altcoins

AAX markets

AAX Binance Huobi Global
Cryptocurrencies 233 387 614
Trading pairs 301 1,691 1,043
Bitcoin Yes Yes Yes
Etherium Yes Yes Yes
Altcoins Yes Yes Yes
Futures and options Yes Yes Yes
Cryptocurrency funds (a basket of cryptocurrencies in one lot) No No No
NFT Yes Yes Yes
*Data at the time of the review

Cryptocurrencies (spot)

For spot trading, traders are offered to choose from popular currency pairs as well as rather rare ones. The exchange offers the biggest choice of options for this market. The trading pairs that enjoy the highest popularity include BTC/USDT, ETH/USDT, CC/USDT, STSOL/USDT, etc. Also AAB, the native token of the exchange, is available. Users receive good discounts for the fees when trading the native token. Only 9 currency pairs are available in trading with leverage.

Cryptocurrencies (futures)

In terms of currency pairs available for futures trading, the exchange is significantly inferior to other platforms. The following contracts are popular: BTC/USD, BTC/USDT, ETH/USDT, ADA/USDT, etc. Unlike many other crypto exchanges, AAX offers futures trading with the use of fiat money. However, in terms of the choice of trading pairs, it is much smaller than that offered by a number of competitors.

Passive income on AAX

8

The AAX crypto exchange offers single/dual coin staking. The featured products are offered at 9%-25% APY. The most popular options include USDT/USDC, USDT/BUSD, USDT/USDP and others. The crypto exchange allows users to enter the staking system with a minimum amount of investment. You can choose high-yield projects that help earn a good return. Mining experience is not required and you can subscribe in just one click.

Another passive income option is to bring a friend, who wants to become a client of the exchange. The bonus to bringing three people is 2 USDT, five people – 3 USDT and ten or more – 5 USDT. The additional bonus is 10 USDT.

Potential partners of the exchange and its clients can also use a referral program. Under its conditions, users are provided with a referral promo code or a link. They can be posted on any third-party sources to attract new clients. The rewards correspond to those described above. There is also an option of getting additional “mystery gifts”. The maximum amount of such a gift is 1,000 USDT.

In order to receive a mystery gift, you need to execute the tasks written on the platform and earn points for that. The more points you have, the better the chance of winning a worthy reward. You can find out more details about the referral program of the crypto exchange in the corresponding section of its official website.

Account opening on AAX

8

Only registered users can start trading at the exchange. You will also need to deposit money to your trading account for that. It is not difficult to complete all these actions, and it will take you very little time. In addition, you will need to pass identity verification. The level of verification of the client account determines cryptocurrency withdrawal limits.

In order to pass verification, you need to access your user account and find the corresponding tab. In the top right corner, click the Pass Verification option. Once you’ve clicked on it, you will see a list of documents you need to provide: your passport or driver’s license, proof of address (for example a copy of utility bills), and also your photo holding the document in your hand. If you need a corporate verification, the list of documents will be much longer.

Account opening on AAX
Pros
Quick registration using one of the available methods: by phone number or your email address
Passing verification at any time convenient for the user
Minimum deposit is $1
Cons
You need to pass verification in order to increase withdrawal limits

Residents of which countries can trade at the exchange?

Residents of the majority of regions can become clients of the AAX crypto exchange. However, there are also certain restrictions. Registration on the platform is prohibited for the residents of such countries as Afghanistan, Egypt, Eritrea, Ghana, Panama, Lebanon, Libya, Mali, Somalia, South Sudan, Syria, Trinidad and Tobago, the Democratic Republic of the Congo, North Korea, Tunisia, Venezuela, Yemen , Zimbabwe, etc. You can find the detailed list of the countries in the Terms of Use (Par. 2.1.2) here.

How to open an account on AAX:
a step-by-step guide

Below, you will find a step-by-step guide on how to register on the website of the crypto exchange. It will help you pass this procedure without any difficulty.

Step
1

To start registering, access the official website of the AAX crypto exchange. In the top right corner, click Get Started and the small registration form will open.

Registrations on the AAX website
Step
2

In the registration form, choose the convenient method of registration: email or mobile. The following algorithm of actions will be identical for both methods. Below, we use the method of registering with an email.

Opening an account on the AAX exchange
Step
3

In the registration form, you need to provide your email and come up with a password. If you have a referral code, you can use it to receive additional bonuses. You will also need to check the box confirming that you agree with the AAX Terms of Use and Privacy Policy. Once you’ve entered your information, the system will offer you a special test to confirm that you are a person and not a robot.

Create an account on the AAX exchange
Step
4

Next, you need to check your email, where the letter for activation of your account on the cryptocurrency exchange will be sent.

AAX Registration Confirmation
Step
5

The letter will contain the instructions: you will need to click on the link inside the letter (a dark button) to confirm your registration.

Instructions for registering on AAX
Step
6

Once you click on the Verify now button, you will be redirected to the website of the crypto exchange that will show you the message about the successful registration.

Registration on AAX

Now all you have to do is make a deposit and start trading.

Minimum deposit

AAX Binance Huobi Global
Minimum deposit $1 $5 $20

Account types

AAX offers three account types: financial, margin and futures accounts. Each of them is designed for a specific type of trading. However, users can monitor the performance of their assets in each wallet separately or all together.

AAX Account Types

As for the demo account, which users can use to test the platform features without spending their personal funds, the crypto exchange does not offer one. To start trading, you need to make at least the minimum deposit in USD or another currency.

Deposit and withdrawal

7

To deposit funds to the account, you need to click on the Wallet button, find the Deposit option and use it. The system will offer you deposit crypto or cash.

Deposit and withdrawal on the AAX exchange

If you are depositing crypto, click on this option and then copy the address of the deposit. You will need to paste it to your external wallet to send the money to your account at the exchange. If you make an error at this stage (for example, the specified address won’t correspond to the currency chosen in the wallet), the money may be lost forever.

If you choose to deposit fiat money, you will need to specify the currency and the electronic system for the transaction, specify the amount and confirm your action. The available currencies include USD, GBP, EUR, BRL, UAH, RUB, KZT and others. The list of payment channels offered for deposits directly depends on the chosen currency.

In order to withdraw your earned income, on the same page click on the Withdraw button and select crypto or cash. The algorithm of actions will be practically the same as the one described above. There is also a detailed instruction on the right side of the screen on how to correctly perform financial transactions for deposit and withdrawal, which will be of great help to traders.

Pros
Low minimum deposit from $1
A possibility to deposit and withdraw funds in crypto and fiat
Rather quite processing of transactions
Detailed instructions on how to deposit and withdraw funds
Cons
Withdrawal limits that depend on the client verification level

Trading platforms

8

AAX offers access to spot and futures trading, services of margin trading with borrowed funds. For spot trading, users are offered one of the three types of orders:

  1. Limit. This is a type of order that is triggered some time in the future. A trader specifies not only the amount of currency he wants to exchange, but also its price. Once the market reaches the price demanded by the client, the trade is executed. This type of order is quite convenient and beneficial considering the high volatility of cryptocurrencies.
  2. Market. This type of order is executed immediately and on the conditions that exist in the market at that specific moment. It means that a trader needs to only specify the amount of funds he is willing to spend.
  3. Stop order. This order type is set in advance and is triggered once the assets of a trader achieve a certain price level. Once a stop order is triggered, the trade is executed on market conditions.

Each type of trading is available on the official website of the exchange and in the mobile version. In addition, clients can download an app for Android or iOS in order to always have access to their account. The set of features of all specified versions is identical.

Pros and cons
Pros
Quick loading of the web version
Availability of the mobile version and apps for Android and iOS
Cons
No desktop version
Comparison table of features
Web version Mobile version Apps
Two-factor authentication + + +
Time frame range 1 minute – 1 month 1 minute – 1 month 1 minute – 1 month
Order types Limit, Market, Stop Order Limit, Market, Stop Order Limit, Market, Stop Order
Quote history + + +
TradingView charts + + +
Trading platforms. Comparison with competitors
AAX Binance Huobi Global
Desktop No Yes No
Mobile version Yes Yes Yes
Android Yes Yes Yes
iOS Yes Yes Yes
Trading platform specs

Traders mostly use the platform on the official website of AAX that you can open on your laptop or PC. To do this, open any browser and enter the name of the exchange in the search bar. Once you open the official website of the exchange, you will see all main types of trading in the top menu. Below the top menu, you can see top offers in the spot market, platform parameters, news summaries and more.

The footer of the page features sections with the terms of use, promotions, financial products, etc. In addition, you can subscribe to the crypto exchange’s newsletter and visit its social media pages.

Trading platforms on the AAX exchange

Traders can also trade at the crypto exchange using their smartphone or a tablet. Both the mobile version of the website and Android and iOS apps are suitable for that. Their interface is optimized for convenient use on devices with small vertical screens. At the same time, all features and functions of the platform are available. If you registered on the exchange earlier using any of the versions of the website or an app, a second registration is not required if you decide to access your account from another AAX platform.

AAX mobile trading platform

As soon as you access the mobile version of the website of the crypto exchange, you will be offered to download the app. Therefore, you don’t even need to search for additional links in order to download it.

download AAX app

Analytics

4

The AAX website does not feature separate analytical materials dedicated to the cryptocurrency market. Future Historical Data is the only theoretical section that may be of interest to traders. It features certain summary data that can be useful for successful trading. The drawback is that this section is only offered in English.

Pros and cons
Pros
Cons
No sections or articles with analytical data

Education

9

As for educational materials, there are quite a lot of them. Users can quickly review the parameters and features of the crypto exchange and market trends in general. For example, there is a Beginner’s Guide that will be quite useful to novice traders. It explains in detail how to set up a user account, buy cryptocurrency or deposit it to an external wallet, how to start trading, etc.

There is also the AAX Trends section featuring various useful information. Notably, the featured information is not directly related to educating traders on how to use the services of this crypto exchange. The materials focus on immersing clients in the world of cryptocurrencies. The majority of articles are either news or expert opinions.

Pros
A Beginner’s Guide for novice traders
The AAX Trends section with news and expert materials on various topics
Cons
No video tutorials, seminars, training courses, etc.

Customer support

7

If a user of the crypto exchange has issues or questions at a certain stage, he/she can contact an operator of the customer support service. The operators are ready to provide detailed information about the features of the exchange, different types of trading, as well as step-by-step instructions on how to deposit and withdraw funds and more.

Traders can also visit the Support section that features separate educational materials and answers to frequently asked questions. If a question is a popular one, you will find a detailed answer to it in this section.

Pros
Live chat
Quick responses from customer support – up to 5 minutes
FAQ section
Cons
Limited number of communication channels
Communication channels

There is a convenient Live Chat for contacting customer support service. It is available, however, only after registration.

AAX client support

Another way to contact a representative of the exchange is to visit its social media pages or communicate in messaging apps. There are no other methods of communicating with the customer support.

Customer support languages

At the moment, English is the only language you can use to communicate with the customer support of the crypto exchange.

Bonuses and promos

7

The AAX crypto exchange offers quite many promotions to its users. For example, in the Task Center, traders can execute certain daily or monthly tasks and receive rewards for that. The tasks include making a deposit for a certain amount, participating in spot or futures trading, joining a Battle, etc. The conditions of such tasks are not arbitrary – all their rules are clearly spelled out in the appropriate section.

AAX Savings Marathon is another promo option. A user needs to simply subscribe to one of the options and once it ends, he/she will be able to receive a prize. After you subscribe the minimum required amount based on the checkpoints. Once the savings period ends, your subscribed amount and the reward will be transferred to your account. You can review all available offers and their conditions in the Promotions section in the menu on the top of the page and in the footer of the homepage.

Summary

7,1

Summing up, the AAX cryptocurrency exchange offers several important advantages. The platform provides access to spot and futures trading in all popular cryptocurrency pairs. The maker and taker fees are quite beneficial and they can be reduced by increasing the trading volume.

The users who use AAB, the native token of the exchange, for trading can receive additional discounts. A large number of promotions and several passive income options are also advantages of the exchange. Educational materials deserve special attention. The website features quite a lot of them to provide beginners with an opportunity to quickly learn the basics of trading on the platform.

There are, however, some drawbacks, one of them being low leverage for spot trading.

Reviews

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