Overview of AAX
AAX, operated by Atom International Technology Ltd, is a cryptocurrency exchange based in China. However, it lacks proper regulation. The absence of valid regulatory oversight raises potential risks, and caution is advised when considering engagement with AAX.
AAX offers a wide range of market instruments, primarily focusing on cryptocurrencies. Traders can access over 200 cryptocurrencies on the platform, including popular options such as Bitcoin (BTC), Ethereum (ETH), and XRP. These instruments provide users with opportunities to engage in various trading strategies and capitalize on the volatility of the cryptocurrency market.
While AAX provides a mobile app and a web trader platform for trading, there are limitations and potential risks. The one-minute trading option, although quick, is highly volatile and considered risky due to the challenging market evaluation within such a short timeframe. Additionally, reviews on WikiFX indicate complaints about the platform, including allegations of fraud, difficulties in fund withdrawals, and poor customer service.
Overall, AAX lacks proper regulation and has received negative feedback from users. Traders should exercise caution and thoroughly evaluate the platform's offerings and reputation before engaging in any transactions.
Pros and Cons
AAX, a cryptocurrency exchange, has several pros and cons. On the positive side, it offers a diverse range of cryptocurrencies for trading, providing users with ample options. The platform also allows for various trading strategies, catering to different preferences. AAX's user-friendly mobile app and web trader make trading accessible. Additionally, it offers promotions, bonuses, and trading contests, keeping users engaged. On the downside, AAX lacks proper regulation, which poses potential risks. Information on account types is limited, and there may be potential issues with withdrawals and account logins. Negative user reviews and complaints have been reported, and customer support channels are limited. The exchange provides educational resources for users, but information on fees and withdrawal procedures is not readily available. Lastly, the main website of AAX is currently down, which may cause inconvenience to users.
Is AAX Legit？
AAX lacks proper regulation. It is important to note the absence of any valid regulatory oversight. This lack of regulation poses potential risks, and it is essential to exercise caution when engaging with AAX.
Market Instruments
Cryptocurrencies: AAX offers a diverse range of market instruments, including Bitcoin and Ethereum futures as well as spot trading. Traders can access over 200 cryptocurrencies on the platform, including popular options such as BTC, ETH, LUNA, AVAX, SAND, MATIC, ADA, ATOM, SHIB, and XRP. These instruments provide users with opportunities to engage in various trading strategies and capitalize on the volatility of the cryptocurrency market.
Account Types
No specific information regarding the account types offered by AAX could be found on their website. It is recommended to visit the official AAX website or contact their customer support for detailed information regarding the available account types and their associated features and benefits.
How to Open an Account？
Here are the steps to open an account on AAX:
Click on the “Sign-Up” button on the AAX website.
Fill in the required details to create your account.
Verify your email address by clicking on the verification link in the email sent by AAX.
If desired, complete the optional KYC procedures by providing identification and address proof documents.
Fees
AAX implements a maker and taker fee model for trading. The trading fees for crypto market and limit orders range from 0.060% to 0.100%. Taker fees are set at 0.10%. However, traders can benefit from reduced fees as low as 0.010% based on their 30-day rolling trading volume. AAX users also have the option to utilize the native token AAB to receive a fee reduction of up to 20%. The exchange offers a tiered fee structure with additional discounts available for futures, OTC trading, and spot trading, providing users with opportunities to optimize their trading costs.
Promotions & Bonus
AAX offers various promotions and bonuses to help users earn additional rewards. In addition to the referral program, where users can earn 20 USDT for each referral, there are friend invitation contests, promotions, bonuses, lotteries, and trading contests with exciting prizes. These incentives keep traders engaged and encourage them to stay on the platform for better chances of winning. Through the referral program, users can also earn a 20% rebate on their referrals' spot trading journey, allowing them to earn more as their referrals trade more.
Deposit & Withdrawal
AAX allows users to deposit digital assets without any fees, including transfers from hard storage devices to the AAX wallet and internal transfers between AAX accounts. However, fiat withdrawals on the exchange are subject to fees, with a minimum withdrawal amount. For Bitcoin withdrawals, a fee of 0.0004 BTC is charged. AAX offers various payment methods for depositing funds, including traditional methods like credit and debit cards, bank transfers, and Visa and MasterCard transactions. The exchange does not impose additional fees for deposits and does not charge fees for OTC trading. Users are advised to review the platform's trading fee structure for more information.
Trading Platforms
AAX provides a mobile app for on-the-go trading. The app is available on both Android and iOS devices, allowing users to access all the features of the platform. Users can sign up, verify their details, and trade directly from their mobile devices. The app is user-friendly and does not require high-end devices or fast internet connections.
Web trader: In addition to the mobile app, AAX offers an easy-to-use trading platform. The platform supports multiple languages, catering to a global audience. AAX Trends, an educational hub, provides valuable resources such as training tutorials, exchange guides, and trading tutorials. The platform also facilitates P2P fiat trading, lending, and spot trading, catering to different trading preferences. With over 200 cryptocurrencies available for trading, users have a wide range of options.
For traders looking for quick trading options, AAX offers one-minute trading, where orders are closed within a minute. However, this type of trading is highly volatile and considered risky, as market evaluation within such a short timeframe is challenging.
AAX also offers opportunities to earn interest through savings accounts and DeFi mining. Users can lock their assets for a specific period and earn up to 60% APY on most assets, with special offers reaching up to 150% APY. For higher-risk options, DeFi mining can provide an interest rate of up to 40% within a 7-day period.
Trading Tools
AAX provides traders with a built-in calculator that enables them to calculate profits and losses for closed trades. The calculator allows users to determine their liquidation price and ROE (Return on Equity) percentage, providing valuable insights to plan trades and mitigate potential losses.
Educational Resources
AAX provides comprehensive educational resources to support its users. Through AAX Trends, an educational hub, users have access to a wide range of guiding content. This includes training tutorials, exchange guides, trading tutorials, and general cryptocurrency topics. Users can also find future guides and other useful resources. The educational materials aim to empower users with knowledge and understanding of cryptocurrency trading.
Customer Support
AAX cryptocurrency exchange provides robust 24x7 customer support. Users can reach out to the platform's service agents through the live chat feature, where highly knowledgeable and helpful agents are available to address queries. AAX maintains active Telegram channels and engages with users through Twitter, Facebook, Instagram, and YouTube, providing additional avenues for communication and learning about the exchange's products. The platform also offers a user-friendly support center with a comprehensive Frequently Asked Questions (FAQ) section, allowing users to find answers to common inquiries.
Reviews
According to the reviews on WikiFX, AAX is criticized for being a fraud platform and for not allowing users to withdraw their funds. One user claimed to be unable to withdraw a significant amount and was asked to pay taxes within 48 hours, with the scammer being identified as Lin Jiaqi from China mainland. Another user complained about various fees and deposits required for withdrawal, ultimately leading to a blocked account and inability to log in, with poor customer service.
Conclusion
In conclusion, AAX has both advantages and disadvantages. On the positive side, AAX offers a diverse range of market instruments, including cryptocurrencies like Bitcoin and Ethereum futures, allowing users to capitalize on the volatility of the cryptocurrency market. The platform also provides a mobile app and a web trader. Additionally, AAX offers various promotions and bonuses, incentivizing traders to stay on the platform. However, it is important to note that AAX lacks proper regulation, posing potential risks for users. The absence of information regarding account types and negative user reviews about fund withdrawals and customer service further raise concerns. Therefore, caution should be exercised when considering engaging with AAX.
FAQs
Q: Is AAX a legitimate company？
A: AAX lacks proper regulation and poses potential risks. Exercise caution when engaging with AAX.
Q: What market instruments does AAX offer？
A: AAX offers a wide range of cryptocurrencies for futures and spot trading.
Q: What are the fees on AAX？
A: AAX implements a maker and taker fee model, with reduced fees based on trading volume and the option to use the native token AAB for fee reductions.
Q: How can I open an account on AAX？
A: Follow the steps on the AAX website to create an account and verify your email. Optional KYC procedures may be required.
Q: What promotions and bonuses does AAX offer？
A: AAX offers various promotions, bonuses, and contests to reward users, including a referral program.
Q: What are the deposit and withdrawal options on AAX？
A: AAX allows fee-free deposits of digital assets but charges fees for fiat withdrawals. Various payment methods are available for deposits.
Q: What trading platforms does AAX provide？
A: AAX offers a mobile app for on-the-go trading and a web trader platform with educational resources.
Q: What trading tools does AAX provide？
A: AAX provides a built-in calculator to calculate profits and losses for trades.
Q: Does AAX offer educational resources？
A: Yes, AAX provides comprehensive educational resources through AAX Trends, including tutorials and guides.
Q: How is AAX's customer support？
A: AAX offers 24x7 customer support through live chat, social media channels, and a support center with FAQs.
Q: What are the reviews about AAX？
A: Some reviews on WikiFX raise concerns about AAX being a fraud platform and difficulties with fund withdrawals.
2023-02-23 12:05
