Is AAX a Good Crypto Exchange for Beginners?

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It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether AAX is a good crypto exchange to start trading with. In this article you will learn whether AAX is good for beginners, what its pros and cons are and what a novice trader needs to know.

Short summary about the broker AAX

The AAX exchange is a platform for spot and futures trading of cryptocurrencies and tokens. There is an integrated service for the fast exchange of fiat-to-crypto. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Bitcoin Cash, Tron, BAT, and dozens of other assets are traded on the exchange. You can deposit funds in USD, CNY, HKD, KRW, EUR, TRY, TWD, and SGD. Leverage x100 is available for futures trading. Spot commissions are 0.06%/0.1% for the maker/taker. Commissions for the futures market are 0.02%/0.04% for the maker/taker. Commissions are fixed, but it is possible to reduce them by trading with the AAB token and through bonuses in the form of rebates from the Traders Union. The exchange has a one-level referral program and investment programs (staking) with fixed and flexible deposits. There is a training academy with detailed

💰 Account currency: Cryptocurrencies, fiat currencies
🚀 Minimum deposit: No
⚖️ Leverage: Up to 1:100
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, fiat currencies
💹 Margin Call / Stop Out: No

AAX Pros and Cons

👍 Advantages of trading with AAX:

the exchange offers a large selection of popular cryptocurrencies and coins;

spot and futures trading, futures with x100 leverage;

low fixed commissions for trading operations and withdrawals;

referral program with two types of bonus payments;

the platform's own token, which makes trading more profitable;

high level of information security (complies with CCSS);

LSEG technology for trading with a delay of up to 90 microseconds;

terminal in the browser, mobile application, API and FIX;

high-quality and stable service with large trading volumes

👎 Disadvantages of AAX:

no demo accounts;

no call center;

no license data is available.

What is a Good Crypto Exchange for Beginners?

In order to choose the right broker for a beginner, you need to consider several aspects.

Here are the main ones:

  • Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.

  • Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.

  • Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.

  • Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.

  • Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.

  • Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.

In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.

Trading Conditions for AAX Users

Before you start working with an exchange, it is important that you evaluate its trading conditions. AAX offers traders the following conditions.

💻 Trading platform: TradingView in browser
📊 Accounts: Standard
💰 Account currency: Cryptocurrencies, fiat currencies
💵 Replenishment / Withdrawal: Bank cards, electronic and cryptocurrency wallets
🚀 Minimum deposit: No
⚖️ Leverage: Up to 1:100
💼 PAMM-accounts: No
📈️ Min Order: From 0
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, fiat currencies
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: No data
⭐ Trading features: Spot, as well as trading in futures with leverage of x100; there is an OTC trading service and an exchanger; profitable investment solutions; low fixed commissions that can be further reduced via high efficiency of trades
🎁 Contests and bonuses: Yes

Commissions and Fees

The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of AAX commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.

Information

One of the main advantages of the crypto exchange is low commissions on trades. The platform does not charge commissions for deposits and OTC trading. The conditions for spot and futures are as follows:

  • 0.06%/0.1% for maker/taker for spots;

  • 0.02%/0.04% for futures maker/taker.

If the client has a sufficient amount of AAB token in his account, he can use it to pay commissions. This is the crypto exchange's own token, which is actively traded. The advantage of paying with AAB is that the client gets a 20% discount on commission. To do this, you need to have a token in the account and activate the option to pay commission with it when the trade is being made.

Account type Spread (minimum value) Withdrawal commission
Standard Up to 1% per order Yes

Investment programs of AAX

It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. AAX offers the following passive income options.

Investment Programs, Available Markets, and Products of the Crypto Exchange

The AAX cryptocurrency exchange offers a standard staking-based investment system. The client of the platform can transfer part of his funds to a third party for use by an exchange affiliate, who uses the financial benefits to develop his blockchain project. The exchange acts as an intermediary. The investor receives interest for providing his funds for use by the partner.

There are many programs to choose from on the platform; almost all cryptocurrencies and tokens that are traded on the exchange are available for deposits. Current programs are divided into two large groups, such as fixed and flexible deposits. The difference is that the deposit invested in the flexible program can be withdrawn at any time, it is not frozen. The deposit for fixed programs cannot be used for the agreed period. This can be a period from 7 to 90 days, depending on the stated conditions.

Most of the programs provide deposits for 7, 14, and 30 days. The average rate is 4%, but in some cases, it can be 12%, 15%, 16%, 20%, and even 60% for exclusive projects that need funds quickly. The exchange gives guarantees for deposits and all affiliates of the platform have to pass a multi-level security check.

To participate in investment programs, a client needs to select an asset and make a deposit equal to or greater than the minimum. All actions are performed in a few clicks and take a minimum of time. Interest will be charged daily following the size of the deposit, which can be adjusted (withdrawn or replenished) at any time using flexible programs. For flexible programs, payments are made permanently, for fixed ones interest rates will be paid together with the return of the deposit upon the expiration of the program.

Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

AAX’s affiliate program:

The crypto exchange has a standard referral program with payments for invited users. The client needs to find a personal referral link or QR code in his personal account. They can be placed on any resources without restrictions. Each user who follows the link and registers on the exchange will become a client's referral. The client will receive 20% of his referral's commission fees.

The number of referrals is not limited. The exchange client can invite as many users as he wants. The referral status is eternal and the user remains a referral while registered on the exchange. Information on the number of referrals and payments for them is displayed in the personal account of the exchange client. Payments are made every day in the currency of the transaction when it was made.

The exchange client can receive a one-time fixed payment for each referral, who in this case will also receive a bonus. Two conditions must be met. The referral has made a total of $10,000 or more and deposited over $500 (not necessarily for a trading service, the exchange service is taken into account). When the conditions are met, the referral receives $50 to his account and the user who invited him gets $20.

Conclusion. Is AAX good for beginners?

The AAX cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, AAX could be considered as a good cryptocurrency exchange for a start.

FAQ

What do I need to know about the fees charged by cryptocurrency exchanges?

The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.

How do I choose a reliable cryptocurrency exchange?

Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.

How many cryptocurrencies could a crypto exchange offer?

The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.

What are the risks of investing in cryptocurrencies?

Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.

Team that worked on the article

Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.