Is ACE Exchange a Good Crypto Exchange for Beginners?
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 ACE Exchange is a good crypto exchange to start trading with. In this article you will learn whether ACE Exchange is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker ACE Exchange
The ACE Exchange was registered in 2018 in Taipei, the capital of Taiwan. It offers browser-based and mobile platforms for spot transactions with cryptocurrencies, including pairs with fiat Taiwanese dollars. In addition to active trading, the clients of the exchange have access to investment plans with different terms, and they can also earn from staking digital assets. The ACE Exchange cooperates with KGI Bank, which is part of China Development Financial Holding, which is in the field of KYC verification and bank trust custody.
| 💰 Account currency: | TWD, cryptocurrencies |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | No |
| 💱 Spread: | 0%-0.2% for makers, 0.1%-0.2% for takers |
| 🔧 Instruments: | Cryptocurrency pairs, TWD + crypto pairs, NFTs |
| 💹 Margin Call / Stop Out: | No |
ACE Exchange Pros and Cons
👍 Advantages of trading with ACE Exchange:
•the ability to start trading with any amount;
•low trading commissions;
•account login protection using two-factor authentication and Google Authenticator;
•availability of investment programs for various needs;
•no fees for depositing funds and withdrawing them to the bank account of the partner network;
•a wide range of crypto assets, including rare coins and tokens;
•the use of advanced DDoS attack protection technologies.
👎 Disadvantages of ACE Exchange:
•the exchange does not support margin trading and does not provide leverage;
•only Taiwanese dollars are available among fiat currencies;
•it's not possible to withdraw money to a bank card.
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:
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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.
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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.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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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.
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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.
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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 ACE Exchange Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. ACE Exchange offers traders the following conditions.
| 💻 Trading platform: | Web platform based on TradingView, mobile apps |
| 📊 Accounts: | Standard |
| 💰 Account currency: | TWD, cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Credit cards and ATMs of the KGI Bank, bank transfers via online banks and bank APP, and cryptocurrencies |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.000033 BTC, 0.1 BNB, 0.001 ETH, 0.01 LTC, 15 USDT, 1 XRP |
| 💱 Spread: | 0%-0.2% for makers, 0.1%-0.2% for takers |
| 🔧 Instruments: | Cryptocurrency pairs, TWD + crypto pairs, NFTs |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Limit, market |
| ⭐ Trading features: | Investment plans with different risk levels and staking are available, and the commission amount does not depend on the trade turnover |
| 🎁 Contests and bonuses: | Discounts on commission for trading |
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 ACE Exchange commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
n the ACE Exchange, makers do not pay a commission for trading popular cryptocurrencies and fiat pairs. The exchange withholds 0.1% of the transaction amount from takers. If a trader trades with rare pairs (TWD + BAAS/DEC/DET/DS/MOCT/UNIC), then the maker’s and taker’s commission is 0.2%. At times, the exchange provides a 10-12% discount on the commission, which is valid for a month. The ACE Exchange does not charge fees for depositing and transferring funds within the user profile. Commission for the withdrawal of cryptocurrencies are: 0.0002 BTC, 0.002 ETH, 0.25 XRP, and 0.001 LTC. Withdrawal of fiat TWDs is free when using the KGI Bank account. An additional commission is charged for withdrawal to an account in the other banks.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | For a $1000 transaction: $1 for the maker $1.5 for the taker |
Yes |
Investment programs of ACE Exchange
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. ACE Exchange offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The ACE Exchange is versatile in ways to earn money. Its clients can make a profit not only through active trading in cryptocurrencies but also by investing in digital assets. The ACE Exchange also offers a two-level referral program to generate passive income.
Investment plans and earnings by staking
The ACE Exchange offers investment plans with different risk levels. Thus, the trader determines his priorities by himself. So, it is possible to earn a high income with high risks or earn a moderate income using moderate risks. Either way, profits should be stable. In addition to the level of risk, the programs differ in financial instruments, the timing of the deposits of funds, and the size of the minimum investments required for participation.
Available investment plans:
conservative plan with a guaranteed income from 2% to 13%;
moderate plan with an expected annual rate of 6%-58%;
the risky plan looks at a potential profit for which in 90 days it can be 10%-41%.
ACE Exchange clients can also earn by holding USDT. Programs with terms from 7 to 365 days with an expected annual return of 8% to 21% are available. If the investor chooses a long-term option (more than 30 days), the accrued interest is reinvested monthly. Thus, the income from the second month is assessed based on compound interest. Also, the exchange occasionally offers earnings on staking the USDC stablecoin.
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.
Referral program from the ACE Exchange
A client of the exchange, through whose link a new user is registered, receives a reward in the form of a cashback of his commissions.
The amount of the cashback varies. For a direct invitation, the partner receives 50% of the referrals' trading commission. If a 1st level referral connects his friends, then the exchange charges 10% of the fees of 2nd level referrals to the creator of the branch (the referrer).
Conclusion. Is ACE Exchange good for beginners?
The ACE Exchange 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, ACE Exchange could be considered as a good cryptocurrency exchange for a start.
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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.
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Team that worked on the article
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 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.