AEX Review
AEX exchange is a cryptocurrency exchanges out of the UK. AEX Group Ltd launched it in 2017. Even though the content is in English, the platform primarily serves the Asian crypo space. All the large market-cap cryptocurrencies are available for trading on AEX. Also, some of the small and medium market cap digital assets are available. This AEX exchange review will reveal all the distinguishing features of this exchange for you to make a better decision whether to choose it as your trading platform. Keep reading to learn more about this exchange.
AEX’s fixed transaction rate of 0.05% makes it one platform with the cheapest trading cost. Even the industry average is 0.20%. Also, most exchanges’ fixed-rate ranges between 0.10% and 0.20%, making AEX’s trade charges even more enticing to any potential trader. AEX’s BTC withdrawal costs align with the industry standard. It’s 0.001 for BTC and 0.01 for Ethereum. They also charge 0.5% of the amount withdrawn for ripple withdrawals. New digital currency traders would be highly encouraged because the AEX exchange offers fiat-to-crypto trading, which means you can deposit fiat currency and trade in cryptocurrency.
One factor that makes this platform more appealing is the vast number of digital currencies it accepts. Some cryptocurrency traders will find AEX’s margin trading feature particularly appealing.
There are no profiles about the board members behind the exchange apart from the company’s name that owns the exchange. Hence, there is no history or level of expertise of each member of the team. Also, the AEX exchange provides little or no information regarding its security mechanism.
Thus, some traders might find this discouraging because they assume that the exchange lacks trust. However, the platform’s professionally designed website and the app are highly suitable for traders who are always on the move. The mobile app is accessible for android and iOS traders. You can choose to display the website’s language in Chinese or English. While the site primarily displays in Chinese and you can change the website display language to English, it proves that the company’s main target audience is Chinese. But there have been no complaints about either version of the website’s language.
The user interface is simple and can be easily navigated. Hence, you can browse around the website to uncover various other features that may suit your trading strategy. Customer support is also available in English and Chinese, and it is available at any time of the day, week, month, and year.
| Exchange platform | AEX |
| Website | https://www.aex.com |
| Variety crypto | 119 |
| Account needed | Yes |
| Verification steps | 2 |
| Trading platform | Mobile app |
| Payment method | Cash, debit/credit card |
What is AEX?
AEX is a London-based digital currency exchange but has its main headquarters in Seychelles. The exchange was established in 2017 and mainly offers all aspects of cryptocurrency services especially trading on the various legitimate cryptocurrencies such as bitcoin, Ethereum, ripple, tether, and many other ones. The AEX group ltd runs the platform, but their primary focus is the Chinese market.
As a trader on AEX, you can trade the digital currency market via candlestick or spot trading. AEX offers two trading systems – web and mobile. However, each of them has distinct trading tools, and these tools differentiate the two trading systems. It is important to note that spot trading on the platform is easy, and with the exchange’s simple user interface, transactions are fast and completed quickly.
There are two versions of the web-based platform – the standard and the professional. On the standard web trading platform, all the cryptocurrencies that you can trade are displayed on the right side of your trade screen, but the price chart occupies the majority of the screen space. The 24h-hour volume of trades is displayed immediately above the price chart. One unique feature of AEX’s trade volume display is that the volume traded is displayed in bitcoin and USDT. Also, traders can choose either USDT, BTC, or CNC as the base cryptocurrency for trading.
The default price chart display is the 1-hour candlestick, but you can change it to either 1min, 5min, 15min, 30min, 4hour, 1day, 5day, 1week or 1month. Other trading details are displayed below the price chart, and you can view them by scrolling down the page. Conversely, the professional web trading platform is for cryptocurrency expert traders because the display there is slightly more complex than the display on the standard web trading platform.
The order book and real-time transactions are tabbed on the right-hand side of the price chart display on this professional web trading platform. The available virtual assets for trading are displayed on the left side of the price chart display, making the price chart display centrally placed on the web page.
While the default price chart display is the 1-hour candlestick like the standard web trading platform, you can only change it to 1min, 1day, 5day, 1week, and 1month. Apart from the default price chart display, other similarities between AEX’s two web-based platforms are the display and the display positions of the volume traded, base cryptocurrency pair for trading.
Beginner traders and experts will find the trading tools that suit them for their detailed market analysis in any of these web-based trading platforms. You can superimpose any other technical indicators on your chart to perform a more in-depth analysis before trading.
Also, you can trade on the go once you have AEX’s mobile app downloaded and installed on your mobile device. The app is free to download and works perfectly for both iOS and Android users. Apart from placing trades, you can also check your account balance instantly from the app.
AEX allows trading on almost 120 cryptocurrencies paired with either BTC, USDT, or CNC. AEX allows you to trade futures and perform automated market mover (AMM) swaps in what it calls ‘Aswap.’
As a London-based crypto exchange, AEX has several other competitors like Coinbase, BC Bitcoin, Localbitcoins.com, and bit2me. In a way, most of the popular crypto exchanges also have a branch office in London. The availability of a trade web platform for beginner and pro traders is one outstanding feature of this platform.
While the majority of the reviews have been positive, there are still a few complaints. Some of such complaints are low trading volume and liquidity. Also, research shows that the team behind AEX is the same behind BTC38 exchange (a crypto exchange firm that caused the loss of several millions of dollars five years ago when it was hacked, and investors’ money was lost without any remorse from the company).
Available Cryptocurrencies for Trading
AEX allows you to trade any of the popular cryptocurrencies. Whether you are buying or selling cryptocurrencies, you will pay the same amount of 0.05% for each trade. The mobile trading app makes it easy for you to trade from any place and anytime so long you have an internet connection.
Each process of registration, withdrawal, or exchange is completely straightforward. As previously stated, AEX supports several cryptocurrencies, and you can view a list of all of them on any of the trading platforms mentioned above. It won’t make sense to list all of them or even most of them here.
Pros
- Availability of several currencies you can trade
- Sellers and buyers pay the same fees and is even 50% cheaper than Binance, which is considered the cheapest in the industry.
- No fees for deposits
- Two web-based trading platforms for beginner and expert traders
- Dual language website for Chinese and English without grammar errors
- Simple user interface
- Low-interest low for users up to 360 days for return
- AMM swaps (known as Aswap) for users
- About 18 USDT bonus for new users
- Surface pro-mining rewards with no lock-up
- VIP exclusive service
- Ethereum 2.0 mining with circulation at any time without lock-up
- Buy cryptos by monthly installment with a low down payment. Hence, you can easily own cryptos at current low prices.
- Convenient trading using Aswap without waiting to take orders. A first-mining reward is one of the benefits of these features.
Cons
- There are withdrawal fees that are considerably higher than that of their competitors
- Trust issues because the team is also the team behind BTC38, a known-scam crypto exchange
- Low trading volume and liquidity
Deposit and Withdrawal
While you can fund your account with fiat and cryptocurrencies on AEX, you can only withdraw via cryptocurrencies. Keep in mind that you can’t deposit on AEX without having an account with them.
You can also buy cryptos using spot trading and get a loan to start trading. However, you’ll need to make a 20% downpayment before you can access any loan, which is only available in bitcoin and Ethereum. The terms of repayment range from 3 months to 12 months.
Security and Privacy
AEX doesn’t require any provision of documents or government-issued id for you to register and own an account on its platform. You can get started with the registration process with your phone number or email address.
AEX secures user cash with cold storage, and as a measure of prevention against fraudulent withdrawals, you are required to set up a google two-factor authentication on your account. Since the verification process is from google, you can fully trust it to keep your account safe.
Above all, make sure your account’s password is very strong. Your account won’t be active, and you can’t trade until you have verified your account by clicking on the verification link, which you will receive via SMS or email.
AEX also protects your account through several protection methods and plans to give you and other users private keys for additional protection to your account. Once your account is active, you can modify your profile using the profile page on your account.
However, ensure that you aren’t modifying your profile with fake details. If AEX finds you guilty of using fake information in your account, it will suspend your account instantly without warning.
AEX Accepted Countries and Trading View
AEX accepts investors from any country in the world, including u.s. Investors. However, u.s. Investors should confirm that they are legally allowed to trade on this platform. Each exchange has its unique trading techniques.
For optimal results from your trades, check the platform’s price chart for a particular cryptocurrency, order history, and order book to be sure their trading technique suits your trading style. Also, you can check the bought and sell boxes to determine their trading technique. This check is important whether you are choosing AEX or any other exchange.
Trading and Withdrawal Fees
You are paying the same fees for buying or selling any cryptocurrency on the platform. This is called the “fixed-rate” model. AEX charges 0.05% of every trade. Our survey shows that this charge is far cheaper than the average standard in the industry. While deposits are free, withdrawals are not.
If you withdraw in Ripple, AEX charges you 0.5% of the amount you want to withdraw. It charges you 0.01 ETH and 0.001 BTC for Ethereum and bitcoin withdrawals, respectively. Also, you can’t withdraw through any other means; you can only withdraw into your bitcoin, Ethereum, or Ripple wallets. Note that these withdrawal fees are higher than average industry standards, which contradicts their very low trading fees.
Deposit Methods
AEX accepts beginner and pro traders as it accepts deposits via fiat and cryptocurrency. However, you can’t make any deposit without logging into your account. Once you are logged in, click on “start trading” >> buy (choose from either CNC, USDT, or BTC). Click the green buy button for any of the available merchants. Then, fill in your appropriate details in the pop-up box that will appear.
Use the “order” to check your order details even after you’ve placed your order. You can proceed with your order using online banking, Alipay, or WeChat trust. We suggest that you only order from verified merchants, and you can always view verified merchants as the system has automatically screened all merchants.
AEX features
- Purchase digital currency computing power using the mining market
- Surface pro and mining rewards without lock up
- Beginner tutorial via the support center
- Three trade platforms – standard trade web platform, professional trade web platform, and the mobile app
- Futures trading. Perpetual swap: perpetual futures with simple operation.
- Spot trading. High-quality projects that suit your various investment needs
- Convenient trading using Aswap without waiting to take orders.
- Listed on Coinmarketcap and Coingecko exchanges
Trade Platforms
When you click on the ‘trade’ menu, you can choose any of the displayed trade platforms depending on your trading experience level. Regardless of the platform you choose, you can view your order history and various cryptocurrencies you can trade.
The timeframes for the standard trade platform are 1min, 5min, 15min, 30min, 1hour, 4hour, 1day, 5day, 1week, and 1month.
The timeframes for the professional trade platform are 1min, 1hour, 1day, 5day, 1week, and 1month. When you click on the indicators tab on the price chart page, you will discover the various charts such as Bollinger bands, exponential moving average (ema), and moving average convergence divergence (MACD) that you can use for your technical analysis.
You don’t need a different site like tradingview to access volume trading details. AEX’s trading platforms also provide you with other details especially real-time price changes, which is useful.
AEX exchange API
AEX’s API web page provides all details regarding AEX API. It also contains details about the AEX WebSocket API protocol and RESTful API. Businesses and applications can use this API to incorporate any of the available cryptocurrencies into their platforms.
AEX Customer Support
AEX customer support is available at any time of the day, week, month, and year, whether you are making your request via your mobile device or the platform’s website. Also, AEX provides you with a dedicated support rep to receive more focused and timely assistance.
While the platform’s website is in Chinese and English, it accepts payments in various fiat currencies as it has offices in over 90 countries for smooth business operations. AEX plans to continually expand its services in the crypto market till it becomes an acknowledged leader in the space. You can also access support from AEX using any of the leading social sites such as Twitter, Telegram, Facebook, and Weibo.
Conclusion
This AEX exchange review revealed the vital and unique features of this platform. Despite being one of the recent cryptocurrency exchanges in the crypto world, its services don’t indicate its inexperience. You can navigate and trade as a beginner or a professional.
Also, you can trade from any part of the globe regardless of your citizenship. The trade fees you pay are insignificant compared to the industry average. You can make deposits using fiat and cryptocurrency. The exchange’s two web-based trading platform and a mobile trading app makes it unique from similar exchanges. The mobile app makes it easy to place trades on the go.
Other unique features of the platform are the AEX loan and installment crypto purchase.
However, like anything else, there is always room for improvement. AEX users must continue to improve their services in areas where they are found wanting because traders have many options, while exchanges don’t have that many options compared to users. Altogether, the AEX platform is well organized and simple to use.
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AEX is a fraudulent platform that steals thousands from its investors. I lost $100.000 that was stolen from me for paying their commissions and even TAXES on money that I never was allowed to withdraw. In two months of working with the platform, I was requested to pay more and more with the promise that after the payment, I would be allowed to withdraw… that never happened. At the end, my account with AEX was closed, money from my account with them disappeared, and NO response to my questions was ever received. RUN AWAY FROM THIS PLATFORM.