- AAX Exchange announces the launch of its trading platform.
- According to AAX, it will have zero-fee trading.
- It offers crypto futures contracts, 80+ spot pairs, P2P fiat trading, and much more.
Today, cryptocurrency exchange AAX announces the introduction of its zero-fee trading program across all its spot pairs. According to the exchange, users trading on the platform will benefit from completely free trades, both for the maker and taker orders and across all volume tiers. More so, all changes are set to take effect in early August.
Of note, AAX is a premium crypto exchange that is favored by more than a million users. It is powered by London Stock Exchange’s (LSEG) Technology and top-grade API connectivity. Apart from this, it offers crypto futures contracts and has more than 80 spot pairs on its platform.
AAX is opening its doors to all traders who wish to save on often-prohibitive commissions seen elsewhere. Also, the exchange offers unparalleled stability and low latency, making it the perfect venue for all traders.
With the increase of crypto’s total market cap in the first half of the year, AAX plans to meet this surging demand. Thus, the exchange plans to lower the access barrier for novice traders using this zero trading fees initiative.
As per AAX COO Toya Zhang, he believes now is the right time to make a big move in this financial revolution brought by crypto. He further explained,
We live in historical times where we will discover the power of collective action and focus in driving one of the biggest social and economic transformations of the century. With just under 2% of the world’s population in crypto, there is still so much room for growth and we believe removing as many barriers as we can to drive adoption is the right course of action at this stage.
To highlight, Zhang also said that they are ‘not making money from the spread’. In fact, he said, if the competition between centralized exchanges is about driving the trading fees down, ‘let’s just go straight to zero’.
Lastly, AAX Exchange is reportedly offering a platform for peer-to-peer (P2P) fiat trading and lending. The OTC platform shall allow simpler trade execution for large clients, while the Fast Buy option is meant for beginners. Not just that, they will be offering a wide range of both fixed and flexible savings packages for more than 50 crypto assets with up to 20% APY.