Aofex.com is a cryptocurrency exchange with its head offices in London, United Kingdom, and it also has offices in Singapore. It has been active since 2019. Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time.
Aofex Exchange trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. Fortunately for them, AOFEX is also available as a mobile application (both for iPhones and Androids).
How To Start With Aofex.com
To Start Trading With Aofex Exchange Indian Residents First Have To Sign Up For An Account By Following The Steps Below.
Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Aofex.com Website.
Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.
Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.
Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.
Step 5. Click On The “Confirm Email” Link In The Activation Email.
Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Aofex.com.
Fees on AOFEX
AOFEX Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book.
Aofex.com charges what they call flat fees, meaning that both the takers and the makers pay the same fee. In this case, that fee starts at 0.20%. These fees can be considered industry average. In the largest and most recent empirical study performed on industry average crypto trading fees, they found that the industry average spot trading taker fee was 0.215% and the corresponding spot trading maker fee was 0.162%.
Furthermore, Aofex Exchange already quite competitive trading fees are reduced as your trading volume during the preceding 30-day period increases. If you would be one of the crypto whales out there and trade for more than USD 1 billion during the preceding 30-day period, you would be able to reduce your trading fees down to 0.01% in taker fees and 0.00% in maker fees. They imagine that very few traders reach such volumes though. But even if you’re preceding 30-day trading volume is only USD 20,001, you get some discount. The details are set out in the below table
|Level||30 days Turnover(USDT)||Taker||Maker|
1. Maker fees are paid when you add liquidity to our order book, by placing a limit order under the last trade price for buy and above the last trade price for sell.
2. Taker fees are paid when you remove liquidity from our order book, by placing any order that is executed against an order of the orderbook. (Please note when your limit order is executed against other user’s limit order and his/her order placed earlier than your order, you will pay taker fees.)
3. Taker means that the limit order or market order you place is executed with the current maker.
4. When the order you placed is filled by others orders, you need to pay the taker fees.
5. Trading fees will be deducted from you executed total. If you exchange assets to BTC, you need to pay BTC fees.
AOFEX Withdrawal fees
Aofex.com have not been able to find any information on this exchange’s withdrawal fees. This is potentially a risk for you as an investor. Whenever an exchange does not inform of a fee, there is a higher risk that such fee is high. As soon as we receive information on the withdrawal fees at AOFEX, we will update this review and post them here.
On the date of first writing this review (15 June 2021), the platform’s 24 hour trading volume according to Coinmarketcap was very impressive indeed. It was USD 270 million. For an exchange that has only been around for 2 years, such a 24 hour trading volume is really a feather in the hat.
One-stop Trading Platform
All merchants in AOFEX fiat currency trading zone have completed KYC real name verification and paid sufficient deposit, which is a real-time online order processing platform. The platform’s risk control system ensures the security of users’ funds 24 hours a day. It is the first in the industry to use the live detection system to verify the legal currency traders, effectively helping users and businesses to reduce the risk of card freezing.
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