Overview
ApolloX entered the market in 2021 with a bold pitch - one platform that works both as a CEX and a DEX. The goal was to give traders the speed and liquidity of a centralized exchange alongside the self-custody and open access of DeFi. On paper, that was an attractive mix.
From day one, the exchange leaned into its dual identity. Spot trading, margin options, and perpetual futures sat alongside a decentralized mode for wallet-to-wallet swaps. It even promised up to 150x leverage for those willing to take bigger risks.
Features that defined ApolloX
- Centralized mode offered deep order books, tight spreads, and fast execution.
- Decentralized mode enabled anonymity and permissionless trading without leaving the site.
- Standard limit and market orders plus stop-loss and trailing stop functions.
- Mobile app mirrored desktop performance and interface for consistent use.
- Native APXT token integrated for lower fees, staking rewards, and limited governance input.
Liquidity and market reach
Early on, ApolloX kept spreads tight on major pairs and offered spot fees around 0.10%, futures at roughly 0.02% maker and 0.07% taker. The decentralized side experimented with zero-fee swaps to draw activity.
Liquidity stayed strong on top pairs but thinned on niche markets. The DEX mode saw less traction, with most activity concentrated on the CEX side.
Risks and weak points
ApolloX operates without top-tier regulatory licensing, reducing user protection if issues arise. Trust scores on data aggregators hover near 5/10, reflecting strong technical delivery but unanswered compliance and security questions. Adoption lagged behind its potential, and it never gained the branding of larger hybrid exchanges.
Security and user experience
Security includes 2FA, cold storage, and withdrawal whitelists. However, the exchange lacks transparent audits or third-party security certifications. The UI is sleek, fast-loading, and consistent across modes, though the range of options may overwhelm casual users.
Who it works for
ApolloX suits traders who want to switch between centralized speed and decentralized privacy without juggling accounts, and those into high-leverage derivatives who understand the risks.
It is less appealing for casual buy-and-hold users or those who value licensed, highly regulated platforms.
Strengths
- Dual-mode design with CEX and DEX access in one place
- Competitive trading fees and occasional zero-fee promotions
- Strong derivatives offering with up to 150x leverage
- Functional mobile app with full feature parity
Weaknesses
- Lacks major regulatory backing
- Moderate trust score compared to top-tier exchanges
- Limited adoption of the DEX mode over time
Final take
ApolloX set out to bridge the efficiency of centralized trading with the openness of decentralized networks. It succeeded in building a smooth, flexible platform, but without stronger regulation and broader adoption, it risks staying in the shadows. For informed traders who want its mix of modes and leverage, it can be a valuable tool. Others should approach with equal measures of curiosity and caution.