Overview
AscendEX (formerly BitMax) launched in August 2018 by Wall Street quant veterans. It now serves retail and institutional clients across 200+ countries, offering spot, margin, futures, staking, DeFi integrations and an OTC desk.
Asset range and product suite
Supports over 400 cryptocurrencies and 450+ trading pairs including mainstream and meme tokens. Spot trading is available alongside up to 25x margin on key assets. Perpetual futures offer leverage up to 100x in both isolated and cross-asset collateral modes.
Fees and VIP structure
Maker/taker fees start at 0.1 percent for large-cap spot trades and 0.2 percent for altcoins. Futures fees range from 0.06 percent taker with potential negative maker rebates (as low as -0.015 percent for VIP users). Deposit fees are minimal or zero - withdrawal charges apply. VIP tiers (0-9) reward high-volume traders and ASD token holders with lower fees.
Fiat on-ramps and payments
Fiat options include wire transfers, credit/debit cards and third-party services. Minimum deposit is just $1. No P2P service is offered.
Liquidity and trading volume
24-hour trading volume is around $782 million, ranking it within the top 40 global spot exchanges. Futures daily volume exceeds $37 billion, with open interest of $28 billion. Liquidity on top tokens is solid, but smaller assets may suffer slippage.
Security, hack history and audits
Security practices include API key controls and penetration testing. However, a hot wallet exploit in December 2021 resulted in a $77.7 million loss. Since then, wallet infrastructure was upgraded and no further incidents have occurred.
Copy trading, staking and DeFi features
AscendEX supports copy trading, staking of stablecoins with APR around 8 percent, DeFi yield farming, and an OTC desk for larger trades.
UX and customer feedback
The interface includes both basic and Pro modes with advanced charting tools. Fiat-to-crypto purchasing is straightforward, though limited without P2P. Customer support is rated moderately, but Trustpilot reviews show mixed experiences - some users report frozen accounts, inactivity fees and slow ticket resolution.
Pros and cons
- Wide asset range (400+ coins), spot, margin, futures
- High leverage via futures (100x) and margin (25x)
- Low base fees and VIP/ASD token discounts
- Fiat on-ramp support and low minimum deposits
- Copy trading, staking, DeFi integrations, OTC desk
- Past hot-wallet hack with $77 million loss
- Complex fee structure and unclear documentation
- Not available for US residents
- Mixed user feedback on support and inactivity fees
- No P2P transfers and limited UI refinements
Who it suits and who it doesn’t
Ideal for:
- Active traders needing leverage, variety and copy-trade tools
- Users seeking staking or farming income
- Traders funding accounts via fiat with low starting amounts
Not ideal for:
- US-based users who are restricted
- Casual investors concerned with security history
- Beginners needing simple interfaces and reliable support
Final verdict
AscendEX offers a wide set of tools for advanced traders - spot, margin, futures, staking and more. Its robust liquidity and competitive fees are attractive, but risks tied to past security issues and uneven support should be weighed. This platform works best for experienced users who understand the landscape and need leverage or copy trading, rather than those looking for simplicity or strict compliance.