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ANXPRO Review - is it scam or safe?

ANXPRO Review - is anxpro.com scam or good cryptocurrency exchange?

RATING: 3 / 0 REVIEWS ANXPRO

RECOMMENDED BITCOIN BROKERS


Trading Accounts and Conditions

 

Account type

Leverage

Taker Fee

Maker fee

Withdrawal fee

Standard

1:1

0.20%

0.10%

$5 + 1.00%

 

ANXPRO is a Hong Kong-based online trading platform specializing in the exchange of fiat-to-crypto currencies (and vice versa). As most other exchanges that work with fiat currencies, ANXPRO also requires its users to verify their accounts by sending identity and other documents.

 

It’s woth noting that this exchange does not provide services to residents of a number of jurisdictions. Restricted jurisdictions include Japan, China, some states of the US (New York, Washington, California, Connecticut, Connecticut, New Hampshire, Georgia), Iceland, Ecuador and Bolivia, among others.



ANXPRO Advantages

 

Many fiat currencies accepted

One of the major benefits of using ANXPRO is that this exchange works with fiat currency. This means easy access to Bitcoin and other digital assets, which is usually appreciated by newcomers in the crypto-world.

 

More specifically, ANXPRO accepts deposits in USD and HKD, and also supports a total of 9 fiat settlement currencies for withdrawals – HKD, USD, EUR, GBP, CAD, AUD, NZD, SGD and JPY.

 

Unfortunately, this exchange does not support a good range of fiat payment options. You can find more details in the Disadvantages section.

 

Low cost of trading

At ANXPRO market takers are charged 0.2%and market makers 0.1% per trade. Such fees are quite competitive and in line with what most exchanges charge.

 

In addition, ANXPRO does not charge any fees on deposits, and withdrawal charges are not high either.

 

Good trading platform

ANXPRO‘s platform is designed to be simple enough to be used by beginners. At the same time, it comes with a good level of sophistication, so that it would also to appeal to professional traders.

 

 

The charting is powered by TradingView and the Vault app is available for both Android and iOS devices. Vault is a Mobile all-in-one mobile wallet and app that allows clients of ANXPRO to trade on the go.

 

5 years of experience

Launched all the way back in 2013, ANXPRO (formerly ANXBTC) has around 5 years of experience, which is quite rare in the crypto industry.

 

Security

This exchanges uses two-step process for logging in, as well as two-factor authentication (2FA) for security purposes.

More importantly, the vast majority of cryptocurrencies at ANXPRO are held offline in cold storage. With increasing incidents of hacking in the crypto world, cold storage offers a safe place for the cryptocurrency holders.



ANXPRO Disadvantages

 

Limited payment methods, suitable only for locals

By the time of writing this, ANXPRO supports only deposits in cash or Hong Kong local bank cheques. This is quite inconvenient and basically means that only locals can use the services of this exchange.
It does not allow bank transfers, e-payments and, nor credit card payments. These are the most popular payment methods worldwide.

 

 

>> Crypto exchanges accepting credit cards <<

 

 

Nonetheless, ANXPRO plans to offer ANX Debit cards in the near furture. Those are prepaid Visa cards, intended to serve as a global payment solution.

 

Only 8 coins listed. No coin-to coin trading

The ANXPRO trading platform currently supports a total of 8 cryptocurrencies – Bitcoin, Ethereum, Ripple, Litecoin, Dogecoin, Start coin, Golem coin, and OAX coin. This is not an extensive selection, but after all, this is an entry-level service, intended mainly for novice crypto-investors.

 

What is worse, users of ANXPRO cannot exchange one coin for another at the platform. They can only exchange the cryptocurrencies listed on the platform for fiat currencies or vice versa.

 

No leverage available

This is not a major flaw, nor it is surprising. Like most cryptocurrency exchanges, ANXPRO does not provide margin trading in crryprtocurrenmcies. There are several who do that, but the number of forex brokers who offer leveraged Bitcoin trading is far greater.

 

 

>> Leveraged BTC trading with forex brokers <<

 

 

Conclusion

 

Formerly known as ANXBTC, ANXPRO is a Hong-Kong entry level crypto service, that allows its clients to exchange digital assets for a number of fiat currencies. Trading on the exchange is low-cost and the platform is simple but yet equipped with advanced charting. We also like the fact that ANXPRO has been operating for almost 5 years now and that it appears to focus on security.

 

More importantly, the company behind the brand, Mega Idea Holdings Limited, has a Money Services Operator license issued by the Hong Kong Customs and Excise Department. Although this does not mean that ANXPRO is a regulated cryptocurrency exchange, its is better than nothing. Most exchanges worldwide are still operating ion the gray area. We would like to remind those of you who prefer investing with well-regulated entities that they can also trade in Bitcoin with forex brokers, some of which are trusted and licensed.

 


>> Regulated Bitcoin brokers
<<

 

 

Now, let’s sum up the weak sides of ANXPRO. First of all, currently the exchange is mostly suitable for locals, as payment methods are rather limited, and there are many restricted jurisdictions. Second, you cannot trade on margin or anonymously on this platform; coin-to-coin trading is not available either.

 

Here is our final recap of ANXPRO:

 

Pros Cons

Low cost of trading

Limited payment methods, suitable only for locals

Many fiat currencies supported

Only 8 coins listed

Good trading platform

No coin-to coin trading

High level of security

No leverage available

5 years of experience

Verification required

 

Not available in a number of countries

 

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Traders` reviews for ANXPRO

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