ApolloX Exchange Review
What is ApolloX Exchange?
ApolloX is a hybrid cryptocurrency derivatives exchange registered in Antigua and Barbuda that has been up and running since 2021. ApolloX was the first to offer both a centralized exchange (CEX) and a decentralized exchange (DEX) to trade derivatives, but from November 2022 the CEX has been discontinued and only the DEX is remaining.
A derivative is an instrument priced based on the value of another asset (normally stocks, bonds, commodities etc). In the cryptocurrency world, derivatives accordingly derive their value from the prices of specific cryptocurrencies. On ApolloX, you can engage in derivatives trading connected to the following cryptos here: BTC, ETH, ADA, DOGE, XRP, SOL, DOT, MATIC, 1000SHIB, SAND, LTC, LRC, AXS and AVAX. This is quite a lot seeing as many other derivatives exchanges only offer trading in BTC or BTC and ETH.
The platform offers perpetual futures contracts, not regular futures (i.e. contracts with pre-determined expiry dates). Perpetual contracts on ApolloX are USDT-margined contracts that use USDT as collateral.
This platform does not offer FX-trading but focuses whole-heartedly on crypto.
ApolloX Exchange Mobile Support
ApolloX offers leveraged trading to its users. The maximum leverage level is 100x.
A word of caution might be useful for someone contemplating leveraged trading. Leveraged trading can lead to massive returns but – on the contrary – also to equally massive losses.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD if you simply held Bitcoin. Now, as you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, there is potential for huge upside but also for huge downside…
Ultimately, traders should understand the risks associated with leveraged trading. Know your risk appetite and do not take risks you cannot bear. If you need more reading to understand fundamental concepts in leverage and trading, exchanges like ApolloX usually provide FAQs or tutorials in their Help Centres.
ApolloX Exchange Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, on most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). All these are usually in the same view on your desktop. There are of course also variations to what we have described.
This is the trading view at ApolloX:
ApolloX utilizes an order book model. The price chart, buy and sell boxes and order history are in the same view. You can also choose to set different order types and adjust leverage for each trade. ApolloX trading view is similar to many established exchanges and provides a comprehensive overview.
It is up to you – and only you – to decide if the above trading view is suitable to you. There are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
ApolloX Exchange Fees
ApolloX Exchange 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. At this exchange, they divide between takers and makers. When you place a Taker order, your order trades immediately by filling an existing order on the order book with a matching price. When you place a Maker order, your order goes on the order book and will stay there until another trader fills the order.
ApolloX charges takers 0.07%. These taker fees are above the industry average of 0.0591% based on data published in our Q3 2021 Empirical Fee Study.
At this platform, makers are charged 0.02%. This is a bit below the industry average of 0.0215% for makers (according to the same study as referenced above).
ApolloX Exchange Withdrawal fees
ApolloX's withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. Cryptowisser.com performs empirical studies of the average cryptocurrency exchange fees every quarter, and the last such study (for Q3 2021) showed that the industry average BTC-withdrawal fee was then 0.00053 BTC per BTC-withdrawal.
Referral Program and Bonuses
ApolloX Exchange Referral Program
Something that we are very familiar with are referral programs. Some exchanges have them, some exchanges don't. ApolloX is one of the exchanges that does have a referral program. Through the referral program, existing users can refer new users and then earn a small bonus for each qualified referred user: 5 USD. For every three qualified referred users, existing users receive a lucky draw bonus card worth up to 600 USD.
New ApolloX users may want to take note of ApolloX’s beginner bonuses. By completing certain tasks, you can win lucky draw vouchers and cashback vouchers and earn up to 700 USDT.
Deposit Methods and US-investors
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to ApolloX is cryptocurrency. Coins that can be deposited include BTC, ETH, XRP, BNB, BUSD, ADA, DOGE, SOL, TRX and USDT.
However, if you really like ApolloX but don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such an exchange to ApolloX. Use our Exchange Filters to easily see which platforms allow wire transfer or credit card deposits.
ApolloX does not allow US-investors on its exchange. So if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our Exchange Filters, you can sort the exchanges based on whether or not they accept US-investors.
ApolloX Exchange Convert Function
ApolloX does not offer spot trading. However, the platform has a handy convert function to exchange between certain cryptocurrencies with zero transaction fees.