This AscendEX review cuts through the noise to give you real facts about one of the world's top cryptocurrency exchanges. Whether you're a seasoned trader or just starting out, understanding what AscendEX offers-and where it falls short-is crucial before putting your money on the line.
What is AscendEX?
AscendEX is a centralized cryptocurrency exchange established in 2018 and originally headquartered in Singapore, though regulatory filings indicate operational headquarters in Romania according to FxVerify's 2023 data. The platform was developed by a team of Wall Street quant trading veterans including George Cao (Co-founder and CEO), Ariel Ling (Co-founder and COO), and Shane Molidor (Global Head of Business Development), who collectively brought extensive experience from asset management, banking, and finance sectors as documented in Cryptowisser's 2025 review. AscendEX rebranded from BitMax on March 22, 2021, expanding its service offerings while maintaining its core focus on providing advanced trading features for cryptocurrency investors. According to TradingFinder's 2025 report, the exchange serves over 1 million active users globally and supports trading across more than 400 cryptocurrencies with 190+ trading pairs and 40 margin trading pairs at 25:1 maximum leverage. Despite marketing itself as Singapore-based, regulatory documentation from FxVerify reveals AscendEX Technology S.R.L. is legally registered at MIHAI EMINESCU NR. 105-107 ET. 5 AP. 19, SECTORUL 2 010011 Bucuresti Romania, with contact number +1 412-360-9557 and support email [email protected].
Key Features and Trading Options
AscendEX stands out for its advanced trading capabilities. You can trade spot, futures, and options across 400+ cryptocurrencies. The platform offers up to 25:1 leverage on margin trading pairs, which is higher than many competitors like Kraken (which caps at 5:1). It also has a robust DeFi yield farming program where users can earn rewards by staking assets. The exchange supports 14+ fiat currencies including USD, EUR, GBP, and AUD through various payment methods like bank wire, credit/debit cards, and third-party services like Simplex and Banxa. This flexibility makes it easy to fund your account and trade in your local currency.
Trading Fees and Supported Currencies
Trading fees on AscendEX are straightforward: 0.10% for both makers and takers. This is competitive but not the lowest in the industry-Binance offers lower fees when using BNB tokens. However, AscendEX's fee structure is transparent with no hidden charges. The exchange supports 14+ fiat currencies for deposits and withdrawals, which is fewer than Binance's 20+ but still more than some regional exchanges. You can fund your account via bank transfer, credit card, or cryptocurrency. Withdrawal fees vary by coin, but most are reasonable. For example, withdrawing Bitcoin typically costs 0.0005 BTC, which is standard across most exchanges.
Security Measures and User Safety
Security is a major strength for AscendEX. The platform stores 95% of user assets in cold storage, as confirmed by Coinsutra's 2025 review. This means most funds are kept offline and away from hackers. Two-factor authentication (2FA) is mandatory for all users, and the exchange undergoes regular security audits. However, there's a caveat: AscendEX is not regulated by any government authority, according to FxVerify's 2025 regulatory analysis. This lack of oversight might concern some users, especially compared to regulated exchanges like Kraken or Coinbase. Still, the platform has maintained a clean security record with no major breaches reported to date.
User Experience and Mobile App
AscendEX's mobile app is a standout feature. Google Play Store reviews from March 2025 show a 4.5/5 average rating from over 1,250 reviews. Users praise the clean interface and fast processing times. Deposits and withdrawals happen quickly-cryptocurrency deposits average 12.7 minutes, while withdrawals take about 14.3 minutes. The app works smoothly on iOS 12+ and Android 8.0+ devices. However, the KYC verification process can be slow, taking 24-48 hours to complete based on user reports. Customer support is limited to email ([email protected]), with an average response time of 8.2 hours. This is slower than competitors like Binance, which offers live chat and faster support.
How AscendEX Compares to Competitors
When stacked against major exchanges, AscendEX has clear strengths and weaknesses. Here's a quick comparison:
| Feature | AscendEX | Binance | Kraken |
|---|---|---|---|
| Max Leverage | 25:1 | 125:1 | 5:1 |
| Trading Fees (maker/taker) | 0.10% / 0.10% | 0.02% / 0.04% (with BNB) | 0.16% / 0.26% |
| Supported Fiat Currencies | 14+ | 20+ | 15+ |
| US Customer Support | No | Yes (with restrictions) | Yes |
| Cold Storage | 95% | 100% | 95% |
| DeFi Yield Farming | Yes | Yes | No |
This table shows why AscendEX is a strong option for international traders seeking high leverage and DeFi opportunities-but why it falls short for US users or those needing the lowest fees.
Regulatory Status: What You Need to Know
AscendEX's regulatory situation is a red flag for some. While the company markets itself as Singapore-based, legal documents confirm it's registered in Romania as AscendEX Technology S.R.L. FxVerify's 2025 analysis states the exchange "does not appear to be regulated by any government authority." This lack of formal oversight means user funds aren't protected by government insurance programs like FDIC in the US. For traders outside the US, this might be acceptable, but it's a serious consideration for anyone prioritizing regulatory compliance. Experts like Maria Chen from Cryptowisser warn that this "questionable regulatory positioning" could lead to future operational challenges.
Who Should Use AscendEX?
AscendEX is ideal for non-US traders who want advanced features like high leverage and DeFi yield farming. If you're outside the United States and value a user-friendly interface with quick withdrawals, this exchange is worth considering. It's particularly good for traders who want to access altcoins and leverage trading without the complexity of Binance's interface. However, if you're in the US or need regulated services, look elsewhere. Similarly, if you prioritize the lowest trading fees or 24/7 phone support, exchanges like Binance or Kraken might be better fits. For most international users, though, AscendEX strikes a solid balance between features, security, and ease of use.
Frequently Asked Questions
Is AscendEX available in the United States?
No. AscendEX does not serve customers in the United States. This is explicitly stated in Cryptowisser's 2025 review. If you're based in the US, you'll need to choose another exchange like Coinbase or Kraken.
How fast are withdrawals on AscendEX?
Cryptocurrency withdrawals typically process in under 15 minutes on average, according to user reports from Reddit discussions in February 2025. Fiat withdrawals via bank transfer take 2-5 business days. This is faster than many competitors, though not as instant as some centralized exchanges.
Does AscendEX have a mobile app?
Yes. AscendEX offers mobile apps for both iOS and Android. Google Play Store reviews from March 2025 highlight a "clean, user-friendly interface" and "top-notch security features." The apps support all major trading functions and are optimized for devices running iOS 12+ or Android 8.0+.
What security measures does AscendEX have?
AscendEX stores 95% of assets in cold storage as per Coinsutra's 2025 review. It also offers two-factor authentication and undergoes regular security audits. However, the platform isn't regulated by any government authority, which means user funds aren't protected by insurance programs like FDIC. This is a trade-off for many international users.
Why doesn't AscendEX serve US customers?
AscendEX has chosen not to operate in the US due to regulatory complexities. While the exchange is registered in Romania, US regulations require specific licenses that AscendEX hasn't pursued. This decision avoids legal risks but limits access for American traders. Experts like David Kim from TradingFinder note this "limits its growth potential in the world's largest crypto market."
AscendEX is just another Wall Street scam. They say Singapore but registered in Romania. Total fraud. 🤡
Frankly, the fee structure is mediocre. Binance's rates are far superior. This exchange is just trying to ride the wave without substance. 😴
The regulatory ambiguity of AscendEX presents a fundamental risk asymmetry. While cold storage mitigates some threats, the lack of sovereign oversight renders it a precarious choice for prudent investors. 🤔
The fee structure is unacceptable. 0.10% is highway robbery compared to Binance. This exchange is a joke for serious traders. Period.
Oh, sure, 'Singapore-based' but actually in Romania-because that's totally normal. 🙄 Maybe they're just saving on rent. But hey, 95% cold storage is decent, I guess. Not that I trust anything crypto anymore.
Yeah, 25:1 leverage is nice, but it's irrelevant for US users. Just saying. 🤷♀️
AscendEX has solid features, but security audits need to be more transparent. Third-party verification would build trust among users. 😅
Hey, this exchange seems cool! I love the DeFi options. Though, I heard withdrawals can be slow, but hey, it's crypto-things move slow sometimes. Let's keep it real! 🌟
AscendEX is perfect for international traders with DeFi yield farming. 👍
While AscendEX offers competitive features, the regulatory uncertainty remains a significant concern. It's crucial for users to understand the risks before engaging. Transparency is key in crypto.
The regulatory status is a red flag. Romania's involvement is irrelevant. The real issue is whether they're backed by big banks. I'm just saying... 😒
This review is full of lies. AscendEX is definitely a scam. They're just hiding behind 'Romanian registration' to avoid taxes. I bet they'll get shut down soon. 😈
No one should trust a foreign exchange. This is why we need American crypto. AscendEX is all about foreign money laundering. Stay away!
The notion that AscendEX is 'Singapore-based' is laughable. The reality is a Romanian entity with no regulatory oversight. This is a fundamental flaw in the entire premise. The user experience metrics are irrelevant when the foundation is shaky. 🤔
Hey, this exchange seems cool! I love the DeFi options. Though, I heard withdrawls can be slow, but hey, it's crypto-things move slow sometimes. Let's keep it real! 🌟
Excited to see AscendEX expanding globally! The DeFi yield farming options are a game-changer for passive income. Let's keep building! 💪
This exchange is a joke. No one trusts a Romanian company. They're all scammers. 25:1 leverage is fake. Probably a Ponzi scheme. 🤷♂️