Aspect Information Company Name MIAX Registered Country/Area United Kingdom Founded Year 2022 Regulation FCA（exceeded） Maximum Leverage 1:100 Spreads 0%-0.02% Trading Platforms MIAX platform app, palm trading Tradable Assets Major tokens including Atom, IRIS, BNB, etc. Account Types Standard,Premium,Demo Customer Support 24/7 support through knowledge base, chatbots, live chats Deposit & Withdrawal Credit/debit cards,bank transfer,e-wallets Educational Resources Limited educational resources, FAQ section Overview of MIAX Founded in United Kingdom in 2022, MIAX is a prominent provider of market infrastructure and tradable products, delivering cutting-edge trading, clearing, and investment solutions to a global audience. Operating across North America, Europe, and the Asia Pacific region, MIAX covers a wide array of asset classes, including equities, derivatives, digital assets, and foreign exchange. MIAX operates as the world's leading digital asset management system for cryptocurrencies, safeguarding approximately $140 billion in digital assets on a global scale. It manages a diverse portfolio of major tokens, including Atom, IRIS, BNB, Kava, OKT, BAND, XPRT, IOV, CTK, AKT, DVPN, FET, CRO, ROWAN, XKI, OSMO, MED, SCRT, and others. The platform facilitates permeation zone swaps and liquidity pool functions while ensuring the secure transfer of crypto digital assets. Is MIAX legit or a scam？ MIAX operates under the regulatory oversight of the Financial Conduct Authority (FCA) in the United Kingdom. As of April 15, 2022, MIAX LTD holds a license with the FCA, bearing the License Type “Common Business Registration.” The FCA License No. for MIAX LTD is 14201702.As of now, MIAX has exceeded the regulatory requirements set by FCA. Pros and Cons Pros Cons Diverse portfolio of major tokens Exceeded regulation status Offers permeation zone swaps Limited educational resources Supports liquidity pool functions Lack of transparency regarding operations Focus on multi-chain and multi-currency Potentially complex features for beginners Pros: Diverse Portfolio of Major Tokens: The platform manages a diverse portfolio of major tokens, offering a variety of investment options to users. Permeation Zone Swaps: MIAX supports permeation zone swaps, allowing traders to efficiently manage their assets. Supports Liquidity Pool Functions: Traders can take advantage of liquidity pool functions, potentially enhancing their trading experience. Focus on Multi-Chain and Multi-Currency: MIAX emphasizes the importance of a multi-chain and multi-currency approach, giving developers the option to create interconnected, autonomous applications. Cons: Exceeded regulation status: MIAX has exceeded the regulatory requirements set by FCA. Limited Educational Resources: MIAX lacks comprehensive educational resources, which may pose challenges for traders seeking guidance and learning materials. Lack of Transparency Regarding Operations: Some users might find the platform's operations less transparent, leading to uncertainty about how certain features work. Potentially Complex Features for Beginners: MIAX's advanced features may be complex for beginners, making it less beginner-friendly compared to other platforms. Market Instruments MIAX offers a comprehensive suite of digital asset management products, making it a global leader in the cryptocurrency space. Here's a concrete description of its products: Digital Asset Safeguarding: MIAX is entrusted with the secure storage and protection of approximately $140 billion in digital assets worldwide. This service ensures the safety and integrity of cryptocurrencies held by users on the platform. Diverse Portfolio Management: MIAX manages a diverse portfolio of major tokens, including well-known cryptocurrencies such as Atom, IRIS, BNB, Kava, OKT, BAND, XPRT, IOV, CTK, AKT, DVPN, FET, CRO, ROWAN, XKI, OSMO, MED, SCRT, and more. This portfolio diversity allows users to access a wide range of investment options within the cryptocurrency market. Permeation Zone Swaps: MIAX facilitates permeation zone swaps, enabling users to efficiently exchange one cryptocurrency for another within the platform. This feature enhances liquidity and offers traders the flexibility to adapt to changing market conditions. Liquidity Pool Functions: MIAX provides liquidity pool functions, allowing users to participate in liquidity provision for various cryptocurrencies. This contributes to the overall liquidity and trading efficiency on the platform while potentially generating rewards for participants. Secure Asset Transfers: MIAX ensures the secure transfer of crypto digital assets between users and within the platform. This commitment to security minimizes the risk of unauthorized access or asset loss during transactions. MIAX's digital asset management products are designed to cater to the diverse needs of cryptocurrency investors and traders. Whether users are seeking secure storage, a wide selection of cryptocurrencies, efficient trading options, or participation in liquidity provision, MIAX offers a comprehensive suite of solutions to meet these requirements. Account Types MIAX offers three account types: Standard, Premium , and Demo. MIAX offers a flexible account structure to meet the needs of traders of all experience levels. The Standard account is a good choice for beginners, while the Premium account is ideal for experienced traders and high-volume investors. The Demo account is a valuable tool for those new to crypto trading and want to test strategies before risking real funds. Standard account: The Standard account type is designed for beginners and offers a straightforward trading experience. It provides access to a wide range of digital assets and essential trading features, such as real-time market data, order execution, and portfolio management. Premium account: The Premium account type is tailored for experienced traders and high-volume investors. It offers enhanced features and benefits, such as lower trading fees, priority customer support, and advanced trading tools. Premium account holders also have access to exclusive research and analysis, and personalized services to cater to their unique needs. Demo account: The Demo account is ideal for those new to cryptocurrency trading or looking to test strategies without risking real funds. It allows users to trade with virtual currency in a simulated trading environment, providing a risk-free opportunity to explore the world of crypto trading. How to Open an Account？ By following these five steps, you can open an account with MIAX, providing you access to their trading and investment platform. Always remember to follow security best practices and keep your login credentials safe to protect your account. Step 1: Visit the MIAX Website Begin by visiting the official MIAX website at MIAX Official Website using your web browser. Step 2: Choose the Appropriate Client Once you click the download button, you'll be directed to a page where you can choose the appropriate client for your device. MIAX usually offers clients for various platforms, including mobile and desktop. Select the one that matches your device and operating system for a more stable and convenient experience. Step 3: Register Your Account After downloading and installing the MIAX client, launch the application. You'll be prompted to register for a new account. Provide the required information, which typically includes your email address or phone number, and set a secure password. Follow the on-screen instructions carefully. Step 4: Account Verification Depending on MIAX's verification process, you may need to verify your identity. This often involves confirming your email address and sometimes providing additional identification documents. Follow the verification steps as prompted by the platform. Step 5: Secure Your Account Once your account is successfully created and verified, it's essential to enhance its security. Enable two-factor authentication (2FA) if available and recommended. MIAX takes security seriously, so it's crucial to follow their guidelines for securing your account. Leverage MIAX offers maximum leverage of 1:100 for retail clients. This means that for every $1 of capital that a trader has in their account, they can control a position worth up to $100. For example, a trader with $1,000 in their account can open a position worth up to $100,000. Leverage can amplify both profits and losses, so it is important to use it carefully. Traders should only use leverage that they are comfortable with and that they understand the risks involved. Spreads & Commissions MIAX charges a commission on all trades. The commission rate varies depending on the instrument being traded and the account type being used. For example, the commission rate for forex trades is 0.02% for Standard accounts and 0.01% for Premium accounts. Here is a table of commission rates for some of the most popular instruments traded on MIAX: Instrument Standard account Premium account Forex 0.02% 0.01% Stocks 0.00% 0.00% ETFs 0.00% 0.00% Futures 0.00% 0.00% Options 0.05 per contract 0.04 per contract MIAX also offers a volume discount on commissions. Traders who trade high volumes can qualify for lower commission rates. Here is an example of how to calculate the commission for a forex trade on MIAX: Standard account commission = 0.02% of the trade value Premium account commission = 0.01% of the trade value Trading Platform MIAX Trading Platform offers multi-terminal support, a dedicated mobile app, real-time quotes, and a commitment to providing a high-quality and efficient trading experience. The platform also pays attention to mobile users by optimizing for palm-sized devices. Additionally, MIAX is actively engaged in app testing and development for iOS, ensuring that its iPhone users have access to the latest features and improvements. Key Features of MIAX Trading Platform: Multi-Terminal Support: MIAX Trading Platform stands out for its support of multiple terminals, providing users with the flexibility to access the platform from various devices and locations. Whether traders prefer desktops, smartphones, or tablets, MIAX ensures they can engage in trading conveniently and efficiently. Convenient and Efficient Transactions: MIAX places a strong emphasis on streamlining the trading process, making it both convenient and efficient for its users. This commitment to user experience is evident in the platform's design and functionality, ensuring that traders can execute transactions with ease. MIAX Platform App: The MIAX platform offers a dedicated mobile application (app) that allows users to access its services and features from their smartphones. This app is designed to provide a user-friendly and intuitive interface for traders on the go. Palm Trading: The mention of “palm trading” suggests that MIAX's mobile app is optimized for palm-sized devices, offering a seamless trading experience for users who prefer trading on their smartphones. This feature caters to the growing trend of mobile trading. Real-Time Quotes: MIAX provides real-time quotes, ensuring that traders have access to up-to-the-minute market data. Real-time quotes are essential for making informed trading decisions and staying updated on market movements. Quality Experience: MIAX is committed to delivering a high-quality trading experience to its users. This commitment encompasses factors like platform stability, user interface design, customer support, and the overall reliability of the platform. Fast Charging: While the specific context of “fast charging” is not provided, it may refer to the platform's ability to quickly execute transactions or its efficiency in processing deposits and withdrawals. Speed is often a critical factor in trading, and MIAX aims to meet traders' need for swift execution. iPhone (TestFlight): The reference to “iPhone (TestFlight)” suggests that MIAX is actively involved in app testing and development for Apple's iOS platform. This demonstrates the platform's commitment to staying up-to-date with the latest technology and ensuring a smooth experience for iPhone users. Deposit & Withdrawal MIAX offers a variety of deposit and withdrawal methods to suit the needs of its traders. These methods include: Credit/debit cards: Credit/debit cards are one of the most convenient and popular deposit methods. MIAX accepts all major credit and debit cards, including Visa, Mastercard, and American Express. Deposits made with credit/debit cards are processed immediately and are reflected in your trading account balance instantly. Bank transfers: Bank transfers are another popular deposit method. MIAX provides detailed bank transfer instructions on its website. Bank transfers typically take 1-3 business days to process. Electronic wallets: Electronic wallets are a quick and easy way to deposit and withdraw funds from your MIAX trading account. MIAX supports a variety of electronic wallets, including Skrill and Neteller. Deposits made with electronic wallets are processed immediately and are reflected in your trading account balance instantly. MIAX does not charge any deposit fees. However, there may be fees associated with certain withdrawal methods, such as bank transfers. The minimum deposit amount for MIAX is $100. The minimum withdrawal amount is $50. Customer Support MIAX prides itself on providing robust customer support to assist its users. Here's an overview of MIAX's customer support features: 24/7 Availability: MIAX offers round-the-clock customer support, ensuring that users can seek assistance at any time, including weekends and holidays. This availability is crucial in the world of trading, where market events can occur at any hour. Live Video Chat Support: MIAX provides live video chat support, allowing users to engage directly with customer support representatives in real time. This feature enhances the quality of support by enabling visual communication and immediate problem-solving. Multi-Channel Support: In addition to live video chat, MIAX typically offers support through multiple communication channels. This may include email support, phone support, and a ticketing system, providing users with various options to get in touch. Knowledge Base: MIAX maintains a comprehensive knowledge base or FAQ section on its platform. This resource is a valuable self-help tool, allowing users to find answers to common questions and troubleshoot issues independently. Educational Resources MIAX primarily offers an FAQ section and lacks a comprehensive set of educational resources, which can make it difficult for new users to learn how to use the platform and trade cryptocurrencies. Some of the educational resources that are missing from MIAX include: a comprehensive user guide, video tutorials, live webinars, blogs and etc. The lack of educational resources on MIAX can make it difficult for new users to learn how to use the platform and trade cryptocurrencies. This can lead to mistakes and losses, which can discourage new users from trading. Conclusion In conclusion, MIAX is a broker in digital asset management, boasting the safeguarding of approximately $140 billion in cryptocurrencies, offering a diverse portfolio of major tokens, and facilitating efficient permeation zone swaps and liquidity pool functions. However, the platform faces certain drawbacks, including a limited educational resource base that may pose challenges for newcomers, potentially complex features for inexperienced users, and a lack of regulation regarding operational details and customer support. While MIAX offers substantial benefits for cryptocurrency enthusiasts, prospective users should carefully assess their individual needs and risk tolerance when considering its advantages and disadvantages. FAQs Q: How diverse is MIAX's portfolio of supported cryptocurrencies？ A: MIAX supports a wide range of major tokens, including Atom, IRIS, BNB, Kava, and many others, providing users with a diverse selection of cryptocurrencies. Q: Are there educational resources available for users？ A: MIAX offers an FAQ section for common queries, but comprehensive educational resources are limited. Users are encouraged to explore the FAQ for guidance. Q: Is MIAX suitable for beginners in cryptocurrency trading？ A: MIAX's advanced features may be challenging for newcomers. It's advisable for beginners to start with caution and gain familiarity with the platform. Q: How does MIAX ensure the security of digital assets？ A: MIAX prioritizes the secure transfer and storage of crypto digital assets, implementing robust security measures to protect user holdings. Q: Can I participate in liquidity provision on MIAX？ A: Yes, MIAX allows users to participate in liquidity pool functions, potentially earning rewards for contributing to the platform's liquidity. Q: What are the potential risks of using MIAX？ A: As with all cryptocurrency investments, MIAX carries inherent risks, including market volatility. Users should exercise caution and conduct thorough research. Q: What distinguishes MIAX from other digital asset management platforms？ A: MIAX's unique features include permeation zone swaps, a diverse portfolio, and a focus on a multi-chain and multi-currency future, setting it apart in the cryptocurrency landscape.