Our overall score is a weighted average across six categories, each evaluated across multiple sub-criteria. Here's what each pillar covers and how much it contributes to the final score.
Last updated: April 2026
Our Review Methodology
Every score on AAFX.IO is the result of hands-on testing, live account verification, and a structured 87-point evaluation framework — not guesswork, not PR relationships, and not paid placements.
Our Editorial Independence Pledge
No exchange, broker, or financial company pays to influence our scores. We open every account with our own capital. We have turned down paid placements. Our revenue comes from affiliate commissions — and we disclose every single one.
No paid scores
Live account testing
Quarterly score updates
Full affiliate disclosure
Public methodology
Our Review Process — Step by Step
01
Open a Live Account
We register as a real user, complete KYC, and fund the account with our own capital. No demo accounts. No special media access.
02
Execute Real Trades
We place spot orders, test futures execution, verify fee deductions, and check slippage on multiple order types across different market conditions.
03
Test Withdrawals
We withdraw funds via crypto and fiat methods, recording processing times, actual fees charged, and the clarity of the process.
04
Contact Support
We submit genuine support tickets via live chat, email, and any available phone line — then measure response speed and quality.
05
Score 87 Criteria
We systematically score all 87 data points across our six evaluation pillars, then calculate weighted category scores and a final overall score.
06
Quarterly Re-evaluation
Exchange products, fees, and regulatory status change. We re-score every exchange at minimum once per quarter and update pages immediately when material changes occur.
The 6 Scoring Pillars
Fees & Costs
Spot fees, futures fees, withdrawal fees, deposit fees, inactivity fees, and hidden cost discovery.
20% of scoreSecurity
Cold storage ratio, 2FA options, insurance funds, proof of reserves, past breaches, and response record.
20% of scoreTrading Features
Order types, charting tools, leverage availability, derivatives suite, bots, API quality, and copy trading.
18% of scoreAsset Selection
Number of listed assets, trading pairs, fiat on-ramp availability, and liquidity depth across pairs.
17% of scoreRegulation & Trust
Licensing in key jurisdictions, regulatory history, compliance infrastructure, and legal structure clarity.
15% of scoreUser Experience
Desktop platform quality, mobile app rating, onboarding flow, support quality, and documentation depth.
10% of score87-Point Criteria Breakdown
Within each pillar, we evaluate specific measurable criteria. Below is the full list of what we assess in each category.
| Pillar | Criteria Evaluated | Points |
|---|---|---|
| Fees & Costs | Spot maker/taker fees · Futures fees · Withdrawal fees per network · Deposit fees · Fee discount programs · Hidden fee discovery · Fee calculator availability · Spread on market orders | 18 pts |
| Security | Cold storage ratio · 2FA options (TOTP, hardware key, biometric) · Insurance/SAFU fund size · Proof of reserves publication · Security audit history · Past breach record and response · Anti-phishing features · Withdrawal whitelisting · Session management | 17 pts |
| Trading Features | Order types available · Charting tool quality · Futures/derivatives suite · Options availability · Margin trading · Leverage range · Trading bots · API access and documentation · Copy trading · Institutional tools | 16 pts |
| Asset Selection | Total cryptocurrencies listed · Trading pairs available · Fiat currencies supported · Liquidity depth (BTC/USDT spread) · New listing process quality · Stablecoin support · P2P marketplace availability | 14 pts |
| Regulation & Trust | Number of regulated jurisdictions · Quality of key licenses (FCA, MAS, ADGM, FinCEN) · Regulatory compliance history · Ownership transparency · Legal entity clarity · Customer fund segregation · Terms of service fairness | 13 pts |
| User Experience | Desktop platform usability · Mobile app rating (iOS/Android) · Onboarding simplicity · Help center quality · Live support response time · Support resolution quality · Interface customisation · Beginner-friendliness | 9 pts |
How scores are calculated: Each criterion receives a score from 0–10 based on our assessment. Points are weighted and summed within each pillar to produce a category score. The six category scores are then combined using the percentage weights above to produce the final overall score out of 10.
What Our Scores Mean
| Score Range | Rating | What It Means |
|---|---|---|
| 9.0 – 10.0 | Outstanding | Industry-leading in most categories. A benchmark exchange with minimal weaknesses. |
| 8.0 – 8.9 | Excellent | Highly recommended. Outperforms most competitors with only minor shortcomings. |
| 7.0 – 7.9 | Good | A solid choice for many traders. Some areas lag behind top-tier competitors. |
| 6.0 – 6.9 | Average | Acceptable for specific use cases. Noticeable gaps in one or more key areas. |
| Below 6.0 | Below Standard | Significant weaknesses. We typically do not recommend these exchanges. |
How Often We Update
Quarterly
Full Re-evaluation
Every exchange is fully re-scored across all 87 criteria at minimum once every three months.
Immediate
Material Changes
Fee changes, security incidents, regulatory actions, or major product launches trigger an immediate review and score update.
Monthly
Data Verification
Fee data, asset counts, and regulatory status are spot-checked monthly to catch unreported changes.
Every review page displays a "Last reviewed" date at the top. If a score was updated following a material change, we note what changed and why in the review itself.
Who Reviews the Exchanges
All reviews on AAFX.IO are written and verified by named analysts with direct trading experience in the markets they cover. We do not publish anonymous reviews.
AA
Arslan Ali — Lead Analyst, Crypto & Forex
10+ years trading forex and cryptocurrency. Specialises in exchange fee structures, derivatives markets, and broker due diligence. All crypto exchange reviews on AAFX.IO are personally verified by Arslan. Full bio →
Affiliate Disclosure: AAFX.IO earns commission when readers open accounts via links on our review pages. This revenue is what allows us to maintain free access to our research. It does not influence scores, rankings, or editorial content. Every affiliate relationship is disclosed on every relevant page.
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