As 2022 comes to a close, the FTX debacle is the big story in the Crypto Universe. Unfortunately, far too many have again learned the hard way Crypto’s number one rule:  “Not Your Keys, Not Your Crypto”. 

For traders, the ApeX Pro Exchange really couldn’t have come at a better time. In this 2023 review, I will cover exactly why this platform is a much needed and very exciting innovation within the crypto space. I will also cover in detail the major elements of the platform, so that you’ll have a solid understanding of the what, how, and why before you dive into ApeX Pro yourself.

Let’s get started.

What’s the ApeX Pro Exchange 

The ApeX Pro Exchange is a true Web3 trading platform. The exchange offers traders access to USDC-denominated, cross-margin, perpetual contracts via an order book trading model. Apex Pro is non-custodial, permissionless, and decentralized. It operates on the Arbitrum Layer 2 network for Ethereum. 

• Non-Custodial:  ApeX Pro does not custody traders’ funds. Instead, funds are held in smart contracts on Arbitrum. Users retain full control over their funds.
• Permissionless:  ApeX Pro is a permissionless DEX. There is no KYC. It’s 100% private. Connect your Web3 wallet to the platform and trade with anonymity. 
• DEX + Order Book = ApeX Pro:  ApeX Pro is a DEX and order book combination. DEXs offer enhanced security and transparency, and order books provide better trading insights and optionality.
• USDC-Denominated, Cross-Margin, Perpetual Contracts:  ApeX offers BTC, ETH, XRP, ATOM, and DOGE cross-margin, perpetual contracts, denominated in USDC with up to 20x leverage. 

Apex Pro was developed by Starkware, an Israeli-based blockchain and Ethereum scaling solution development company. The exchange launched in early 2022. 

ApeX Pro Exchange: Quick Summary

Exchange Statistics *At time of publication	24H Trading Volume: $44M Open Interest: $15M 24H Trades: 39K
Security and Privacy	Security provided by STARK proof ZK rollup smart contracts on Arbitrum Layer 2 100% Private
Ease of Access, Control, and Use	Connect in approximately 10 seconds Currently compatible with Arbitrum, Ethereum (ETH), Binance Chain (BNB), and Polygon (MATIC) chains.  Seamless crypto-in within 5 min, USDC-out in 5 min or 4 hours Simple, intuitive interface
Fees	Free crypto deposits & withdrawals Expedited ETH network withdrawals are charged a slightly higher gas fee + 0.1% total withdrawal amount fee 0.02% – 0.05% Maker – Taker Fee
Supported Trading Instruments, Orders, and Tools	BTC, ETH, XRP, ATOM, & DOGE perpetual contracts Long & short with market, limit, & conditional limit orders. Close with stop loss, take profit, market & limit orders. Up to 20x leverage  TradingView charts with full menu of indicators
Unique Features & Aesthetic Experience	Large account dashboard with all the important metrics Two native currencies, APEX and BANA that work with the Trade-to-Earn rewards program
Aesthetic Experience	Intuitive dashboard & trading desk  Clean, dark charcoal background & TradingView charts

Security and Privacy 

The security of user funds on ApeX Pro is as strong as the underlying security of Arbitrum Layer 2, ZK rollup technology, Starkware’s smart contract software, and your Web3 wallet. 

Starkware utilizes StarkEx ZK rollup smart contact technology on the Arbitrum Layer 2 network. When users send funds to ApeX Pro, they are actually sending funds to StarkEx smart contracts on Arbitrum. All of this is visible on-chain. Users have ultimate control over these smart contracts. If a transaction request is not properly served, users are able to freeze their smart contracts and proceed with either a forced withdrawal or a forced trade in order to retrieve their funds. 

Users enjoy 100% privacy and anonymity on ApeX Pro. Because most Web3 wallets do not receive personally identifying information, and because all that’s required to trade on ApeX Pro is a connection to a Web3 wallet, trades on this platform are as private as any other DEX. 

Ease of Access, Control, and Use 

ApeX Pro Exchange really shines when it comes to ease of access, control, and use. It’s so easy even your grandpappy could do it. 

With your Web3 wallet open, connecting to the exchange takes about 10 seconds. Simply go to the exchange URL, and in just a few clicks you’re connected. 

ApeX Pro is compatible with the Arbitrum, Ethereum (ETH), Binance Chain (BNB), and Polygon (MATIC) networks for deposits and withdrawals. Because the platform is compatible with all EVM chains, more networks might be added in the future. 

ApeX Pro is a crypto-in, USDC-out exchange. To make a deposit, click the “Deposit” icon, select your desired chain, asset, deposit amount, and confirm. Crypto arrives to the proper Layer 2 smart contract in about five minutes (where it’s automatically converted to USDC) and is immediately available for trading. 

For withdrawals, click the “Withdrawal” icon, select your chain, desired withdrawal amount, and confirm. Because all exchange funds are denominated in USDC, only USDC can be withdrawn. For Ethereum network withdrawals, users can initiate either a “Fast” or “Normal” withdrawal: 

• Fast Ethereum Withdrawal:  Funds take approximately five minutes to arrive. $50K max can be sent in a fast withdrawal. See “Fees” section for details. 
• Normal Ethereum Withdrawal:  Funds take approximately four hours to arrive.

Navigating the platform is easy. ApeX’s trading interface is simplified, clean, and intuitive. The exchange has a more narrowed set of trading instruments and order types, so the system doesn’t come across as overly confusing. 

Fees

ApeX Pro does not charge a fee for crypto deposits or withdrawals (obviously, users cover their own gas fees). If a user elects to initiate an expedited withdrawal on the Ethereum chain, they will pay a slightly higher gas fee plus a 0.1% fee of the total withdrawal amount. 

ApeX Pro is an order book model, so the platform uses the Maker – Taker fee system. Fees are 0.02% and 0.05%, respectively. 

ApeX Pro Exchange: Fees

Crypto Deposit	Free
Crypto Withdrawal	Ethereum Fast: Slightly higher gas fee + 0.1% fee of total withdraw amount	Ethereum Normal & Non-Ethereum Chains: Free
Trading Fees	Maker:  0.02%	Taker:  0.05%

Because ApeX Pro is a perpetual contract trading platform, funding fees are paid between long and short traders every hour. The funding fee rates aren’t significant. But see here for further details. 

Supported Trading Instruments, Orders, and Tools

The power of ApeX Pro is in its simplicity. The exchange doesn’t offer everything under the sun, but what it does offer is done right. 

• Trading Instruments:  BTC, ETH, XRP, ATOM, and DOGE cross-margin, perpetual contracts, denominated in USDC.
• Orders:  Long and Short with Market, Limit, & Conditional Limit orders. Close with Stop Loss, Take Profit, Market and Limit orders.
• Leverage:  BTC and ETH set at default 20x leverage. The other three are set at default 10x. 
• Tools:  Beautiful TradingView charts with a full menu of indicators integrated into the platform. 

Unique Features & Aesthetic Experience 

ApeX Pro features a large account dashboard that intuitively summarizes in real-time all the pertinent information with regards to users’ accounts, trades, and the ApeX Pro exchange market. 

The dashboard focuses on the real-time financial status of the user’s account. Users can see how their total equity has changed over time, their available margin, leverage, contract value, daily profit, and financial status of open trades. The twenty-four hour trade volume, numbers, open interest, and additional crypto derivative information is featured directly below the main account details. Past orders, transfers, and funding information is accessible in side menus. 

ApeX Pro has two native cryptocurrencies, APEX and BANA.

• APEX is the platform’s governance token. It gives community members a degree of control over the direction of the platform. 
• BANA is the platform’s rewards token. It’s used in ApeX Pro’s Trade to Earn program. 

Trade to Earn is a method for traders to earn BANA. Traders receive it when making trades. The program works within a 52 week epoch system. BANA is unlocked at the end of each week and available for sale into USDC. Traders can elect to hold their BANA for a full year, at which point it can be swapped for APEX. Alternatively, users can put the funds into the BANA-USDC liquidity pool for a way to make even further passive income off their trades. 

ApeX Pro is aesthetically pleasing. The platform, dashboard, and trading desk are logically ordered and intuitive with a clean, dark charcoal background.

Conclusion

If you can’t tell by now, I’m a legitimate fan of this platform. Here’s why I think it’s so great: 

The DEX + order book model is a true innovation and possibly the future. Given the absolute cluster that’s SBF / FTX, the DEX model provides private, permissionless access, with users remaining in control of their funds on the blockchain. And all the while, traders are able to take advantage of the order book setup. This is a big deal. 

And like any other Web3 application, connecting to it is seamless. It’s nice to be able to connect to a serious exchange within a few seconds. The narrowed set of trading instruments is refreshing. For me, there’s no sense of feeling overwhelmed. And with the straightforward, intuitive, and gorgeous interface, ApeX Pro offers one product and they offer it very well!
I’ve been using this ApeX Pro daily since I first came across it. I’m really looking forward to continuing to use it throughout 2023 when it comes to my crypto derivatives trading.