Apparently ACX has started pretty well and has managed to become one of the leading Australian cryptocurrency exchanges. It boasts a global network of order books that provides deep liquidity and to be the largest Australian cryptocurrency exchange by volume.
Like we already noted, it is not regulated, but this is not entirely a problem for cryptocurrency exchanges in general, as most countries still do not have specific legal framework on the matter. On the other hand, we notice that ACX has strict KYC rules and requirements and have not come across client complaints for being ripped off, so the exchange has good reputation.
An advantage of ACX are the relatively attractive trading conditions with the 0 trading commission and the fixed 1% fee for withdrawal of fiat currency to a bank account.
What we do not like about ACX is that it only works with Australian bank accounts and does not provide other deposit and withdrawal options for fiat currencies. This is a major inconvenience and practically makes it next to impossible for people residing outside of Australia to use ACX’s services.
Another disadvantage of ACX is the relatively small selection of cryptocurrencies, compared to some of its Australian peers.