M2 Exchange Review 2024: The Pinnacle of Trading Platforms?
TL;DR
In this M2 exchange review, I will evaluate this new trading platform and test its features.
Launched in October 2023, it is a relatively new platform that quickly built a solid reputation, underscored by obtaining an FSRA license. Plus, a stringent Know Your Customer (KYC) process ensures the secure custody of digital assets.
While it supports 30+ tokens, which may be limiting for professional traders, the crypto earns feature with 11.5% APY covers this deficiency.
M2’s trading fees range from 0.14% to 0.24%, with a withdrawal fee of 0.0005 BTC, positioning it competitively as these rates are below industry standards.
Despite its pros, it still needs to improve in some departments, such as providing more responsive customer support and expanding user educational resources. Let’s dig in!
M2 Exchange Overview
| Aspect | Details |
|---|---|
| Coinwebs Rating | ⭐⭐⭐⭐ (4.7) |
| Launched In | 2023 |
| Founded By | Stefan Kimmel |
| Regulated/Licensed By | Financial Service Regulatory Authority (FSRA) |
| Headquartered In | Abu Dhabi, UAE |
| Supported Crypto | 30+ Cryptocurrencies |
| Features | Instant Swap, Crypto Earn, Advanced Order Types |
| Customer Support | Live Chat & E-mail |
What is M2 exchange?
M2 Exchange is a cryptocurrency exchange based in Abu Dhabi, United Arab Emirates. Launched in 2023, the platform was founded by Stefan Kimmel, currently serving as the company’s CEO.
While M2 has obtained a license from the Securities Commission of Bahamas, its biggest highlight has been its regulatory approval from the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA).
With this green light from regulators, M2 can operate as a multilateral trading facility and has to ensure transparency and compliance with rules to avoid any FTX-like scenario.
The highlight is that this approval allows institutional investors to trade, buy, sell, and custody digital assets like Bitcoin and Ethereum.
Who should use it?
Although M2 is designed to offer services to institutional and retail clients, here is who we think should use it:
New crypto traders
For new crypto traders, the high fees can be a dealbreaker. Recognizing this, M2 is a better choice with its competitive withdrawal fees of 0.0005 BTC. This rate is lower than standard market rates.
Moreover, the simple interface makes it easy to learn its advanced features like futures, spot, and derivatives trading. Plus, the signup process is seamless and only needs 10 minutes to register a KYC-approved account.
Institutions looking to trade crypto
If you are an institution that wants to hedge against inflation, a healthy option is to move part of your assets over to the M2 Exchange. Their crypto custodial services and regulatory compliance are a no-brainer. In addition, as an institutional investor, you benefit from its high yield of up to 11.5% APY.
Not only that, but it also offers a range of risk mitigation strategies and a great onboarding process.
Why Choose M2 Exchange?
Here are the reasons to choose it:
Regulated by the Financial Services Regulatory Authority
M2 exchange is regulated and has earned a Financial Services Permission (FSP) license from FSRA in the Abu Dhabi Global Market, establishing trust in the crypto space. This is to avoid situations like FTX.
This license means that all its operations are monitored, ensuring it’s transparent, secure, and audited. It is good for investors as they can be reassured their assets are safe with ownership transparency.
Easy to use
From signing up to trading, M2 streamlines the whole process. When creating an account, it only took me a few minutes to complete the KYC process and get started.
I liked the minimal design of the website; it is clutter-free and doesn’t include any extra unnecessary information. I would compare it to Coinbase’s UI, with a hint of green.
Compared to Binance, you get overwhelmed by the numerous on-screen options. In contrast, M2 is clean and displays only essential trading information.
The M2 mobile app
Their dedicated mobile app fits the needs of traders like me, who value the ability to trade while commuting. Available on IOS and Android, the app is easy to download, set up, and use.
Moreover, the app is responsive, and there were no lags when I did a few trades on the go without a laptop. Also, you won’t feel much difference in usability as it follows the website’s design and experience.
Instant swaps
The Instant Swap feature supports the top 30+ tokens. It checks the exchange rate; you specify the amount you want to swap and hit enter.
I exchanged my FIL for UNI, and within seconds, the new tokens appeared in my wallet.
In terms of liquidity, it’s well-managed. The instant swap is independent of finding someone in their order book to match your trade. It uses its coins and partners with liquidity providers to make your swap fast.
M2 Exchange Review: Key Features
Let’s explore some key features:
Spot trading
Spot trading on the M2 exchange feels familiar. You can access all the standard trading tools you find on other exchanges. This is done right from the M2 trading screen, with an adjustable modular layout – my favorite feature.
It supports ‘Fiat On and Off-Ramp,’ which means you can buy cryptocurrencies with cash or exchange one cryptocurrency for another.
I deposited $100 and received the equivalent in Bitcoin (BTC). Then, I traded that BTC for Ethereum (ETH). When testing their withdrawals, I cashed out my ETH for USD and into my account in 7 minutes.
Trading interface
M2 stands out for its straightforward design and focuses on the essentials, displaying order types, tradable currencies, amounts, and the order book.
However, unlike Binance, M2 offers even more advanced drawing tools for analyzing price trends.
In the price section, you’ll find information on the 24-hour trading volume and the highest and lowest prices reached during the day. Like most top exchanges, M2 also uses TradingView, widely recognized as the best in the business.
Advanced order types
Here are four different advanced order types available on M2:
- Market Order: Market Order on M2 works like every other crypto exchange, offering immediate buying or selling of a cryptocurrency at the current market price.
- Limit Order: On M2, a Limit Order lets you set a specific price for buying or selling cryptocurrency. A buy limit executes at that price or lower, while a sell limit executes at that price or higher.
- TWAP (Time-Weighted Average Price): M2’s TWAP order type spreads a trade over a set time frame to get an average price. I tried executing the TWAP order for 1 ETH over 24 hours; it was divided into smaller trades executed evenly during that period.
- Dynamic Order: The Dynamic Order is powered by AI to buy or sell based on market conditions automatically. You choose between passive and aggressive options for traders to manage orders. The M2 AI evaluates market dynamics with 140 data points every 30 seconds and adjusts waiting periods. This is their secret sauce.
30+ supported currencies
As a new exchange, M2 supports 30 cryptocurrencies. They have decided to take a nuanced approach and focus on credible assets.
Here are some of the tradable assets:
High Staking APY
M2’s Earn feature allows users to put their crypto assets to work and earn up to 11.5% APY in return.
To minimize the risks and maximize earnings, It generates yields by allocating assets from different plans for on-chain opportunities, including mining, staking, liquid staking, algorithmic trading, and collateralized lending.
These yield services operate on a 24-hour reward cycle, starting at 10:00 UTC, and your assets begin earning rewards after activation.
I tested the M2’s Earn feature and staked 10 SOL on a custom plan lasting 30 days. At a 6.00% APY, I earned 0.05 SOL after 30 days.
However, the asset return varies, typically within 24 hours for flexible plans. But for custom /fixed plans, it is 48 hours. I chose the custom plan and got my funds within the given timeframe.
Moreover, M2 charges no startup fees for different plans, but there are subscription limits and cancellation fees for fixed/custom plans.
| Name | Token | APY (up to) |
|---|---|---|
| Tether | USDT | 5.50% |
| Bitcoin | BTC | 5.00% |
| The Sandbox | SAND | 4.40% |
| Curve DAO | CRV | 4.40% |
| Filecoin | FIL | 4.40% |
| ApeCoin | APE | 4.40% |
| Ripple | XRP | 4.40% |
Here are the types of plans offered:
- Fixed-Duration Plans: You can choose from fixed-duration plans lasting 30 days, 60 days, or 360 days. The assets deposited in these plans are returned to users at the end of the plan duration, along with auto-compounded rewards.
- Custom-Duration Plans: These plans function similarly to fixed-duration plans but allow users to select a duration between 30 and 360 days.
- Flexible Plans: These are perpetual plans with no set end date. Users have the flexibility to cancel them at any time, either in part or entirely. They can also adjust the amounts as needed.
M2 wallet
After creating an account with M2, you get two wallets:
- Main Wallet
- Spot Wallet
Both wallets require KYC verification before you can use them. I found the main wallet practical as it can be used for staking and swapping crypto assets.
On the other hand, the spot wallet was quite handy when I participated in spot trading.
I had no delays shifting my assets between these wallets, as it was super simple. M2 has included a dedicated button in the wallet interface and is done without fees.
MMX Token
The MMX token is a native governance token of the M2 exchange. It works as a utility token for the platform. You can benefit from it by staking it for rewards, trading perks, discounts on fees, and participation in M2’s governance, making it an exciting prospect.
The token will have a total supply of 500 million tokens.
Customer support
Like every other exchange in the market, M2 offers a live chat feature on its website. However, I didn’t find it as effective as I would expect it to be.
It’s an automated bot that can sometimes not answer your questions. For example, I tried to figure out the fees, and it could not provide me with a list or a straight answer.
Meanwhile, you can also reach out using the email support function. However, as the exchange was just launched, responses could be delayed. Despite all this, my interaction with their team was quick, and my KYC-related queries were answered almost instantly.
Fees and costs
M2 Exchange does not charge any fees for deposits. However, it charges a withdrawal fee of 0.0005 BTC when you withdraw BTC. This is below the global industry average of 0.0006 BTC, making it a better alternative to its competitors.
Here are the trading fees on the M2 exchange:
For Spot Trading:
- Maker fee: 0.14%
- Taker fee: 0.24%
For Futures Trading:
- Maker fee: 0.10%
- Taker fee: 0.10%
Getting Started With M2 Exchange
Follow these steps to get started:
More details
M2 exchange is a fully regulated and FSRA-licensed investment platform to grow your wealth in the digital asset space. You access 30+ digital assets and a crypto earn feature that offers APY up to 11.5%, geared towards everyday traders. Plus, it only charges a 0.0005 BTC withdrawal fee, making it a solid pick.
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Fully regulated exchange.
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30+ supported assets.
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Instant swap feature.
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Crypto earns 11.5% APY.
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Low withdrawal fees.
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A new platform.
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Lack of information on websites.
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Less responsive live chat.
Step 1: Visit the website
To get started with M2 exchange, visit their website. Once there, tap the [Sign Up Now] button in the middle of the landing page.
You can also tap the [Register] button on the top right.
Step 2: Enter the details
After that, you will be taken to a new screen. Tap the [Personal] account on the top left side and fill in the details. When done, tap [Sign Up].
Step 3: Verify phone number
After you’ve completed the registration form, M2 will send a verification OTP to the phone number you provided.
Step 4: Enter your personal information
Next, you will be asked to provide your personal information, including name, nationality, and other details. When done, click [Continue].
Step 5: Provide a residential address
Then, enter your residential address details, including country, address, city, zip code, and a document verifying the address.
When done, click [Continue].
Step 6: Enter your tax information
Next up, enter your tax information, including country of tax residency and tax ID. When done, click [Continue].
Step 7: Enter the employment details
Following that, you will be asked to provide your employment information and source of funds. After entering the details, tap [Continue].
Step 8: Explain your experience with crypto
After that, enter additional details like your experience with virtual assets, annual income, and total net worth. Once done, click [Continue].
Step 9: Scan the passport
Now, you will be asked to scan your passport and upload the image. When done, you will be automatically taken to the next step.
Step 10: Face verification
Finally, you will be asked to verify your identity with a photo. Tap [Start] to complete the process.
When done, wait for the account approval e-mail to start your trading journey!
M2 Exchange review: Drawbacks
While M2 offers all of the basic features, it doesn’t offer much in the way of platform functionality that stands out. Here are a few potential drawbacks:
Lack of features
M2 is entering a market where big players like ByBit or eToro have already established their presence. These platforms already have a large user base and a wide range of services.
To attract users and make their mark in this landscape, M2 must offer compelling features and services like P2P, derivatives trading, launchpad, and crypto cards.
Learning Resources Await
Although M2 Exchange has a few educational resources on its website, it still needs to improve compared to other exchanges like Uphold. It surely needs more guides and how-to’s for its key offerings, like trading, KYC, earn, fees, and staking, to help users maximize its features.
Limited crypto support
Currently, M2 supports 30+ cryptocurrencies, which can be a dealbreaker for advanced investors looking to diversify their portfolios. However, the exchange team has announced adding more tokens and networks.
M2’s Alternatives
Binance
Compared to M2, Binance stands out for its low fees of 0.015 – 0.3% and support for 150+ cryptocurrencies. Plus, it has a P2P exchange that M2 is yet to offer.
More details
Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.
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Biggest exchange in the world.
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Industry's lowest trading fees.
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Advance trading options like leverage trading.
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600+ crypto options, 150+ for the US.
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Lucrative on-site staking options.
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Hiccups in account verification.
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Less regulated than some competitors.
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The corporate structure is not transparently.
Kraken
Although Kraken does not support diverse payment methods, it allows you to trade and invest in 185+ currencies. Plus, the former has the best customer support of all exchanges we have reviewed so far.
More details
Kraken Exchange offers a robust platform for serious crypto traders. It stands out with its diverse coin selection, advanced trading features, and competitive fees. However, its complex interface may prove challenging for beginners. Strong security measures further reinforce its reliability.
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Margin trading and staking.
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Support/chat is one of the best.
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Low trading fees to withdraw Bitcoin (BTC).
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Provides tons of resources for learning.
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Only a few fiat currencies.
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Doesn't accept debit cards or Paypal.
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Has three apps.
KuCoin
With support for 1100 markets and 600 assets, KuCoin excels from M2 in its advanced features like staking, NFT support, and low fees of 0.05%. However, there are better choices for beginners.
More details
Kucoin stands out among other crypto exchanges due to its impressive span of 1100 markets and 600 digital currencies. This, coupled with a user-friendly interface and secure investment environment, has made Kucoin an increasingly popular choice. However, US customers can not use the trading platform.
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Ability to earn interest on crypto.
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Low fees.
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Good customer service.
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Volume discounts on fees.
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Features like margin and futures trading.
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Not licensed in the U.S.
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Lack of investment programs.
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Low trading volume.
M2 Exchange Review: Our Verdict
M2’s stand-out feature is its regulatory compliance with FSRP and interactive interface similar to Coinbase.
The simple and clean trading page suits beginners and advanced traders looking for new growth opportunities to earn rewards on their crypto holdings. Moreover, Its mobile app allows users to trade on the go.
M2 Exchange facilitates spot and futures trading with competitive fees, providing options for different trading preferences.
Furthermore, its crypto earn feature allows users to earn rewards on their assets, enhancing the platform’s value.
M2 exchange is a new exchange and surely lacks some features. However, the team has revealed its plan to add more advanced trading features like derivatives trading, educational resources, and broader crypto support.
Yes, M2 is a legitimate and fully regulated crypto trading platform that has earned an FSRP license for financial services from Abu Dhabi Global Market (ADGM). It aims to deliver the highest levels of trust and ensure transparency in the emerging virtual asset class.
M2 crypto is the native cryptocurrency of M2 Exchange that can be used for discounts on staking, fees, and other features.
M2 Exchange is headquartered in Abu Dhabi, United Arab Emirates. Plus, it has earned a financial services permission license from the local authorities.
Yes, the M2 exchange is among the safest and incredibly stable platforms in the virtual asset sector due to various factors, including regulatory compliance to offer custody services and security measures to protect client virtual assets.
M2 actively supports 30+ popular cryptocurrencies, including Bitcoin, Ethereum, Ripple, Dogecoin, and Solana. As the company expands its operations and remains compliant with rules, it plans to diversify its digital asset support to become a global leader in Web3.
Susan Oh
Susan Oh is a leading figure in the integration of AI and blockchain for social good, serving as the CMO for BeOmni by Beyond Imagination and a civic technologist dedicated to creating scalable solutions. She is a board member of the Blockchain Commission For Sustainable Development supported by the UN GA Office of Partnerships, and a member of the Global Sustainability Network, a joint initiative by the Vatican and the Church of England to combat human trafficking. Recognized with the...
