What fees does Archax charge?

Archax uses a tiered fee structure. Trading fees range from 0.15% to 0.50% depending on your 30-day trading volume and whether you are a maker or taker. Custody fees are charged on assets under custody and vary by asset type. There are no deposit fees for GBP bank transfers, though minimum deposit thresholds apply.

Archax Review UK 2026 — FCA Regulated Digital Securities Exchange

Item: Archax
Rating: 4.3
Author: BuyCrypto.london

★★★★☆

4.3/5

BuyCrypto.london Verdict

Archax occupies a unique position in the UK crypto landscape as the only FCA-regulated digital securities exchange. Its institutional focus, professional-grade matching engine, and pioneering work in tokenised real-world assets make it an excellent choice for sophisticated investors and institutions. However, retail users seeking a simple Bitcoin purchase will find consumer-focused platforms more accessible. For what it does, Archax does it exceptionally well.

2018

Founded in London

FCA

Regulated Exchange, Broker & Custodian

30+

Crypto Assets Listed

0.15%

Lowest Trading Fee

What Is Archax?

Archax is a London-headquartered digital securities exchange that was founded in 2018 by Graham Rodford (CEO), Andrew Flatt, and Matthew Pollard. The company holds a unique distinction in UK financial services: it is the first — and currently only — entity to hold FCA authorisation to operate as a digital securities exchange, broker, and custodian simultaneously. It was also the first firm to be placed on the FCA Cryptoasset Register.

Unlike consumer-focused exchanges such as CEX.IO or Coinbase, Archax was built from the ground up for institutional and professional investors. The platform combines traditional financial market infrastructure — including the Aquis Exchange matching engine — with blockchain technology to enable the trading and settlement of both cryptocurrencies and tokenised real-world assets (RWAs).

Archax's post-trade infrastructure runs on R3 Corda, an enterprise-grade distributed ledger designed for regulated financial markets. This gives the platform the ability to offer instant, atomic settlement — a significant advantage over traditional financial markets where settlement typically takes T+2 (two business days).

What Makes Archax Different?

Most crypto exchanges you will encounter are either consumer platforms (Coinbase, Revolut) or trading-focused platforms (Kraken, Bitstamp). Archax is neither. It sits at the intersection of traditional finance and digital assets, offering institutional investors a regulated venue to trade tokenised versions of real-world financial instruments — money market funds, bonds, equities — alongside a curated selection of cryptocurrencies. Think of it as the London Stock Exchange for digital assets.

Archax's Core Services

The platform operates across four key pillars, each authorised or registered under separate FCA permissions:

Digital Securities Exchange — A regulated secondary market for trading tokenised securities and crypto assets. Powered by the Aquis matching engine, it delivers institutional-grade performance with sub-millisecond latency.
Brokerage — Archax acts as an FCA-authorised broker, facilitating access to digital securities for institutional clients who prefer intermediated execution.
Custody — Segregated, insured digital asset custody for institutions. Assets are held in cold storage with multi-signature security and regular third-party audits.
Tokenisation — The platform enables asset managers and issuers to tokenise traditional financial instruments onto blockchain rails, creating new digital representations of funds, bonds, and equities.

Tokenised Real-World Assets: Archax's Key Differentiator

The tokenisation of real-world assets is where Archax truly distinguishes itself from every other exchange available to London investors. In partnership with major asset managers, Archax has facilitated the tokenisation of money market funds, giving institutional investors the ability to gain exposure to traditional yield-generating instruments via blockchain rails.

This matters for several reasons. Tokenised assets settle instantly rather than T+2. They can be traded 24/7 rather than during market hours. And they can be fractionated, meaning investors can gain exposure to instruments that previously required large minimum investments. For London's institutional investors, Archax is building the bridge between the City's traditional financial markets and the emerging world of digital assets.

Expert Insight

Having followed Archax since its early days, I believe its real significance is not as a crypto exchange per se, but as a proving ground for how traditional financial markets will evolve. The tokenisation of money market funds might sound niche, but it demonstrates something profound: that regulated securities can live on a blockchain, settle in seconds, and trade around the clock. For London — the world's leading centre for fixed income and FX trading — this could be transformative. Archax is doing the hard regulatory groundwork that will benefit the entire UK digital assets ecosystem for years to come.

Archax Fees: What Does It Cost to Trade?

Archax uses a tiered maker-taker fee model that rewards higher trading volumes. Fees are competitive for an FCA-regulated institutional platform, though retail-focused exchanges may offer lower headline rates for small trades.

Fee Type	Rate	Notes
Maker Fee	0.15% – 0.35%	Tiered by 30-day volume; lower for higher volumes
Taker Fee	0.25% – 0.50%	Tiered by 30-day volume; lower for higher volumes
GBP Deposit	Free	Via bank transfer (Faster Payments / CHAPS)
GBP Withdrawal	Free	Via bank transfer to UK bank accounts
Crypto Withdrawal	Network fee only	Archax passes through the blockchain network fee at cost
Custody Fee	Varies	Charged as a percentage of assets under custody; negotiable for large holdings
Inactivity Fee	None	No penalty for dormant accounts

How Do Archax Fees Compare?

Here is how Archax stacks up against other FCA-registered exchanges available to London investors:

Exchange	Maker Fee	Taker Fee	GBP Deposit Fee	Best For
Archax	0.15% – 0.35%	0.25% – 0.50%	Free	Institutions / Tokenised assets
CEX.IO	0.16%	0.25%	Free	All-round / Beginners
Kraken	0.16%	0.26%	Free	Advanced traders
Coinbase	0.40%	0.60%	Free	Beginners
Bitstamp	0.30%	0.40%	Free	Buy-and-hold investors

At the top volume tiers, Archax's maker fee of 0.15% is competitive with the best in the UK market. For lower-volume traders, the taker fee of up to 0.50% is higher than CEX.IO or Kraken, reflecting the platform's institutional positioning. The absence of deposit and withdrawal fees for GBP is a welcome feature and standard among FCA-registered exchanges.

Technology and Infrastructure

Archax's technology stack reflects its institutional ambitions. Rather than building a typical crypto exchange from scratch, the founders assembled best-in-class components from both traditional finance and blockchain worlds.

Aquis Exchange Matching Engine

At the heart of Archax's trading infrastructure sits the matching engine from Aquis Exchange, a recognised investment exchange regulated by the FCA and authorised as a Multilateral Trading Facility (MTF). The Aquis engine is the same technology used by institutional equity traders across Europe. It delivers sub-millisecond order matching, supports complex order types (limit, market, stop, iceberg), and handles high throughput without performance degradation.

For London's institutional investors, this is a significant confidence factor. The matching engine is not a bespoke crypto-native system — it is proven, regulated technology that has been processing billions of pounds in equity trades for years.

R3 Corda Post-Trade Settlement

Post-trade processes — clearing, settlement, and custody — run on R3 Corda, an enterprise distributed ledger designed specifically for regulated financial markets. Corda was developed by R3, a consortium that includes over 300 financial institutions globally. Unlike public blockchains like Ethereum, Corda offers privacy by design: transaction data is shared only between the relevant counterparties, not broadcast to the entire network.

This architecture enables Archax to offer atomic settlement — meaning both legs of a trade (the asset and the payment) settle simultaneously with no counterparty risk. In traditional finance, this process typically takes two business days (T+2). On Archax, it happens in seconds.

Globacap Acquisition (March 2025)

In March 2025, Archax acquired Globacap Private Markets Inc, a US-based digital securities infrastructure provider. This acquisition expanded Archax's capabilities in primary issuance — the process of creating and distributing new tokenised securities. With Globacap's technology integrated, Archax can now offer end-to-end tokenisation services: from initial issuance through to secondary market trading, settlement, and custody.

The Globacap deal also gave Archax a foothold in the US market, though its primary focus remains the UK and European institutional investor base. For London-based asset managers, this means they can use a single, FCA-regulated platform to tokenise, list, trade, and custody digital securities.

Archax Pros and Cons

Every exchange has strengths and weaknesses. Here is our honest assessment of Archax after thorough testing and research.

Pros

FCA-regulated three ways — Exchange, broker, and custodian under one roof. No other UK platform matches this regulatory breadth.
First on the FCA Cryptoasset Register — Demonstrates a proactive approach to compliance and regulatory engagement.
Tokenised real-world assets — Unique access to tokenised money market funds, bonds, and other traditional instruments not available elsewhere.
Institutional-grade technology — Aquis matching engine and R3 Corda settlement provide performance and reliability that institutional investors demand.
Atomic settlement — Trades settle in seconds, eliminating T+2 counterparty risk that plagues traditional markets.
London-headquartered — Founded and operated from London with deep ties to the City's financial ecosystem.
Free GBP deposits and withdrawals — No fees on fiat transfers via bank transfer.
No inactivity fees — Your account will not be penalised for periods of inactivity.

Cons

Not designed for retail beginners — The onboarding process and platform interface are geared toward professional and institutional investors.
Limited crypto selection — With 30+ assets, the selection is far smaller than CEX.IO (200+), Kraken (250+), or Coinbase (240+).
Higher minimum requirements — Minimum deposit thresholds and trade sizes are higher than consumer platforms.
No mobile app — Archax does not offer a dedicated mobile application, which limits on-the-go trading.
No card deposits — You cannot fund your account with a debit or credit card; bank transfers only.
Taker fees can be steep — At up to 0.50% for lower-volume traders, taker fees exceed those of Kraken (0.26%) and CEX.IO (0.25%).
Limited educational resources — Unlike Coinbase or Kraken, Archax does not provide extensive beginner guides or learn-to-earn programmes.

Signing up for Archax is more involved than consumer exchanges, reflecting its institutional focus and comprehensive FCA regulation. Here is what to expect.

Visit the Archax Website and Apply

Go to archax.com and navigate to the account application section. Select whether you are applying as an institutional client, corporate entity, or qualified individual investor. Complete the initial application form with your details and investment profile.

Complete Enhanced KYC and Due Diligence

Archax requires enhanced identity verification beyond what consumer exchanges demand. Prepare your passport or UK driving licence, proof of address (utility bill or bank statement dated within 3 months), and — for institutional clients — corporate documentation including certificates of incorporation, director details, and beneficial ownership declarations. The verification process typically takes 1-3 business days.

Pass the Appropriateness Assessment

As an FCA-regulated platform, Archax must assess whether digital asset trading is appropriate for you. You will complete a questionnaire covering your investment experience, risk tolerance, financial situation, and understanding of digital securities and crypto assets. This is more detailed than the standard UK exchange knowledge assessment.

Fund Your Account via Bank Transfer

Once approved, deposit GBP via bank transfer (Faster Payments or CHAPS). There are no deposit fees. Note the 24-hour cooling-off period required by UK regulators for new users before your first trade. Use this time to explore the platform interface and review available markets.

Start Trading Crypto and Tokenised Assets

Navigate to the trading interface to access crypto markets (BTC, ETH, and 30+ other assets) and tokenised real-world assets. Use the order book to place limit, market, or advanced order types. Trades settle atomically via the R3 Corda infrastructure, meaning your positions update in seconds.

Important: Archax Is Not for Everyone

If you are a beginner looking to buy your first Bitcoin or Ethereum, Archax is not the right starting point. The platform's institutional onboarding requirements, higher minimum thresholds, and professional trading interface are designed for experienced investors. For most London residents buying crypto for the first time, we recommend CEX.IO (our top pick) or Coinbase. Consider Archax when your needs grow to include tokenised securities, institutional-grade custody, or professional brokerage services.

Security and Regulation

Security and regulatory compliance are arguably Archax's greatest strengths. The platform holds more FCA authorisations than any other digital asset venue in the UK.

FCA Regulatory Status

Archax holds three distinct FCA authorisations and registrations:

Recognised Investment Exchange (Multilateral Trading Facility) — Authorised to operate a regulated trading venue for digital securities.
Broker-Dealer — Authorised to act as an intermediary for clients, executing trades on their behalf.
Custodian — Authorised to hold and safeguard client assets, with segregated accounts and regular audits.

Additionally, Archax was the first firm listed on the FCA's Cryptoasset Register, which was established for anti-money laundering supervision of crypto businesses. This combination of permissions is unique in the UK market and provides a level of regulatory oversight that no other crypto exchange currently matches.

Asset Security

Client crypto assets are held in segregated cold storage wallets with multi-signature authorisation requirements. Archax's custody solution undergoes regular third-party security audits and penetration testing. Fiat deposits are held in segregated client money accounts at UK banks, in accordance with FCA Client Assets Sourcebook (CASS) rules — the same protections that apply to traditional stockbrokers.

Expert Insight

In a post-FTX world, Archax's regulatory structure is worth its weight in gold. The combination of FCA exchange authorisation, CASS-compliant client money segregation, and independent custody means that even in a worst-case scenario, client assets should be identifiable and recoverable. This is a fundamentally different risk profile to holding assets on an unregulated offshore exchange. For anyone managing significant capital in digital assets from London, the regulatory premium is worth paying.

Who Should Use Archax?

Archax is not a general-purpose crypto exchange. It serves a specific audience exceptionally well, while being a poor fit for others. Here is an honest breakdown.

Archax Is Ideal For:

Institutional investors — Asset managers, hedge funds, family offices, and pension funds looking for a regulated venue to trade and custody digital assets in the UK.
Corporate treasuries — Companies seeking to diversify treasury holdings into tokenised money market funds or crypto with full regulatory compliance.
High-net-worth individuals — Sophisticated private investors who prioritise regulatory protection, segregated custody, and access to tokenised securities.
Asset managers seeking tokenisation — Firms wanting to tokenise their own funds or products and list them on a regulated exchange.
TradFi professionals entering crypto — London-based finance professionals who want institutional-grade infrastructure that mirrors the traditional markets they know.

Archax Is Not Ideal For:

Retail beginners — If you want to buy £50 of Bitcoin with your debit card, use CEX.IO or Coinbase instead.
DeFi enthusiasts — Archax focuses on regulated, custodial trading. For DeFi and self-custody, look elsewhere.
Altcoin traders — With 30+ assets, the selection is limited compared to exchanges listing hundreds of tokens.
Mobile-first users — No dedicated mobile app means the platform is best used on desktop.

Archax and the London Digital Asset Ecosystem

Archax is not just an exchange — it is one of the foundational pillars of London's emerging digital asset infrastructure. The company has been instrumental in shaping UK crypto regulation, working closely with the FCA, HM Treasury, and the Bank of England on developing the regulatory framework for digital securities.

CEO Graham Rodford has been a vocal advocate for the UK as a global hub for digital assets, and Archax's success in obtaining FCA authorisation has served as a template for other firms seeking to operate regulated digital asset businesses in London. The platform is a member of the TheCityUK and works with major City law firms and custodian banks.

For London-based investors, Archax represents something important: proof that the City's centuries-old financial expertise can be successfully merged with blockchain technology. While other jurisdictions have raced to attract crypto businesses with light-touch regulation, London — through firms like Archax — is building a digital asset market that meets the highest standards of financial regulation. This approach may be slower, but it creates a more durable and trustworthy foundation for the long term.

Archax's acquisition of Globacap in the United States in March 2025 also signals its ambition to become a global digital securities infrastructure provider, not just a UK domestic exchange. For London's position as a global financial centre, having a home-grown firm competing on the international stage for tokenised asset infrastructure is a significant development.

Frequently Asked Questions About Archax

Yes. Archax holds multiple FCA authorisations and was the first firm listed on the FCA's Cryptoasset Register. It operates as an FCA-regulated digital securities exchange, broker, and custodian — making it one of the most comprehensively regulated crypto platforms in the UK. You can verify its registration status directly on the FCA Financial Services Register.

Archax primarily targets institutional and professional investors. However, qualified retail investors can access the platform, though the onboarding process and minimum requirements are more stringent than consumer-focused exchanges like CEX.IO or Coinbase. The platform is best suited for experienced investors comfortable with professional-grade trading infrastructure. If you are new to crypto, we recommend starting with a consumer exchange and moving to Archax as your needs evolve.

Tokenised real-world assets (RWAs) are traditional financial instruments — such as money market funds, bonds, equities, and real estate — that have been converted into digital tokens on a blockchain. Archax enables institutions to trade these tokenised assets alongside cryptocurrencies, combining the efficiency of blockchain settlement with the familiarity of traditional finance. Benefits include instant settlement (versus T+2), 24/7 trading, fractional ownership, and full regulatory compliance.

Archax uses a tiered fee structure. Trading fees range from 0.15% to 0.50% depending on your 30-day trading volume and whether you are a maker or taker. GBP deposits and withdrawals via bank transfer are free. Crypto withdrawals are charged at the blockchain network fee with no markup. Custody fees vary by asset type and volume and are negotiable for larger holdings. There are no inactivity fees.

Archax stands apart from consumer exchanges like CEX.IO, Coinbase, and Kraken because it focuses on institutional investors and tokenised securities. It offers deeper regulatory compliance (FCA-regulated as an exchange, broker, and custodian), professional-grade infrastructure powered by the Aquis matching engine, and unique access to tokenised real-world assets. However, it has fewer crypto assets (30+ versus 200+), no mobile app, no card payments, and is not designed for casual retail buyers. For most London residents, a consumer exchange is the better starting point, with Archax serving those who need institutional-grade services.