AAFX Trading Broker Review
Regulated by: FSA
Headquarters: Saint Vincent and the Grenadines
Ranking: 15
Spread: 0.3 pips (EURUSD)
Leverage: 2000:1
Minimum Deposit: $100
AAFX Trading Review & Author's Comment
Is AAFX Trading reliable? AAFX Trading spreads, AAFX Trading regulation, AAFX Trading account types. I am going to clarify all those topics in this AAFX Trading review.Keep reading to find the answers. AAFX Trading is one of the few forex brokers that accepts clients from the USA. After 2008 Great Financial Crisis, US regulators (such as SEC, CFTC) tightened the regulations for finance and investment firms. These new stricter rules deter forex firms to hold operations in the US. The leverage is lower compared to other jurisdictions and required capital to operate in the US is much higher compared to its peers. Thus we don’t see a lot of forex brokers based in the USD.
However, the market is still there. Investors from the US are looking for higher leverage, tighter spreads, free bonuses etc. On the other hand, only few off-shore forex brokers are willing to open forex trading accounts for US citizens due to the fear of being fined by the US watchdogs. AAFX is among those rare forex brokers. It is headquartered in Saint Vincent and the Grenadines and regulated by FSA SVG.
The company is founded in 2013, so passes one of my criteria of being a reliable forex broker. Negative balance protection feature should be noted as well. Not too many forex firms provide this feature. Those of you who have been trading since 2015 (SNB’s abrupt EURCHF 1.20 removal) would know the worth of Negative Balance Protection. Spreads are tight and they offer a lot of options in terms of deposit / withdrawing funds.
Is AAFX Trading reliable?
Even though, AAFX Trading was established in 2013, the Company has a strong reputation in the industry. I should say that SVG FSA is not among my favorite financial regulators however, AAFX Trading gets a high rating from me in terms of reliability due to its pro-client approach such as extensive and quality customer services, segregated customer accounts and social responsbility contributions. AAFX Trading is an active financial supporter to the projects of international charitable organizations such as Red Cross and UNICEF.
AAFX Trading Account Types
AAFX Trading provides two different forex trading account types for its clients. The first one is Fixed Account. As you can guess from the name, the spreads on instruments don’t change depending on the time of the day or volatility. Spreads are fixed and 2 pips for majors. Traders can choose between USD, GBP and EUR for their account currency. Maximum leverage is 1:2000 for accounts up to $20000 and 1:1000 for account bigger than $20000. AAFX Trading doesnt charge any commission on the top of spreads for executed trades. Traders are allowed to use Expert Advisors (EA) on this account type and minimum deposit is $100.
The second account type is ECN Account. ECN Account has exact same specifications with Fixed Account other than spreads. Spreads could go as low as 0.3 pips on ECN Account compared and the spreads are variable.
AAFX Trading Customer Support
AAFX Trading offers customer support in many languages including Arabic, Chinese, Czech, Croatian, Danish, Dutch, English, French, German, Greek, Indonesian, Indian, Italian, Irish, Japanese, Korean, Malay, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Swedish, Thai, Turkish, Ukrainian, Urdu and Vietnamese. There is Live Chat feature on the web site where you can get accurate and quick answers to your inquiries. Another important point about AAFX Trading is that the Company is one of the rare off-shore forex brokers that accept clients from the US as I mentioned at the introduction of the review.
AAFX Trading Platforms
MetaTrader 4 is the trading platform that AAFX Trading offers to its clients. In addition to PC desktop version, MetaTrader 4 for MAC, MetaTrader Web and MetaTrader Mobile are also provided by request. MetaTrader 4 is the most commonly used trading platform that comes with a huge bag of trading, charting and monitoring features such as Expert Advisors, Technical Indicators and 9 different timeframes. AAFX Trading doesnt only provides the trading platform but also offers informative tutorials for the novice traders who have not used MetaTrader 4 before.
AAFX Trading Withdrawal and Deposit Methods
AAFX Trading clients can use eight different methods for depositing and withdrawaing money. These methods are Wire Transfer, Debit Card, Credit Card, Web Money, Skrill, Neteller, Fasapay, Bitcoin. I should point out that there are not too many forex brokers that offer Bitcoin as deposit and withdrawal method. Even though, international wire transfer and credit card are my two favorites for financial transactions with forex brokers, having Bitcoin as an option is a big plus.
AAFX Trading Instruments
AAFX Tradinng offers company stocks, commodities, equity indices, precious metals, oil and cryptocurrencies in addition to forex pairs as trading instruments. Only cryptocurrency offered by AAFX Trading is Bitcoin and traders can trade it with a leverage of 10:1. AAFX Trading does not charge any commission and / or fee on Bitcoin orders. On the other hand, Gold, Silver, Corn, Wheat, Coffe, Sugar, Soybean, Cotton, Natural Gas, Rice, Copper, Palladium, Platinum and Cocoa are the commodities that are offerred by AAFX Trading.
AAFX Trading Bonus and Promotions
- 35% Welcome Bonus – The new traders who deposit a minimum of amount of 500 EUR/USD get the 35% tradable bonus.
- 30% Redeposit Bonus – Existing clients will be able to enjoy this special 30% bonus on top the amount they deposited.
- AAFX rewards either existing or new clients the opportunity to get a free smartphone conditional on the amount deposited and lots traded.
Does AAFX Trading Accept US Clients?
Yes, AAFX Trading accepts clients from the US.
AAFX Trading Final Word
AAFX Trading is an off-shore forex broker and as you alread know I am usually very cautious versus off-shore forex brokers. They don’t rank high in terms of reliability. However, AAFX Trading becomes an outlier, getting a high rating in reliability department as a result of its pro-client approach such as segregated accounts, swift and quality customer services and generous bonus and promotions. Additionally, AAFX Trading could be an option for US residents who are in search of higher leverage. The Broker is one of the rare forex brokers that accept clients from the US.
| Broker Detail | |
|---|---|
| Adress: | Suite 305, Griffith Corporate Centre, Beachmont, Box 1510 Kingstown, St. Vincent and the Grenadines |
| Phone: | +19142335216 |
| Web: | |
| E-Mail: | [email protected] |
| Regulator: | FSA |
| Year Founded: | 2013 |
| Instruments | |
|---|---|
| Forex: | |
| Precious Metals: | |
| Energy: | |
| Soft Commodities: | |
| Indices: | |
| CFDs: | |
| Stocks: | |
| ETFs: | |
| Bonds: | |
| Options: | |
| Cryptocurrencies: | Bitcoin |
| Account Options | |
|---|---|
| ECN Account: | |
| Swap-Free Account: | |
| Nano Account: | |
| MAM / PAMM Account: | |
| Demo Account: | |
| Funding Methods: | Wire Transfer, Debit Card, Credit Card, Web Money, Skrill, Neteller, Fasapay, Bitcoin |
| Withdrawal Methods: | Wire Transfer, Debit Card, Credit Card, Web Money, Skrill, Neteller, Fasapay, Bitcoin |
| Customer Services | |
|---|---|
| Live Chat: | |
| 24 Hours Support: | |
| Languages: | Arabic, Chinese, Czech, Croatian, Danish, Dutch, English, French, German, Greek, Indonesian, Indian, Italian, Irish, Japanese, Korean, Malay, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Swedish, Thai, Turkish, Ukrainian, Urdu, Vietnamese |
| Trading | |
|---|---|
| Leverage: | 2000:1 |
| Spreads: | As low as 0.3 pips for EURUSD on ECN account |
| Minimum Deposit: | $100 |
| Fixed Spreads: | |
| Automated Trading: | |
| Hedging: | |
| API Trading: | |
| Negative Balance Protection: | |
| Accepts Clients from the US: |
| Bonus |
|---|
1) 35% Welcome Bonus - The new traders who deposit a minimum of amount of 500 EUR/USD get the 35% tradable bonus. |
2) 30% Redeposit Bonus - Existing clients will be able to enjoy this special 30% bonus on top the amount they deposited. |
3) AAFX rewards either existing or new clients the opportunity to get a free smartphone conditional on the amount deposited and lots traded. |
| Platforms | |
|---|---|
| Supported Platforms: | MetaTrader 4 |
| Webtrader: | |
| Mobile: | IOS, Android |
AA Trading Review
AAFX Trading Review
- Reliability - 7/107/10
- Deposit & Withdrawal - 8/108/10
- Bonus - 7/107/10
- Customer Support - 8/108/10
- Overall Trading Conditions - 8.5/108.5/10
Summary
Customer support in many languages. Wide range of trading instruments. High leverage. Accepts clients from the US.
Hi can any please help explain why this broker charges an absurd amount that they say its due exchange rate difference. my friend was trying to deposit £400 and this broker tried to take £421 plus some pennies from his account. Fortunate the transaction was declined by the bank. For me this was a red flag.
Banks may charge an extra amount in the form of currency conversion fee. it varies between 3 to 5 percent. so that extra 21 pound is probably due to the conversion fee charged by your bank.
When I started working at aafx I didn’t have a very good attitude, I thought it was another pseudo broker, but it turned out that everything was fine, so I calculated that I have been trading here for over three years, so don’t despair, whoever is looking will always find it.
I trade with AAFX for 3 years, since 2016. It was not my first brokerage, so I have many things to compare with.
AAFX is really good cause of some points, I will explain in details:
1. Minimum deposit $100 is extremely low, easy to test brokerage. I started with 100 dollars to test broker.
2. Demo account available, it’s free
3. Bonus 35% for first deposit and re-deposit bonuses available.
For me, that brokerage is the best I traded for this combination of benefits. Trading process is also well-organized, with no slippages or lags with MT4 trading platform. Withdrawals are also fast, I never waited too long.
AAFX was my third broker, but the only one that provides absolute freedom. I haven’t faced any restrictions, any unfair rules or something like this. I appreciate such approach, there is only trading and nothing more. My previous brokers have so much restrictions and you should learn them all, I like when everything is going easy and clear.
The broker is an important factor in the Forex market. Therefore, I very carefully choose AAFX. This is an online Forex trading and CFD brokers, offering clients a variety of ways to trade, the most competitive trading conditions and the best trading experience in financial markets. His asset management division also offers a portfolio management solution that allows access to an investment product at the institutional level.
Every financial market is uncertain and totally variable. Because the currency rate is changing according to the market situation. Successful market forecasting is only possible through adequate market analysis. That I am receiving from AAFX. They are the best in fundamental and technical analysis. Based on both analyses, they are offering their trader real-time market streaming with necessary charts and quotes that help the client make the correct trading decisions.
My name is Michael Beaton and I have been using AAFX Trading for approximately 5 or 6 months. I have read all of the other reviews and yes there are a lot of good reviews about this company but is it impossible that there is a good FX brokerage company out there and that they might receive good attention. I can’t speak for anyone else by myself but my experience with AAFX has been great. I have tried many different brokers just to see what differences there were in each one. AAFX was the first company I traded FX with so I tested the waters. I will not mention any other company because of the fact their services were not nearly as good.
AAFX might not have the largest bonuses or the most spectacular challenges such as other brokers but in my opinion that makes them more genuine. They offer 2 very generous bonuses in my opinion. The welcome bonus of 30% for new comers, 25% re-deposit bonus, and they also have a nice referal bonus but the referal must be a wire transfer, cannot be deposited with a CC.
So there bonuses might not be as big as the 400% bonuses others brag about… which isn’t all it is said to be. However the quality of service and the professionalism that AAFX offers makes them truly better than any other broker company I have used and I tested about 9 for 2 weeks. Some of them took upwards of 5-6 days to answer a couple of simple questions. Others took 3 days to make a deposit.
If there are any traders out there like me and I hope I am not alone then having your deposit placed quickly is important. That is one important quality to me and AAFX both deposits and allows for withdrawals as quickly as possible. When I said other brokers have taken 2-3 days to make a deposit I wasn’t lieing. Aside from that their online support is fantastic. Professional and friendly. I just got to get them to stop calling me sir all of the time. :). But in all honesty this company is not a scam they deliver quality services to their clients and even upgraded their site to encompass many new features in their clients dashboard.
Also to go back to the margin call the first review mentioned. I believe what he is expressing is that AAFX might have used a virtual plugin for mt4. I again have traded with them for 5 or 6 months and never had an issue at all with it. Signs of a virtual plugin would be yes:
1. yes margin changes.
2. Leverage change
those two go hand in hand a not so ethical broker will decrease leverage forcing their client into a margin call and clear out their biggest positions. They do this when they are investing or betting against their clients. I have never once seen an issue ever with this.
3. Slowed quotes. Now there are certain times my mt4 bogs down I will admit but it is the same times every single day. Typically during market crossovers. I am in CA -7 GMT. between 5 am and 8 am my time it gets a bit slow at times, also later in the morning around 10 am to 12 am it can be sluggish. However it is like clockwork when those slow times come. It isn’t a surprise when it happens.
Those are the most common abuses of the mt4 virtual plugin and i have not experienced any of them with AAFX. To go back to the first review If anyone has traded on Sunday or researched good trading days, Sunday is by far the worse day to trade.
it is:
The least liquid
When the market first opens it is very easy to get whipsawed due to all of the events over the weekend and a mass of fear/greed orders being placed immediately.
Also going back to my time zone of -7gmt from 12:30 PM to about 3 PM there is almost no movement. its the slowest part of the day. It is very easy to place a trade and then have it not move for 5 – 10 minutes then all of the sudden it makes one huge change which could be 5-10 pips.
Anyways I have had such an awesome experience with aafxtrading.com that I wanted to voice my opinion. I am one who believes that if someone has a bad experience they will tell 10 out of 10 people but if they have a good one they might tell 2. Well I had and still am having a great experience and if anyone is serious about forex trading I recommend trying AAFX out.
You can read testimonials and reviews but the only way to know first hand if they are good or bad is to test them out. minimum deposit $100, minimum for the welcome bonus of 30% is $1,000. very quick deposit, very easy setup, can upload verification docs right on their site (this was just implemented in the new dashboard) so if you like forex and have $100 to throw at the market and are looking for a good broker then I suggest trying aafxtrading.com
Also one last note:
They are also one of very few FX brokers that offers 2000 leverage and a no negative balance policy which is great because i got a little eager one day with usd/mxn and piled on 180 standard lots only to have a huge market reversal which actually put my accoutn -$5500 usd. I didn’t have to pay anything out of pocket. That was the biggest thing that initially sold me when I was looking for a broker
This broker surely could be on the top of the best brokers list. I have been trading with this broker for last 3 years. It has very good execution system where I can trade without any major execution problems like slippage, re-quotes etc. I get 1 pip spread rate on major pairs and 2000:1 leverage on their fixed account. It also transact my money within one day with minimum fee.
I’m looking for some brokers with ECN account and low spread.
You have all I need. Do you have commission on top of spreads?
No. AAFX doesnt charge commission on any type of account.