AAFX Trading review
About the company:
AAFX Trading provides services of trading currency pairs and various types of CFDs on the tried and true MetaTrader 4 platform.
About the company. Security of funds
We have found no information about the history of the company on its website. According to other websites, the company was founded in 2004 and it has been working online since 2012.
AAFX Trading Company Ltd. owns and supervises the AAFX Trading brand. This company operates under the jurisdiction of Saint Vincent and the Grenadines. Besides, the broker has introducing offices in Australia and Hong Kong. AAFX TRADING COMPANY LIMITED is regulated by the FSA.
The international business companies that are registered in Saint Vincent and the Grenadines provide financial services in accordance with the local laws that are considered to be one of the most liberal and loyal. The registration procedure is as simple as possible. The country’s regulative authority has a rather mild approach and exercises minimal supervision.
So, you’d better think twice before investing money in this broker’s account. The companies registered in the EU or Australia, for example, are obliged to comply with stricter rules. Therefore, they can ensure higher security of your funds.
AAFX Trading offers 2 account types: the one allowing fixed spreads and ECN. This broker does not charge commissions on the ECN accounts unlike many other brokers.
Trading micro lots is available on both account types.
Additionally, the broker provides the so-called Islamic accounts with no swaps.
The minimum deposit at AAFX Trading is $100.
Spreads and commissions
AAFX Trading offers competitive trading conditions. Thus, the fixed spread on EUR/USD is just 2 pips. At the same time, on the ECN accounts spreads start from 0.5 pip which is a really small amount. What is more, no commissions are charged.
The maximum available leverage is 1:2,000. It is a rather high value. On the one hand, traders can earn fast, but on the other hand, they can lose equally fast. So, traders should be cautious when using leverage.
AAFX Trading provides the well-known MetaTrader 4 platform. Both the desktop and mobile versions of this software are available.
Millions of traders all over the world prefer using the MT4. This platform supports popular indicators for technical analysis. Moreover, it enables users to create their own expert advisors or apply built-in robots. Previously, the broker also offered its clients the Vertex trading platform but then stopped using it.
AAFX Trading provides a welcome bonus of 35% to those who deposit at least 500 euros or dollars. Besides, there is an opportunity to receive a bonus in advance. For more information, potential clients should contact the company’s support managers.
AAFX Trading provides Islamic accounts. The broker states that its swap-free accounts differ from the similar offers of other brokers, as AAFX Trading does not charge any additional fees for trading on such accounts and does not increase spreads.
Customer Support Service
Clients of AAFX Trading can contact the support service by phone, via a live chat, or they can request a call back. Besides, the broker has profiles on Twitter, Facebook, and LinkedIn.
The broker’s website is available in 30 languages. However, it seems that translation of the website is done via a web extension of a search engine.
Clients of AAFX Trading can make a deposit to trading accounts in several ways: through a bank wire transfer, bank cards, or by electronic payment systems such as Neteller, Skrill, Paynow, PerfectMoney, and Fasapay.
Withdrawal of funds is processed within 3 working days while bank wire transfers can take a bit longer.
There are various comments about the broker on the Web. Interestingly, the number of appraisals and rebukes is nearly equal. In most cases, clients get disturbed by unavailability of a client area or delays in withdrawal of funds.
In our opinion, the biggest drawback of this broker is its offshore registration. Here are the pros and cons of AAFX Trading:
AAFX Trading 1/10 (votes 2240)