AAAFx: broker from Greece. Its offers and disadvantages
AAAFx is not a very popular forex broker. It is really difficult to find it in the list of forex brokers 2021, but there are reviews from traders who risked working with the firm. The comments cause vague impressions. That is why we will examine every fact.
Main information about AAAFx
What AAAFx offers
The dealing center attracts clients by its EU license, which proves that the company’s trading services are legal on the territory of Europe and the CIS. Traders can make use of the welcome bonus, an Islamic account as well as live and demo accounts. The broker’s support service is available 24/5 via phone, chat, and e-mail. The main advantage of the broker is direct access to ZuluTrade.
Minimum deposit: $300
Leverage: 1:100 to 1:500
Maximum number of orders: 1,000
Maximum lots per order: 100
What customers should know before start trading with broker
The AAAFx broker offers narrow spreads, but it is offset by high commissions. Traders have to pay $2.5 for every transaction and $25 for money withdrawal regardless of the payment method. If you prefer a small trade size and do not often enter the market, it is better to search for another broker.
AAAFx will neither suit newbies. The company does not provide its clients with educational programs. What is more, the available glossary is poor and complicated.
To register with the company, traders have to present a lot of documents and extracts . This confuses even experienced traders.
The AAAFx broker is not popular among traders from the CIS. It could be rarely seen in the list of forex brokers. Some company’s clients emphasize a good order execution, rare slippages and requotes, and reasonable conditions of funds withdrawal. At the same time, other traders suppose that AAAFx is a company that pulls money from its clients. Some of them directly say that AAAFx is a scammer.
Traders also emphasize that when they lose money, the broker works properly. However, when they start earning money, they face a lot of obstacles. The better part of complaints is about unreasonable closure of profitable orders and ignoring of stop-loss orders. Traders explain that it is almost impossible to prove that they have lost money because of the broker’s actions. Such complaints are widely ignored. What is more, funds withdrawal takes a lot of time.
As a result, AAAFx has made an impression of a mediocre dealing center. Novice traders should take into account that this forex broker does not offer educational programs and the verification process is really complicated. Access to ZuluTrade and narrow spreads are among the main advantages. However, a high commission, especially on funds withdrawal, overshadows all the bonuses. What is more, the broker cannot compete with its rivals in terms of a number of positions. Complaints about the closure of profitable orders and difficulties in withdrawing funds also cause concerns.
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