Forex trading and online investing have greatly changed in the last few years. The markets are more accessible than ever to the retail side, which brings a lot of opportunities for all the parties involved. However, you must be careful while choosing a broker for your needs, or else it will drain you emotionally and financially. AAFX Trading is a Forex and CFD broker that is regulated in St. Vincent and Grenadines.
Technically speaking, due to the local restrictions present, for the most part, they can be considered unregulated, which also implies that the funds deposited with them aren’t secure enough compared to their regulated counterparts.
They have a lot of positive feedback on the web, and they seem to have maintained a healthy relationship on most forums. Nonetheless, there are more things individuals need to know about them before proceeding with them. So, read the following information, and after analyzing all the information, make a wise choice.
AAFX Trading Legal Status
AAFX Trading claims to be a regulated broker, and in some sense, they are, but as we mentioned above, due to the place they are registered in, their credibility is not up to par. They are registered in St. Vincent and Grenadines with registration number 22916 IBC. In other words, the law only safeguards the residents’ rights, and as far as offshore clients are concerned, it doesn’t provide them any safety.
In addition to the registration in St. Vincent and Grenadines, this firm has also acquired licenses to operate in Hong Kong and Singapore. The lack of regulation from reputable authorities means they won’t be forced to adhere to certain favorable standards on the retail side.
For starters, they won’t have any compensation scheme, and though they claim to have segregated accounts, there is no way to verify the claims. Given the risks involved, it is not advisable to move forward with an unregulated broker in any way. Remember, there are tons of regulated brokers who allow the clients to tackle the markets with as low as $100. So, reevaluate your decision and move forward cautiously.
Customer Support
This broker seems to shine in the customer care aspect. They provide 24/5 assistance, and their team supports over 20 languages. The amount of care they have given to this category is immense, and it clearly shows the professionalism in their approach. If you have any queries, the staff can be reached via email, phone, skype, and live chat.
Our investigation discovered that their live chat feature is extremely streamlined, and the waiting periods are a breeze. Overall, it is surprising to see their breached level regarding customer satisfaction. Additionally, they also have a social media presence, and all of their contact details are gathered below.
Address
- Suite 305, Griffith Corporate Centre, Beachmont, Box 1510 Kingstown, St. Vincent and the Grenadines.
- Two Exchange Square 8 Connaught Place Central, Hong Kong.
- Level 4, 27 – 20 Shelley King Street Sydney NSW 2000, Australia.
Phone
- St Vincent and the Grenadines: +19142335216
- Hong Kong: +85281981079
- Australia: +61280035080
AAFX Trading Platforms and Conditions
AAFX Trading supports MetaTrader 4 and 5, a dedicated mobile app, and web trader support. In simple words, regardless of the device you are using, they have something you can work with, provided you have internet access. Anyone familiar with the trading sector and with reasonable experience will never face any problems and find themselves at home with the default applications.
Clients are free to use any kind of strategy they want, and they can even employ Expert Advisers. With thousands of free indicators available for MT4/5, experienced traders will surely have no issues when it comes to manipulating the platform to suit their needs. This broker offers numerous trading instruments, including forex, commodities, stocks, indices, etc. If you are particularly after stock trading, you need to download the MT5 for a better experience.
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All of the instructions regarding the downloading process and setups are provided on the platform itself. Moving on to leverage, this brokerage offers up to 1:2000, which is absolutely huge. Experienced traders might like this, but we think newbies should stay away from it because the amount of damage it can inflict is immense and should never be taken lightly.
There are a few restrictions before enabling that kind of leverage, and as they are subject to change at times, contacting the support team will give you the best relevant information.
Account Types
There are 3 types of accounts offered by this platform. Before proceeding with any account type, consider your objectives carefully and choose the one that makes the utmost sense. The difference between fixed and ECN accounts is very thin, and unless you are a scalper, it doesn’t really matter which one you go for.
On the other hand, if your trading objectives are very precise and you need all the bells and whistles the broker offers, then you need to upgrade to a VIP account. $100 is the minimum balance for a fixed and ECN account; the minimum balance required for a VIP is $20,000.
The leverage doesn’t change regardless of the account type you choose, and based on your strategy, you can opt for any figure you want or are comfortable with. Lastly, do know that they also offer Islamic-friendly accounts.
AAFX Trading Partnership Program
AAFX Trading brings a lot of interesting propositions for affiliates and marketers. Anyone who is interested in working with them can either promote them or use the white-label platform to make the most out of their traffic. The exact commission rate per client is unknown, but we strongly believe it is based on the trading volume each affiliate generates.
Before getting the opportunity to work with them, there may be a few prerequisites and processes involved, but as they are not disclosed publicly, you have to contact them to know the requirements. They also provide a wide array of promotional tools to all their affiliates. Overall, the policies are just and don’t show any questionable practices or conflicts of interest.
Education
We found a lot of tutorials and newbie-friendly content on this platform. On top of the basic educational series, they also do a program informing people about the latest incidents and events that might affect the market.
The good thing about the educational series is that it is offered to everyone, and clients do not have to make a deposit to unlock the content necessarily. If you are a bit old school, you can head to their ebook section and find content on the most relevant topics. In short, they have done more than most regulated brokers to educate their clients and help them gain consistency.
Funding and Payment
When it comes to deposits and withdrawals, AAFX Trading offers a lot of choices to clients. They support the most popular e-wallets, such as Skrill, Neteller, Perfect Money, etc., along with Bitcoin, credit or debit cards, and wire transfers. For most e-wallets the transaction fees are covered by them. Thanks to their zero fees policy, if you deposit a larger sum, usually in the neighborhood of $10,000, you will be exempt from any fees whatsoever.
On the flip side, be careful before accepting the welcome bonus they provide. The conditions associated are pretty clear. However, using history as a guide, we encourage people never to accept them as they have the potential to cause havoc during certain times. The withdrawal processing time is unknown, and we didn’t find any information related to it anywhere on their platform.
Verdict
AAFX Trading appears to be a good broker from most aspects, but due to their regulation, it is better to avoid them or at least remain cautious while dealing with them. The client feedback on sites like Trustpilot has been positive. However, there are a few deadly accusations of unethical practices as well.
Our best advice for you is to take on the markets with a regulated broker, and given the number of alternatives present, it shouldn’t be a problem. If you have lost money to this brokerage and cannot recover it, contact our team for a free consultation. We will gladly give you personalized steps to get your money back from them.
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I don’t know why people tend to think like that. When you look at AAFX and their reviews, you don’t see any red flags. when you check the brokers website and the platform, you don’t see any red flags. They have no problems with the legitimacy, no problems with compliance to the existing regulatory framework, there are no problems in trading or customer support, and no problems with their reputation.
apart from that, when you actually read their reviews, a lot of people are satisfied and happy trading there, and they don’t claim there to be any problems whatsoever.
that’s how you need to approach these kind of situations, when there is no smoke, there is most likely no fire at all.
For me, safety of this broker is provided by the licenses it has, and by trading conditions.
Bad brokers would never puzzle over delivering such a versatile infrastructure for their customers simply because they have one aim – to cheat on them. They’d better place a banner “C’MON, DEPOSIT RIGHT NOW TO NOWHERE” on the main page, without any description of trading conditions.
AAFX Trading provides a detailed description of each function it offers, it has famous software for trading and very convenient environment. It’s safe and sound out there.
AAFX Trading has certainly created a notable presence in the Forex and CFD trading industry. The aspects in which they shine include their commitment to customer support, a wide range of trading platforms including MetaTrader 4 and 5, diverse account options, and extensive educational content for traders. These factors, combined with the mostly positive feedback they’ve received online, can speak to their professionalism and dedication to providing a quality service.
However, a crucial consideration for any potential trader is the regulatory environment surrounding a broker. AAFX Trading’s primary regulation in St. Vincent and Grenadines does raise some concerns. While they are technically regulated, the regulatory framework in St. Vincent and Grenadines does not offer the same level of protection to traders as other jurisdictions, making them, in essence, unregulated for international clients.
The fact that they don’t adhere to some of the industry standards set by more stringent regulators might be a red flag for those who prioritize fund security. Without robust regulations in place, traders don’t have the guarantee of a compensation scheme or the assurance of segregated accounts, which are common with brokers regulated in jurisdictions like the UK or Australia.
Moreover, while high leverage options might be enticing for experienced traders, they pose significant risks, especially for those who are new to the world of Forex trading. It’s essential for traders to fully understand these risks and employ risk management strategies.
In conclusion, while AAFX Trading presents a number of commendable features and has garnered positive feedback, the regulatory concerns should not be overlooked. It’s always advisable to proceed with caution, and, if possible, prioritize brokers that are regulated in jurisdictions known for their stringent oversight and client protections.
AAFX is so long on the market so its security and credibility is out of the question. All the brokers that I have worked with and had a substantial brokerage experience were super reliable.
I appreciate this long and thorough review of AAFX Trading. I consider this broker so in the past week I am exploring its trading conditions and its reputation among traders.
I don’t have a significant amount of capital to start trading and I am looking for a broker that would boost me with some bonus. I found out that this broker has interesting bonus offers, but I am interested if somebody can share their experience using their bonuses. Do they deliver what they promise?
Hello Andries Stander,
Thank you for taking the time to read our review and share your thoughts on AAFX Trading. We understand the allure of bonus offers, especially when starting out with a limited capital. Here are a few things to consider in response to your query:
1. Bonus Terms: Always review the terms and conditions attached to any bonus offer. Some brokers attach very strict withdrawal conditions to bonuses, meaning you might need to trade a certain volume before being able to withdraw any funds. Ensure you’re comfortable with these conditions before accepting a bonus.
2. Regulation Concerns: As mentioned in our review, AAFX Trading’s regulation is a point of contention. This doesn’t necessarily mean they’re not trustworthy, but it does mean that there might be fewer safeguards in place for your funds compared to brokers regulated in stricter jurisdictions. This is something you should be particularly cautious about, especially if you’re considering accepting a bonus which may have implications for your ability to withdraw funds.
3. User Experiences: While we’ve given a comprehensive overview, personal experiences can vary. I’d recommend visiting trader forums or communities where you can find firsthand experiences from users who have used AAFX Trading’s bonuses. This will give you a more nuanced understanding of how the bonus system works in practice and any potential pitfalls to watch out for.
4. Stay Informed: Remember, bonuses are enticing but they shouldn’t be the sole factor in choosing a broker. It’s vital to ensure that the broker aligns with your overall trading goals, offers a platform you’re comfortable with, and most importantly, that you trust them with your money.
Lastly, while our review aims to provide a balanced perspective, always do your own due diligence. If you decide to go ahead with AAFX Trading or any other broker, regularly review your decision, especially as you gain more experience and knowledge in the trading world.
Wishing you success in your trading journey!
I suppose the company has proved itself with a decade of experience on the forex market. So it doesn’t make too much sense to discuss whether AAFX is safe.
My interest is if the broker allows scalping and withdrawing profits from scalping on the same day?
Our recommendation would be to reach our to the broker’s support team. If it’s a reputable broker, then they would be happy to provide the answer. And if you can update us, that would be great! Thanks.
the fact that this company entirely describe trading conditions it offers is enticing for me. I mean, from the very first visit of the site, I understand where I’m going to stuck at, you know.
sometimes, brokers conceal information which turns to be a real surprise after you open a real account and enter the platform. but it’s not about this one. you get familirize with the conditions first, and after you sign up, you receive exactly the same conditions.
I like how everything is organised here, feel that this is solid broker!
And sure I can trade well with broker like this.
What pitfalls should I expect if I open a trading account with this company?
Opening a trading account with a not properly regulated company such as AAFX Trading can pose several risks and pitfalls. Unregulated companies may lack protection, have a higher risk of scams, provide poor quality service, lack transparency, and have difficulty resolving disputes. It is important to choose a reputable and regulated company to protect your investments.
Well, I am not sure there are any pitfalls. Just your attention and discipline are really matters for the profitable trading.
I also had a very good experience with AAFX support team. They are always willing to help me whatever the issue is.
I remember I asked them about the charts problems, and as it turned out that it was not exactly their area of responsibility, they patiently and politely helped me to solve the problem.
I reckon regulations and licenses play a decisive role for a trader in case of choosing a broker. AAFX possesses all required set of licenses and certifications that prove its credibility. It’s thoroughly supervised by quite a well-known legal entity.
Regulation of AAFX broker is only one side of credibility. The other side is that it provides the brokerage services for almost a decade. In the financial world the more years you work, the more reliability you gain. Since the world of finances is a highly competitive and volatile place.
The financial crisis showed us that sometimes even the banks with hundreds of years of history can fall victim to the turmoil.
AAFX Trading is a really safe broker with a good reputation. You just need to understand that the company’s range of services is wide and is designed for different capitals. So, if you use a leverage of 1:1000 or 1:2000, it is your area of responsibility and you have to control it yourself and understand whether you need it or not.
They have bonuses of up to 35%, which is really helpful.
For several months I couldn’t choose a good trading platform for currency pairs. It took me a long time to decide where to open an account. One good acquaintance, surprisingly, also trades. He does it in AAFX Trading, and he advised me to open an account here as well. At first I had my doubts, but when he showed me that the broker withdraws money and how he trades, my doubts went away. I opened a personal account, funded my deposit, downloaded the terminal and started trading. At the moment I already had 2 withdrawal requests completed, money received, I am happy, everything is great.
I have been trading stocks with AAFX Trading for 6 months now. I started to work with this company because a very good friend recommended it. In the first month, of course, it was pretty hard to get into the job, but every day I was getting better and better in understanding my goal and how to achieve it. Now I have stable income from the trading stocks. I personally really like the broker because it is very fast withdrawal of funds from the account and the work of highly qualified technical support. The clients’ funds are kept on separate accounts from the broker, which contributes to the safety of trading with the broker. Withdrawal of funds takes place within 24 hours for all payment methods. In conclusion I can wish good luck to all those who want to work for themselves and decided to start doing it together with this broker.
I agree with the author of the article, when a broker is regulated by a regulatory organization, the risk for traders is reduced. This will determine if it is safe to trade with AAFX Trading. AAFX trading is regulated by the Saint Vincent and the Grenadines Financial Services Authority (FSA). This regulator is not as famous around the world as other regulators, but it has all the measures to protect user deposits.
AAFX Trading operates worldwide and is one of the few brokers that accept US clients.
I love the fact that AAFX Trading is a regulated broker and I can trust my money. It so happened that many of my friends traders gave their last savings on deposits. People just need hope for tomorrow and need to know that money will be safe and that it can be increased!
I want to say that the support service works really well. Anytime and quickly .. I had questions about the work of the trading platform. They answered me quickly and in an accessible language, because I was not yet a professional and did not understand everything about the terminology.
Now I start trading stocks more often and therefore I was glad to know that AAFX Trading now supports Metatrader5. I want to admit that this trading platform is very convenient for me.
I started trading with AAfx broker. Everything seems to be good, trading is normal. Support responds promptly and clearly.
They say they give a bonus for the invited friend. Has someone already invited?
Yes, I did 🙂 A very cool system, especially if you have many friends of traders or you are a blogger who left his referral link in the profile header))
I received such a bonus only a couple of times. My friend deposited $ 500 and $ 3000. I know it’s not a lot, but it’s still nice 🙂
I trade on AAFX. I disagree with some things.
If we talk about the location of the company’s registration, then personally for me there were no problems. I have been trading for the second year. There is a pro, and there is also a cons. But, I earn money and successfully withdraw it to the card. The support works well, with this I agree 100% At any time of the day or night. I love to trade stocks, and of course, MT5 is the right platform, I also agree with that. In general, there are more pluses than minuses, if any exist.
I remember the times when AAFX had MT4 support only. I remember how happy I was they introduce MT5. To tell the truth I returned back to MT4 after 6 months of trading with 5th version of MT. Jeez,time flies! It’s been so many years ago that I registered with this broker!
Is global fx- trading is legit ? or it is just like aafx trading because the platform is the same ,just curious