Forex trading and online investing has changed a lot 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 have to be careful while choosing a broker for your needs or else down the road, it will drain you both emotionally and financially. AAFX Trading is a Forex and CFD broker who is regulated in St. Vincent and Grenadines.
Technically speaking, due to the local restrictions present, for the most part they can be considered as unregulated which also implies that the funds deposited with them aren’t secure enough compared to their regulated counterparts.
They do have a lot of positive feedback on the web and on most forums, they seem to have maintained a healthy relationship. Nonetheless, there are more things individuals need to know about them before proceeding with them. So, read the following information and after analysing 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 considered, 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 standards that are favorable to 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. For starters, 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 out via email, phone, skype and live chat.
During our investigation, we found out that their live chat feature is extremely streamlined and the waiting periods are a breeze. All in all, it is surprising to see the level they have breached in terms of customer satisfaction. Additionally, they have social media presence as well 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
Get in touch with our affiliated Cryptocurrency Forensic Specialists at CNC Intelligence for free by filling out the form below.
- St Vincent and the Grenadines: +19142335216
- Hong Kong: +85281981079
- Australia: +61280035080
AAFX Trading Platforms and Conditions
AAFX Trading supports MetaTrader 4 and 5 along with dedicated mobile app and web trader support. In simple words, regardless of the kind of device you are using, they have something which you can work with provided you have internet access. Anyone who is familiar with the trading sector and has reasonable experience will never face any problem and will 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 too. 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 which includes forex, commodities, stocks, indices and much more. If you are particularly after stock trading, then you need to download the MT5 for better experience.
All of the instructions regarding the downloading process and setups are provided on the platform itself. Moving on to leverage, this brokerage offer upto 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 it should never be taken lightly.
There are few restrictions before enabling that kind of leverage and as they are subject to change anytime, 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 which makes the utmost sense. The difference between fixed and ECN accounts are 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 has to offer, then you need to upgrade to a VIP account. $100 is the minimum balance for a fixed and ECN account, for VIP, the minimum balance required is $20,000.
The leverage doesn’t change regardless of the account type you choose and based upon 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 to work with them can either promote them or use the white label platform to make the most out of their traffic. The exact rate of the commission per client is unknown, but we strongly believe that it is based upon the trading volume each affiliate generates.
There may be few prerequisites and processes involved before getting the opportunity to work with them, but as they are not disclosed publicly, you have to get in touch with them to know the requirements. They also provide a wide array of promotional tools to all of their affiliates. All in all, the policies are just and don’t show any questionable practises or conflict 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 which informs the people about the latest incidents and events which might affect the market.
The good thing about the educational series is that it is offered to everyone and clients do not have to necessarily make a deposit to unlock the content. If you are a bit old school, then you can head over to their ebook section and find content on 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 deposit and withdrawals, AAFX Trading offers a lot of choices to the clients. They support 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 which is usually in the neighbourhood of $10,000, then you will be exempt from any kind of 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. Processing time for withdrawals 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 few deadly accusations of unethical practises 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 are unable to recover it, get in touch with our team for a free consultation. We will gladly give you personalised steps to get your money back from them.
When you comment, your name, comment, and the timestamp will be public. We also store this data, which may be used for research or content creation in accordance with our Privacy Policy. By commenting, you consent to these terms.
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