AAFX Trading Review
Operational since 2014, AAFX Trading is an online forex and CFDs broker. The broker specializes in offering its clients online trading services for financial instruments such as currency pairs, commodities, stocks and market indices. The broker is based on the islands of Saint Vincent and the Grenadines with its registered office at Suite 305, Griffith Corporate Centre, Beachmont, Box 1510 Kingstown, St. Vincent and the Grenadines. AAFX also maintain offices in Malaysia and Hong Kong. Using the latest and most advanced security system, AAFX Trading aims to provide its clients a safe and secured online trading environment for them to carry out their trading activities.
AAFX Trading Video Review
VIDEO
AAFX Trading Regulations and Customer Protection
The company is incorporated in Saint Vincent and the Grenadines, the broker is an authorized International Business Companies (IBC) operating under the license #22916 IBC. However, as far as we know AAFX is not regulated under a strict regulatory authority.
In terms of customer protection, according to the broker statement, AAFX Trading has taken steps to ensure that the funds deposited by the clients are 100% secured. All funds are kept in segregated accounts from the broker’s operational funds. In addition, the funds are deposited in Tier 1 international banks. AAFX Trading also uses an automated risk management system to help ensure their clients’ accounts do not reach a negative balance when trading. For web security, AAFX Trading employs SSL encryption technology to help protect all sensitive information.
Trading Platforms
For trading platforms, AAFX Trading offers the MetaTrader 4 trading platform. The MT4 trading platform is widely adopted by the online trading industry and is popular among traders as well. The platform has proven to be extremely robust and reliable. It is a secured trading platform with a wide array of trading tools integrated into the platform. It comes with a comprehensive charting package and more than 50 different types of technical indicators. It also supports one-click trading, live news feeds and automated trading with the use of Expert Advisors (EAs). It is available for download as a window based client or as a Mac supported program.
AAFX Trading Mobile Trading
For traders who are constantly on the move, AAFX Trading has also provided their clients with mobile-optimized versions of the MT4 trading platform. The MT4 mobile trading apps are available free of charge to download from either the Google Play Store or Apple App Store. These apps enable you to check your account, manage your portfolio and make trades directly from your smartphones.
Trade Types/Instruments
For trade types, AAFX Trading offers spot currency trading and CFD trading. For CFDs, the markets covered include the stock market, the commodities market, the cryptocurrency market, and indices market. In total, there are 200 different types of instruments to select from. These instruments can be traded with a leverage ratio of as high as 1:2000.
Account Types
For trading account types, there are 2 basic types of trading accounts, Fixed account, and ECN account.
Fixed Account
Minimum deposit of $100
Fixed Spread
Commission Free Trading
Leverage 1:2000
Swap Free account available
EA trading supported
ECN Account
Minimum deposit of $100
Variable Spread
Commission Free Trading
Leverage 1:2000
Swap Free account available
EA trading supported
Commissions & Spreads
According to the broker statement, AAFX Trading doesn’t charge any commission for trades made on its trading platform. Instead, traders have to pay a small spread on the price quotes that they receive from the market. The spreads can be fixed or variable. For variable spreads, the following table below shows the typical spread that you will get for the ECN account.
Instrument Spreads (in pips)
EUR/USD
0.6
USD/JPY
0.7
GBP/USD
0.8
USD/CHF
1.0
USD/CAD
1.3
GBP/JPY
1.9
EUR/JPY
1.8`
CAD/JPY
3.8
GBP/CHF
3.4
EUR/CAD
4.7
Deposits & Withdrawals Options
To be able to cater to their international clientele base, AAFX Trading offers support for several types of payment methods. They can basically be categorized into 3 main types, major credit/debit cards, bank wire transfer, and eWallets. In addition to traditional methods, AAFX Trading also accepts cryptocurrency deposits such as Bitcoin. There is no withdrawal fee payable when making a withdrawal except when the withdrawal method is by bank wire transfer. For bank wire transfer, AAFX Trading imposes an administrative fee of $50 for each withdrawal.
Bonus & Promotions
Currently, AAFX Trading is one of the handfuls of online brokers around the world that are still offering bonuses when you sign up for a new trading account. For the welcome bonus, we are looking at 35% of the amount deposited. Each time you make a deposit, you can also earn a redeposit bonus of up to 30%. Please note that this information is correct at the time of writing, the broker may change or cancel the bonuses from time to time, we advise you to visit the broker site for more information: http://www.aafxtrading.com/promotions/welcome-bonus.
Customer Support
For customer support, the service is available through email, skype, live chat, and telephone access is 24 hours a day 5 days a week.
Pros and Cons
Pros
Choices of trading account
ECN Trading available
Generous level of bonuses
High leverage available
MT4 trading platform supported
A wide range of trading instruments
Cons
Relatively high spreads
Choice of trading platform limited to MT4
A Lack of a well-known regulation
AAFX Trading Q&A
Where is AAFX Trading based?
AAFX Trading is based on Saint Vincent and the Grenadines with its registered office at Suite 305, Griffith Corporate Centre, Beachmont, Box 1510 Kingstown, St. Vincent and the Grenadines.
How does AAFX Trading make money?
AAFX Trading makes its money by charging its traders small spreads on the trades that are executed on its trading platform.
How do I deposit in AAFX Trading account?
You can deposit funds into your AAFX Trading account using your credit card eWallet, Bitcoin wallet or by bank wire transfer.
How do I withdraw money from AAFX Trading?
Withdrawals are done through the same method used for making the fund deposit initially.
How do I open an account with AAFX Trading?
To open an AAFX Trading account, you need to fill up the registration form and submit it with all the required documents for verification.
Does AAFX Trading use MetaTrader?
Yes, AAFX Trading uses the MetaTrader 4 trading platform.
What is AAFX Trading leverage?
The maximum leverage offered by AAFX Trading is 1:2000.
