AAFX Trading is an online forex and CFD brokerage firm that offers over 250 assets for trading online via the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The broker offers trading with no commissions and high leverage along with daily market news, technical analysis & educational materials. However, they are let down significantly by lack of regulation and for that reason we would choose another online broker.
online broker show 1 AAFX Trading Review, Pros & Cons 2 AAFX Trading Overview 3 AAFX Trading Regulation 4 AAFX Trading Countries 5 AAFX Trading Platforms 5.1 MetaTrader 4 5.2 Mobile Trading Platform 6 AAFX Trading Trading Tools 6.1 Daily Market Review 6.2 Daily Market News 6.3 Economic Calendar 7 AAFX Trading Education 8 AAFX Trading Instruments 9 AAFX Trading Accounts & Fees 10 AAFX Trading Support 11 AAFX Trading Deposit & Withdrawal 12 AAFX Trading Account Opening 13 AAFX Trading Summary
AAFX Trading Review, Pros & Cons
In this detailed AAFX Trading review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
AAFX Trading Overview
- 1 AAFX Trading Overview
- 2 AAFX Trading Regulation
- 3 AAFX Trading Countries
- 4 AAFX Trading Platforms
- 5 AAFX Trading Trading Tools
- 6 AAFX Trading Education
- 7 AAFX Trading Instruments
- 8 AAFX Trading Accounts & Fees
- 9 AAFX Trading Support
- 10 AAFX Trading Deposit & Withdrawal
- 11 AAFX Trading Account Opening
- 12 AAFX Trading Summary
AAFX Trading was founded in 2010 in St. Vincent and the Grenadines with a vision for excellent customer service and trading conditions. The broker offers over 250 trading instruments, multiple payment options, good trade execution speeds and no commissions on trades. The broker also has offices in Australia, Hong Kong and Malaysia. The website is available in over 25 languages.
AAFX Trading offers leverage up to 1:2000 which is very high when compared to other brokers especially those regulated in Europe and America. It should be noted that trading with high leverage is very risky and you should have a thorough understand of leverage and the significant risks involved. The broker also offers ECN trading with competitive execution speeds, spreads and no commissions.
AAFX Trading has been rendering assistance to the less privileged around the world as part of its Corporate Social Responsibility. So far, it has made donations to ‘SOS Children’s Villages’; which is an organisation committed to helping children in need by providing care, education and health. It has also made donations to the ‘Red Cross’ and the UNICEF; both of which are internationally renowned organisations rendering life saving humanitarian services.
The brand has been recognized by the industry for superior services and has been honoured with awards. In 2013, AAFX Trading won the ‘Best broker of South East Asia’ award. It is also a recipient of the ‘Best Broker in Malaysia’ award.
AAFX Trading Regulation
AAFX Trading is registered in St. Vincent and the Grenadines (SVG) with the reg. no: 22916 IBC. It is a brand of AA Business Solutions BHD which is authorised and regulated by the Financial Services Authority of the St. Vincent and the Grenadines (FSA SVG). The broker is also registered in Malaysia and Hong Kong.
All clients’ funds should be kept in separate bank accounts from that of the broker. The accounts are maintained with the top European banks that are well established, strong and reliable. The reason for separating the accounts is to avoid the broker from mixing clients’ deposits with its own funds.
The broker states that it makes sure that clients do not lose more money than they have deposited. They attempt to achieve this by implementing an automatic risk management tool on its entire trading system.
To ensure a secured trading environment, AAFX Trading has deployed the Secured Socket Layer (SSL) technology across all its platforms, payment processing gateways and website. This SSL technology deters internet hackers from accessing clients’ bank details, credit card info and other sensitive info as it is being transmitted to the servers.
AAFX trading mandates all clients to identify themselves through ‘Know Your Customer’ (KYC) procedures. This is why at registration; clients are required to upload identity documents like a government issued ID card and a utility bill.
Also, the broker has embraced the ‘Anti Money Laundering (AML) laws which prohibits using the brokerage to transfer stolen money or fund terrorist operations. To this effect, Credit card users are to upload a picture of the card before using it. No cash deposits or transfers from third parties.
AAFX Trading Countries
AAFX Trading did not provide information on its website regarding the countries they can accept clients from but they do accept US clients. Some AAFX Trading broker features and products mentioned within this AAFX Trading review may not be available to traders from specific countries due to legal restrictions.
AAFX Trading Platforms
AAFX provide traders with the popular MetaTrader 4 and MetaTrader 5 platforms completely free of charge for desktop, web browsers and mobile devices for trading on the go.
The MT4 platform was launched in 2005 by ‘MetaQuotes Software Corporation’ which is a Russian firm known for developing financial trading softwares. Since then, the platform has been adopted by numerous brokers and traders. The MT4 platform is known to be fast, reliable and extendable with plugin apps. It comes preloaded with tools for order management and market analysis. The MT4 platform is available on all devices because it comes as follows:
Here are some of the core features of the MT4 trading platform:
AAFX Trading MT4 Trading Platform
Mobile Trading Platform
The MT4 mobile app is available for iOS and Android devices. The apps can be downloaded from the respective app stores. This is the only mobile trading platform available to AAFX Trading clients.
Here are some of the features of the MetaTrader mobile trading app:
AAFX Trading MT4 Mobile Trading App
AAFX Trading Trading Tools
Daily Market Review
This comes up daily on the website. It gives a review of the markets as well as analysis on selected instruments. It also gives trading strategies and even trading signals.
Daily Market News
This is presented live from the newsroom of AAFX Trading on a daily basis. The news correspondents report from the world’s financial capitals. The news session gives the latest news within the financial markets. The videos are usually short and straight to the point.
AAFX Trading Daily Market News
This shows the dates for important events that usually have impacts on the market prices. It also shows its impact history, analysis and analysts’ forecast. This tool is indispensable in fundamental analysis. The AAFX Trading economic calendar is powered by ‘TradingView’; a third party social network, charting package and financial research firm.
AAFX Trading Economic Calendar
AAFX Trading Education
The education centre comprises of a VOD library in English and Arabic. The English videos are grouped as follows:
AAFX Trading Educational Videos
AAFX Trading Instruments
The following instruments are available for trading online with AAFX Trading:
AAFX Trading Accounts & Fees
AAFx Trading account types depend on the traders’ capital, preferences and experience. All trading fees are incorporated into the spread. There are no commissions.
All AAFX Trading accounts are swap-free and so, no need for separate Islamic accounts. Free demo accounts are available and can be easily created from the website.
AAFX Trading Broker Account Types
As broker fees can vary and change, there may be additional fees that are not listed in this AAFX Trading review. It is imperative to ensure that you check and understand all of the latest information before you open an AAFX Trading broker account for online trading.
AAFX Trading Support
The customer support desk at AAFX Trading is always available during the forex trading hours, which is from Monday to Fridays 24/5. You can reach the support on their phone lines and email. Instant web chat is available on the website. Clients can also chat with the support team on Skype. On social media, they are on Facebook, Twitter, YouTube and LinkedIn.
AAFX Trading Deposit & Withdrawal
AAFX Trading prohibits third party deposits. In fact, 3% penalty charges apply to all third party deposits. This means that if a third party payment of $1,000 is made into a client’s account, AAFX Trading immediately refunds $970 to the funding source retaining $30 as penalty fee.
AAFX Trading processes all withdrawal within 3 days but the payment channel or bank used will need time to complete their own processing. Generally, clients should give up to 10 days to receive their withdrawals. Third party payment processors may charge additional fees that you should be fully aware of.
AAFX Trading Account Payment Options
AAFX Trading Account Opening
Visit the broker website and click on ‘Open Live Account’ which is found just above the menu bar. The form below displays.
AAFX Trading Broker Account Opening
Fill the form and click on ‘Open Account’. Alternatively, if you already have accounts with Facebook or Google, you can click on the appropriate button to automatically receive your profile settings from theses websites. Immediately the account is opened and you are logged into the secured clients’ area. This is where you can upload verification documents, create multiple live and demo accounts as well as view you trading performance and account statements. From the clients’ area, you can also make deposits, download the MT4 platforms and commence trading online.
AAFX Trading Summary
AAFX Trading is a broker that is focused on its customers. The broker is regulated by the FSA in SVG. The brand offers over 250 forex and CFDs for trading online via the versatile MT4 trading platform. Clients’ funds are kept segregated, technological security solutions have been implemented and decent trading conditions are provided.
The VIP account is special because it offers ECN trading with competitive spreads and without swap fees or trading commissions. For most brokers, ECN accounts attract commissions for every lot traded.
Multiple payment options are available. The MT4 platform is reliable and takes care of the trading needs of most brokers. AAFX Trading allows all trading styles and strategies including the use of EAs, scalping and other trading systems. Market news and analysis is provided along with training videos to help those who are new to trading.
However, charging $50 as withdrawal commission on bank transfers is very high when compared to other brokers who charge nothing. The broker also does not provide social trading platforms or managed portfolios to help investors. Also, many traders frown at offshore regulations because they believe that it is not as reliable as that of ASIC, CySEC or FCA. We would be very careful when dealing with this broker and prefer to use an alternative online broker. You can see our best trading brokers for alternative options.
The transaction of such financial instruments known as Forex, Commodities, Indices, Energies, CFD’s and any other product offered on this website by the Company, can contain a substantial degree of risk. Before choosing to undertake such transactions, you should carefully evaluate whether your financial situation is appropriate for such transactions. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. You acknowledge that Trading foreign exchange, Commodities, Indices, CDFs and any other Product offered by the Company on this website may result in a substantial or complete loss of funds and should therefore only be undertaken with risk capital, which are funds that are not necessary to the survival or well being of the user.
Min $100 Deposit
AAFX Trading is an online forex & CFD brokerage firm that offers over 250 assets for trading on the MT4 platform. The broker offers no commissions & high leverage along with daily market news, technical analysis & trader education. However, they are let down significantly by lack of regulation.