Welcome to Our Best Forex Broker Review Website. Today we are doing AAAFx Review. In this review, we will cover those aspects which need to know before trading with this broker such as account types, trading platforms, assets or markets available, payments methods, accepted countries, customer support services, educational resources, pros/cons, and conclusion. So if you are planning to trade through this broker then keep reading this review.
Let’s get started!
What is AAAFx?
AAAFx was established in 2008 and is located in Greece. Thousands of real-money trading accounts have been opened by clients in 176 countries since the EU-regulated broker first opened its doors. About 70 employees work to help those traders, including a customer service staff that speaks 11 languages. AAAFx is a global forex and cryptocurrency broker that offers electronic and copy trading services.
Let’s dive into the details of AAAFx Review!
AAAFx: Law and Regulation
This section of the AAAFx Review will expose the regulation and licensing of this broker. The Hellenic Capital Markets Commission (HCMC) has granted AAAFx a license in Greece, allowing it to offer trading services to clients in the European Economic Region. ESMA guidelines on benefits and fund division are also followed by the broker. The Greek Guarantee Fund protects European clients with up to €30,000 in payments.
The Finance Services Authority (FSA) in St. Vincent and the Grenadines has granted AAAFx International permission to offer its services in the world, except the United States, China, and a few other nations. Additionally, regardless of account form or region, AAAFx provides negative balance security to all customers.
AAAFx: Trading Platforms
This section of AAAFx Review will cover the trading platform offered by this broker. MetaTrader 4 (MT4) and ZuluTrade are the two platforms available. All have the option to trade both manually and automatically.
MT4 is used for traders with all levels of expertise. Over 30 technical research tools, 50 customizable metrics, and nine timeline options are available on the platform. Via a ZuluTrade add-on, it also has automated and social trading features. It’s a perfect all-around tool that’s easy to use.
AAAFx’s website offers a free download of MT4, which is compatible with all Windows and Mac machines.
ZuluTrade is a web-based network for social and automatic trading. Clients will invest in traders from 190+ countries using the app, which needs no installation. ZuluGuard and Margin Call-o-Meter cover portfolios, reducing losses if traders deviate from their usual strategies. ZuluScripts also provides an algorithmic trading option, which allows users to write code to perform trades.
The platform’s one big flaw is its lack of visualization and charting capabilities.
The MT4 interface is available in a smartphone version from AAAFx. The software has almost all of the features of the desktop version, but with less customization and review options. One-touch trading, graphic market statistics, research maps, and various order forms are also available to smartphone customers.
The smartphone program, which is available for both iOS and Android smartphones, is ideal for traders on the move and will help them from missing out on trading opportunities.
AAAFx: Trading Accounts
In this section of AAAFx Review, we will discuss the types of accounts offered by this broker to its users. Three different AAAFx account forms can be generated during the registration process. Instruments, spreads, leverage ratios, and minimum deposits are all the same for all accounts.
- MT4 and ZuluTrade
- There is a $10 forex commission
- Manual and social trading
- MT4 platform
- Manual trading
- There is a $2.50 forex commission
- ZuluTrade available
- Social trading option
- There is a $2.50 forex commission
- $30 monthly subscription charges
- There are 25% performance charges on profit above the highest previous level
Any of the account forms will have Islamic-friendly trading requirements added to them.
Traders will try the MT4 and ZuluTrade platforms using a trial account provided by the broker. Demo accounts, which are funded by fake money but use real-time market data, allow for the risk-free testing of trading techniques, chart types, and research tools.
However, the broker’s trial accounts are capped, as inactivity for 14 days would result in the account being locked. Also, the AAAFx ZuluTrade demo account has a 30-day expiration date.
AAAFx: Assets and Markets Available
In this part of the AAAFx Review, we will reveal the assets and markets available to traders by using this broker. AAAFx provides forex, commodities, stock, and cryptocurrency trading:
- 36 currency pairs
- 9 stock exchanges
- 170 US business shares
- 6 assets (gold, natural gas, and fuel oil)
- 5 cryptocurrencies (Bitcoin, Ripple, and Ethereum)
Spreads and commissions are combined in AAAFx’s fee structure. The spreads are competitive; for example, the EUR/USD spread is usually 0.3 pips, while the GBP/USD and EUR/GBP spreads are both 0.7 and 0.5 pips.
A fee is often charged by AAAFx on each exchange, with varying prices for different account forms. Commissions for forex trades are $2.50 and $0.30 for CFDs for MT4 and Benefit Share accounts.
The maximum leverage rate is determined by the client’s position. Leverage thresholds for clients in the European Economic Area (EEA) are restricted to 1:30 according to ESMA regulations. Significant currency pairs have leverage up to 1:30 for these traders, while other forex pairs, as well as gold and major stock indexes, have leverage up to 1:20.
The leverage ratios at AAAFx International are even higher, exceeding 1:500 for all instruments. With that said, for equity greater than $50,000, the leverage decreases to 1:200, and all new accounts start with normal leverage of 1:100.
On the web, you can find simple margin calculators.
AAAFx: Deposit and Withdrawal methods
In this section of the AAAFx Review, we will reveal the deposit and withdrawal methods provided by this broker. Live trading accounts may be financed and drained using several payment types. Visa and MasterCard, as well as Union Pay cards in CNY, can be used in EUR, USD, CHF, and GBP. Wire transfers, Bitcoin, Skrill, Neteller, and six different forms of e-payments, such as Giropay and QIWI, will all be used to make deposits.
Deposits made for credit cards and Neteller are accepted immediately, while Bitcoin transfers can take up to 30 minutes. Skrill and e-payments can take up to one business day, while wire transfers can take up to two weeks. Deposit fees apply, but they vary depending on the transaction process and conversion fees which apply if the deposit currency is not the same as the account currency. The mandatory minimum deposit is $300.
When using credit cards, withdrawals are free, but the broker charges a $25 withdrawal fee on all other options. While payment providers can have their processing times, AAAFx processes withdrawals within one business day.
AAAFx: Accepted Countries
In this part of the AAAFx Review, we will provide you the names of the countries accepted by this broker. AAAFx welcomes traders from:
- United Kingdom
- South Africa
- Hong Kong
- United Arab Emirates
- Saudi Arabia
- Qatar and most other countries.
Traders from United States, Puerto Rico, Canada, China, Myanmar, Cuba, Iran, Korea, Sudan, Syria are unable to use AAAFx.
AAAFx: Customer Services
In this section of AAAFx Review, we will highlight the customer support services provided by this broker. The AAAFx support staff is available 24 hours a day, five days a week. Customer support representatives are available in 11 languages, including English, Japanese, Arabic, and Spanish, and open one hour before markets on Sundays (21:00 UTC) and close one hour after markets on Fridays (23:00 UTC).
Contact the customer service department at:
- Email Address – firstname.lastname@example.org
- Live chat Available – chat accessible on the website
- Telephone Contact – see the broker’s website for the contact number for your area.
AAAFx encrypts website traffic with Secure Sockets Layer (SSL). Firewalls, verification schemes, and access management protocols are examples of additional cybersecurity steps. In general, we assume AAAFx is a good broker.
In this part of the AAAFx Review, we will discuss the educational resources offered by this broker to its users. When it comes to valuable extra features, the broker falls. The lack of training materials will disappoint beginners.
AAAFx: Pros and Cons
This section of the AAAFx Review will conclude all the pros and cons of this broker.
- Signals are good
- Many Payment options
- Cryptocurrencies available
- Automated trading available
- They have Competitive spreads
- Social and copy trading
- No VPS available
- There are no educational resources
- Complaints about withdrawal problems and fees
- No USA Clients
Conclusion AAAFx Review
So we have reached the end of this AAAFx Review. After evaluating all of the important features of this broker, we can say that AAAFx provides a wide variety of tradable instruments as well as outstanding social and automated trading facilities. The fees, especially the $25 withdrawal fee, are, however, very high. There is some poor consumer feedback available online as well. As a result, we advise caution when considering opening an account with AAAFx, and if in doubt, look into the alternatives mentioned on this site.
If you are still interested to use this broker for future trading, then don’t forget to give it a try in Demo Account first to see it goes for you!