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AAFX Trading Review

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AAFX Trading is a well-established Forex broker offering trading services to clients around the globe. The firm maintains several office locations, including active offices in Hong Kong, Saint Vincent & the Grenadines, and Australia. AAFX offers an assortment of account types, including both fixed and ECN account types. They also offer a wide variety of assets for clients to choose from. The AAFX Trading review that follows will provide complete details of the services provided by this broker.

Account Types

As mentioned above, there are several account types for clients to choose from, including Fixed, ECN, and VIP. Fixed and ECN accounts tend to be the most popular, due to the low minimum deposit requirement and straightforward trading conditions. The VIP account is for serious traders, requiring a minimum deposit in the amount of $20,000.

The ‘Fixed’ account type is commission and swap-free, offering fixed spreads. Expect the spreads to be on the high side, as spreads will be what the broker profits from when waiving commissions and swap fees. The minimum deposit for this account is $100.

The ‘ECN’ account is also commission and swap-free, but instead has variable spreads. The minimum deposit for this account is the same as the ‘Fixed’ account, $100.

The ‘VIP’ account requires a minimum deposit of $20,000 and is also commission and swap-free. With this account, clients will be allowed to trade on 100% raw spreads. This account type provides the client with three free consultations with a chief market analyst.

Islamic accounts are available, but technically, all accounts would be considered to be compliant with Shariah Law due to the fact that no swap or rollover fees are charged.

Platforms

AAFX Trading offers the well-known and always popular MetaTrader 4 platform. The platform is offered in it’s standard software format for Windows, but is also offered for Mac systems. Clients can also access the platform from within any internet-connected browser using WebTrader, as well as using the provided MT4 apps for smartphones and tablets. It is worth noting that the broker does provide platform video tutorials and that these should prove extremely beneficial for beginner level traders.

Leverage

The lowest leverage option is 1:10, while the highest is an amazing 1:2000. There are limits as to how much leverage can be applied. The 1:2000 ratio is only available on accounts containing $20,000 or less. The available leverage will be decreased on accounts containing more than this, dropping to 1:500 on accounts that contain $50,000 or more. Leverage can also vary by asset and these details are provided on the website. Obviously, it is quite rare to see leverage that is this high being offered and those who choose to use such substantial leverage will want to trade wisely and exercise caution.

Trade Sizes

Micro lot trading is possible on the Fixed and ECN accounts. This is not allowed with the VIP account. The largest allowed single trade size is 1,000 lots, but this trade size can be implemented with no limit regarding the number of actual trades. Margin call will trigger at 50%, while stop loss will be triggered at 20%. Although we’re not here to teach trading in this AAFX Trading review, if you’re new to Forex trading, it’s important to understand what these levels mean. At the 50% margin level, you will no longer be able to open new positions and current positions may be liquidated when the stop loss level is reached. Leverage does play a role, so keep this in mind as well.

Trading Costs

There are no per-trade commission charges and no swap or rollover fees. The cost that you pay to trade with this brokerage is therefore going to be part of the spreads. Check the spreads for your account type carefully. If you find them to be perfectly acceptable, then AAFX Trading may just be a good selection for you. Do note that the trading conditions seen within demo accounts do not always match actual trading conditions, so be sure that your spread information is indeed accurate.

Assets

AAFX is currently offering approximately 100 underlying assets for clients to trade on. Their asset index initially included only Forex, CFDs and Futures, but has now been expanded to include stocks, commodities, indices, metals, and one cryptocurrency (Bitcoin). A comprehensive list of available assets can be found on the company website, as can the specific trading conditions which are linked to each. Simply click on the ‘Instruments’ tab to open a drop-down list of asset categories. From there, you’ll be able to see the specific details for each individual asset.

Spreads

As mentioned above, Fixed accounts offer fixed spreads, while ECN accounts offer variable spreads and VIP accounts offer raw spreads. The AAFX Trading website advertises spreads as starting at only 0 pips. While we did not locate any assets with a spread this low, we did note several that were listed at 0.01 pips. Spreads on all majors currency pairs were starting at 2 pips. Variable spreads are of course always changing, and are therefore subject to change.

Minimum Deposit

Fixed and ECN accounts require a minimum of $100, but this can be higher, depending on your chosen deposit method. For example, bank wire transfers require a minimum of $1,000. The VIP account requires a minimum deposit of $20,000. Many FX brokers are now accepting minimum deposits of less than $100, but even so, it’s unrealistic to expect to actively trade with any amount less than $100. Even with $100 in your account, you will find some trades out of reach, so keep this in mind when making a decision with regards to how much money to deposit into a new account.

Deposit Methods & Costs

AAFX accepts several deposit methods, including credit/debit, bank wire, Bitcoin, Skrill, Neteller, Fasapay, and WebMoney. The only method that requires you to pay a deposit fee is bank wire. All other deposit methods are completely free. Bank wire transfers must be in the amount of at least $1,000 and will carry a $50 transaction fee. No third-party payments are accepted, which is basically standard throughout the industry.

Withdrawal Methods & Costs

Each of the accepted deposit methods can be used to make a withdrawal. Withdrawal requests are reviewed and paid out within three business days. There are no withdrawal fees on any payment method except bank wire, which cost $50 each if they are in amounts less than $2,000. When withdrawing more than $2,000 via bank wire, the fee is waived. Note that your trading account will need to have 250% or more in free margin to be able to successfully request a withdrawal. Should you be struggling with making a request, you may want to check your margin level before reporting a problem.

Withdrawal Processing & Wait Time

AAFX states that they will process withdrawals requests within three business days. There are brokers that offer much faster processing, but three days is not horrible. As for wait time, that will always depend on the chosen payment method, regardless of which Forex broker you choose. You can always expect cryptocurrency payments to be fastest, with card payments second fastest and bank wire transfers coming in last. The financial institution or payment processor will also play a role in this, as each will have their own specific turnaround time for payments processing.

Bonuses & Promotions

At this time, AAFX Trading is offering several bonuses. On first-time deposits of $500 or more, a 35% welcome bonus is being offered. Detailed terms and conditions for how to receive the bonus are provided on the broker’s website. In addition, they are currently offering a Re-Deposit Bonus and have an active promotion in place which provides a free iPad Pro or iPhone 6S to those who meet specific deposit and trade requirements. Again, complete details can be found on the company website.

Educational & Trading Tools

AAFX does offer an educational video library that is available in both English and Arabic. These videos cover a broad range of trading related topics, including MT4, trade strategies, cryptocurrencies, and more. These can be accessed by clicking on the ‘Education Center’ link from the main navigation banner. A video tutorial which teaches traders how to use the MetaTrader 4 platform correctly is also provided. As for tools, there is noting above and beyond those which are built into the platform.

Customer Service

The AAFX support team can be reached via Live Chat, phone, Skype, and email. Help is available throughout the standard business week, 24/5. The company does provide several division specific email addresses, along with several contact numbers for their various offices. Support is offered in several languages, which is extremely helpful.

  • Hong Kong: +85281981079
  • St. Vincent & the Grenadines: +19142335216
  • Australia: +61280035080

Demo Accounts

AAFX Trading does offer demo accounts. Even better, these accounts are said to closely mimic real life trading conditions. When creating a new demo account, you’ll be able to make your own selections for deposit amount, leverage setting, and more. A demo account can be created on their website by filling out a short form. There are also additional options for creating a demo account via Google and Facebook.

Countries Accepted

AAFX Trading is able to cater to traders from around the globe by having headquarters in several locations. By setting up shop in more than one country, they are able to essentially offer several versions of their services, each of which meet the requirement of a specific location. For example, the St. Vincent and the Grenadines branch will be allowed to accept U.S. traders, while the Australian branch would not. This is actually quite the intelligent business move and may be one which is copied by other FX brokers in the future.

Conclusion

During the course of composing this AAFX Trading review, we learned quite a lot about this broker. We discovered many strong points and only a few weaknesses. Clearly, each trader will need to decide what is most important to them, but we feel confident in stating that AAFX is worthy of consideration by all who are searching for a FX broker.

 

 

14 COMMENTS

  1. In my opinion AAFX is offering one of the best quality service among forex brokers. The best thing I find about them is their flexible policy of tariffs system. If you don’t hesitate trading on ECN accounts, spreads can get as low as 0.3-0.5 pips on most liquid instruments. On the other hand at times when the market is volatile, they can reach above 3-4 pips for same instruments. So in case you don’t want to mess with this headache like I don’t, then simply choose fixed account and enjoy compatible fixed spreads. Best conditions are as always for VIP clients, but they start with 20K depos only ((

  2. I received a 30% bonus for my first deposit (I even could get 35%, but decided to make a check by making the first deposit so I deposited not the very big amount). As a result, it took me around half a year to fulfill all the bonus requirements, then I could withdraw it. The next time I deposited already 1000 dollars and received a new bonus – 35% (for the repeated deposit this is maximum level). Besides the fact that you can get some additional income from bonuses, AAFX offers quite good spreads. If you are trading during the volatility sessions, like American, then spread for EURUSD and GBPUSD won’t grow more than one pip. Moreover, the deals’ execution is good, and I never had any additional loss because the deal was opened with the delay or the price was already far from the initial number.

  3. I came to the aafx at the invitation of my friend, as far as I know, he got a bonus. And for me it was a sure investment because my friend had worked here for a while before and made sure that this broker has everything okay and really has everything necessary for trading. I had not worked with MT4 before, but it turned out to be a really convenient platform with a lot of assets. I like that you can use different leverage here, although with small capital you should be more careful. But the biggest advantage is that it is possible to withdraw funds here without commissions. Plus, money comes in fast even if you left your application on the eve of the holidays. I think that’s very convenient.

  4. Trading is not an easy task and I have to make more and more efforts every year to keep abreast of important events and work in the market with the same activity. And what to do, the years take their toll. But I do not regret anything, this business has opened up new opportunities for me and provided me with a comfortable existence, which I have dreamed and thought about so much. But I achieved the greatest success in AAFx because this broker provides excellent service with a huge number of trading instruments, among which I am sure that every trader will find something suitable for him and his strategy.

  5. AAFX is definitely one of the leaders in the industry. With any brokerage you have to choose what to sacrifice: good executions or tight spreads. Here you get all-in-one. Excellent service, fast servers and connection, favorable trading conditions. One part of me likes tight spreads most of all, but the reasoning part of my mind would definitely say that reliability is the most important when you work on the market, so excellent fast executions is the other feature of AAFX.

  6. I like that support service works really well, that’s what I call orientation to the client, even in case of some unexpected issues, the solution will be really up-to-date. For only one year of working with AAFX, broker did everything to built a trusted relationships between me, as a trader, and itself, as a company. The thing is that my bank usually has some issues with transtactions and my funds are captured sometimes for 2-3 days. Of course for first time that was a great panic, as I’m quite suspicious person and I had the most bad ideas, so I immediately wrote in support and got a clear clarifications. That’s another proof that client-oriented service is not the quickest service, but that’s the service that get me, as a client, a clear understanding about what’s going on. I’m still using the same bank and get my funds within 3-4 days (AAFX usually send money within 24 hours), but now I know that that’s my banking system fault, so I just keep calm and enjoy trading 🙂

  7. I learned that FOREX can be profitable when my friend begun earning with trading and I also became interested, as I want to live large. I pay a lot of time to find really good broker, as I don’t want to lost my money or overpay. Finally, I chose AAFX and there is number of reasons (now, after 2 years I can only confirm my judgments):
    1. Low spreads and no additional commisions, I don’t overpay
    2. Quick support, so I always get answer and my problems will be resolved
    3. Vast list of deposit and withdrawal options, there is no need to adjust to broker, convenient system
    4. Metatrader is the most popular trading platform
    5. ECN account and fixed account, I can choose what I need
    6. Best asia brokerage 2013
    My experience only confirmed that broker is good, I can suggest AAFX to everyone.

  8. I’ve been trading with this broker for over three years and I don’t want to change the company. Aafx has a very loyal service and all the terms and conditions that I was promised in the agreement are met. Withdrawal funds is carried out in 24 hours, and the company does not take a huge commission and doesn’t do anything like that. Yes, there are some disadvantages. For example, I am short of assets and would like to see the company place more emphasis on training its traders, but these are my personal wishes, other traders may have different ones. I simply cannot call this broker dishonest. I also know other satisfied users. If you look at any company in this way, you can find some problems everywhere.

  9. I can’t say that AAFX’s fixed spreads are something extraordinary. Nowadays you can’’ surprise clients with 2 pips spread on currencies. However, I must admit that variable spreads here are really, really nice. Sure enough, at volatile times they widen up, but still, on average it makes a much better deal that most of the brokers can offer. I’ve been watching these spreads for over 3 months now and I think that recommending AAFX for active trading won’t be a mistake. They are good. They really are. Simply choose ECN account during registration process. Unless you wanna go for VIP account lol. Raw spreads at VIP sound even better 😉

  10. AAFX is not just a broker that gives you the opportunity to earn some money, but also to find friends with similar interests, or even a mentor, who will give u advises and tips. I started my own trading activity by visiting forums. So, I’m already much better at closing deals successfully, recently I even withdrew my first profit. And it is impossible to describe how much support you get from the peoples on forums.

  11. Brokerage is a place you work with 100500 times a day, that’s true. So you need choose relaible one only, I hate to write reviews, but one day one review helped me, so I want to share what I get with AAFX. Don’t use Fixed spreads account there. I can’t imagine trader that will need it. Even when markets go stormy, AAFX ECN spreads aren’t normally higher than 2 pips, but Fixed spreads starts at 2 pips, so it’s better to trade with ECN variable spreads acc, that’s for sure! Secondly, when you try fulfilling bonus requirements – bonuses are rather fascinating here, cuz can be withdrawn – don’t push it. You will be asked to have a big turnover. If your strategy assumes that – fine, go for it. But if you do 1-2 trades a day or even les normally – don’t push it and don’t start scalping for the sake of bonus only.

  12. When I came to trade and started to study the market, I had a slightly different idea of how things were going here.
    But thanks to the fact that there is a demo, access to a large number of instruments, etc., I still managed to understand all the nuances and start to perceive the situation as it is, I think it is very right.

  13. Now more and more brokers are setting a high minimum deposit. I think this is wrong. After all, before making a large deposit, I want to make sure that the company is worth dealing with. After all, there are some factors that you can’t feel on a demo account. For example, these are the convenience of deposit methods, the presence or absence of hidden fees, the speed of processing the withdrawal request. These are essential things. And I wouldn’t like to spend $1000 just to check it out.
    It’s a good thing that the AAFX understands this and allows you to start with $100. On the one hand, it’s quite affordable. On the other hand, it’s enough to trade with risk control. There will be no high profits without enormous leverage with such a small deposit. But you can understand does the company suit you or not.

  14. I’ve been testing this broker for two months and as of now I can say that I’m satisfied with this company. I chose Metatrader 5. I find this terminal the best solution the industry can offer now.
    I heard a lot about their 1:2000 leverage, but my trading style can be characterized as ultra-cautious. It can hardly be comptabilite with this leverage.
    I value brokers for their reliability and not for their unique features. I stick with quite standard things such as classical assets (currencies, metals, energies) and Metatraders, and my leverage doesn’t exceed 1:500. That’s enough for my day trading. AAfX seems reliable. At least, it follows from my trading experience with this broker.

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