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AAFX Trading Review 2020: is it a trustworthy company or a scam?

Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D. AAFX Trading does not charge any fees for deposits and withdrawals made through credit and debit cards and electronic wallets. There are also no fees for deposits and withdrawals of over $10,000 made through Wire Transfer.

aafx trading broker

For example, the Fixed account has spreads that are as low as 2 pips while with the ECN type the spreads start at 0.2 pips. Both accounts are commission-free and their final difference is in the variability of spreads. Withdrawals can be done the same way the client deposited, and the minimum withdrawal is also 100 USD/EUR. The broker offers a bonus of 30-50% for deposits, depending on the amount.

AAFX Trading Customer Support

AAFX Trading does not charge inactivity fees, but it’s best to check with the broker for the most up-to-date information regarding any other fees. I found cryptocurrency videos especially informative, as I wasn’t so into crypto these days. I was wrong, crypto is a phenomenon, with great technology in the background. Another cryptocurrency is Litecoin , which is similar to Bitcoin but varies in terms of scalability.

The Forex Peace Army recommends against depositing money with AAFX Trading. Many FPA members complained about problems with AAFXTrading, and three of them brought FPA Traders Court complaints against the company. They have refused to talk about it or respond to my messages ever since.

And it’s the mandatory condition while trading forex markets. Thus, it will be absolutely worth enjoying trading and getting good help for completing the trade. There are guides available that will cover all the essentials for beginners to understand trading and start the journey.

AAFX TRADING Reliability & Security

The current floating rates system, which we know today, was adopted after World War II and has been in effect ever since. A true ECN account instantly transmits your open or close order request to the LP. A 60 second minimum order time is typically a sign of a broker operating in market-maker mode and needing to hedge its net orders.

aafx trading broker

After completing it wait for the approval which takes upto 24hours. Commissions will only be count if the trade has profit/loss, the trade with 0 P/L cannot be eligible for the commission. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. AAFX Trading is a regulated broker, it is regulated by the International Financial Services Commission of Belize.

AAFX Trading Review

Although it is a suspicious choice because of its location, many people state that it is a really trustable service. When it comes to the commission for deposits and withdrawals, the broker remains untransparent. Since the website of the broker is not functioning, we couldn’t test the platform and verify the quality. However, there are many reviews by the clients, as well as regulatory body warnings, that are showing who this broker is. The broker’s customer support is available via two local phone numbers in Switzerland and Australia, or via live chat on the website.

They allow for currency conversions, investments, exchange of goods and services, and financial transactions. AAFX Trading offers the renowned MT4, a trading platform that is popular with both beginner and experienced traders, and a variety of third party trading tools. At least 95% of all brokers offer this platform given its advanced features and ease of use.

  • In fact, we have got real-time, and house news feeds that will be helpful for you to understand how specific investment is performing.
  • Lastly, Bitcoin Cash was produced by the Bitcoin hard fork in 2017 as a new form of the blockchain with altered rules.
  • It is important to note that deposits through all the above methods reflect in the trader’s account instantly.
  • Traders are also given an opportunity to test their trading skills by challenging each other through competitions.

The brokers without their social trading platform often partner with third parties such as ZuluTrade to ensure that traders get the best experience. Unfortunately, AAFX has not invested enough in social trading platforms. We believe that there are better options out there for social trading. The former is suitable for traders who operate with high sums and provides them with the lowest fees possible.

AAFX Trading at a glance

He was given excuses, then his account was locked and there was no further communication from the company. A few hours before he would finally be allowed to withdraw huge trades were placed and a large spike wiped out his account. Then is password was changed, locking him of of the account. AAFXTrading claimed they had an email from him asking for a password change, but also claimed the email address has no headers. Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions. Secondly, this broker has an excellent reputation for personal data safety.

Awards gained by a brokerage by esteemed organizations do provide much more confidence in the world of forex. We understand the importance of flexibility and control over your funds. With our bonus promotions, deposited funds can be withdrawn at any time. This allows you to have the freedom to manage your finances as needed while still taking advantage of our bonus promotions. At AAFX, we reserve the right to modify and/or cancel the terms and conditions of our bonus promotions at any time.

Besides, large financial services firms choose to trade on behalf of their customers and investment banks. They are the individuals who will be handling only a small portion aafx trading of the overall forex exchange market. That’s quite a rare fee-less deal and stands to save traders a significant amount when opening positions and holding them overnight.

AAFX Trading Pros and Cons

It is not clear how this broker makes money on this account with the 100% ECN spreads and zero commissions. AAFX offers a first-time deposit bonus of up to 50% to entice new traders to sign up. This broker is perfect for both beginner and experienced traders, given that it provides well-structured and comprehensive educational materials covering all levels of trading.

I was able to deposit $20k over a week period in $5k increments. Then, the last time when i tried to deposit the $5000 went somewhere else and not in my account. I got to find out that the bitcoin address that they provided me with was not one of their addresses.

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