AAFX is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.
AAFX accepts clients from all over the world, excluding some jurisdictions where restrictions apply.
Forex broker offers the following underlying assets for trading.
|40+ Currency Pairs||Based on major and minor world currencies.|
|1 Crypto Pair||Based on Bitcoin.|
|11 Indice CFDs||Based on baskets of different blue-chip stocks.|
|5 Metal CFDs||Based on Gold, Silver, Platinum, Palladium and Copper.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|8 Soft CFDs||Based on Cocoa, Coffee, Corn, Wheat, Sugar, Soybean, Cotton, Rice.|
|200+ Stock CFDs||Based on shares of US, UK and EU companies.|
AAFX Trading is a forex & CFD broker based out of the popular offshore jurisdiction Saint Vincent and the Grenadines, and registered under the business name AAFXTrading Company Ltd. In addition to being headquartered in Saint Vincent and the Grenadines, AAFX also has registered offices in Malaysia and Hong Kong.
Despite stating on its website that “AAFXTrading.com is a fully licensed and regulated company,” we do not agree that this is entirely true. First of all, Saint Vincent and the Grenadines does not regulate forex brokers at all, but instead allows them to simply incorporate there as a business. In addition, the local offices in Malaysia and Hong Kong are not regulated by any government agency either.
Unlike many other unregulated forex brokers, AAFX is not a member of any third-party dispute resolution organizations. Unfortunately, this means that there is nowhere to turn to in case of any problems with this broker.
New traders signing up with AAFX have the choice to open a “Fixed Account” or an “ECN Account,” with either USD, GBP, or EUR as the base currency. The main difference between these is that the ECN account offers much tighter spreads that are variable, while the ECN account offers fairly wide spreads that starts from 2 pips. Notably, both account types still offer commission-free trading.
The minimum deposit to get started trading is USD/GBP/EUR 100 for both account types.
AAFX offers all clients access to its full selection of trading instruments, regardless of the account type they are trading with. This includes diverse assets such as more than 40 forex pairs, cryptocurrencies, more than 200 stocks, a range of stock indices, and many popular commodities.
With this broker being based in a typical offshore jurisdiction, trading leverage is also extremely high at up to 1:2,000. With such high leverage, extreme caution and discipline must be exercised when trading, as even slight price moves can wipe out an entire trading account.
To welcome new traders, AAFX has launched a bonus program that gives out a 35% “welcome bonus” on top of the trader’s initial deposit (minimum USD/GBP/EUR 500). Take note, however, that there is a long list of complicated terms & conditions that govern the bonus payout, which makes it more or less worthless in our eyes.
In terms of trading platforms, AAFX has chosen to go down the most standard path by focusing only on the MetaTrader platforms (MT4 and MT5). These platforms are available for both PC, Mac, and mobile devices, in addition to as web-based version that can be used on any computer. As always, choosing MT4/MT5 as the trading platform makes the transition from one broker to another easy, and it is therefore often a preferred choice among smaller forex & CFD brokers like AAFX.
AAFX’s website is seemingly available in a range of different languages, but these are all Google translated from the original English version. Occasional mistakes should therefore be expected when viewing the website in another language.
The broker’s customer support is available via two local phone numbers in Switzerland and Australia, or via live chat on the website. According to information on the broker’s website, support is open 24 hours a day on all trading days.
This is a sub-platform. After I deposited the margin into the account, they suspended my account and prevented me from logging in to the platform. The first time I encountered such a rogue in foreign exchange, this platform gave a star to it.
AAFX is a SCAM BROKER!
I have started my trading with AAFX almost 2 weeks ago and my account number is 2132579007. On Friday 27th Mar-2020 I have traded in DOW JONES (30 CFDs). AAFX accepted my trading orders and market moves in my favor and when it closed on Friday night those positions were in profit around 3000 to 4000 USD. On Monday market opened in downside gap and my positions were in profit of 18000 USD, but they have deleted those positions and blocked my trading account. Then I came on live chat with them and they totally refused to facilitate their client and challenged me to do what can I do, they will never put those positions back into my account.
AAFX have done a huge scam with their clients and hold their profits. So whoever read these comments please don’t do any kind of trading with this Forex Broker because they only wants their clients in loss. And luckily if someone takes profit from market they will delete your profit positions.
Ignorant and apathetic support. Emails remain unanswered. IB commission stays unpaid.