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AAFX review and ratings

Established 2015
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown, Hong Kong, Sydney
Broker type MM | STP | ECN
Leverage up to 1:2000
Deposit from 100 USD
Spreads low  low
Platforms MetaTrader 4
Instruments Currencies Crypto Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay WebMoney Bitcoin

Company information

AAFX is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.

Availability

AAFX accepts clients from all over the world, excluding some jurisdictions where restrictions apply.

Distinctive features

Trading instruments

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.

Comprehensive review

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 4 (MT4). This platform is 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 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.

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