AZAforex is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.
AZAforex accepts clients from all over the world, excluding some countries where restrictions apply.
Forex broker offers the following underlying assets for FX trading.
|40+ Currency Pairs||Based on major and minor world currencies.|
|6 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, Monero.|
|6 Indice CFDs||Based on baskets of different blue-chip stocks.|
|5 Metal CFDs||Based on Gold, Silver and Copper.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|30+ Stock CFDs||Based on shares of US companies.|
AZAforex also offer almost the same assets (except crypto) for Binary Options trading.
Set up in 2016 as an offshore forex and binary options broker registered in Saint Vincent and the Grenadines, AZAforex is a broker that offers ultra-high leverage of up to 1:1,000, low spreads, and a decent range of instruments for trading.
In addition to the usual CFDs and forex pairs offered by AZAforex, it’s also interesting to see that this broker has kept its binary options business open, even as many other brokers have shut down that part of their business. The shut-downs have come after most “onshore” jurisdictions have either heavily regulated our outright banned dealing in binary options. As a result, the only possibility left for traders is to trade these from brokers based offshore that are largely unregulated, such as AZAforex.
In terms of platforms, AZAforex differs from many other CFD & forex brokers in that it offers a special trading platform known as Mobius Trader 7, or MT7 for short. Despite the similar names, MT7 is not to be confused with the much better-known platforms MT4 and 5. Instead, MT7 is a so-called whitelabel platform that is offered by many different brokers, but often promoted under the broker’s own brand. It comes in versions for web, Windows, Mac, Linux, and mobile devices, and has all of the features one would expect from a modern trading platform built in.
Moving over to the types of trading accounts available, AZAforex offers three choices, which all give access to the broker’s full range of trading instruments, including binary options. The three accounts are:
– Start account, with a minimum deposit of USD 1 and spreads from 0.0001 pips.
– Pro account, with a minimum deposit of USD 2,000 and spreads from 0.00001 pips.
– VIP account, with a minimum deposit of USD 10,000, the same tight spreads and commission-free trading.
Further, another great thing about AZAforex is the many different methods it accepts for deposits and withdrawals. This includes not only the common methods like bank cards, wire transfers, and various e-wallets like Skrill, Advcash and Qiwi, but also a number of cryptocurrencies. At the time of this review, the cryptocurrencies accepted by AZAforex were bitcoin (BTC), litecoin (LTC), ethereum (ETH), bitcoin cash (BCH), dash (DASH), USD tether (USDT), monero (XMR), and XRP.
Also, important to note about AZAforex is that the trading account will generally be denominated in the same currency as was made for the deposit. This also includes cryptocurrencies, and the broker states on its website that accounts can be denominated in either BTC, BCH, ETH, DASH, LTC, XMR, as well as in a range of fiat currencies.
Other than the normal blockchain transaction fees or transfer fees charged by banks, AZAforex does not charge their clients fees for processing deposits and withdrawals, which is always a good sign in our view. Interestingly, the broker also offers an extra bonus of between 5 and 25 percent to all users who choose cryptocurrency as their funding method, making this perhaps the most attractive option for many users.
In addition to the crypto deposit bonus, AZAforex also offers a bonus for all deposits (made with any funding method) of more than USD 2,000. For deposits of between USD 2,000 and 9,999 the user will receive a USD 200 bonus, for deposits of between USD 10,000 and 19,999 the user will receive a bonus of USD 1,000, and for deposits of more than USD 20,000 the user will receive a USD 2,000 bonus.
In summary, we believe it’s interesting to see brokers that offer such an extensive selection of both binary options, cryptocurrency CFDs, and traditional trading instruments. We also like the many bonuses offered by the broker, and the fact that it’s possible to fund the trading account directly with cryptocurrencies, which helps traders avoid strict KYC regulations and thus protect their personal privacy online.
It became clear to me that this company is either a scam or do not have the financial capabilities to meet it's liabilities. Initially, they are very friendly and provide exceptional customer service when they want you to set up an account. But, after that the customer service is subpar and non existent. Especially when it comes to withdrawals! It is going on two weeks, and I still have not received my withdrawal. It is extremely difficult to get in contact with someone or someone who can answer your questions, and they won't allow you to speak to a manager without putting more money in your account to become a VIP member. It may take about 5-6 attempts at communication before getting in contact with someone, and when you do get in contact they will only provide you non-answers to your questions without ever answering it. Learn from myself and avoid this broker who is trying to scam you.