AAFX Trading Broker Review
Regulated by: FSA
Headquarters: Saint Vincent and the Grenadines
Spread: 0.3 pips (EURUSD)
Leverage: 2000:1
Minimum Deposit: $100
There are only a few offshore forex brokers out there that are willing to offer trading accounts for US citizens because of fears of being fined by US authorities. AAFX is one of those very rare forex brokers. It has its headquarters in Saint Vincent and the Grenadines and is being regulated by SVG FSA.
The company was founded in 2013 and delivers forex trading services to clients from over 100 countries including the US. AAFX Trading provides negative balance protection which means that you will never owe to the company more than you deposited. Those of you trading since 2015 (the sudden decision of SNB to remove EURCHF 1.20 cap) will praise the significance of negative balance protection function.
AAFX Trading is regulated by St. Vincent & the Grenadines FSA
AAFX Trading is a relatively recently founded company, however it boasts a strong industry reputation. SVG FSA is not one of my favorite financial regulators. On the other hand, the Broker gets my sympathy due to its pro-customer approach. The extensive and outstanding customer services offered by AAFX Trading includes, but not limited to, superior educational material, comprehensive market analysis, segregated customer accounts and social responsibility contributions. AAFX Trading is a significant financial sponsor of projects involving foreign organisations such as the Red Cross and UNICEF.
Account Types
AAFX Trading offers its clients two different types of forex trading accounts. The first is Fixed Account. As you might guess from the name, the instrument spreads don’t change depending on the time of day or volatility. The spreads are fixed and the major pairs, such as EURUSD, GBPUSD, USDJPY and USDCHF, have 2 pips spread. Traders can choose their account currency between USD, GBP and EUR. Maximum leverage for accounts up to $20000 is 1:2000 and for accounts bigger than $20000 is 1:1000. AAFX Trading does not charge any commission for the trades on Fixed Account other than the spreads. Traders may use Expert Advisors (EA) on this type of account and minimum deposit to start trading is $100.
Spreads as low as 0.3 pips
ECN Account is the second account type offered by AAFX Trading. ECN Account has almost the same features other than spreads with Fixed Account. The spreads on ECN Account is variable and could narrow as small as 0.3 pips on EURUSD. The low spreads come at a cost; commission. In addition to the spreads, you are charged with a certain amount of commission for each executed trade.
Customer Support
AAFX Trading provides customer support in a broad variety of languages including Arabic, Chinese, Czech, Croatian, Dutch, English, French, Greek, Indonesian, Indian, Italian, Japanese, Korean, Malay, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Thai, Turkish, Ukrainian, Urdu, and Vietnamese. The website has a Live Chat feature where you can get accurate and easy answers to your questions.
Trading Platforms
AAFX Trading provides its customers the MetaTrader 4 trading platform. In addition to the PC desktop version, MetaTrader 4 is also available on request for MAC, MetaTrader Web, and MetaTrader Mobile. MetaTrader 4 is the most used trading platform in the forex industry. It has very handy charting and tracking features for forex traders such as automated trading systems (EAs), Technical Indicators and different timeframes.
Withdrawal and Deposit Methods
AAFX Trading Clients can deposit and withdraw money using eight different methods. Such options include Wire Transfer, Debit Card, Credit Card, Web Money, Skrill, Neteller, Bitcoin, Fasapay. I would point out that there are not too many forex brokers offering Bitcoin as a method for deposit and withdrawal. Even though, my best choices for financial transactions with forex brokers are international wire transfer and credit card, offering Bitcoin as an alternative is a huge plus.
Trading Instruments
In addition to forex pairs as trading instruments, AAFX Trading gives its clients the opportunity to invest in company stocks, commodities, world equity indices, precious metals, oil and cryptocurrencies. Only cryptocurrency offered by AAFX Trading is Bitcoin, and traders are able to trade it with a 10:1 leverage. The Broker does not charge any extra commission or fee for Bitcoin transactions. On the other hand, AAFX Trading offers a wide range of commodities for trading. Those commodities are Gold, Silver, Corn, Wheat, Coffee, Sugar, Soybean, Cotton, Natural Gas, Rice, Copper, Palladium, Platinum and Cocoa.
Bonus and Promotions
- 35 percent Welcome Bonus – New traders who deposit at least 500 USD receive a tradable bonus of 35 per cent.
- Redeposit Bonus of 30 per cent – Existing customers will be able to enjoy an exclusive 30 per cent bonus on top of the amount they deposited.
- AAFX offers the ability for existing or new customers to receive a free smartphone based on the amount deposited and the lots exchanged.
Conclusion
AAFX Trading is an off-shore forex broker and I’m typically very vigilant about off-shore forex brokers as you know. They do not weigh heavy on my reliability scale. Nevertheless, as a result of its pro-customer approach such as segregated accounts, quick and reliable customer services and generous rewards and promotions, AAFX Trading becomes an outlier, getting an appropriate rating in the reliability department. And of course, AAFX Trading could be an alternative for residents of the US who are searching for a higher leverage. The Broker is one of the few offshore forex brokers accepting US clients.
| Broker Detail | |
|---|---|
| Adress: | Suite 305, Griffith Corporate Centre, Beachmont, Box 1510 Kingstown, St. Vincent and the Grenadines |
| Phone: | +19142335216 |
| Web: | |
| E-Mail: | [email protected] |
| Regulator: | FSA |
| Year Founded: | 2013 |
| Instruments | |
|---|---|
| Forex: | |
| Precious Metals: | |
| Energy: | |
| Soft Commodities: | |
| Indices: | |
| CFDs: | |
| Stocks: | |
| ETFs: | |
| Bonds: | |
| Options: | |
| Cryptocurrencies: | Bitcoin |
| Account Options | |
|---|---|
| ECN Account: | |
| Swap-Free Account: | |
| Nano Account: | |
| MAM / PAMM Account: | |
| Demo Account: | |
| Funding Methods: | Wire Transfer, Debit Card, Credit Card, Web Money, Skrill, Neteller, Fasapay, Bitcoin |
| Withdrawal Methods: | Wire Transfer, Debit Card, Credit Card, Web Money, Skrill, Neteller, Fasapay, Bitcoin |
| Customer Services | |
|---|---|
| Live Chat: | |
| 24 Hours Support: | |
| Languages: | Arabic, Chinese, Czech, Croatian, Danish, Dutch, English, French, German, Greek, Indonesian, Indian, Italian, Irish, Japanese, Korean, Malay, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Swedish, Thai, Turkish, Ukrainian, Urdu, Vietnamese |
| Trading | |
|---|---|
| Leverage: | 2000:1 |
| Spreads: | As low as 0.3 pips for EURUSD on ECN account |
| Minimum Deposit: | $100 |
| Fixed Spreads: | |
| Automated Trading: | |
| Hedging: | |
| API Trading: | |
| Negative Balance Protection: | |
| Accepts Clients from the US: |
| Bonus |
|---|
| 1) 35% Welcome Bonus - The new traders who deposit a minimum of amount of 500 EUR/USD get the 35% tradable bonus. |
| 2) 30% Redeposit Bonus - Existing clients will be able to enjoy this special 30% bonus on top the amount they deposited. |
| 3) AAFX rewards either existing or new clients the opportunity to get a free smartphone conditional on the amount deposited and lots traded. |
| Platforms | |
|---|---|
| Supported Platforms: | MetaTrader 4 |
| Webtrader: | |
| Mobile: | IOS, Android |
As far as I know, many brokers don’t want to work with clients from the US. Does AAFX Trading work with such clients?
Yes, AAFX is one of the few brokers that is working with US clients. However, our personal recommendation would be one of between Forex.com, FxChoice and Pax due to better trading conditions.
There are two trading terminals, leverage up to 1:2000, training – only standard, fixed. spreads large – from 2 points.
I started working here because of an unlimited demo and lucrative bonuses. But in general, I can note that other services turned out to be quite good here.
Recently a question arose – is it possible to work with ready-made algorithms here?
Yes, you can work with ready-made algorithms at AAFX, the broker has such an opportunity. And as for me, it’s very good that a broker doesn’t limit its clients in capabilities. Because I’ve worked with several brokers before, and they don’t have that option :c
Every person who starts trading becomes a full market participant.
And accordingly, they need to have a good understanding of the market mechanisms in order to act productively and increase their capital every day.
And this is where everything is needed.
1. A wide range of leverage.
2. Modern tools for all types of analysis.
3. Deposit bonuses.
4. E-books with information about the market, its mechanisms and various strategies.
Here you can both work and learn. This is the best solution.
Agree with all points, however I wish education to be more advanced. Of course, you can learn trading somewhere else. But still, I think good training is important for every broker.
Otherwise, I totally agree, AAFX does offer a large set of assets combined with high leverage.
I like to trade here, because I have a normal trading terminal, tools for technical and fundamental analysis, and also quickly withdraw money here.
Recently I paid attention to fixed spreads. Is it worth to try it?
If you like your spreads to be fixed regardless of market conditions, I would recommend fixed spread account. However, please bear in mind that fixed spread accounts usually come with higher spread compared to variable spread accounts.
AAFX offers opportunity to use both fixed spreads and variable ones. I think that depends on your own trading strategy. I think fixed spread will be good in case you’re trading in the long-term, but if you’re scalper or short time trader, than variable spread is better. That’s only my opinion.
I love trading for the fact that there is always something new here and I would even say something unexpected.
But for this, firstly, you need to have a good knowledge of the market, and secondly, you need to cooperate with a normal forex company, which will provide you with the opportunity to use all these “surprises” in your favor.
I chose this broker because the MT terminal here is my friend for a long time, and you can use the leverage even 1:2000, which is especially beneficial for fundamental analysis. And I respect that very much.
Yeah, I know what you mean) I love trading for the same reasons. I’ve been trading with the aafx for six months now and I’ve felt how much my level of trading has increased. All thanks to broker that works for me. I also like the fact that aafx has its own bonus system, it isn’t usually that common thing. When you are with the right brokerage, it is much easier and faster for you to learn, which is why I’ll continue to trade with aafx.
In any situation I prefer to have a choice, because some frames are always limitations that may not allow you to find your way and your approach. Of course I don’t mean any standard restrictions, because there are and always have been restrictions in the market, I mean some narrow focus from the broker, which makes you have a small set of assets and tools and you have to constantly adjust.
I can say that there is no such thing here, besides you have a unique opportunity to work with fixed or variable spreads, for many traders it is important or they do not fully understand what suits them best. So, here you can test everything and make your final choice.
I always felt like I could do anything, really, for some reason I was always sure of what I was doing and I can say that I really did a lot. There was the same situation with trading, I heard about it, read a bit and immediately decided to try.
About the company the choice immediately stopped at this one, because I liked the site itself, there was a lot of information presented, a large block of training materials, everything looked serious and solid, so the choice was obvious.
Of course, my self-confidence was a little quiet when I started to practice, it turned out that the short positions do not suit me categorically. But long-term trades have become the best option, which I still use today.
The broker was a very good catch. For a while, I couldn’t find a good broker after a not very pleasant situation with the previous one.The first time I heard about aafx when a friend of mine told me about it. One night he decided to play “big” and as you understand nothing good came out of it. He lost all his money and even was in a debt. He was really upset about it. But as it turned out, the broker provided protection from the negative balance. So my friend was still upset, but at least not in debt. He spoke very well about aafx and its services, cuz he realized that the risky deal was his own responsibility. So I thought, “Why not try how great it’s services on myself?” And so I write here as one of the satisfied clients.