Welcome to Our Best Forex Indicator Website. Today’s topic is AAAFx Review. In this review, we’ll look at account types, trading platforms, available assets or markets, payment policies, approved countries, customer support services, educational resources, pros and cons, and a conclusion. So, if you’re thinking about dealing with this broker, keep reading.
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Table of Contents
What is AAAFx?
AAAFx is a company based in Greece that was founded in 2008. Since the EU-regulated broker first opened its doors, thousands of real-money trading accounts have been opened by customers from 176 countries. Around 70 people are employed to assist the merchants, including a customer service team that speaks 11 languages. AAAFx is a forex and cryptocurrency broker based in the United States that provides electronic and copy trading services.
Let’s dive into the details of AAAFx Review!
AAAFx: Law and Regulation
The legislation and license of this broker will be revealed in this section of the AAAFx Review. AAAFx has been given a license by the Hellenic Capital Markets Commission (HCMC) in Greece, allowing it to provide trading services to customers in the European Economic Region. The broker also follows the ESMA rules on benefits and fund division. The Greek Guarantee Fund covers up to €30,000 in payments for European clients.
AAAFx International has been permitted to provide its services in the world, except for the United States, China, and a few other countries, by the Finance Services Authority (FSA) in St. Vincent and the Grenadines. AAAFx also offers negative balance protection to all consumers, regardless of account type or area.
AAAFx: Trading Platforms
This section of the AAAFx Review will focus on the broker’s trading platform. The two platforms available are MetaTrader 4 (MT4) and ZuluTrade. All of them have the option of manually or automatically trading.
MT4 is a platform that is used by traders of all skill levels. The platform includes over 30 technical study tools, 50 customizable metrics, and nine timeline options. It also has automated and social trading features through a ZuluTrade add-on. It’s an excellent all-around tool that’s simple to operate.
The AAAFx website offers a free download of MT4, which works on both Windows and Mac computers.
ZuluTrade is a web-based social and automated trading network. Clients can use the app, which does not require installation, to invest in merchants from over 190 countries. ZuluScripts also offers an algorithmic trading option, which allows users to execute trades using code.
One major fault in the platform is the lack of visualization and charting tools. As a result, manual merchants would benefit most from the MT4 platform.
AAAFx has released a smartphone version of the MT4 interface. The software has almost all of the features of the desktop version, but there are fewer customization and review options. Smartphone users can now access one-touch trade, visual market information, study maps, and other order forms.
The smartphone application, which is compatible with both iOS and Android devices, is suitable for traders on the go and would prevent them from missing out on trading opportunities.
AAAFx: Trading Accounts
The kinds of accounts provided by this broker to its customers will be discussed in this section of the AAAFx Review. During the registration process, three different AAAFx account forms can be produced. All accounts have the same instruments, spreads, leverage ratios, and minimum deposits. Rather, the differences can be seen in the investment strategies and channels that are available.
- Access to MT4 and ZuluTrade
- $10 forex commission
- Manual and social trading
- Access to the MT4 platform
- Manual trading
- $2.50 forex commission
- Access to ZuluTrade
- Social trading option
- $2.50 forex commission
- $30 monthly subscription fees
- 25% performance charges on profit above the highest previous level
Traders can use a trial account supplied by the broker to test the MT4 and ZuluTrade platforms. Demo accounts, which use real-time market data but are financed with bogus money, allow for risk-free tests of trading strategies, chart types, and research methods.
A 30-day demo account with AAAFx ZuluTrade is also available.
AAAFx: Assets and Markets Available
The assets and markets available to traders using this broker will be revealed in this section of the AAAFx Review. AAAFx offers trades in forex, commodities, stocks, and cryptocurrencies:
- 9 stock exchanges
- 36 currency pairs
- 170 business shares in the United States
- There are six assets (gold, natural gas, and fuel oil)
- 5 different cryptocurrencies (Bitcoin, Ripple, and Ethereum)
AAAFx’s fee structure combines spreads and commissions. The spreads are reasonable; for example, the EUR/USD spread is normally 0.3 pips, while the GBP/USD and EUR/GBP spreads are 0.7 and 0.5 pips, respectively.
AAAFx sometimes charges a fee for each exchange, with different pricing for different account types. For MT4 and Benefit Share accounts, commissions for forex trading are $2.50 and $0.30 for CFDs.
The client’s stance determines the maximum leverage rate. For these traders, significant currency pairs have leverage up to 1:30, while other forex pairs, gold, and main stock indexes have leverage up to 1:20.
AAAFx International’s leverage ratios are even higher, topping 1:500 for all instruments. With that said, if you have more than $50,000 in your account, the leverage drops to 1:200, and all new accounts start with regular leverage of 1:100.
AAAFx: Deposit and Withdrawal methods
The deposit and withdrawal procedures offered by AAAFx will be revealed in this section of the AAAFx Review. Several payment methods are available for funding and draining live trading accounts. In EUR, USD, CHF, and GBP, Visa and MasterCard, as well as Union Pay cards in CNY, can be used. Deposits can be made using wire transfers, Bitcoin, Skrill, Neteller, and six different types of e-payments, including Giropay and QIWI.
Withdrawals are free when using credit cards, but the broker charges a $25 fee for all other methods. While payment providers have different processing speeds, AAAFx completes withdrawals in one business day.
AAAFx: Accepted Countries
This section of the AAAFx Review will give you the names of the countries that this broker accepts. AAAFx invites traders from the following countries:
- United Kingdom
- South Africa
- Hong Kong
- United Arab Emirates
- Saudi Arabia
- Qatar and most other countries.
AAAFx is unavailable to traders from the United States, Puerto Rico, Canada, China, Myanmar, Cuba, Iran, Korea, Sudan, and Syria.
AAAFx: Customer Services
The customer support services offered by AAAFx will be highlighted in this section of our AAAFx Review. The AAAFx support team is available seven days a week, 24 hours a day. Customer service members speak 11 languages, including English, Japanese, Arabic, and Spanish, and are available one hour before markets open on Sundays (21:00 UTC) and one hour after markets close on Fridays (23:00 UTC).
AAAFx uses the Secure Sockets Layer to encrypt internet traffic (SSL). Additional safety measures include firewalls, verification schemes, and access management protocols, to name a few. In general, we believe AAAFx is a trustworthy broker.
The educational services presented by AAAFx to its users will be discussed in this section of the AAAFx Review. The broker fails when it comes to worthwhile extra features. Beginners would be disappointed by the lack of teaching materials. As a result, AAAFx is better suited to experienced traders and those looking for a user-friendly copy trading platform.
AAAFx: Pros and Cons
This section of the AAAFx Review will summarize all of the broker’s benefits and drawbacks.
- They have competitive spreads
- They have social and copy trading options
- A lot of payment options
- Cryptocurrencies are available
- Automated trading is available
- Signals are good
- There is no virtual private server (VPS) available;
- There are no educational resources
- Issues with withdrawals and fees
- No USA Clients
Conclusion AAAFx Review
So that brings us to the conclusion of this AAAFx Review. After examining all of this broker’s key features, we can conclude that AAAFx offers a diverse range of tradable instruments as well as great social and automated trading capabilities. However, the fees, particularly the $25 withdrawal fee, are extremely high. There is still some negative customer feedback available online. As a result, we recommend exercising caution when considering opening an account with AAAFx, and if in doubt, investigate the options listed on this page.
If you still want to use this broker for future trades, don’t forget to try it out first in a demo account to see how it works for you!