AAFX Trading Review
This AAFX Trading review is meant to show you all the features about this broker, and sum up all the reviews online. For those of you who don’t know, AAFX is an STP and ECN broker and was founded in 2014. The company is headquartered in Hong Kong with offices in Australia and St. Vincent & The Grenadines. It has been authorized by the financial regulator of Seychelles to provide its clients with access to trading 7 classes of trading instruments, including currency pairs and contracts for difference (CFDs) on stocks, equity indices, precious metals, energies, commodities, and cryptocurrencies.
AAFX Trading is one of the most reputable forex broker companies in Australia. It has headquarters in Hong Kong and Australia, making it an international company. Many internet sources want to show you reviews of this company, but they can be difficult to find. Below is an informative review of AAFX Trading, which will help you make an informed decision before opening an account with them or trading on their platform.
AAFX Trading Broker: Main Features
As you will see in this AAFX Trading review, a broker is a company that provides its customers with access to platforms that allow them to buy and sell foreign currencies. Some common names for Forex brokers are retail forex brokers and currency trading brokers. The AAFX reviews online confirm this.
Some people might not realize that retail currency traders can use brokers to access the 24-hour currency market. For example, forex brokers are available for individual traders as well as for institutional clients and large businesses. With investment banks, brokers provide valuable services like helping make trades in foreign currencies, guidance on risky investments, and more.
AAFX Trading is a global forex brokerage that was founded in 2010. It’s a no-dealing-desk broker and one of the world’s fastest-growing FX and CFD providers. The company offers Foreign Exchange and CFD trading on multiple platforms, including the popular MetaTrader 4 platform.
Our AAFX Trading review also shows that the platform specializes in stocks, commodities, CFDs, and currency trading through its incorporated and registered office in SVG.
Nonetheless, SVG has a tolerant zone for financial companies with only a small regulation when compared to other governments that require stricter compliance that ensures a higher level of clients protection. No matter what, you won’t be charged any commissions. Plus, you can easily trade on many instruments with a high amount of leverage.
Should You Trade At AAFX Trading? Our Review
Choosing a broker can be difficult. You want to find one with high stability and a good reputation that you can trust. We’ve compiled some of the most prestigious awards for brokers in the forex world, so you know where to start looking.
AAFX Trading has received several awards during its many years as a service to traders, including AAFX Trading was the recipient of the Malaysian Investor Show’s award for Best Broker in Asia in 2013. While some forex accounts require your own regulated money, others, like MT4 demo accounts, do not. The nature of an account is dictated by the degree of risk you’re comfortable with and how much capital you want to leverage.
Normally, the country where a broker lives will determine which regulations they’re obligated to follow.
Deposits & Withdrawals
The next section of the AAFX Trading broker review is deposits and withdrawals. In this case, AAFX is one of the few brokers that offer a variety of deposit and withdrawal options. As long as you have an internet connection, access to your banking information, and are a registered AAFX user, you can withdraw funds from your account. Withdrawal requests are processed within three business days.
To create a trading account with AAFX, you must deposit $100. The following methods are available:
There is a 0.20% trading fee for purchasing currency position and vice versa. Before trading, traders should know the costs associated with their chosen broker. Commissions spread and margins will vary depending on your chosen company.
AAFX Trading Reviews On Currency Pairs, Spread, Margin & Commission
Here is what you need to know about a currency pair’s spread, margin, and commissions: The spread of a currency pair is the variance between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for JPY as the term currency and 0.0001 for all other pairs.
Margin is the amount of money you’ll need to hold in your account to take a position. It’s calculated based on the current price of the base currency against USD, the size (volume) of your trade, and the leverage applied to your trading account. Brokers are charging you a commission for using their accounts. The level and type of services, accounts, and trades will change the costs associated with the commissions.
Execution-only brokers typically don’t offer personal investment advice. They charge much lower rates, but their traders have to manage their trades entirely on their own. The contract for differences trade is a form of trading that allows traders to gamble on the rising or falling prices of fast-moving global markets. This type of trading does incur a commission, and CFD trades on different markets have no commission but do include a spread around the market price for a particular instrument.
What About Commissions & Bonuses?
Trading is commission-free, with no added fees for clients at AFX Trading. Spreads start at different levels depending on the account type you choose. For example, spreads on a Fixed Account start at 2.0 pips, whereas an ECN or VIP Account will offer spreads that start at 0.2 pips. We regularly change and update our spreads, so they’re subject to change.
AFX Trading offers several perks, offers, and rewards. Our AAFX Trading review features the following bonuses:
- New clients receive a 35% welcome bonus
- Refer a friend and get a 5% up to 10% referral bonus
- $10 Jason’s Pizza Gift Card
- 10% back on your purchase when you spend $100 or more at Jason’s Pizza
- You can get 30% of your deposit as a welcome tradable bonus.
There are no fees on deposits and withdrawals.
So, Should You Trade At AAFX Trading?
Plenty of AAFX Trading reviews online show that this broker has a wide range of instruments to choose from along with a good choice of different types of accounts. There are no commissions, which means that the broker is favorable, but our AAFX Trading review shows that there is not a lot of regulatory coverage in this specific case. Since forex and CFDs trading is something you should always consider as risky, you should be cautious and only invest the amount of money you are prepared to risk losing. This is especially true for the leveraged accounts and the margin used to sustain their positions.
AAFX Trading is an STP and ECN broker and was founded in 2014. The company is headquartered in Hong Kong with offices in Australia and St. Vincent & The Grenadines and has been authorized by the financial regulator of Seychelles to provide its clients with access to trading 7 classes of trading instruments, including currency pairs and contracts for difference (CFDs) on stocks, equity indices, precious metals, energies, commodities, and cryptocurrencies.
- Tight spreads (from 0.8 pips on ECN accounts and 0.7 pips on VIP accounts).
- More than 150 instruments
- Support STP and ECN technologies
- 0% withdrawal and deposit fees
- Offshore license makes it suspicious
- Customer support doesn't work on Sundays
- No investment programs or training offered
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