AAFX Trading review (2022) Review
AAFX Trading is a broker founded in 2014 and headquartered in St. Vincent and the Grenadines. It offers forex and CFDs on shares, indices, commodities, and crypto. AAFX Trading is regulated by the Financial Services Authority of St. Vincent and the Grenadines. They provide MT4 and MT5 platforms, no commissions or fees and a demo account.
- Regulation – FSA
- deposit – 100 USD
- Leverage – max 1:2000
- Spread – fixed and variable
What can be traded
Over 200 assets can be traded on its platforms:
They offer different types of accounts for you to choose from. They are based on your experience.
- Fixed account
- ECN account
- VIP account
They also offer a great bonus system. You can get a bonus not only on the first deposit but also on the next ones.
AAFX trading regulation
They fall under rigorous regulation of the Financial Services Authority of St Vincent and the Grenadines. Although this regulator is not well known, it has demanding measures in place to ensure deposit safety. They are also registered with Malaysia Incorporation and Hongkong Office.
Brokers demo account
To set up a demo account is greatly important for beginners. It’s one of the best ways to learn, test your skills and find your way through the platforms. You usually get a demo account topped up with virtual money, which you can play around with without risk. With AAFX Trading it seems simple. In the main menu in the top pane, you can choose to open an account. there you can choose the demo account. A small digital form pops up for you to fill in.
I found, that AAFX Trading does not charge any fees for deposits and withdrawals made through credit and debit cards and electronic wallets. Apparently, there are also no fees for deposits and withdrawals of over $10,000 made through Wire Transfer. Some of the third-party tools are free, whereas others have a small fee. All trading fees are incorporated into the spread. There are no commissions and no swaps fees are charged.
Registering for an account
I`m a beginner, so I have chosen to go for a demo account first. With AAFX Trading it’s very simple to find the registration form. In the top pane, you have the option to open an account. A short form comes up, where you fill in your name, email address, the country you`re in and telephone number. In a minute you`re in the account, where you can check your documents, amend details, download the platform, go through promotions etc. You also have access to e-books and daily reports.
I received two emails in a sec. The first email explains the personal account I have opened and what can be done there. And the second email had my login details.
AAFX Trading platforms
You can choose to download MT4 and MT5:
- For windows
- For apple
- For android
In the menu on their webpage, you can read about the difference between these two platforms and go through know-how video tutorials.
I chose to go with the WebTrader, but I didn`t find the option in my personal account. So I went through their website to the WebTrader. My personal account was opened yet again and I was asked, what kind of account I want to open. I chose demo, but I had to fill in things I didn`t know, like the account type (no demo), the currency, leverage and the initial deposit. This is unnecessary if I want a demo.
The good news is, whatever you fill in, you can proceed. So I have opened a demo account, but I have no idea, what to do next. I received another email with other login details and a link to download the platform. Unfortunately, I couldn`t download the platform, I`m working on a Mac and the download wasn`t possible.
The brokers’ website
Their website is quite simple. Intuitively I found what I was looking for. The main page shows the reasons why to trade with AAFX Trading and at the top, there is the main menu bar, where you can go through types of accounts, instruments, trading conditions, platforms, partners and promotions. The very last option is to look into their education centre. You`ll get educational videos and e-books.
AAFX Trading are active on Facebook, Twitter, Linked In, they have live chat available and skype. I tried Facebook, but that page didn`t open.
Twitter looked a bit better. The last post was in June, so a month ago. But the post before that was three years ago in January, so no extra activity there, but at least the link works.
Advantages and disadvantages of AAFX Trading
AAFX Trading can be considered as a low-cost broker, given its tight spreads and zero commissions, they offer the best platforms coupled with a variety of third party trading tools. According to other reviews, they have the best customer service I have heard of. They are easily reachable through multiple channels and their employees are knowledgeable. On the other hand, Facebook doesn’t work, Twitter is out of date, the demo account didn`t work for me and the regulation isn`t as good.
- Weak regulation
- Out of date social networks
- The demo account didn`t work
- Missing webinars
- Low-cost broker
- Very good customer service
- Daily news update
- MT4 and MT5
Pros / Cons