AAAFx Review & Rating 2022
Is AAAfx scam or is this broker reliable? This broker has been around since 2008. Can we then assume that AAAfx is safe? This is a valid question that you definitely want an answer to before investing with them. In order to answer this question, we have subjected this broker to a thorough and independent review.
To understand whether AAAfx is a safe platform for you or not, this AAAfx broker review discusses 3 things you need to pay attention to: trust, customer support, and regulation.
In this review of AAAfx broker, we are also going to answer the following questions: Is AAAfx good for you? Is AAAfx legit? So if you would like to get an answer to these questions, be sure to read this review of AAAfx.
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Founded in 2008, AAAFX is a broker that allows you to trade on Forex, Social trading, and various binary options. Greece, while its headquarters are located in Athens, a member country of the European Union.
The company has over 70 employees, and in the past 5 years, it has invested heavily to open thousands of live accounts for various clients from 176 countries around the world.
Whether you are a beginner or an expert in the field, with AAAFX you won't have to worry about anything.
In fact, thanks to the customer support always available and ready to help its customers, it is able to accommodate various levels of merchants.
However, for those who want to open a “Demo Account”, and therefore try the trading platform before making the first deposit, the broker also offers this mode at the time of signing up.
But let's review AAAFX in detail, starting with the trustworthiness of this trading platform.
AAAFX pros and cons
- Investors Compensation Fund around €30 000
- Very competitive spreads
- Regulated and supervised by reputable organizations
- Little Choice of trading platforms
- MT5 not available
- No VPS
Is AAAfx legit? Can you trust them with your money? Yes, this broker is legit and takes a lot of measures to ensure that you can invest your money without any problems and completely safely.
AAAfx follows the guidelines of the MiFID and keeps clients' funds in a separate account. This means that the broker cannot use this money for other purposes. Should the broker go bankrupt, the clients are protected by the Greek Guarantee Fund. This fund will then pay back the investors. The maximum compensation amount is €30,000 per customer.
This AAAfx review also took a look at the technical security of the website. You do not want to transfer money to an unreliable broker.
Fortunately, AAAfx uses SSL encryption. With the help of this technology, all your financial transactions are 100% secure. Your connection is encrypted so that strangers cannot view your financial and personal information. You can identify a site that uses SSL by the lock next to the URL and the “https://” at the beginning of the URL. This technology ensures that you can transfer money safely at AAAFX.
Our AAAFX review found that this broker offers two trading platforms, MetaTrader 4 and ZuluTrade. These choices seem a little bit conventional concerning the contemporary world. The trading world is moving toward MetaTrader 5, and the broker still stands in the market with an “old is gold” mindset. The broker should try to adapt to the progressing technology by employing advanced trading tools to lure huge traders
Do you want to be able to invest wherever and whenever you want? Then the AAAFX mobile app is the ideal solution for you. This app can be downloaded for free from Google Play or the App Store. With the app you can make deposits, upload your personal documents, copy traders via the ZuluTrade Platform, and much more. You can trade in forex, commodities and indices.
The app has an average score of 3.8 out of 5 in Google Play and takes up 30 MB. You need Android 5.0 or higher to use the app. In the App store, the app has an average score of 2 out of 5. The app takes up 96.4 MB and you need iOS 10.0 or later.
AAAFx offers trading in several trading instruments, including Forex trading, cryptocurrencies, Commodities, Bonds, stock indices, and stocks.
You can trade popular companies like Tesla and Apple with AAAFx.
With this broker you can choose from 4 types of accounts:
- Classic account
- Profit sharing account
- MT4 account
- Demo account.
We tell you more about each trading account below:
You can trade manually as well as copy other investors. You need to make a minimum deposit of $250 to trade with this account. You simply download the trading platform of your choice. This trading account is automatically linked to ZuluTrade and is recommended for experienced investors . The standard commission plan applies.
Profit sharing account
You can only copy other investors via the Zulutrade platform. This profit sharing account is recommended for both beginners and experienced investors. You can copy other investors and thus gain experience. You set an amount to protect your capital. A performance fee is charged every time you have had a profitable month. You can, however, enjoy a limited commission plan.
This type of trading account allows you to trade manually only. If you choose this account, you can not copy other investors. This account's commission plan is very competitive.
With this account, you can trade risk-free. Also with this demo account, you can try the trading platform for free and for nothing. You just sign up for such a trial account and download the trading platform. You can get started right after that. Since you don't use real money, a demo account ensures that you can try out strategies risk-free.
Deposit and withdrawal methods
If you want to be able to invest with real money, you must make a deposit. Your deposits are always safe thanks to SSL technology. They are coded so that strangers cannot see them. This way you can safely deposit money at AAAFX.
How do I deposit money at AAAFX?
This broker offers various payment methods to transfer money. We go over them below:
(credit card or e-wallet)
€4000 per transaction
€8000 per month
2.5% (bank card)
(iDeal, Skrill, Neteller, EPS, Giropay, etc.)
Neteller: 3.4% + €0.29
Skrill: 2.95% + €0.25
What is the AAAFX minimum deposit?
The AAAFX minimum deposit is $300 if you want to open a live account.
How to make withdrawal
To be able to withdraw money from this broker, you must log in to your account, click on “Bank setup” and enter a bank account here. Then click on “funds” and “withdraw”.
You can only withdraw money using the same method with which you made a deposit. This is done to prevent money laundering. If you have made a deposit via different payment methods, withdrawals will be processed as follows: first via instant deposit, then electronic payment methods and then bank transfer.
If you want to withdraw money via credit card or e-wallets and the amount paid out is greater than the deposited amount, the remaining amount will be transferred via bank transfer.
You cannot currently withdraw money to your bitcoin wallet.
This broker also offers cryptocurrencies. AAAFX broker offers the following cryptocurrency pairs: BTC/USD, LTC/USD, ETH/USD, XRP/USD and BCH/USD. Please note: you are only speculating on a price increase or decrease of the digital currency compared to other currencies.
Are you not yet completely familiar with speculating on crypto? Then we recommend that you consult the guide on how to trade cryptocurrency like a pro.
An honest and reliable broker is transparent in terms of costs. You don't have to pay to open an account, but you will be charged some other fees.
First, we are talking about spreads. A spread refers to the difference between the buy and sell price. With this difference, the broker makes money. AAAFX offers very competitive and low spreads. The broker is very transparent when it comes to spreads. On the website, you will find a page that is completely devoted to the spreads that are charged.
Below you will find an overview of the different spreads:
Second, “ performance fees ” are charged should other investors copy. In case you have had a profitable month, a 20% performance fee will be charged.
Third, commission is also charged. For example, if you trade forex, you pay $9 per side of each standard lot traded. If you invest in CFDs, you pay €0.7 per traded lot.
Finally, there are also fees charged when you deposit money as we’ve previously mentioned in this AAAFX broker review.
Is AAAFX good? A good and reliable broker ensures that you can reach the customer support team quickly and easily.
Our AAAFX review team took a closer look at AAAFX customer support and found that this broker has a proficient team of experts who works round the clock to help you out.
You can contact AAAFX customer service 24/5 via email, phone, and live chat. The team is ready for you from Sunday at 9 PM (UTC time zone) to Friday 11 PM. The customer support team can be reached in a number of languages, including English, Portuguese, Spanish, Italian, German, French among others.
The broker also has an extensive FAQ. Here you will find more information about opening an account, deposits and withdrawals, login problems, forex trading, and more. We, therefore, recommend that you take a look here before contacting customer service.
Another important point that contributes to the reliability and security of a broker is the license. If a broker is licensed by a reputable authority, this is a good sign. So is AAAFX safe? Yes.
AAAfx is licensed and registered in Greece by HCMC (Hellenic Capital Markets Commission), so you don't have to worry about an AAAFX scam. This authority imposes strict rules on the broker. To ensure that the broker complies with these rules, regular checks are carried out. If not, the HCMC may choose to sanction or fine AAAFX.
In addition, the broker is registered with the Dutch Authority for the Financial Markets (AFM). The Dutch watchdog also regularly assesses this broker. If they notice irregularities, they can also punish or fine the broker. This ensures that an AAAFX scam is ruled out.
All the measures we discussed above prove that there is no AAAFX scam. Below we briefly review the measures taken:
- Your funds are deposited in a separate account
- The broker is a member of the Greek Guarantee Fund
- Licensed by HCMC and registered with the AFM
- Financial transactions are done using SSL encryption
- Easily accessible customer service
In this AAAFX review, it became clear that AAAFX is safe and reliable. The broker is licensed by the HCMC and monitored by the AFM. It is also a member of the Greek Guarantee Fund, which reimburses clients up to €30,000 should the broker run into financial difficulties. In addition, the money of the customers is deposited in a separate account so that it cannot be used for other and wrong purposes.
This broker also has a free demo account with which you can get to know the trading platform and instruments risk-free. You can invest in CFDs in commodities and indices, cryptocurrency and forex.