AAAFx Review & Rating 2023Visit AAAFx
Is AAAFx scam or is this broker reliable? This broker has been around since 2007. 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.
YouTube Video: AAAFx Review
Founded in 2007, AAAFx, a Finvasia group alliance, is a CFD broker that allows you to trade in forex, commodities, indices, stocks and cryptocurrencies, while its headquarters are located in Athens, a member country of the European Union.
In the past 5 years, AAAFx has opened thousands of live accounts for various clients from 176 countries around the world.
AAAFx is an Award-winning broker, and 2022 was the year when they were recognized as a highly rated broker. They have won 2 awards - ‘Most Transparent Broker’ at the Ultimate Fintech Awards 2022, and the ‘Best FX Service Provider’ at Forex Expo Dubai 2022.
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 who is available 24/7 and ready to help its customers, it is able to accommodate various levels of clients.
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
- Award-winning Broker
- Wide range of platforms offered
- 100% Deposit bonus for Global clients
- Zero Commission
- Free VPS
- Limited educational resources
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 three trading platforms. MetaTrader 4, MetaTrader 5 and ActTrader.
Apart from the above mentioned platforms, AAAFx offers Social trading through ZuluTrade, a Social wealth management platform. The four platforms enable clients to choose the one that best suit them and their goals. With the inclusion of platforms such as the MetaTrader 4, MetaTrader 5, ActTrader and ZuluTrade, the broker has successfully managed to adapt to clients' growing needs by employing advanced trading tools to attract the most demanding traders.
AAAFx offers trading in several trading instruments, including Forex trading, cryptocurrencies, Commodities, Indices, and stocks CFDs.
You can trade popular companies like Tesla and Apple with AAAFx.
With this broker you can choose from 4 types of accounts:
● ECN Account
● ECN Plus Account
● ECN Zero Account
● Islamic Account
We tell you more about each trading account below:
Your trading experience may be outstanding in every way by combining cutting-edge technology with minimal commission and swap fees. For this account type, the minimal deposit is $100. Commission charged for the ECN Account is $2.5 per $100k.
ECN Plus Account
The minimum deposit for the ECN Plus account is $1000. The finest combination for traders is provided by this account type: low commission ($1.5 per $100k), raw thin spreads. Fast trade execution is available to traders using this account type.
ECN Zero Account
What makes this account different from the others is that commission charged by AAAFx for this account type is $0 per $100k, with a $50.000 minimum deposit.
This account type is mainly for traders of the Islamic faith. The minimum deposit is only $100, with 0 swap charges and $2.5 per $100k commission charged.
AAAFx also offers to traders an opportunity to open a Demo account. 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. Demo account expires after 30 days of inactivity.
AAAFx offers good leverage to traders - up to 1:500. Leverage depends on the trader’s location, traders under the Non-EU entity are offered a maximum leverage of 1:500. Traders under the EU entity, however, are offered a maximum leverage of 1:30 according to ESMA standards.
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. The minimum deposit required is $100, and there are several methods for depositing and withdrawing money.
How do I deposit money at AAAFx?
Deposit and withdrawal methods are:
- Bank wire - FNB, KoraPay (Through Praxis), Help2Pay, FairPay, PayRetailers
- Bank cards - Debit/Credit card
- e-Wallets - FairPay, VirtualPay, Skrill, Neteller
- Cryptocurrency - match2pay (eth, btc and usdt), & Capital Wallet
What is the AAAFx minimum deposit?
The AAAFx minimum deposit is $100 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 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.
This broker also offers cryptocurrencies. AAAFx broker offers 6 major Cryptocurrency pairs including BTC/USD, ETH/USD, LTC/USD and others.
Please note: you are only speculating on a price increase or decrease of the digital currency compared to other currencies.
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, spreads for all major currency pairs start from 0.0 pips.
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:
Starting from 0.0 pips
Starting from 1.0 pips
Starting from 1.2 pips
Starting from 1.3 pips
The commission charged by AAAFx depends on the account type which is as follows:
ECN Account - $2.5 per $100k
ECN Plus - $1.5 per $100k
ECN Zero - $0 per $100k
Islamic Account - $2.5 per $100k
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 9 PM. The customer support team can be reached in English.
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 Athens, Greece by HCMC (Hellenic Capital Markets Commission), so you don't have to worry about an 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 also regulated by FSCA in South Africa. Being regulated by two major regulatory bodies ensures traders that AAAFx is a reliable broker to trade with.
All the measures we discussed above prove that there is no 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 FSCA
- 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 FSCA. 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.