Read our in-depth review about AAFX Trading broker and find out everything about this online broker. Is it regulated? Where is it based? Why does it have so many negative reviews? Let’s see!
|Broker status:||Regulated Broker|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||MT4, MT5|
|Types of Assets:||Forex, Commodities, Shares, Indicies, Crypto|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
AAFX Trading Regulation and Security
AAFX Trading broker is a brand owned by AAFXTrading Company Ltd, based in Saint Vincent and the Grenadines. The broker has the license by FSA from Saint Vincent and the Grenadines. Also, on the website of the broker is listed the office in Malaysia, under the name AA business solution SDN BHD.
However, our review showed that this is a fictive company without an address or any contact details. Allegedly, the broker has another office in Hong Kong under the name AAFX Trading Capital, which is listed as unregulated by the Hong Kong authority body.
Warnings From Financial Regulators
The broker has many financial warnings against it. Why? Well, looks like many clients had issues with withdrawing funds. That is always a problem when trading with an offshore broker. AAFX Trading regulation is coming from FSASVG, which is an issue when you are trying to withdraw your money.
We found a warning from the US CFTC also saying that AAFX Trading is not a legit broker, and warning US citizens not to trade with it. CFTC put this broker on their scam brokers list.
The company is also on Japan’s blacklist, and as we already mentioned, Hong Kong’s SFC issued a warning stating that the company does not have permission to operate in their area.
AAFX Trading Trading Platform
The AAFX Trading trading platforms are MT4 and MT5.
On this platform, the broker offers several account types – Live, Demo, and Swap-free account. The live account is available in ECN and Standard version. The leverage on these accounts goes from 1:10 to 1:2000. This is unusually high leverage since every broker regulated by a top-tier regulatory body can have leverage up to 1:100. In order to get the leverage of 1:2000, the client needs to deposit at least 20,000$.
The platform is available in mobile and web versions, and for all devices – Windows, Mac, iOS, Android. It has over 50 technical indicators and charts. Also, it has some third-party tools that you need to pay for if you want to use. Also, the platform is available in several different languages.
Since the website of the broker is not functioning, we couldn’t test the platform and verify the quality. However, there are many reviews by the clients, as well as regulatory body warnings, that are showing who this broker is.
What can you trade with this broker?
This broker offers its clients trading with currencies (62 pairs), commodities, shares, indicies, and cryptos.
The AAFX Trading minimum deposit a client can make is 100 USD/EUR. The deposit can be done via debit/credit card and E-wallet. The company is providing certain bonuses for deposits.
Withdrawals can be done the same way the client deposited, and the minimum withdrawal is also 100 USD/EUR. The broker offers a bonus of 30-50% for deposits, depending on the amount.
When it comes to the commission for deposits and withdrawals, the broker remains untransparent. Looks like the idea is to deposit and find out.
Scammed by AAFX Trading broker? What to do?
If you were scammed by AAFX Trading, there is a solution. First of all, you are not the only victim of AAFX Trading scam. There is a solution to get your money back!
You need to file a dispute and request a chargeback. Do not let this scam broker get away for free, contact us for help immediately!
Don’t let the scammers go away for free!
What is AAFX Trading?
AAFX Trading is an online trading broker that is operating with an offshore FSA regulation from Saint Vincent and the Grenadines.
Is AAFX Trading regulated?
AAFX Trading broker has regulation by FSA from Saint Vincent and the Grenadines. It’s an offshore regulation that is not as trustworthy as FCA or ASIC.
Is my money safe with the AAFX Trading broker?
Since AAFX Trading has an offshore regulation and several regulatory warnings, we can say that your money is not safe with this broker.