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AAAFx is a global forex and cryptocurrency broker that offers automated and copy trading services. This review looks at the various services available, such as spreads, demo accounts, and commissions. We’ll also go over AAAFx’s registration and login procedures, as well as the required minimum deposits.
AAAFx was established in 2008 and is based in Greece. Since then, the EU-regulated broker has opened thousands of real money trading accounts for customers from 176 different countries. Over 70 employees support these traders, including customer service in 11 languages.
There are two platforms available – MetaTrader 4 (MT4) and ZuluTrade. Each has manual and automated trading options.
MT4 is used by traders of all levels of experience. Over 30 technical analysis tools, 50 custom indicators, and nine timeline options are available on the platform. Through the ZuluTrade add-on, it also has automated and social trading capabilities. It’s a fantastically adaptable and user-friendly platform.
The AAAFx website offers a free download of MT4, which is compatible with both Windows and Mac computers.
ZuluTrade is a web-based trading platform that focuses on social and automated trading. Clients can invest in traders from over 190 countries using the platform, which does not require installation. ZuluGuard and Margin Call-o-Meter protect the accounts, limiting losses if traders stick to their usual strategies. ZuluScripts also offers algorithmic trading, which allows users to make trades by writing code.
The platform’s only serious flaw is its limited set of analysis and charting tools. As a result, the MT4 platform is better suited to manual traders.
AAAFx offers Forex, Commodities, Stocks and Cryptocurrencies trading:
- 36 currency pairs
- 9 stock indices
- 170 shares of American companies
- 6 commodities including gold, natural gas and crude oil
- 5 cryptocurrencies including Bitcoin, Ripple and Ethereum.
Spreads and commissions are combined in AAAFx’s commission structure. Spreads are competitive; for example, the EUR/USD spread is typically 0.3 pips, while the GBP/USD and EUR/GBP spreads are both 0.7 and 0.5 pips.
A commission is also charged by AAAFx on each trade, with different rates for different account types. The commission for FX trades is $ 2.50 and $ 0.30 for CFDs for MT4 and Profit Sharing accounts. FX trades cost $ 10 and CFD trades cost $ 0.80 for classic accounts using automated trading.
Overall, broker commissions are competitive when comparing AAAFx to Pepperstone or ICMarkets.
AAAFx Credit Leverage
The maximum leverage rates are determined by the customer’s location. Leverage for customers in the European Economic Area (EEA) is capped at 1:30, according to ESMA rules. Major currency pairs have leverage up to 1:30 for these traders, while other forex pairs, as well as gold and major stock indices, have leverage up to 1:20. Commodities and indices can be traded with up to 1:10 leverage, while stock prices for US companies can be leveraged up to 1: 5, and cryptocurrencies can be leveraged up to 1: 2.
AAAFx International has a much higher leverage, with a 1: 500 leverage across all instruments. With that said, for capital over $ 50,000, the leverage is reduced to 1: 200, and all new accounts are opened with the standard 1: 100 leverage. You should contact customer service to increase your leverage.
The MT4 platform is available in a mobile version from AAAFx. The app has nearly all of the features of a desktop programme, but there are fewer customization and analysis options. One-touch trading, visual market information, analytical charts, and multiple order types are still available to mobile users.
A mobile app, which can be installed on both iOS and Android devices, is ideal for traders who don’t want to miss out on market opportunities.
To fill and empty live trading accounts, several payment types are available. Euros, US Dollars, Swiss Francs, and Pounds Sterling may all be used with Visa and MasterCard, as well as RMB Union Pay cards. Bank transfers, Bitcoin, Skrill, Neteller, and six different forms of electronic payments, such as Giropay and QIWI, are all acceptable methods of deposit.
Deposits made using credit cards and Neteller are processed instantaneously, however Bitcoin transactions might take up to 30 minutes to complete. Skrill and electronic payments can take as little as one business day, however bank transfers might take up to two weeks. A deposit fee is assessed, albeit the amount varies depending on the transaction type, and a conversion fee may be assessed if the deposit currency differs from the account currency. A $ 300 deposit is required as a bare minimum.
Withdrawals must be made in the same way as deposits were made. When using credit cards, withdrawals are free, however the broker charges a $ 25 withdrawal fee for all other methods. Although payment providers may have their own processing times, AAAFx processes withdrawals within one business day.
Demo Account AAAFx
Traders can try the MT4 and ZuluTrade platforms using a demo account provided by the broker. Demo accounts, which are paid with false money but use real-time market data, allow you to test trading techniques, chart styles, and analytical tools in a safe environment.
However, the broker’s demo accounts are subject to restrictions, since inactivity for 14 days will result in the account being terminated. The AAAFx ZuluTrade demo account is also only good for 30 days.
Regulation and licensing
The Greek Capital Markets Commission (HCMC) has granted AAAFx a licence to provide trading services to clients in the European Economic Area. The broker also follows ESMA guidelines for remuneration and fund segregation. The Greek Guarantee Fund protects European clients with up to € 30,000 in compensation.
The Financial Services Authority (FSA) of Saint Vincent and the Grenadines has granted AAAFx International permission to deliver its services in other nations across the world, with the exception of the United States, China, and a few others. In addition, regardless of account type or location, AAAFx provides negative balance protection to all clients.
When it comes to beneficial extra features, the broker falls short. The absence of training resources will frustrate newcomers. As a result, AAAFx is better suited to experienced traders and those seeking a simple copy trading platform.
AAAFx account types
There are three different sorts of AAAFx accounts that may be established during the registration process. Instruments, spreads, leverage rates, and minimum deposits are all the same across all accounts. Instead, the distinctions are seen in the trading strategies and platforms that are offered.
- MT4 and ZuluTrade
- Forex commission of $ 10
- Manual and social trading
- MT4 only
- Manual trading only
- Forex Commission of USD 2.50
Profit distribution account
- Only ZuluTrade
- Social trading
- Forex Commission of USD 2.50
- $ 30 monthly subscription.
- Performance commission of 25% of profits above the highest previous level
Please note: Islamic-friendly trading conditions may apply to each of the account types.