AAAFx Review |
|
| 📅 Year founded |
2007 |
| 📈 Multiple top-tier regulation |
Yes |
| 📍 Headquarters |
Piraeus, Greece |
| 🌍 Country of regulation |
Greece / South Africa |
| ✅ Regulators |
HCMC / FSCA |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
$50 USD |
| 🛡️ Negative Balance Protection |
Yes |
| 📉 Trading Platforms |
MetaTrader4 / MetaTrader5 / ZTP / Act Trader |
| ☪ Islamic account |
Yes |
| 📉 Trading Instruments |
Forex / Indices / Commodities / Stocks / Cryptocurrencies |
| 📱 Mobile trading |
iOS / Android / Windows |
| 💳 Payment Types Accepted |
Debit and Credit Cards / Bank Wire Transfer / Skrill / Neteller / Sticpay / Pay Retailer / FairPay / help2pay / Cryptocurrencies |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
Yes |
| 🎁 Bonus Offer |
100% Deposit Bonus (min, of $100 USD) |
| 💰 Account Currencies |
USD / EUR / CAD / AUD |
| 📈 Minimum Trade |
0.01 Lots |
| 📈 Account Types |
ECN / STP |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
None |
| 💰 Withdrawal fee |
None |
| ☎ Customer Support |
24/7 |
| 💰 Max. Leverage |
500:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
Low, account dependant |
| 💰 Spreads |
From 0.0 pips |
| 💰 Leverage |
Flexible |
| 💰 Currency Pairs (Total Forex pairs) |
56 + |
| 🔢 Number of clients |
Unknown |
| 🥇 Instruments Offered |
400 + |
| 📙 Education |
FAQ / Trading Signals / Social Trading |
WHAT IS AAAFX?
AAAFx is a global forex and CFD broker that offers a wide range of trading instruments including forex, indices, stocks, commodities and cryptocurrencies. Established to provide traders with direct access to the financial markets, AAAFx is known for its integration with ZuluTrade, one of the leading social trading platforms.
INTRODUCTION
AAAFx was founded in 2007 and has gained a reputation as an outstanding broker in the trading industry. The broker’s head office is located in Piraeus, Greece and is regulated by the HCMC in Greece, as well as the FSCA in South Africa.
AAAFx offers its traders a range of trading platforms, including MetaTrader4, MetaTrader5, Act Trader and ZTP, showcasing their commitment to cater to all their clients.
Before diving further into this review on AAAFx, we take a look at the pros and cons of this broker, to gain a better understanding of their offering.
PROS & CONS
PROS
- Comprehensive integration with ZuluTrade for social and copy trading.
- A broad selection of trading instruments.
- Competitive spreads and low commissions.
- A wide range of trading accounts and trading platforms.
CONS
- Limited educational resources for beginners.
TRADING INSTRUMENTS
AAAFx caters to a wide range of traders by offering a diverse selection of trading instruments, each with its own unique features and market dynamics. Here’s a closer look at each instrument offered by the broker.
Forex
Forex trading, the cornerstone of AAAFx’s offerings, involves the exchange of one currency for another. With access to over 56 currency pairs, traders can take advantage of the 24/5 market, leveraging the liquidity and volatility to potentially generate profits.
AAAFx provides competitive spreads and leverage options, allowing traders to maximise their strategy effectiveness whether in scalping, day trading or swing trading. Spreads with this broker can start from as low as 0.0 pips, making it one of the best offerings in the industry.
Indices
Indices trading through AAAFx offers a way to gain exposure to a segment of the financial market without needing to analyse and invest in individual stocks. By trading on the movement of indices like the S&P 500, FTSE 100 or Nikkei 225, traders can speculate on the overall direction of stock markets.
With AAAFx, traders have access to 11 different indices across the globe, making diversification of investment portfolios easy and accessible.
Stocks
AAAFx provides access to a wide range of global stocks, allowing traders to buy and sell shares of leading companies. The broker provides access to over 320 stocks listed on exchanges across the globe, meaning traders are never short of options.
Commodities
Commodities form a strong part of AAAFx’s offering, with 7 commodities to choose from. This ranges from precious metals such as gold and silver to oil.
The broker gives traders the option to trade gold and silver against currency pairs like the AUD, which is not a common pairing in the trading industry.
Cryptocurrencies
AAAFx provides a secure platform for trading cryptocurrencies, allowing traders to take advantage of market movements without needing to own the underlying assets directly. While the broker offers popular pairs such as Bitcoin and Ethereum, their range of cryptocurrencies is currently limited but hopefully this improves in the future.
TRADING PLATFORMS
AAAFx offers its clients a wide range of trading platforms to make use of, including MetaTrader4, MetaTrader5, Act Trader and ZTP.
MetaTrader4 (MT4)
MT4 remains one of the most popular trading platforms in the forex and CFD trading community, known for its user-friendly interface, reliability and comprehensive analytical tools. It is favoured by beginners and experienced traders alike for:
- Advanced charting tools with a vast array of charting options, time frames and analytical tools to help traders make informed decisions.
- Expert Advisors (EAs) which allows for the use of automated trading robots to execute trades based on predefined criteria, enabling both back testing and live trading strategies.
- Traders can create their own custom indicators and scripts to tailor the platform to their trading needs and preferences.
- MT4 supports multiple languages, making it accessible to a global user base.
MetaTrader5 (MT5)
MT5 is the successor to MT4, offering all the beloved features of its predecessor with added functionalities and expanded possibilities for traders. Key enhancements include:
- More time frames and technical indicators, providing an extended list of time frames and technical indicators, giving traders more detailed analysis options.
- An economic calendar which is integrated directly into the platform, offering traders insight into market-moving events as they happen.
- Enhanced order management capabilities, including additional order types and execution modes, improving trade execution and management.
Act Trader
Act Trader is a lesser known and offered platform that focuses on versatility and customisation. It caters to traders looking for a personalised trading experience with features as follows:
- A customisable workspace where traders can tailor the trading environment to their preferences, including layout and frequently used tools.
- Strategy development tools which offers advanced tools for creating, testing and implementing trading strategies without requiring extensive programming knowledge.
- Like MT5, Act Trader supports trading across various markets, including forex, futures and CFDs, with a single account.
- Act Trader provides comprehensive tools to manage and monitor risk effectively across all trades.
ZTP (ZuluTrade Platform)
ZTP is an innovative platform designed specifically for social trading and copy trading. It offers the following benefits:
- Enables traders to follow and copy the trades of successful traders within the ZTP community.
- Traders can analyse the performance of signal providers with detailed statistics and history to make informed decisions.
- Offers the ability to automate trading by copying the strategies of other traders, suitable for both novice and experienced traders looking for passive trading opportunities.
- Provides advanced charting capabilities and indicators for those who wish to combine social trading with their own analysis.
AAAFx provides a comprehensive suite of trading platforms, each with its unique set of tools and features catering to the varied needs of the trading community.
Whether a trader prefers the classic and widely used MT4, the advanced functionalities of MT5, the customisation capabilities of ActTrader, or the social and copy trading opportunities of ZTP, AAAFx offers a platform that can accommodate their trading style and strategy.
ACCOUNT TYPES
AAAFx caters to the varying needs and preferences of its clientele by offering different account types including ECN, Zero, VIP, Islamic and US Cent accounts. AAAFx aims to accommodate a broad spectrum of traders, from beginners to professionals as well as retail and institutional investors.
ECN Account
Traders have direct access to other participants in the forex market, enabling them to enjoy the best possible spreads and execution speeds. This account type requires a minimum deposit of $50 USD with leverage of up to 500:1 available to traders.
The ECN Account offers raw spreads, starting from 0.0 pips and offers low commission charges starting from $2.50 USD per $100 000 USD traded.
Zero Account
The Zero Account does not charge commissions on trades relating to forex, indices or commodities and offers spreads starting from 0.3 pips. This is a unique, affordable account option, offering similar features to the ECN Account.
VIP Account
The VIP Account offers reduced commission charges starting from only $1 USD per $100 000 USD traded. For access to the VIP Account, traders need to deposit $5 000 USD to get started.
Islamic Account
The Islamic / Swap-Free Accounts enjoy similar features to the ECN Account mentioned above, however, they offer swap-free options in compliance with the Islamic faith. This account has base currencies of only USD and EUR.
US Cent Account
The US Cent Account enjoys similar features to the ECN Account, however, the base currency is valued in cents, meaning that traders can place trades without having to risk large amounts of their capital. This account is ideal for new traders, or traders looking to test new strategies.
HOW TO OPEN AN ACCOUNT
AAAFx prides itself in providing a swift account opening process, whereby traders can expect to place their first trades within 15 minutes of registering with the broker.
After registration, the broker requires you to complete a questionnaire, comply with their KYC requirements and to fund your account whereafter you can start trading.
DEMO ACCOUNT
The broker provides demo accounts to their clients, which is helpful to test out the trading conditions offered by AAAFx before deciding to deposit funds and use them as a broker.
Additionally, the demo account allows new traders to experience market conditions and practice before moving on to a live funded account.
SOCIAL TRADING AND COPY TRADING
Social trading via ZTP at AAAFx allows traders to connect, interact and share strategies with a global community of traders.
This feature enables users to follow others within the platform, observe their trading activities in real-time and engage in discussions to gain insights into various trading methodologies.
Copy trading is a core component of AAAFx’s offerings, particularly through its integration with ZTP, one of the world’s leading social trading platforms. This service enables traders to automatically copy the trades of selected professionals directly into their own trading accounts.
Traders can choose from a vast array of signal providers on ZTP, based on performance metrics, trading style, risk management strategies and more.
Once a signal provider is selected, their trades are automatically mirrored in the follower’s account, making it possible to benefit from the trading expertise of seasoned traders without the need to be actively managing trades.
COMMISSIONS AND FEES
The broker offers competitive fees and commissions to its customers, with commissions on the ECN Account starting from just $2.50 USD per $100 000 USD traded. The Zero Account charges no commissions, while the VIP Account charges commissions from $1 USD per $100 000 USD traded.
The Islamic / Swap-Free and US Cent Accounts also charge commissions at $2.50 USD per $100 000 traded, like the ECN Account.
Additionally, AAAFx charge no withdrawal, deposit or inactivity fees, making this one of the most transparent and cost effective brokers in the industry.
LEVERAGE
Leverage is available to traders and can be utilised up to 500:1. The leverage option with AAAFx is flexible and can easily be changed anytime on your trade account settings.
Before using leverage, traders should always be aware of the potential risks associated therewith but they can be safe in the knowledge that AAAFx provides negative balance protection as a way to mitigate such risks.
WITHDRAWALS AND DEPOSITS
As mentioned in the Commissions and Fees section, this broker does not charge any fees on deposits or withdrawals although third party financial institutions may charge transactional fees.
The broker has a variety of withdrawal and deposit methods available to traders, including bank wire transfers, various e-wallets and a range of cryptocurrencies.
CUSTOMER SERVICE
AAAFx has outstanding customer service which can be contacted via live chat, email or by requesting a call back. The live chat feature is available 24/5 while any other queries can be submitted 24/7.
The broker offers customer service in a variety of different languages, to cater for their clients from over 176 countries around the globe.
SAFETY AND SECURITY
Being regulated by significant financial authorities like the Hellenic Capital Market Commission (HCMC) in Greece and the Financial Sector Conduct Authority (FSCA) in South Africa, enhances AAAFx’s credibility and demonstrates its commitment to adhering to stringent financial standards and practices.
Regulation by HCMC
As a member of the European Union, regulation by the HCMC means that AAAFx complies with the EU’s stringent financial regulations, including the Markets in Financial Instruments Directive (MiFID) and the
Markets in Financial Instruments Regulation (MiFIR). These regulations ensure transparency, fair trading practices and the protection of traders and investors.
AAAFx is required to adhere to strict guidelines regarding client funds, including keeping them in segregated accounts separate from the company’s operating funds. This segregation ensures that client assets are protected, even in the unlikely event of the broker’s insolvency.
Being regulated by the HCMC also subjects AAAFx to regular audits, ensuring compliance with financial reporting and operational standards.
Regulation by FSCA
Regulation by the FSCA underlines AAAFx’s commitment to maintaining high standards of financial integrity and operational conduct within South Africa and beyond. The FSCA’s oversight ensures that AAAFx upholds fair treatment of clients and operates with transparency.
The FSCA mandates financial service providers to put in place measures that protect investors from undue risks, ensuring that they are treated fairly and that their investments are secure.
Adherence to FSCA regulations means that AAAFx complies with all local financial laws and regulations, contributing to its credibility as a trustworthy broker in the global market.
Additional safety and security measures
In addition to regulatory compliance, AAAFx implements several safety and security measures to protect its clients:
- Advanced Encryption Technology: The use of SSL (Secure Socket Layer) encryption technology ensures that all data transmission between clients’ devices and AAAFx’s servers is secure, protecting sensitive information from unauthorised access.
- Segregated Client Funds: The broker keeps client funds segregated from their own, meaning client funds are protected in the unlikely case of the broker’s insolvency.
- Anti-Money Laundering (AML) Policies: AAAFx adheres to strict AML procedures to prevent financial crimes. This includes rigorous client identification and verification processes, monitoring of transactions and reporting suspicious activities to relevant authorities.
PROMOTIONS
The broker offers a 100% deposit bonus for new traders who sign up with them, requiring a minimum deposit of only $100 USD. This means that if a new trader deposits $100 USD, AAAFx matches that equity and your trading account would thus have $200 USD available to be traded.
In addition to this, the broker also offers free VPS Hosting for all their traders.
RESEARCH
The research tools available from AAAFx are slightly lacking, with only an economic calendar being provided by the broker. Other brokers often provide daily market insights or analysis to their clients.
However, by providing the various MT4, MT5, Act Trader and ZTP platforms, the broker allows clients to access and utilise the wide range of research tools available on those platforms.
EDUCATION
This is an area where the broker can certainly improve as there are currently no educational tools available on their website.
They do however, provide trading signals through the ZTP platform, which can be utilised by new traders to study and learn from the trades of professionals.
GLOBAL AWARDS
AAAFx has received numerus awards over the years, highlighting their dedication to their customers and and recognising the superb trading conditions offered by the broker. Some of their recent awards include:
- Broker of the Year (2023) – UF AWARDS Global.
- Best Forex Spreads Africa (2023) – Fintech.
- Best CFD Broker – APAC (2023) – UF AWARDS APAC.
- Best CFD Broker – MEA (2023) – UF AWARDS MEA.
SAFE OR SCAM?
AAAFx’s regulation by reputable financial authorities, the HCMC in Greece and the FSCA in South Africa, significantly bolsters its credibility as a broker.
These regulatory bodies are known for their strict financial standards and oversight, ensuring that regulated entities adhere to practices that protect investors’ interests and promote market integrity.
Compliance with such regulations indicates that AAAFx is committed to upholding high ethical and operational standards, reducing the risk of fraudulent activities.
AAAFx implements several advanced safety measures to secure clients’ funds and personal information. The use of segregated accounts ensures that clients’ funds are kept separate from the broker’s operating funds, offering protection against misuse and enhancing financial security.
Additionally, the deployment of SSL encryption and the encouragement of two-factor authentication for account access provide layers of security against data breaches and unauthorised account activities.
AAAFx’s transparent operational practices, including clear communication of terms and conditions, fee structures and trading conditions, further alleviate concerns over its legitimacy. The broker’s commitment to fair treatment of clients and the provision of risk management tools align with industry best practices, suggesting a customer-centric approach.
Considering AAAFx’s regulatory oversight by the HCMC and FSCA, its comprehensive safety and security measures and its transparent operational practices, there is substantial evidence to categorise AAAFx as a safe and legitimate broker.
CONCLUSION
After conducting the above review, it is clear that AAAFx is a safe, reputable and reliable broker, that offers its clients a robust and secure trading environment. They offer a variety of withdrawal and deposit methods, without charging fees thereon, making AAAFx accessible to all traders.
Additionally, the broker offers low commissions in comparison to the rest of the trading industry and offers their traders tight spreads, resulting in fantastic trading conditions.
With the multitude of research and educational tools available today, we believe AAAFx’s lack of those tools should not be a deterrent to any traders as their superb trading conditions cannot be understated.
The team at Brokersuggest.com highly recommends AAAFx as a superb broker, where traders have every opportunity to flourish.
