AAAFX Broker Review
Founded in 2008, AAAFX has its base in Athens, Greece and employs over 80 people, having opened thousands of accounts over the last few years belonging to clients from 176 countries around the globe. This broker has a strong customer focus and offers live customer support in ten different languages. Their focus is on providing an excellent and reliable trading experience, being regulated within Europe for the customer’s peace of mind. Offering trading options across several instruments including CFDs, binary options and Forex, AAAFX offers advanced mobile apps and trading platforms as well as integrated with the biggest social trading network Zulutrade. Their commissions are low and they also support Islamic accounts. There is only one level of account available through AAAFX which is designed to simplify the process and to accommodate all traders from the beginner up to the most experienced. It is possible, however, to open a demonstration account for free in order to test the trading platform and to experiment with a variety of trading strategies before taking any risk with personal funds.
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Platforms Offered by AAAFX
AAAFX offers several different options of state of the art trading platform for its clients including:
Offering a web based trading station for CFD and Forex manual trading, this platform gives clients the chance to use indicators and technical charts that can be tailored for individual trading requirements. Trading robots can also be used and accounts are protected against any connectivity issues.
MT4 is one of the most popular trading platforms across the industry as it can provide the client with the vital resources and tools necessary to analyse the market and to improve their trading performance. With its user friendly interface, traders of all levels of ability can access the flexible trading system, advanced technical analysis, Expert Advisors, mobile applications and algorithmic trading. The smallest available trade size is 1000 units and trailing stop is enabled by default. The MT4 platform comes with or without ZuluTrade and must be installed onto a PC.
Binary Options WebTrader
For traders who want to trade binary options, this web based platform requires no downloads and has a user-friendly, customisable interface which allows for trading of assets like Forex, commodities and indices.
The biggest Social Trading Platform, ZuluTrade offers a network of experienced traders from across 192 different countries whose trades can be followed and copied. Clients with this account type can manage their own account and benefit from advanced risk management features. With no need for any downloads, this auto-trading platform allows for a simple trading experience and is compatible with all of AAAFX’s trading platforms.
Allowing investors to trade at any time and in any place, the AAAFX mobile application allows full access to live accounts and the financial markets from a mobile device. Offering seamless integration, orders can be placed through handheld devices, deposits can be made and personal documents can be uploaded with ease. The trading environment has been specially designed for mobile usage and allows for full integration with ZuluTrade as well as live chat facilities in 10 different languages. The MT4 app for mobiles is compatible with both Android and iOS devices and offers 30 technical indicators, high performance charts, access to trading history and financial market news.
Banking Options, Withdrawal and Deposit Methods
Deposits can be made via several methods including:
- Instant Deposit – up to $4000 can be deposited per transaction with $8000 per month being permitted via debit, credit or prepaid card. All major cards are accepted except AMEX and Maestro and Neteller is also permitted.
- Bank wire transfer
Minimum deposit amounts vary depending on the currency chosen:
- USD – $300
- EUR – 250
- GBP – £200
- JPY – 35,000
- AUD – $370
- CHF – 250
- BGN – 500
Withdrawals are quick and easy to action via the website and withdrawals are paid out through the same method as the deposit was made and are generally processed within one working day. There are no fees charged on any withdrawals that are received through instant deposit bank cards however all other withdrawals are charged a flat fee. (Either US$25, 25 Euros, 3000 Yen, $30 AUD, £17, Fr25 or 42 BGN depending on the currency of the account). This amount will be applied to the amount withdrawn.
AAAFX’s Customer Service Centre
AAAFX has a strong customer service support centre which is available to clients 24 hours a day from Monday to Friday. It is also available on Saturdays between 09:00 UTC until 17:00 UTC and on Sundays from 12:00 UTC onwards. Support can be obtained via several methods including via email, and telephone. There are nine different telephone numbers provided for offices around the world so that multilingual support is available for those who speak a wide variety of languages. There is also a convenient live chat facility which is available through the website which enables clients who are experiencing issues or who have an urgent query to obtain a response as quickly as possible.
Overall, there are many things to recommend AAAFX as a broker. Firstly, and perhaps most importantly, it is a regulated broker and can therefore offer the peace of mind to the client that their personal details and financial transactions are all well protected and secure. There are also several different platforms to choose from, catering for the needs of investors who prefer to trade in different styles, from manual traders to those who favour automated trading, and from those who like to trade from their PC to those who want the flexibility of accessing their account on the move. There is a good selection of assets and instruments to choose from and an impressive range of banking methods to appeal to all kinds of investors. The downside is the lack of range of account types, and professional traders may prefer to look elsewhere where they can take advantages of the perks of a VIP account.