Last update: 21 July 2020
5 min read
Non-recommended broker
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AFM review

21 July 2020

AFM is currently closed but we can recommend these brokers.

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AFM Forex specialises in online investments, negotiations and training in the international financial market via online trading platforms. Thanks to their high quality services, AFM has a high client growth rate and have engaged and committed themselves to offering their service to clients across many countries. Established in 2006 by a team of financial specialists, AFM Forex blends innovative technology with security of client data ensuring excellent handling, control and execution of systems in real time. AFM Forex’s goal is to offer clients advanced and reliable access to the foreign currency exchange market with efficient and speedy trading conditions. Their range of financial products is extensive and includes indices, Forex, CFDs, commodities and options, all without any commissions or fees and benefiting from customised assistance.










Forex, Metals, Commodities, Indices

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AFM Forex offers the following features to its clients:

  • Low spreads from 0.5 pips
  • No commission
  • Hedging capabilities
  • Leverages of up to 1:500
  • No requote guarantee
  • MT4 Expert Advisor compatible
  • Automated trading
  • Corporate and individual services
  • Registered broker
  • Capital gains tax exempt
  • No cost for bank transfers
  • Over 30 currency pairs for trading
  • Choice of currencies for accounts: GBP, USD, CHF, EUR
  • Multiple account management systems
  • Free resources
  • 24 hour reporting capability
  • Guaranteed limited risk system with trailing stop, limit orders and stop
  • Guaranteed orders and instant execution
  • Advanced trading software

AFM Forex Account Types

AFM Forex offer two different account types to suit a range of investors. These include:

Mini Forex Account
The Mini Forex account is tailored to the needs of those who are interested in investing in the foreign currency market as well as exotic financial products. The features of this account include:

  • Minimum initial deposit of $300
  • Low spreads starting at 2 pips
  • No commission
  • Leverage offered up to 1:500/$20 per lot
  • Lot size of 10K

Applying for a Mini account is easy and can be completed through the online registration procedure or submitted via fax.

Standard Forex Account
Designed to meet the needs of more experienced investors, the Standard Forex Account offers excellent services and performance with instant and automatic trade executions. The features of this account includes:

  • Minimum initial deposit of $2000
  • Low spreads starting at 1 pip
  • No commission
  • Leverage offered up to 1:200/$250 per lot
  • Lot size of 100K
  • Capital gains tax exempt

Demo Account
It is also possible to open a free demo account which allows potential clients to experiment with the trading platform and a range of strategies before risking their own funds. The features of the demo account include:

  • Real time currency prices
  • Free charts and Forex news
  • Free market reports
  • Free Forex trading signals
  • Expert Advisor trading compatible
  • Free online trading education resources

Features and Tools of the AFM Forex Broker

man with laptopAFM offer over 300 assets with which to participate in trading and use the popular and high quality MetaTrader 4 trading platform which is well known across the industry for its ease of use, customisability and excellent technical and analytical tools that facilitate trading. The MT4 trading platform is user-friendly and ensures safe and secure, rapid execution of trades for both novices and experienced investors alike. ADM also offers many other helpful tools and features to improve the client’s trading experience including:

  • Online free currency converter
  • Financial calendar
  • Educational resources including Forex guides

The Education section of the website is especially helpful and gives extensive detail to newcomers to the Forex market about the basics of trading, explaining all of the key terms and offering useful advice about how to get started with placing the first few trades.

Banking Options and Customer Contact Options

AFM Forex offers several different banking options to fund live trading accounts in order to accommodate the needs of the majority of clients. There are three choices to select from to suit those who prefer traditional methods as well as those who like the more modern e-Wallet options. Clients can deposit funds into their account via bank wire transfer, credit card or by PayPal and withdrawals can be made via any of these methods too for the ultimate in convenience for the client. It is quick and easy to both pay deposits into accounts and to withdraw funds.

When choosing a Forex broker, it is always important to be sure that you can contact their customer support team in order to address any concerns or issues that you may have. The AFM Forex customer service team aim to respond to any questions or queries within 24 to 48 hours and general enquiries can be submitted to the support team via the online web form which can be accessed and completed through the website. There is also a convenient live chat facility which can be accessed through the home page when an urgent enquiry requires addressing. AFM Forex also has a social media presence on all of the primary channels including YouTube, Facebook, LinkedIn and Twitter.

While there are several benefits to choosing AFM Forex as your broker of choice, there are also a number of disadvantages too. Investors will be pleased to note that there is a choice of two different account types to accommodate the needs of both professional traders and less experienced investors and the range of products available for trading is also impressive. The helpful educational resources are also an added bonus, especially for beginner traders who will value the advice and explanation offered by this provider. However the limited payment options available for both deposit and withdrawal could prove to be a drawback to those who value a lot of choice when it comes to banking methods, and the limited means of contacting the customer support team could also prove off-putting to those traders who want to be certain of rapid and efficient access to help whenever it is required.

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