AAFX Trading Review – Why Is AAFX Trading Just Another Trading Scam?
Broker status
|
Regulated |
Regulated by
|
FSA – St Vincent and the Grenadines |
Scammers Websites
|
aafxtrading.com |
Blacklisted as a Scam by
|
N/A |
Owned by
|
N/A |
Headquarters Country
|
Saint Vincent and the Grenadines |
Foundation year
|
2014 |
Supported Platforms
|
MT4, MT5 |
Minimum Deposit
|
$100 |
Cryptocurrencies
|
N/A |
Types of Assets
|
N/A |
Maximum Leverage
|
1:2000 |
Free Demo Account
|
N/A |
Security and Regulation
AAFX Trading, a broker that is owned by AAFXTrading Company LTD and based in Saint Vincent-the Grenadines, is AAFX Trading. A license has been issued by FSASVG to this broker, which many people mistake for Japan’s FSA. They claim to also have an office in Malaysia, under the name of AA business solution SDN BHD. This is a fake company registered in Malaysia’s data register. It has no address nor phone number. They also claimed that they had a Hong Kong office under the name AAFX Trading Capital. This was unregulated. We consider AAFX broker to be untrustworthy because of this.
AAFX Trade Warnings
Some regulatory bodies have issued warnings about AAFX Trading due to its illegal activities. The Hong Kong SFC, for example, listed the broker as fraudulent and unregulated.They claimed that the company doesn’t have an office in the region and is swindling people from Asia.
The US CFTC also warned us that AAFX Trading was not a legitimate broker and advised US citizens to avoid trading with it.This broker was added to the CFTC’s red list.
The company is also listed on Japan’s blacklist.
In what countries does this broker operate?
AAFX broker operates in all countries without restrictions. They don’t have regulations for many areas, so there are many warnings about them. If they don’t comply with regulations, an offshore regulation will not permit them to operate on any country’s soil. It seems that the company doesn’t pay much attention to this. We strongly recommend that you decline any offer from AAFX.
What are the trades you can make with AAFX brokers?
The broker allows clients to trade with currencies (62 pairs), shares, commodities, indicies and cryptos. Clients have the option to trade on both MT4 or MT5 trading platforms. AAFX broker provides high leverage, up to 1:2000. Less leverage is offered for accounts that are larger than $20,000. You can get 1:1000 leverage up to $20k, then it drops to 1:500.
A client can deposit as little as 100 USD/EUR. You can deposit via debit/credit cards or E-wallet. Certain bonuses are offered by the company for deposits.
You can withdraw the same way as the client has deposited. The minimum withdrawal amount is 100 USD/EUR.
AAFX broker offers a Demo account, Live account, and a Swap-free Islamic Account.
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What is a chargeback?
Chargebacks are a way for your bank to recover funds from the merchant. We recommend that you contact us immediately to begin the process. We will have a free consultation to discuss how we can recover your money right away!
AAFX Trading: Video
Below you will find a short video about AAFX Trading. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about AAFX Trading!
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Copywriter with more than 10 years of experience. Wrote analytical content for one of the largest forex brokers in the world. Works as an editor-in-chief at assistance-refund.com
FacebookFAQ
- Is AAFX a good broker?
AAFX Trading is an offshore broker with many warnings against them. Based on that, we can say that the broker is not safe.
- Is AAFX Trading regulated?
Yes, this broker does have an offshore regulation from FSA St Vincent and the Grenadines. However, this regulation is very weak, and we do not recommend trading with such a broker.
- How Online Trading Scams Work?
The most common online trading scam is to show profitable trades to give investors a false sense confidence and lure them to the idea that 'easy money'. Once the investor has gained confidence, they will be sold the idea of investing more money in order to make higher returns. Other incentives might also be offered to encourage investors to invite their family and friends to join the platform.
- Scammed by AAFX Trading? What to do?
Everyone can make a mistake. If you were involved with this broker, and cannot get your money back, we can help you.
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