AAFX Trading is not a broker that will reveal a lot of things about itself. The website is full of details, but one thing is missing — the About Us page. The only thing clients can see is the fact this broker takes pride in its achievements. Well, I hope that those achievements are the best service and proper support for each client, but let’s not guess things. We can see each segment of this broker’s service and know for sure whether there is a solid reason to be proud.
Quality of service
Service quality can include a lot of things. Today, I will focus on Accounts, Platforms, and Education to see if those three things meet my expectations. The first thing I see is three different Account Types (Fixed Account, ECN Account, and VIP Account). I cannot say I am satisfied with that, but if the trading conditions are excellent, I will forgive them for such a small selection.
Some conditions are the same no matter the account. For example, leverage varies from 1:10 to 1:2000 (for deposits from $50 to $20,000) or 1:10 to 1:1000 (for deposits above $20,000), accounts are swap-free and EA is allowed.
When it comes to education, it’s not terrible but it definitely isn’t the best one. You can choose between videos or eBooks, but the topics are the most basic ones — Why to trade Forex, When to trade it, etc.
Speed of response
There is a wide variety of contact methods, which is great. You have an option to send an email, call their phone number that is listed, and use the Live Chat options. Of course, I decided to go with Live Chat and one of the customer representatives gave me an answer in just a couple of minutes. My overall impression is that AAFX Trade provides responsive support, but only five days a week, unfortunately. So, if you need anything on weekends, you will have to wait a bit.
So far, every part of the service was flawless. But, transaction speed ruins the impression. Once you make a withdrawal request, you need to wait 24 hours for approval. This is not bad at all, but when AAFX Trading approves your request, the waiting time is three business days for the process. I don’t mind that either, but to see money on your bank account, you need to wait ten business days, which is a lot.
Another negative thing is withdrawal with Neteller. If they are frequent, you will have to wait for an additional eight to ten business days.
Believe it or not, with this broker you won’t have to pay any commissions. It doesn’t matter what amount you choose to deposit or withdraw, there are no fees for that. Not even processing one. Needless to say, I am very pleased to see that. You won’t find a lot of brokers that offer this option, so I have to give AAFX Trading a big plus.
We came to the part that raises a lot of questions. AAFX Trading claims to have a license and according to the things this broker says on the website, it is incorporated and regulated in Saint Vincent and the Grenadines.
The problem appeared when I went to the official website of the Financial Services Authority of St. Vincent and the Grenades and checked the list of licensed institutions. Guess what, AAFX Trading is nowhere on that list. This means that the broker is lying about the license and that is unacceptable.
Variety of payment methods
For the end of this AAFX Trading review, I saved the payment methods. You can use a Credit Card (Visa or MasterCard), Bitcoin, Skrill, Neteller, FasaPay, WebMoney, and SticPay. The selection is excellent, but if you use third party deposits, this broker will charge you a 3% penalty.
Although the selection is perfect, there is one thing I find questionable. On the website, this broker specified that delays can happen often. If they happen, it’s not the responsibility of AAFX Trading and each client should keep additional funds on the account always.