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AAFX Trading reviews

Discussion in 'Broker Discussion' started by Astirewien, Jun 24, 2019.

  1. Astirewien

    Astirewien

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    I noticed accidentally AAFX Trading broker. I read the reviews on the internet and started to investigate who this broker is. I noticed a few moments, which I didn’t come across earlier.

    The first one – is 1:2000 leverage. I have no clue how to use it. Personally, I use max 1:500, but probably there are some risky traders who need such leverage…

    The second one – they accept US citizens. All I know regarding this matter is that many brokers do now allow US citizens to open accounts because of some legal issues and in the US they have their own brokers.

    So far these two moments are the most questionable for me. I cannot determine for sure whether these are advantages or not? =) I’m ready to hear opinions also about other features they have if somebody is ready to share. I’m not going to open the deposit with them now. I learn everything about the company completely before opening an account. I will try to keep it posted here once I have some progress.
     
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  3. Gravelwood

    Gravelwood

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    I think fully use 1:2000 leverage is a suicide XD. It is like no one is forcing you to use it fully, you can use a security deposit even on 10% or on 1% (this is like you have 1:200 or 1:20 leverage). Simple having such leverage – I don’t know, probably guys from AAFX decide to differentiate somehow. As for me, this is not a pro or a con, it is just there and ok.
    Regarding the cooperation with US citizens, I’m not sure…You are right; they have their own regulators and brokers, which fulfill those requirements. Maybe, AAFX gets the permission somehow, I doubt that they would breach the law and make conflict with American regulator. If you are from the US, you can compare the conditions of local brokers and AAFX, and see who offers more beneficial conditions for trading.
    I think that the most interesting part of AAFX Trading is the ability to scalp. Not all the broker allows it, but they declared it on the website, that it is allowed to scalp.
     
  4. Astirewien

    Astirewien

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    No, I’m not from the US, I’m just wondering why they can work with the US citizens when other brokers can’t =) I also think that 1:2000 leverage is something strange, it looks impressive, but it is better not to use it in reality. And scalping – this is interesting, now I’m testing a few strategies, and one of them is based on scalping. I would like to combines two strategies – scalping and medium-term trading, but I’m not sure that this will work. So far, I`m testing this combination on a demo account.
     
  5. Gravelwood

    Gravelwood

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    Scalping is a pretty good option to fulfill the bonus requirements, as it is all connected on spreads, and by scalping, you are constantly paying the spread. Seems like AAFX offers white good bonuses for the first deposit, you can fulfill the requirements and get the withdraw them by scalping pretty fast, the main here is to keep your trading in the black.
     
  6. Chionao

    Chionao

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    I’m planning to open the account with AAFX Trading. I evaluated the information in advance – seems to be a good broker, and all the rest you can check only based on your personal experience...But I’m not sure about the bonuses, should I take them or not... Seems to be a useful thing, some additional income and stuff like that, but you won’t be able to make a withdrawal until you fulfill the bonus requirements. To be more precise, you can but in this case, you will have to refuse from the bonus, at least this is how It was explained to me. So why do I even take it in the first place? This is why I can not make up my mind…
     
  7. Gravelwood

    Gravelwood

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    I would ask it differently: why don’t you take this bonus in any case? You are not losing anything, so in case you will not manage to fulfill the conditions on time you can refuse from it and that’s all. But what if you will manage? Then you will receive additional income with the same investments. As for me, the choice is obvious.
     
  8. Astirewien

    Astirewien

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    As I read this bonus is one of the main advantages of AAFX =) It’s better to take it in any case, of course, if you are going to deposit not 100 dollars – then you just won’t get it =)
     
  9. Chionao

    Chionao

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    Well, yes, generally I understand that it doesn’t oblige you to anything. Just some people write, that they were trading, closing deals in 0 just to raise the trading volume and to fulfill the bonus requirements faster, and then they had to do the withdrawal earlier than expected, and the bonus just burns so it turns out to be that it was no sense to trade in 0. But in general, I agree, it is better to take the bonus and forget about it rather than just to refuse from it.
     
  10. Gravelwood

    Gravelwood

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    Well yes, you are writing everything right, that you just need to forget about the bonus and get back to normal trading. It’s not right to close the deals without the profit to fullfill the bonus requirements. The bonus itself doesn’t bring any danger.
     
  11. Astirewien

    Astirewien

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    Chionao, what have you finally decide? Are you trading already with AAFX? Did you take the bonus eventually? I’m wandering to here your internal opinion because I’m also thinking about starting to work with AAFX.
     
  12. Chionao

    Chionao

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    I registered and already opened a real account! I took a bonus as I wrote, I’m just not going to pay attention to it, let it slowly fulfill the requirements by itself :)
    Actually, the impression is good. At the moment I’m mostly trading on a demo, I opened just a few deals on the real account just to check. I personally didn’t notice any significant differences in execution or charts between real and demo account, everything is identical. Actually, the execution is on top, the deals are opening instantly, and spread is changing minimally, I haven’t noticed any kind of volatility jumps.
     
  13. Astirewien

    Astirewien

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    Ok, thanks for the information, I also want to create account. I don’t know if it makes sense to make a deposit right away, actually I want to train on the demo just to start with, I still need to master my strategy…so I will act based on the case.
     
  14. Astirewien

    Astirewien

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    Hey guys, little update here. Remember I said that I consider running both scalping and mid-term strategies with AAFX? There is one problem that you must know of before you open live-trading account. The issue is that you can not close any trade earlier than 60 seconds after opening this position. It is stated on AAFX website. Personally I don’t really care that much, because even my scalping strategies normally give about 5-10 minutes to complete the whole round. But it definitely sets some difficulties to those people who simply want to fulfill the bonus turnover requirement to get “free” money.
     
  15. Gravelwood

    Gravelwood

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    Good to know. I just wonder how exactly they explain this rule. It looks like it is set in order to avoid turnover cheating (if it can be called so) that we’ve been discussing earlier.
     
  16. Marim

    Marim

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    Hello everyone. Gravelwood, I was wondering the same question and asked support. They confirmed the 60 seconds rule is applicable and explained this so:
    “This rule is set by the bank.”
     
  17. Astirewien

    Astirewien

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    Thanks for finding out more information! Not that it helps a lot, but still nice that you’ve bothered. BTW, did you notice how fast is their support? This is something I really like about AAFX. Any question gets the answer in seconds.
     
  18. Gravelwood

    Gravelwood

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    Hahaha, what else could they say apart from “set by the bank”. I used to work with people complaints a lot, and my boss always said: “Blame the third party” :) Anyway, in this particular case I can’t blame AAFX for blaming the bank. You don’t often see a broker who offers a withdrawable bonus. If the fulfillment of all the requirements to get that bonus were to easy, the company would be broke in less than a month.
     
  19. Astirewien

    Astirewien

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    I agree. Bonuses are just a part of the marketing campaign. AAFX made bonuses extremely attractive because they can be withdrawn under certain conditions, but overall this requirement is unfulfillable for small deposits. With $100 initial investment you can fulfill it using the leverage in full, which is definitely not worth it. Losing 100% of your capital trying to get 25-30% bonus is a bad, bad reward:risk strategy.
     
  20. Gravelwood

    Gravelwood

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    Good point! So have you opened your live-account already?
     
  21. Astirewien

    Astirewien

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    Yes, I have. I use variable spreads on ECN account. The minimum deposit for ECN is still $100 (I’ve invested a bit more than that anyway) So far so good. I’m running two of the strategies. Daytrading (I would say its scalping, but many people consider only traders under 1-5 minutes duration to be scalp trades so I’m calling it daytrading now) on currency pairs and I also trade some CFDs overnight.