Richard Montana | September 20, 2022
AAAFx is an online CFD broker that offers a good choice of over 500+ instruments for trading online via some industry leading platforms, including MetaTrader and ActTrader. I found them to have some very competitive trading conditions including fast execution speeds, zero commission fees, spreads from as low as 0.0 pips and a good variety of account funding options. The minimum deposit requirement is just $10 whilst there is a free demo account if you want to get a feel for the broker before making that commitment. I think they can be worth exploring for anyone who is looking for self-directed investing or copying the signals of other traders.
Pros & Cons
- Great choice of premium trading platforms
- Lightning-fast execution speeds
- Deep liquidity pool for superior pricing
- Raw spreads from 0.0 pips on forex
- Zero commission fees
- Various account types for different trading styles
- Good variety of flexible funding options
- Social trading powered by ZuluTrade
- Free VPS for eligible clients
- Selection of trading calculators
- Free demo accounts available
- Islamic accounts for Muslim traders
- Low $10 minimum deposit
- Multilingual 24/5 customer support desk
- Would like to see some educational materials and more additional trading tools
- Do not serve residents of quite a few countries
- Do not provide 24/7 support
- Demo accounts expire after 30 days
Founded in 2008, a Finvasia group alliance, AAAFx has its headquarters in Greece, and serves traders from 176 countries all over the world. They have more than a decade long history of providing clients with reliable trading services and the resources to help them make informed decisions. The broker aims to provide you with an outstanding trading experience backed by an excellent multilingual customer support team. I would consider them to be a trusted broker who have the technology to server retail and institutional clients who demand nothing but the best.
AAAFx gives you access to trade a decent selection of over 500+ financial instruments including Forex, Indices, Commodities, Stocks and Cryptocurrencies. The broker offers tight spreads and competitive trading fees with multiple payment options available for quick and easy account funding.
I like that they operate as an ECN broker using the Non-Dealing Desk (NDD) brokerage model. This means that your trades go straight through to the market without any broker interference. I find that NDD brokers deliver superior pricing and have minimal slippage. This can be especially important of you are day trading, scalping and automated trading. In this instance, even the smallest price fluctuations can have a big impact on your performance.
The broker also offers social trading via ZuluTrade; a leading social trading platform used by millions of traders from around the world.
One of the most important things for me when it comes to choosing a broker, is the regulation they have, if any. AAAFx is regulated by the Hellenic Capital Market Commission (HCMC); which is the regulatory body in Greece and the FSCA, which is the regulatory body in South Africa. This gives me some peace of mind that they will operate in an honest and transparent manner so that I can trust them with my funds and focus on my trading. I also appreciate that HCMC is MiFID compliant. This enables the broker to operate within the EU region.
Client funds are maintained in segregated bank accounts which are kept in the top-rated European banks. AAAFx cannot use your deposits for its own operations under any circumstances. Your funds are further protected by the insurance provided by the Greek Guarantee Fund which is financed by the Athens Exchange members and supervised by the HCMC. So, if AAAFx goes bankrupt, the Greek Guarantee Fund can pay you a compensation up to a maximum of €30,000. I do however recommend going through the terms and conditions since they’re very specific on who can be eligible for this compensation.
To further secure a trading environment, AAAFx has implemented the Secured Socket Layer (SSL) technology which encrypts all communications between the trader and AAAFx servers. I really appreciate this extra security as it helps to deter cybercriminals and protect the client.
All new clients are made to provide verification documents in order to ascertain their identity. This is in compliance with the Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. To complete the registration process, you will be required to scan and upload your ‘proof of address’ and a ‘proof of identity’. I like this extra security measure as it helps prevent any fraudulent activity.
The broker does not accept clients that are residents of the United States of America (USA), United Kingdom ,Afghanistan, Japan, Iraq, New Zealand, Cuba, Iran, North Korea, Sudan, and Syria. Please note that the above list of countries is subject to change according to regional and international regulations, and as a result is not exhaustive. You can get the latest up to date list directly from the brokers website.
AAAFx ensures to provide a one-stop and the best solution for every trader’s needs with the multiplicity of trading platforms offered. Every platform comes with the basic fundamentals of fastest execution speed, various customizable options, allowing the use of indicators and expert advisers, and the best available market prices. I would personally opt for the MetaTrader 4 platform as I find it to be the easiest to use. I can do everything from analysing the charts to placing and managing positions with minimal hassle. It also has fantastic automated trading capabilities. That being said, each platform can hold its own and be suitable depending on your trading preferences.
MetaTrader 4 (MT4)
The MT4 platform is a very popular choice that has become a standard for many brokers. It is used by millions of traders all over the world. It gives you the opportunity to trade manually or automatically using Expert Advisors (EAs). AAAFx provides the desktop version of the MT4 platform which is downloadable on computers and the mobile versions available as Android and iOS apps. There is also the web version of the platform which can run directly in your browser without needing to download or install any software. I like to use the desktop platform for running my automated systems and conducting complex chart analysis. The mobile app is ideal for checking and managing my positions when I am not at my computer. It can be a great way to see what is happening around the markets whenever you feel like it.
This is my favourite trading platform because of its speed, convenience, and extensive range of trader tools. It has an abundance of inbuilt tools for trading and market analysis using powerful charting and technical indicators. It supports the development of plugin apps using the MQL programming language and built-in MetaEditor programming interface. Thousands of plugin apps have already been developed and many of them can be acquired from the MQL market which is accessible from within the MT4 platform. Indicators, EAs, scripts, trading tools, etc are all available as plugin apps that extend the features of the MT4 platform – some of these are free whilst others are paid. These tools can immensely help you make better trading decisions. I find the MT4 platform to be the most user-friendly trading platform on the market.
- Associated with the largest trading community of MQL
- 20+ graphical objects for in-depth analysis
- Real-time market price
- Simple to understand interface
- Compatible on desktop, mobile or simply trade directly from the web
- Ready-to-use Scripts; allowing an automated trading experience
- 1000+ free and downloadable indicators/EAs offered by the MQL4
- Fastest execution speed with multiple servers across the world
- 70+ forex currency pairs, global indices, and commodities available to trade
- Market execution and 4 types of pending orders available
The mobile version of the MT4 trading platform can be downloaded and installed on iOS and Android devices. The MT4 app integrates seamlessly with all of your accounts in real-time. I like how you can open trades on the desktop platform and then monitor, adjust or close them from the app. The app has a limited selection of tools for market analysis using 3 chart styles displayable on 9 timeframes, 30 indicators, and 24 analytical tools. You can open trade positions and then monitor them in real time, adjusting and closing them at will. The trading app is simple, customisable, and user-friendly. However, it is limited in terms of functionality when compared to the desktop platform. For instance, it cannot run expert advisors or customised trading tools.
MetaTrader 5 (MT5)
The MT5 platform was released in 2010 supporting faster than ever processing technology and additional layouts. The AAAFx MT5 platform offers an extensive list of the trading instruments including Cryptocurrency CFDs, helping the advanced platform to fulfil its futuristic outlook. I find the platform to be very similar to MT4 just with some more features. It may be better if you are looking to trade stocks and plan on doing some more complex market analysis. I do use it from time to time but still stick with MT4 as it is the platform that I am more familiar with and have already developed lots of trading tools for.
- 21-different time frames so that you can get a better outlook
- 30+ built-in indicators and 40+ technical objects for detailed analysis
- Availability of historical chart data of up to 30 years for back testing
- 6 types on pending order types available along with the market execution
- Built-in Economic Calendar; keeping you updated about every volatile event
- Ability to download the detailed account statement for customizable time period
- Depth of market tool giving you an edge on your trading strategies
- Multi-currency strategy tester for your automated systems
ZuluTrade is one of the largest social trading platforms in the world today. It boasts of clients from 192 countries who provide and copy trading signals from each other. The ZuluTrade platform gives you access to cutting-edge tools and features useful to all traders. I like how they’ve made this platform available in multiple languages and also for iOS and Android compatible devices. This can be a great solution for traders and investors who do not have the time to learn how to trade manually. You can simply follow and unfollow other traders at the click of a button.
If you choose to invest in this platform, you will have the opportunity to search for signal providers who are ranked based on their performance statistics. You can then choose if you wish to follow the trades of the signal provider. I like how they also give you the opportunity to use advanced risk management features like ‘Margin-Call-O-Meter’ and ‘ZuluGuard’ to help limit risks. If you choose to broadcast your signals for copying, you can benefit from a performance fee depending on how successful your trading signals are. Just keep in mind that there is no guarantee on performance of the signals and past performance is by no means any guarantee of future results.
ActTrader has been the front runner in the online trading industry since 2000, equipped with the best-in class technology. The platform focuses on simplicity, readability, and challenging the existing trading traditions with robust technology such that the user can vividly focus on the trading options. ActTrader has witnessed a multi-fold increase in the trading volume up to $5 trillion per month, substantiating the deep liquidity on the platform.
I think that the ActTrader platform allows a user to explore a multitude of trading opportunities with tailor-made conditions and the ability to overview everything in as much detail as required. If you do decide to go this route, just be aware that not many brokers provide ActTrader, Fxview being one of them. On the contrary, you will find MT4 available with the majority of brokers. Therefore, if you switch brokers down the link you may need to learn a new platform from scratch which can be annoying.
- Wide variety of already installed indicators
- Multiple drawing tools to use over the charts
- Simplified working with one-click trading option
- Set-up key price alerts so that you never miss out on any opportunity
- Export account’s data directly to excel with utmost convenience
- Add/remove additional workspace
- Format the date/time settings
- Add colors to your trading terminal and make a fun workspace for yourself
- Stream platform prices the way you like
AAAFx offers some additional tools such as the trading calculator, economic calendar, trade alerts, email alerts, watchlist and mobile/sms alerts. To be honest, the platforms have plenty of indicators for analysing the markets and managing trades. Not to mention that you can download loads of more free and paid add-ons for the platforms. Therefore, this isn’t really an issue from my perspective.
You can make accurate assessments in blink of an eye by using the brokers Trading Calculators. They are committed to helping you make the most out of your trades by saving time and focusing all the attention on crucial trading decisions instead of engaging in tedious calculations. You do not have to download anything. Just choose the calculator you want, enter your inputs, and the calculator will give you the answer.
You can get access to the latest global events at your fingertips. I always like to check the economic calendar to see what are the current important financial events impacting global markets. There is a calendar built-in the MT5 platform which can be more convenient than needing to switch between tabs all of the time.
If you are a client with slightly high volumes in trading (with a deposit of at least $5,000), you are eligible for a free VPS. I have my own VPS and find it to be a fantastic tool for remotely running my trading platforms without needing my home machine switched on all of the time. You can trade from anywhere in the world conveniently without connection interruptions and save yourself from worrying about internet or power outages. It is vital to minimize any latency while trading because a minor delay could cost you a fortune. I use my VPS to test my automated strategies on different brokers to compare performance.
A short glossary of about 18 forex and CFD trading terms is provided on the website. This is to assist you in knowing the meanings of various trading terminology. Formulas for swap, pip value as well as examples are given as part of the definitions. There is also useful information on every trading platform AAAFx uses, frequent questions about them and guides on how to use them all separately. I find their educational materials to be distinctly lacking when compared to other trading brokers like Admirals who provide trading guides, video tutorials, courses, seminars, webinars, and more.
AAAFx have a reasonable selection of financial instruments available for trading online via the various platforms. They include the following:
- Forex currencies
- Popular commodities including gold and oil
- Global indices- Nasdaq, Dow Jones, etc.
- Major cryptocurrencies
- Stock CFDs
I was pleased to see the broker has a variety of account types so that you can choose the account that suits your trading needs. They have suitable offerings for every trader, presented in a highly simplified manner. There are four different account types, that match the requirements of a novice trader, a professional trader, or an institutional trader. Some of the common features assured in all the accounts are:
- EU Regulated Broker
- Ultra -Thin spreads
- All trading strategies allowed
- No Min. Order distance-place Orders as you like
- Negative Balance Protection
- Micro Lots Trading
You can enjoy raw ECN spreads and lightning-fast trade execution at very low cost. Low commission charges and low swap charges combined with the brokers advanced technology to make your trading experience as smooth as possible. They also do not impose any restriction on any trading strategy either.
ECN Plus Account
For traders with minimum deposit of $10,000 or those in AAA category in Loyalty Program, ECN zero is the best account option from my point of view. This is becasue it has zero commission on forex with raw thin spreads, at no mark up. You can enjoy all of this along with the lightning-fast trade execution of the standard ECN account.
ECN Zulu Account
You can become part of the social trading community by opening a Zulu Account. This account is automatically connected to the Zulu Platform, no further action is required. Hence, you automatically get easy access to enjoy razor thin spreads, low commission, advanced technology, deep liquidity, and lightning-fast execution, along with direct access to a large trading community.
Demo accounts are freely available but they expire after 30 days of inactivity. This is disappointing as there are many brokers that provide non-expiring practice accounts. The demo account can be useful to try out the broker’s platforms and services before opening a real trading account.
I appreciate that they also offer Islamic accounts for Muslim traders who cannot pay swap-fees due to their beliefs. These can be opened by contacting the support team.
AAAFx customer service offers help to its customers in English, and their customer service is reliable and always willing to help. The team is available on a 24/5 basis. I would’ve liked to see them available on weekends as well like other brokers such as FBS. The team can be reached through email, instant web chat and various phone lines from different countries. I like how you can also send suggestions to the customer service team through an opinion form. On social media, they are on Facebook, Twitter and LinkedIn. A comprehensive Frequently Asked Questions (FAQs) is provided with over 100 questions and their detailed answers available.
The minimum deposit accepted by AAAFx is $10. The broker does not charge commissions on deposits but the payment processors might charge the clients a fee. I think there is a great variety of funding options with something for everyone. I would probably use digital wallets most of the time as I find this to be the quickest way to get access to my funds which is important if there is some market news I want to quickly try and capitalise on.
- Debit/Credit Cards
- Bank Wire Transfers
Overall, AAAFx is an established online trading brokerage with many years of experience and a large customer base. The broker is regulated, with eligible client funds segregated and insured. Over 500 assets are available for trading including CFDs on forex currencies, cryptos, stocks, commodities and indices. You get access to tight spreads, deep liquidity, quick execution speeds and competitive fees.
The broker has a great selection of industry leading platforms including ZuluTrade social trading services while the MetaTrader 4 and MetaTrader 5 platforms are built for manual trading and automated trading via expert advisors (EAs). Then you have the ActTrader which has an excellent selection of trading tools for conducting in-depth market analysis.
I also like how the broker offers versatile account types for each trading style and a great choice of flexible payment options including Bitcoin and digital wallets. You can start with a demo account if you want to give them a try without making a commitment.
There are many positives, however, It’ll be great if they add some educational material for beginners and also some additional trading tools.
Regardless, AAAFx can be a suitable broker for anyone who wants to trade manually or copy the signals of other traders in a regulated environment with minimal hassle.