Alyaziah Hayat | May 9, 2022
Table of Contents
AAAFx is an online forex and CFD broker that offers over 200+ instruments for trading online via the provided platforms. I would’ve liked to see them offer more trading instruments like other top brokers such as IG. I like how AAAFx also supports social trading platforms and signal copying. However, I find them to be lacking in educational materials, trading tools, and detailed market analysis to inspire traders. If these resources are important to you, I suggest checking out AvaTrade.
Broker Pros / Cons
- Social trading powered by ZuluTrade
- Access to trade on the flexible & powerful MT4 platform
- Multilingual customer support desk
- Flexible funding options
- Limited regulation
- Restricted leverage
- Withdrawal fees
- High commissions
- $300 minimum deposit
- Lack of educational materials & trading tools
- No services to residents of USA, China, Cuba, Iran, North Korea, Sudan & other countries
AAAFx is an online broker established with the aim of providing you with an outstanding trading experience and an excellent customer support team. Founded in 2008, AAAFx has its headquarters in Athens, Greece, and serves traders from 176 countries all over the world.
The broker provides you with over 220 trading instruments for trading on its platforms. I like that AAAFx is an ECN broker that offers a Non-Dealing Desk (NDD) brokerage model. I don’t see many brokers offering this model anymore. The broker also promotes social trading via ZuluTrade. Thus, every AAAFx trading account is automatically linked to ZuluTrade; a leading social trading platform used by over a million traders from around the world. There is also the choice of trading with the popular MetaTrader 4 (MT4) platform which is a versatile and flexible trading platform suitable for traders of all experience levels. I find the MT4 platform to be the most user-friendly trading platform on the market.
AAAFx offers tight spreads and competitive trading fees. However, I found these trading conditions to be quite pricey as compared to other brokers like HYCM. Multiple payment options are available and a friendly, multilingual customer support team is on hand to assist you with any issues.
AAAFx is regulated by the Hellenic Capital Market Commission (HCMC); which is the regulatory body in Greece. I like that HCMC is MiFID compliant. This allows the broker to operate within the EU region.
Your 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.
AAAFx does not accept clients that are residents of the United States of America (USA), Puerto Rico, Quebec province, China, Cuba, Iran, North Korea, Sudan, and Syria. If your country is not accepted by AAAFx, I recommend checking out our broker comparison tool for alternatives.
Please note that the above list is subject to change according to regional and international regulations, and as a result is not exhaustive.
ZTP is a web-based trading platform for buying and selling forex and CFDs. I like that it does not require any downloads as it runs directly in web browsers and works on all devices and on all operating systems. The ZTP platform allows manual trading using multiple order types and a set of trading tools. The platform supports charting on multiple timeframes as well as technical analysis using indicators and analytical tools. ZTP supports ZuluScripts™ which is used to develop trading robots that automate strategies. The platform supports the deployment of robots created via ZuluScripts. I don’t see many brokers offering this service and so it is a breath of fresh air to see something new for a change. ZTP accounts fully integrate with ZuluTrade which is a social trading platform.
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 Windows computers and also the mobile versions available as Android and iOS apps. MT4 is my favourite trading platform as it has inbuilt tools for trading and market analysis using charts 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.
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.
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. To find out more about ZuluTrade and how it works, you can read our ZuluTrade Review.
AAAFx Mobile App
This is the proprietary mobile trading app developed by AAAFx for Android and iOS devices. It is available in the Apple and Google Play stores. From the app, you can manage your trading accounts, make deposits, request withdrawals and upload verification documents. The app is fully integrated with the ZuluTrade platform, so, you can search through thousands of signal providers in order to choose a provider to copy signals from. I like how they also allow you to manually close trades opened by your signal providers, adjust stops and limits, and set trailing stops. Manual trading and analysis using charts, technical indicators, etc are also available on the app. The app is easy to use and operate.
MT4 Mobile App
This is the mobile version of the popular MT4 trading platform. The app can be downloaded and installed on iOS and Android devices. The MT4 mobile trading app is currently being used by millions of traders. This is my favourite trading platform because of its speed, convenience, and extensive range of trader tools. The MT4 app integrates seamlessly with all MT4 accounts in real-time. I like how you can open trades on the MT4 desktop platform and then monitor, adjust or close them from the MT4 app. The MT4 app has tools for complex 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 app is simple, customisable, and user-friendly.
In addition to the trading tools that come with the platforms, AAAFx, unfortunately, does not provide any other tools that can further help traders. I believe this broker is primarily focused on providing social trading services and thus, do not provide standalone tools. The broker assumes that you already have your trading strategies, tools, and everything that you need. I think they could certainly improve in this aspect of their brokerage service. For a wider variety of trading tools, I suggest you check out BlackBull Markets instead.
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. 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.
The following instruments are available for trading online via the AAAFx trading platforms:
- 34 Forex Currency Pairs (minors, majors & exotics)
- 10 Indices
- 6 Commodities
- 1 Treasury
- 5 Cryptocurrencies
- 169 Stock CFDs
AAAFx charges commissions on all trades. For forex, retail clients pay $10 per side per lot while institutional clients pay $3. For CFDs, it is $0.8 for retail accounts and $0.3 for institutional accounts. The maximum leverage is 1:30 in compliance with ESMA directives. I find this leverage to be quite low as compared to other top brokers such as LMFX.
This account offers you the opportunity to trade manually or trade automatically through copy trading. You can choose to trade on either the ZTP or MT4 trading platform.
This account is strictly for copy trading through the ZuluTrade Platform. A commission of $15 is charged per round turn of every lot traded. You can use this account to copy the trading signals of other traders. There is a monthly performance fee of 20% that is charged every time the ‘Profit and Lost’ statement is positive and above the water mark; the maximum profit reached by that trader.
This account offers you the lowest trading fees of $2.5 per side per lot traded. It is exclusively for trading on the MT4 platform. You will not have access to the ZuluTrade social trading platform.
I appreciate that they also offer Islamic accounts for trading. These can be opened by contacting the support team. Demo accounts are freely available but they expire after 15 days of inactivity. Demo accounts can be useful to try out a broker’s platforms and services before opening a real trading account.
I appreciate that the AAAFx customer service team speaks 11 languages. This would attract traders worldwide to this platform. The team is available on a 24/5 basis. I would’ve liked to see them available on weekends as well like other top brokers such as Bold Prime. 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, AAAF is on Facebook, Twitter and LinkedIn.
A comprehensive Frequently Asked Questions (FAQs) is provided. Over 100 questions and their detailed answers and explanations are available.
The minimum deposit accepted by AAAFx is $300. I find this to be a lot compared to other top brokers such as Fusion Markets. The broker does not charge commissions on deposits but the payment processors might charge the clients a fee. For withdrawals, AAAFx charges a flat fee of $25 except on Debit/Credit cards which is free.
- Debit/Credit Cards: Visa, Mastercard, and UnionPay are the cards accepted. The payments are processed instantly and there are no charges.
- Bitcoin: This is accepted from clients who own Bitcoins. There are no transaction charges and it takes up to 30 minutes to process payments.
- Bank Wire transfers: AAAFx accepts direct transfers into their bank accounts from the client’s bank account. It takes up to 3 business days to complete a bank transfer.
- eWallets: The accepted methods are Skrill and Neteller. The deposits are processed instantly but sometimes may delay up to 24 hours.
- ePayments: The accepted methods are Giropay, EPS, iDeal, Sofort, Przelewy24 and QIWI. The payments are processed instantly or at most 1 business day.
I find the account opening process to be quick and easy. You have to visit the website and click on the “join now” button found on the top right-hand side of every page. The account opening form below will be displayed.
You can fill in your personal info and verify your email address by entering the code received into the space provided. Once you have completed the form, you can then upload the verification documents and make a deposit into your trading account. Once your account has been activated and approved, you can commence trading online. I like how every AAAFx real trading account is automatically linked to a ZuluTrade account.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
AAATrade is an established online trading brokerage with over a decade of operations and a large customer base. The broker is regulated, with eligible client funds segregated and insured. Over 220 assets are available for trading on the provided trading platforms which includes forex currencies, cryptocurrencies and stock CFDs. I must admit that the forex currency pairs and some other assets are limited compared to other online brokers like FP Markets.
The ZTP trading platform is fully integrated with ZuluTrade social trading services while the MT4 trading platform is built for manual trading and automated trading via expert advisors (EAs). I personally would prefer to use the MT4 platform as it is much more user-friendly. AAAFx also offers multiple flexible payment options including Bitcoin, several e-wallets, and online payment gateways.
I was quite disappointed when I found out that no trader education materials or additional trading tools were provided. There is also no in-house team of experts, no market news, and no daily technical analysis like what’s provided by Go Markets. When compared to other brokers such as Trade Nation, I found the minimum deposit fee of $300 to be high and the withdrawal commission of $25 is also high. Overall, there are other brokerages that can provide you with a more competitively priced and complete trading solution. You can check out our broker ratings to find alternatives.