WikiFX Review: AAFX, Is it OK to invest in?

What AAFX is

Founded in 2010, AAFX is a Saint Vincent and the Grenadines-based broker offering traders a large range of market instruments, such as forex trading, precious metal, energies, equity indices, etc. The broker has a series of offices worldwide. But the Headquarters is in Saint Vincent. According to WikiFX, AAFX has been given a very low rating of 2.04/10. please note the potential risks.

Regulation

This broker currently doesn't hold a legitimate license, it is not regulated by any regulatory institution. This means your money can not go back if something goes wrong.

Trading Platform

AAFX uses MT4 as its main trading platform. The MT4 is currently the most popular forex trading platform along with the MT5 on the market. With a user-friendly interface, powerful charting tools, and a large number of custom indicators, MT4 is available for automated trading and EA trading, helping traders of all levels to develop different trading strategies and help traders to get ahead in the financial markets.

Account Types&Minimum Deposit

AAFX offers 3 different types of accounts. They are ECN accounts, Fixed accounts, and VIP accounts. For both Fixed accounts and VIP accounts, the minimum deposit is $100. For a VIP account, the minimum deposit is $20000.

Spread

Different account types have different spread rates. For a Fixed account, the spreads can be as low as 2 pips. For the ECN account, the spreads can be as low as 0.6 pip.

For VIP accounts, the spread can be as low as 0.4 pip.

Feedback from investors

As of May 6, 2022, the complaints against this broker have been received by WikiFX reached 3 in the past 3 months.

This trader who comes from Pakistan claimed AAFX is a scam after investing in AAFX. It seems to be a manipulation by the broker during the trading.

This investor from the Philippines also considers AAFX a scam. He said one client can not withdraw the money from this broker. Even worse, the password was changed without this client's permission. And the account was locked.

This trader coming from Hong Kong warned that AAFX doesn't allow clients to withdraw money if clients gain profit. The only result for you to invest in this broker is loss.

Conclusion:

Due to the bad track record of AAFX, we don‘t advise traders to work with AAFX. An unlicensed broker can take your money away fraudulently. If you don’t want to lose everything to the last penny, we advise you to find a better alternative. WikiFX contains details of more than 34,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link(https://www.wikifx.com/en/download.html). Additionally, we want to invite you to read another review on CG TRADE, which may give you a different way of thinking while trading.