AAAFx Review – Not Any License Is Enough

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AAAFx is a Greek and South African brokerage brand. It is owned by two partner companies – Sikhula Venture Capital (Pty) Ltd and Triple A Experts Investment Services Single Member SA. Each of these firms owns licenses from their respective countries. However, not everything is so perfect and bright. 

Trading under a Tier 2 license brings certain risks. Especially if that license was also suspended at a certain point. Read our AAAFx review to learn what these dangers could be before you decide to invest here. 

The first owning company of AAAFx – the Greek Triple A Experts Investment Services Single Member SA is registered and regulated by the jurisdictional authority – HCMC. You can make sure of it by checking the Hellenic Capital Market Commission register of authorized entities. 

After going through several other databases of EEA regulators, we saw that the firm has a passport to offer their services to other EU traders. 

For EEA customers, this means that AAAFx enables segregated bank accounts for their deposits, limits the leverage to 1:30 and introduces the negative balance protection protocol. 

Alongside a jurisdictional regulation, brokers have to abide by the MiFID set of standards, enforced by the independent EU regulator – ESMA. According to it, firms are to implement additional security measures and regularly report their money transactions as an AML method. 

By this we mean the FSCA guarantee to help customers retrieve funds in case of dispute or broker’s bankruptcy. However, the risky factor is the no leverage limitation. That’s why we have to alert retail traders from countries other than the EU to choose carefully. Or perhaps pick another broker if they do not feel competent enough when it comes to risk-management. 

Besides that, there’s also a concerning fact we discovered about the broker. In the past, FSCA suspended their license and then restored it after a while, back in 2020. Whatever the reason, it does make AAAFx suspicious and less trustworthy. 

According to the statistics, AAAFx doesn’t just focus on the EEA. The firm does, after all, have a FSCA license. So, they provide services outside of just this zone. We already went into detail what it means to trade under each of the licenses. Anyhow, the greatest number of customers was reported in these countries:

AAAFx has a total of 106 ratings on TrustPilot. Out of the entire number, 87 of them gave the highest grade to the quality of the AAAFx service. There’s only a small number of negative ones – 7. Nonetheless, not neglectable. What these point out are the possible withdrawal issues and high fees related to payouts. Lets see what exactly do they say:

I’ve been trying to withdraw my money for 5 days but they always find an excuse[…]

$25 for each withdrawal? What kind of lunatic business is this?[…]

When it comes to the available trading software, AAAFx has two leading platforms in the industry and more: 

Although MT4 pioneered modern trading and trading technology, MetaTrader 5 came after but took the market by storm. It has all the top notch old features enhanced but a number of new ones. This puts it on a pedestal above most other platforms used today and makes it the traders’ favorite by far. 

More timeframes, indicators and advanced drawing tools help users conduct complex analysis and customization of their layout to suit anyone’s preferences. Along with Expert Advisors and 1-click-trading, you can be sure to have an edge on every market. 

If you’re still considering yourself a beginner and need a more relaxed start, you can use the ActTrader. Since it’s focused on simplicity yet valid reliability, it can help you learn and advance at your own tempo.

Eventually, we have to mention the availability of the Zulu social trading network. Since Triple A Experts Investment Services Single Member SA is a Greek company owning Zulu, they’ve made it possible for AAAFx users to access it. As a social and copy trading platform, it allows connecting and learning from the leading world traders. 

All the users that cannot be tied to one desktop machine have the option to trade on the go. Mobile trading is increasingly popular with retail traders. It allows traders access to world markets and complex strategies and not necessarily from their desktop machine. 

AAAFx for that reason provides the possibility of downloading MT4, MT5 and ActTrader on your mobile device. However, the downside to it is that the offer stands only for Android users. iOS mobile platform is only supported on Act Trader, which significantly lowers the number of possible mobile traders at AAAFx.

The offer of available tradable assets greatly depends on the account type you choose at AAAFx. In accordance to that, here are the available instrument classes:

Spreads at AAAFx start as low as 0.0 pips, depending on the account type. These are the minimal spread values you can encounter. The more expensive the package, the tighter the spreads. 

The same goes for the fees. More costly accounts have lower fees. The average Forex (per $100k) fee is $2.5 for the standard ECN account. Other ones offer lower commissions. 

Account types you can choose among at AAAFx along with starting deposits are the following:

The initial deposit amount required differs between each account. As mentioned, spreads and fees also depend on your first investment. Along with that, you can choose a deposit bonus of 100%.

However, we consider the description of account types and what they offer to be scarce in a certain sense. AAAFx should have made their presentation of packages more detailed, so the customers know exactly what to choose and if that offer suits them.  

At AAAFx, a Demo account is available for test trading during a trial period. After signing up and downloading the platform you want to use, you can create a Demo profile and choose the leverage and margin. 

And although having a Demo account is one of the advantages, we advise readers to be cautious. The brokers often make the Demo environment highly controlled and artificial, so it seems like all your trades are lucrative. This happens to lure investors to buy their services. 

A potentially plus side to trading with AAAFx is that the broker offers the best trading platforms available today. By this, we mean MT4 and MT5. Beginners can choose to start on ActTrader which enforces simplicity. And ZuluTrade is a famous social trading network that will help you learn from advanced traders by studying their strategies. 

Furthermore, AAAFx has a good selection of trading instruments, as it offers a total of 70 Forex pairs, and several hundred stocks. They didn’t always offer crypto currencies, but now they do. 

Our biggest concern are definitely AAAFx withdrawal issues the clients are reporting about. As the complaints say, customers occasionally have a hard time completing their withdrawals. This especially refers to the withdrawal processing time and the fees which are reportedly high, even for small payouts. 

Additionally, customers complain on AAAFx stalling the withdrawals by requesting additional docs, such as ID or passport photo. All these conditions could oftentimes be used to manipulate customers into paying more fees. 

On the other hand, AAAFx actually claims on their website not to charge the withdrawal service fee. Also, the broker claims all their withdrawals are processed instantly, except the wire transfers, which could take up to 2 business days. This is not in accordance with what some of the customers are reporting about the service they received. 

Having issues with this or any other brokerage? We’ve got you covered. Our free service is at your disposal at any given time. So never hesitate to get in touch with us for your free consultation. 

The fastest way to reach any of our agents is via the Online Chat. Easily accessible and fairly quick, it will connect you to the first available staff to help you build your plan and strategy on recovering your funds. Do not forget to include as much evidence as possible in your complaint. It makes our job easier.

As far as the licenses go, AAAFx is regulated by HCMC and FSCA. However, the FSCA license is more loose and it brings risky trades. We advise you to be very cautious, especially in terms of risk managing strategies. If you’ve already invested here and seek help recovering your funds, contact us any time.

Yes. Your referral and you earn $25 each as soon as your referral signs up.

Safety is a potential issue for international clients, which aren’t protected by the Tier 1 license, and are therefore exposed to higher trading risks.

As far as the licenses go, AAAFx is regulated by HCMC and FSCA. However, the FSCA license is more loose and it brings risky trades. We advise you to be very cautious, especially in terms of risk managing strategies. If you’ve already invested here and seek help recovering your funds, contact us any time.

Yes. Your referral and you earn $25 each as soon as your referral signs up.

Safety is a potential issue for international clients, which aren’t protected by the Tier 1 license, and are therefore exposed to higher trading risks.

The post AAAFx Review – Not Any License Is Enough appeared first on Global Fraud Protection.

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