Deposit Bonus 30%
AAAFx is a forex broker with quite long history. First established in 2008, they have been around for more than 10 years so far. Their headquarters is in Athens, Greece. During the past 5 years, the firm opened thousands of live accounts for clients from 176 countries all over the world. It is regulated and licensed by the EU as it is mentioned on their website.
Deposits and Withdrawals
There is one standard account available with the minimum initial deposit of 300 USD required, which is average on the market. According to the laws of the European Union, clients funds are being held segregated from company’s operational funds. The firm also offers a generous bonus system which includes 30 % bonus on all deposits, 25 USD welcome bonus, and 100 USD refer a friend promotion. You can deposit with all major credit/debit cards (VISA, MasterCard or UnionPay), bank wire (takes 2-3 business days for the transaction to occur), Bitcoin (around 30 minutes), Skrill, Neteller, QIWI, Giropay. Among the supported currencies are EUR, USD, JPY, CHF, GBP, BGN, AUD. Withdrawals are usually confirmed within 1 business day. It is a matter of few business days until your funds will reach your Bank account, depending on the destination country, the use of an intermediary bank etc.
The company seems to offer only one single account type. It is also possible to open Islamic account with zero swaps for people of this religion. There is also a demo account available for novice traders and those who want to try their skills before starting with real funds. There are no surprises in terms of trading platforms which are offered. You can take all the advantages of most popular Metatrader 4, such as Expert Advisors, for instance. It is available as desktop and as a mobile version for Android and iPhone. Mac and Linux users will not be able to trade with this broker. The firm also offers Zulu Trade platform with all its special features like auto-trading services and trading robots. You can also develop your own algorithms and auto-trading scripts.
The company offers trading with more than 50 currency pairs, oil, precious metals, indices, and binary options. Sole account offers tempting spreads, averaged 0.2 pips on EUR/USD pair. However, the broker charges a commission of $10 per standard lot which does not please at all. So, the average cost of trading for this pair is around 2.2 pips per lot, while most brokers provide spreads within the range of 1.0 – 1.5 pips. GBP/USD goes with 0.4 pips, more exotic pairing like NZD/JPY is traded with 1.6 pips. Nevertheless, you will be glad to hear that scalping and hedging strategies are allowed here.
While AAAFx charges quite high commission per trade and offers only one single account type, these disadvantages are covered by auto-trading systems provided by their platform, and through the option of using scalping and hedging trading strategies.