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AAAFx Review
Updated July 26, 2021
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with AAAFx. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
KEY TAKEAWAYS
- Part of the Triple A Group (owners of ZuluTrade)
- Easy integration with ZuluTrade
- Regulated in Europe
- Accepts deposits in BTC
Regulations and Money Protection
4.0
| Entity Name | Licence & Regulation | Client Money Protection | Deposit Compensation Scheme | Negative Balance Protection |
|---|---|---|---|---|
| Alpha Global Limited (AAAFx International) (SVG) | N/A | ✔️ segregated client money |
❌ | ❌ |
| Triple A Experts SA/AAAFx (EU) | Greece HCMC Licence | ✔️ up to €30,000 |
✔️ |
Regulation
- International customers: Alpha Global Limited (AAAFx International), trading as AAAFx, with registered address at Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines, will be the counterparty for International customers. AAAFx is registered in the Saint Vincent & the Grenadines as a Business Company and regulated by the nation island Financial Services Authority (FSA) under licence number 25849BC2020.
- European customers: AAAFx (owned by Triple A Experts SA, with address at Akti Kondili 14, Pireas 185 45, Greece) is an Investment Services company based in Greece, authorized and regulated by the Greek Hellenic Capital Market Commission (HCMC) with licence number 2/540/17.2.2010 (also used by ZuluTrade). The HCMC licence allows the companies of the Triple A Experts SA group to carry out brokerage activities in Europe (reception and transmission of orders on behalf of clients, orders execution on behalf of clients and investment consulting) as an intermediary in the financial markets, respecting the MiFID obligations.
Client Money Protection
- AAAFx complies with the highest safety standards for client's funds. For this reason, AAAFx client's funds are kept in top-tier international banks, such as Hellenic Bank and Royal Bank of Scotland, fully segregated from the company’s funds.
- AAAFx also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. AAAFx holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.
Deposit Compensation Scheme
Triple A Experts SA/AAAFx (EU) is a member of the Greece Investment Guarantee Fund (IGF), an investor compensation fund for for clients of Greece's based financial companies, supervised by the HCMC and set according to the European Directive 93/22/EEC. If Triple A Experts SA/AAAFx (EU) is unable to meet its obligations, clients might be entitled to compensation (up to the value of €30,000) per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).
Negative Balance Protection
- For accounts opened via Alpha Global Limited (AAAFx International) (SVG), there is a Negative Balance Protection mechanism in place, for the sake of no negative balance. With NBP, AAAFx customers are protected from any losses bigger than their original investments, in cases of extreme market volatility.
- For customers of Triple A Experts SA/AAAFx (EU), there is a default Negative Balance Protection mechanism in place, protecting traders from any losses bigger than their original investments, in compliance with the ESMA regulations.
Accounts, Instruments and Platforms
| Accounts | Instruments | Platforms | Social trading | Maximum Leverage |
|---|---|---|---|---|
| ✔️Classic ✔️Profit Share ✔️MT4 ✔️PAMM ✔️Islamic Accounts |
✔️Forex ✔️Indices ✔️Stocks ❌Futures ❌ETFs ❌Bonds ✔️Commodities ✔️Cryptos |
✔️MT4 ❌MT5 ❌cTrader ✔️ZTP |
❌Myfxbook ✔️ZuluTrade |
30:1 Europe 500:1 Rest of World |
Account Types and Currencies
- AAAFx offers three types of trading accounts; Classic, Profit Share and MT4 divided into two levels, retail and institutional with different spreads and fees structure and with minimum deposit requirements. AAAFx also offers swap-free accounts for traders of Islamic belief.
- AAAFx allows for social trading, including copy trading, through ZuluTrade.
- AAAFx Also has PAMM accounts alternatives for money managers, via ZuluTrade.
- AAAFx maximum leverage is 30:1 for accounts opened within Europe and up to 500:1 for accounts opened in other countries around the world (subject to a maximum of $50K account balance, thereafter 200:1 max leverage).
- Currently, AAAFx trading accounts are available in USD, EUR, YEN, AUD, GBP, CHF and Bulgarian Lev.
Financial instruments
Trading with AAAFx can be done via the classic Metatrader 4, available on desktop terminal and mobile versions and AAAFx proprietary ZTP platform, web based and integrated with the ZuluScripts. AAAFx offers a limited selection of about 200 assets to trade, including Forex, indices, stocks, commodities and cryptocurrencies.
- FX market - 35 currency pairs (including Minor and Exotic crosses).
- Indices - 10 world indices including CAC 40, UK 100 and NIKKEI 225.
- Stocks - 146 stocks bonds CFDs from DOW30 and Nasdaq including worldwide top companies and banks, such as Mastercard, JP Morgan, Intel, Citigroup or Boeing.
- Commodities - 6 commodities CFDs available for trading; 3 metals (including Gold and Silver) and 3 energies including UK Oil and US Oil.
- Cryptocurrencies - 5 cryptocurrencies CFDs crosses for trading, including BTC/USD, LTC/USD and XRP/USD.
Pricing
4.0
| Pricing/ Account |
Classic | Profit Share | MT4 |
|---|---|---|---|
| Spread EUR/USD | from 0.3 pip | from 0.3 pip | from 0.3 pip |
| Commissions (1 lot) | from $20 - Retail from $6 - Institutional |
from $20 - Retail from $6 - Institutional $30 Monthly Subscription Fee 20% Performance Fee on Profits |
from $5 - Retail from $3 - Institutional |
| Minimum Deposit | from $300 - Retail from $100,000 - Institutional |
from $300 - Retail from $100,000 - Institutional |
from $300 - Retail from $100,000 - Institutional |
Spreads
AAAFx trading costs are not very competitive, even with a lower starting spread, compared to other brokers. The starting spread on all accounts for the EUR/USD, for example, is 0.3 pip (average 0.5 pip), plus commissions. AAAFx commissions vary depending on the account type and package. The trading commissions for retail customers are extremely expensive, compared to other brokers, substantially increasing the overall cost of trading with AAAFx.
For the same example, the EUR/USD, the standard lot commission for 1 lot (100,000 units) with a Classic account or a Profit Share account (connected to ZuluTrade) is 20 USD (10.00 USD per side, per lot). Or the equivalent on the trader's account currency. We consider this commission cost to be some of the highest in the market, when compared with other brokers. Positevily, for the institutional account types the EUR/USD, standard lot commission for 1 lot (100,000 units) is a much lower 6 USD (3.00 USD per side, per lot). The only problem? Traders need a minimum account balance of 100,000 USD to qualify for institutional privileges, which could present as a problem for a lot of traders.
Luckily, AAAFx recently launched a third account type; the MT4. Same spread structure, but with more competitive commissions. For the same example, the EUR/USD, the standard lot commission for 1 lot (100,000 units) on the MT4 account (for retail customers) is 5 USD (2.50 USD per side). The standard lot commission for 1 lot (100,000 units) on the MT4 account (for institutional customers) is an even lower 3 USD (1.5 USD per side).
For the same example, the EUR/USD, the standard lot commission for 1 lot (100,000 units) with a Classic account or a Profit Share account (connected to ZuluTrade) is 20 USD (10.00 USD per side, per lot). Or the equivalent on the trader's account currency. We consider this commission cost to be some of the highest in the market, when compared with other brokers. Positevily, for the institutional account types the EUR/USD, standard lot commission for 1 lot (100,000 units) is a much lower 6 USD (3.00 USD per side, per lot). The only problem? Traders need a minimum account balance of 100,000 USD to qualify for institutional privileges, which could present as a problem for a lot of traders.
Luckily, AAAFx recently launched a third account type; the MT4. Same spread structure, but with more competitive commissions. For the same example, the EUR/USD, the standard lot commission for 1 lot (100,000 units) on the MT4 account (for retail customers) is 5 USD (2.50 USD per side). The standard lot commission for 1 lot (100,000 units) on the MT4 account (for institutional customers) is an even lower 3 USD (1.5 USD per side).
Rollover Rates
AAAFx swap rates, as of 26-07-2021 for the EUR/USD stands at -3.038 for holding overnight a 1 lot long contract and at +0.89 for holding overnight a 1 lot short contract. We consider these rollover rates to be slightly higher (for long positions) and the best (for short positions) when compared with other top brokers.
Deposits/Withdrawals and Other Fees
- Deposit fees - Trading accounts can be opened in 7 different currencies and maintained via 15 different funding methods, including cards, bank wires, Bitcoin and e-payments such as Neteller, QiWi or Skrill. Deposited funds are available almost instantly. AAAFx deposits fees are variable depending on the funding method. For example for an Instant Deposit via bank card a 2.5% flat fee applies, for Neteller a 3.4% + $0.29 flat fee applies, for Moneybookers a 2.95% + 0.25€ (or equivalent for deposits on USD, GBP, JPY, AUD and CHF) processing fee applies. Surcharges (from 0.5% to 1%).
- Withdrawals fees - AAAFx also charges withdrawals fees. All withdrawals are subject to a $25 flat fee for USD accounts (€25, ¥3,000, $30 AUD, £17 and Fr25 for EUR, YEN, AUD, GBP and CHF accounts respectively) which will be applied to the withdrawal amount. No fees apply on withdrawals for amounts received via Instant Deposit bank cards. For more information, please visit the AAAFx deposit and withdrawals dedicated page.
- Inactivity fee - AAAFx does not charge an inactivity fee or any account maintenance fees.
Popularity
3.0
| Forex Education | Deposit Options | Deposit/Withdrawals Fees | Non expiring demo account | Customer Support |
|---|---|---|---|---|
| ❌ | Cards Bank Wire E-payments Cryptocurrencies |
✔️ | ✔️ | Multi language 24/5 Support Live Chat |
With several thousand clients from across the globe (according to their corporate website), AAAFx seems to fail on capturing and retain the attention of new traders. The main reason could be it’s higher than market average pricing costs, or perhaps, also on the negative side, the lack of Forex education materials. Or, ultimately, the lack of regulation by a stronger financial authority regulator to protect international customers, as the tier-5 Saint Vincent & The Grenadines FSA has still to implement stronger protective measures to safe-guard investors.
- Trading accounts - The AAAFx MT4 account is becoming the popular choice with traders looking to save on trading costs, with a lower spread and a very competitive commission of $5.00 per lot traded.
- Forex education - AAAFx loses some extra popularity points for their lack of Forex education materials. Nothing is available on the broker's website to help new (and existing traders) understanding the market and how to trade the different assets offered.
| Funding Methods | Bank Wire, Cards, Bitcoin, EPS, Giropay, iDeal, Neteller, Przelewy24, QIWI Wallet, Skrill (Moneybookers), Sofort |
|---|---|
| Support Languages | Arabic, Chinese, English, German, Greek, Japanese, Russian, Spanish |
- Minimum deposit - Opening a trading account with AAAFx can be done online, taking around 15 minutes to complete the required forms. AAAFx minimum deposit requirement is $300, €250, ¥35,000, £200, Fr250, and 370 AUD for a Retail Account and $100,000 for an Institutional trading account.
- Customer support - AAAFx multi language customer support service is available 24 hours, 5 days a week, in 11 languages. AAAFx support is available via local number phone call (subject to jurisdiction), contact form, email and live chat directly from the broker's website. AAAFx is also not very popular with traders for their customer service team. A great percentage of traders complain about the lack of Forex knowledge of the AAAFx customer service.
Broker Profile
AAAFx is a Forex broker, part of the Triple A Experts SA group (the same owners of ZuluTrade), headquartered in Athens, Greece. Founded in 2008, as the trading arm of the group, AAAFx is regulated as a FCM in Europe, with registration no. 2/540/17.2.2010 and in compliance with the new institutional framework on MiFID (Markets in Financial Instruments Directive).
Currently employing 70+ people, and with offices in 6 different countries, within the past 5 years the company has successfully opened thousands of live accounts from 176 countries across the globe. AAAFx mission, as a Forex broker, is to provide it's customers and global investors with access to the world's largest and most liquid market by offering innovative trading tools, meeting strict financial standards and striving for the best online trading experience in the market.
AAAFx offers in-house live customer support in 8 languages, with a dedicated trading desk, operational 24 hours/ 7 days a week. AAAFx main focus is to offer an exceptional trading experience and outstanding customer support.
Overall, on our AAAFx review, the broker scores a nearly neutral 3.8 out of 5 as it could be a good choice for traders looking for a safe broker (European clients only) with good regulations and safety of funds in place. Also AAAFx is a partner of ZuluTrade, so integration is easier and swift. On the downside the broker fails to increase it's popularity with traders due to the cost of trading, not the cheapest, compared with other top brokers, and for the lack of Forex educational materials and poor customer service support.
Data supplied in partnership with CashBackForex - Forex Rebates places AAAFx on the top 30 brokers for popularity with traders opening an account in 2020.
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Currently employing 70+ people, and with offices in 6 different countries, within the past 5 years the company has successfully opened thousands of live accounts from 176 countries across the globe. AAAFx mission, as a Forex broker, is to provide it's customers and global investors with access to the world's largest and most liquid market by offering innovative trading tools, meeting strict financial standards and striving for the best online trading experience in the market.
AAAFx offers in-house live customer support in 8 languages, with a dedicated trading desk, operational 24 hours/ 7 days a week. AAAFx main focus is to offer an exceptional trading experience and outstanding customer support.
Overall, on our AAAFx review, the broker scores a nearly neutral 3.8 out of 5 as it could be a good choice for traders looking for a safe broker (European clients only) with good regulations and safety of funds in place. Also AAAFx is a partner of ZuluTrade, so integration is easier and swift. On the downside the broker fails to increase it's popularity with traders due to the cost of trading, not the cheapest, compared with other top brokers, and for the lack of Forex educational materials and poor customer service support.
Data supplied in partnership with CashBackForex - Forex Rebates places AAAFx on the top 30 brokers for popularity with traders opening an account in 2020.
Was this review helpful? Share it with a friend!
AAAFx User reviews
AAAFx Account types user rating
(6)Personal
(3)Corporate
(3)Institutional
(6)Zulu