AAFX Trading Review Scam Complaint
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AAFX Trading is an offshore trading company which was founded in 2014 and is situated in St. Vincent and the Grenadines. The broker offers trading in number of currency pairs and a wide range of CFDs. AAFX Trading claims to be regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines, but, this regulator is less known globally . This brokerage company operates globally and is among the few brokers that accept clients from the US.
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About the AAFX Trading:
AAFX Trading is owned and operated by AAFX Trading Company Limited and the brokerage company also has representative offices in Australia and Hong Kong. The broker offers its clients two types of accounts, Fixed and ECN. The Fixed Account offers fixed spreads, while the ECN one has variable and tight spreads. This broker does not charge ECN account holders with any commission, unlike other most of the brokers. Both of these accounts offer micro lots and leverage as high as up to 1:2000, which is extreme high. Extreme high leverage is not recommended at all as it increases the risk level super high. AAFX Trading offers a wide range of currency pairs and CFDs on indices, stocks, crypto, etc. on MT4 mobile and web based platform.
St Vincent and the Grenadines based International Business Companies provide financial services under the local financial regulatory status and regime, which is one of the most liberal regulatory. Here, Registration procedure is comparatively easy and inexpensive and companies face little regulatory supervision. That is the reason why, you should select among brokers regulated in the EU or Australia or another jurisdiction, or where the respective financial regulatory firms are on alert and your money will be safe, if you are planning g to invest.
Is AAFX Trading legit or scam?
AAFX Trading is an offshore trading company which is not regulated from a well known regulatory. The broker chose the easiest and cheapest way to deliver its financial products services to international traders. The company is unregulated in Hong Kong, but it appears in SFC warning list which warns traders against any investment with the AAFX Trading Company. Many traders have faced issues while withdrawing their profits and also experienced trading manipulations. Overall, it is concluded that AAFX Trading is a scam and you are advised not to fall for their false promises and claims and keep your money safe.