AAFX Trading Review: Is it a scam?
Introduction to AAFX Trading Review:
You want it or not, scams are inevitable especially if you are trading in the financial market. The financial market has a plethora of opportunities for you to earn passive income in the form of huge profits and returns. However, this opportunity has also been seized by the scammer who has left no stones unturned to enter the market and hide amongst the legitimate brokers to fool unsuspecting traders. Read on to know more about AAFX Trading in this detailed AAFX Trading Review.
Upon visiting the website, we found out that the company states to have headquarters in two countries, Malaysia and Hong Kong. However, this claim soon turned out to be a blatant lie when we searched the addresses over the internet. Upon investigating a little into the company’s origin, we found out that AAFX Trading is based out of Saint Vincent and the Grenadines.
About the company:
AAFX Trading claims to be an investment company in the financial market that offers trading services to its customers in a variety of tradable instruments such as stocks, gold, silver, CFD, oil, indices, metals, energy, etc. While the website is out of order and seems to be using century-old technology, more facts about AAFX Trading will blow your mind. Read on to find out.
Breaking down the claims:
Does AAFX Trading have a regulation?
It is clear from the above segment that AAFX Trading does not have regulations from the countries of Hong Kong and Malaysia. Furthermore, we also found out that AAFX Trading is actually based out of Saint Vincent and the Grenadines. For those of you who do not know, Saint Vincent and the Grenadines is an offshore zone with no regulatory bodies. Therefore, the companies that are registered here are no less than a scam. This raises the first red flag in AAFX Trading Review.
What are the leverages offered by AAFX Trading?
AAFX Trading offers different leverages to the customers on the basis of the instrument they are trading in. The leverages range from 1:200 to 1:2000 as compared to the leverage offered by the legitimate brokers that are capped at 1:30 and 1:50 depending on the country. It is evident that AAFX Trading is inclined towards making their customers incur losses by offering high leverages.
What is the minimum deposit demanded and the account types offered by AAFX Trading?
AAFX Trading offers three different account types to their customers with different minimum deposits. The accounts are Fixed Account, VIP Account, and ECN Account. AAFX Trading demands a minimum deposit of $100 for the Fixed Account and the ECN Account whereas it is $20000 for the VIP Account. All of the minimum deposits are higher than the average minimum deposit that the industry demands which is 5 – 10 USD.
Conclusion: Is the AAFX Trading scam real?
To sum up, all that has been stated above, we leave the choice to our readers to decide whether AAFX Trading is a scam or not. However, we request everyone to stay cautious of this potential scammer and do not risk their money. If you have been scammed by AAFX Trading, be sure to fill the complaint form and our team will assist you in no time!
To know more about scam brokers, read our latest review on Scam Brokers 2021
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