AAAFX.com

pilotmaterial

Recruit
Messages
4
Bad Broker STAY AWAY!!!

I have been trading with AAAFX for over a year now and while everything was fine initially I didnt mind their poor and lousy customer service and after sales support which was pure crap but this is the case that really bugs me to the bone!
This broker has a policy of closing all open trades in ones account when the A/C goes into a Margin Call. I dont think this is fair as other brokers simply close the offending trades one at a time until the margin comes back into regular levels.
With the current situation in the FX market and huge volatility in an already very volatile market this works well into their favor closing trades and taking customer's money that should never have been closed in the first place. Therefore the customer losses a Hell of a lot more than he/she should have in the first place
And now their new ploy is to delay as much as possible people's withdrawals making numerous excuses. we have been trying for over 2 weeks just to remove our money and they have some kind of support problem crap somewhere!
My days are over with this broker and I highly recommend you do the same.
 

aaafx sales

aaafx.com representative
Messages
12
Dear Sir,

Almost all forex brokers in the market automatically close all open positions when you hit a margin call.
As for the withdrawals, please contact sales@aaafx.com so I can look at your case and resolve it asap.
Thanks.
 

pilotmaterial

Recruit
Messages
4
Dear Sir,

Almost all forex brokers in the market automatically close all open positions when you hit a margin call.
As for the withdrawals, please contact sales@aaafx.com so I can look at your case and resolve it asap.
Thanks.

Yeah right sure! Thats why since the 3rd of March since the application for the withdrawal all we got was excuses and emails asking for this document and that document and after we gave you the documents you asked for STILL no money still no word except a once a week email from your so called support team saying "we will get back to you"
And in the case of the other brokers closing "ALL" open positions.... You couldn't be more further than the truth, FXCM, Alpari UK, Forex.com, easy-forex, Berkley futures, MIG only to mention a few of the "real" non scamming ones who :ponly close positions as needed they close one position at a time until the margin comes back into green and leave the other open trades running as they deserve a chance! Not CLOSE EVERY Freaking trade because of "1" offending one!
Oh I wish I could post up the emails I got from AAAFX here in reply to the delay in withdrawals! I WISH!
 

Carmelo

Recruit
Messages
2
Before you open an account with AAAfx

Everyone knows how quick and easy it is to open an account. All the adverts brokers produce in order to lure you as a client.

I really hate it when a broker advertises something and then expects you to know that what was advertised was not a default setting. It happened to me with AAAfx. There adverts say 200:1 leverage, but just recently I came to know that the leverage for my account is set to 100:1. There is no leverage option during the application phase, they expect you to know that you have to ask for the leverage to be changed.

When I contacted AAAfx, they said that they are happy to change it but I would have to close all open trades first. At the moment I cannot do that so I am stuck with 100:1 for now. I really dislike those who in one way or another try to trick their clients.

My thoughts are: I have discovered this trick, are there other tricks down the line?

Beware.

Carmelo
 
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jilda21

Recruit
Messages
1
Satisfied with AAAFX

Sometimes it is worth to give a chance and try things by yourself. Choosing a broker is not an easy decision as each trader has different needs and personality. I am satisfied with AAAFX. They respect me and my trades, and that has a great meaning for me.
 

Razx

Recruit
Messages
4
worst broker and worst support team

AAAFX had taken out all my money by margin call.

As per AAAFX margin call rule, they will closed all open positions when margin level drop to 70% and you will have remaining 70% amount of used margin in your account. When I received margin call on 15th March 2011, all my open positions were closed but my balance was ended in negative amount. I had 170 micro lots opened at that time which used margin was USD1700. After margin call received my balance was USD -153.83. As per AAAFX rule, it should be 70% of 1700 which is USD1190. I had reported it to support and they told that they had technical problem in their system when I received margin call and it will be fixed soon.

Now, it has been more than 6 weeks and this issue had not been fixed yet. I already contacted them more than 10 times through e-mails, live support and telephone and every time the reply is same as "this issue is in process and will be fixed soon". But nothing happened till today. On 21st April, I had chat them on live support and I was told this issue will be fixed by tomorrow. But again nothing happened and I again send e-mail on 27th April. They even did not reply it.

Again, I contacted them today, 5th May by live support. And after telling them my ID and case issue no. they just keep me waiting and waiting with auto reply "Thank you for waiting. I'll be with you in just a moment" for more than 30 minutes but did not come on contact. Oh my god, what a support !!!!!
I think they do not have any intention to refund me any money nor want to keep contact with me.

I would like to know from other people who have received margin call, what happen to your balance after margin call? Do you loose all your money?
 

FOREXCZ

Private, 1st Class
Messages
30
Any news from this?
I think you have miscalculated...margin call is when you do not have enough margin left to continue trading, so the broker closes ALL your open trades, regardless if they are winning or loosing. In the worst case, you end up loosing all your open lots, but again, you shouldnt have a negative balance!
 

Razx

Recruit
Messages
4
Margin call

Hi FOREXCZ and fxeria,

Thanks for your post.

Look at this page's heading "Stop out".
AAAFX - Competitive Trading Conditions - Glossary

Stop out: The situation in which all open positions in an account are closed by the broker because the equity reaches a pre-specified level of margin requirement. In AAAFx this level is the 70% of the margin requirement. E.g. if the margin requirement is 1,000$ and the equity of the account is 700$ then all of the open positions will be closed automatically.

In my case, margin requirement was $1700 and when the equity dropped to $1190 all positions should be automatically closed and my account balance should be $1190.

Btw, I received email from AAAFX's support on 7th May after I did post here. They said my account has been fixed and my equity is set to zero. But I don't understand why it is zero as I think it should be 70% of margin. I again send email to support on 8th May asking this but I have not get reply yet. What kind of support is this who does not reply customer in a week? Please somebody guide me what to do..
 

FOREXCZ

Private, 1st Class
Messages
30
I think you ve got it all wrong...
70% of margin requirement would be
in $1000 when your account equity reaches $300 (you have used 70% of your account or $700), all open positions would close and you should have $300 remaining.
So in your case it would be 70% of 1700 or 1190 so 1700-1190=510 and that should be your remaining balance!
In no case your balance can be 0...
 

david french

Recruit
Messages
1
Yeah right sure! Thats why since the 3rd of March since the application for the withdrawal all we got was excuses and emails asking for this document and that document and after we gave you the documents you asked for STILL no money still no word except a once a week email from your so called support team saying "we will get back to you"
And in the case of the other brokers closing "ALL" open positions.... You couldn't be more further than the truth, FXCM, Alpari UK, Forex.com, easy-forex, Berkley futures, MIG only to mention a few of the "real" non scamming ones who :ponly close positions as needed they close one position at a time until the margin comes back into green and leave the other open trades running as they deserve a chance! Not CLOSE EVERY Freaking trade because of "1" offending one!
Oh I wish I could post up the emails I got from AAAFX here in reply to the delay in withdrawals! I WISH!

Actually, ive only ever had margin call once with another broker, and all my trades were closed. To note, its actually very clear on the Zulu "Margin-o-Meter" when you hover over the blue exclamation mark. In bold letters "At this stage all positions will be closed". And by your logic, which trade is the offending one? The biggest drawdown? The most recently opened thats in negative? Its your responsibility to have necessary margin for your trades.

Ive only been member of AAAfx for 1month, solely because of Zulu. I dont think ill be staying for much longer. I get many requotes when trying to close a trade manually or even when Zulu SP tries to close the trade. And im not talking about NFP, just a regular day with regular volatility :mad:

Ive had price go 10 pips beyond my SL, to only have trade not closed out. Ive never seen this before. Also i couldnt manually close trade i kept getting off quotes message. This has happened to both positive and negative trades.:hissyfit:

Another time i had 2 positions open with same Take Profit. One trade closed, one stayed open when price hit the limit. Also tried to close this trade manually, but i couldnt - Off Quotes again. Ive never experienced this before either. I didnt think it was possible. I managed to get out of the 2nd trade at few pips profit, about 25 short of where it should have closed automatically.

So far not impressed, and i can compare to 4 other current brokers i have, and many in the past. They have about 2 weeks till i close the acct and move on:unhappy:
 

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