Discuss AAAFX.com

[cris2371]

Am with AAAFX for a couple of weeks now, since sunday evening opening markets serious problems with mt4 and mt4 mobile with "off quotes. even with deviation by default of 10pips nearly impossible to open a trade. Communication with help desk is more than terrific. no answer as promised, and when answer, then appeasement attempts. no solution now for 2!! days.

hi

Hello, thank you for reaching out AAAFx Support Team. How may I help you today?
8:12 am

hi jia, you promised me first to send a ,´mail yesterday
if off quotes is solved
didn´t get any email
and off quotes here again

we are working on it

Im uiete angry
1 and a half day???????????

Mr Solderer, I am sorry for the time consuming

are you a forex broker or a marshmellow shop?
never experienced something like this

I am sorry for the time consuming
and, if you are working in it, communication after a couple of hours is minimum standard


I am sorry for the time consuming
you caues me losses!

I am sorry to hear that
this is no answer on my questions

there is no answer now
no no probem, I will discuss the issue on forexpeacearmy and a couple of other platforms

you want to close your trade?
I want to open one

your margin is 104%, when it reaches 70%, all your trades will be closed
I know

Great
nd therefore I want to open a 0.2 trade eurusd long, but cannot
0.02
I wanted to do it already @the support of 1.0570
same thing yesterday.
already lost 20pips
ok, I will have a entry on forexpeacearmy to see if also other are affected

sure
max. deviation@ 10 pips and still off quotes, it´s a shame

how did you try to open trade?
mt4 and mobile mt4

I see.
....

SO NO RECOMMENDATION for this broker

 

[aaafx sales]

Hello cris2371,

Regarding you latest comments, we would like to remind you that you have already been responded to earlier concerning this issue, both publicly on the FPA forum (please see our below quoted response) and privately by email in more detail.

Best regards,
The AAAFx Quality Assurance Team

____________________

"Dear cris2371,

Thank you for your comments and we regret any problems that you faced concerning the off-quotes messages with your account.

We reconfirm that you contacted us and that our Support agents checked the case, and informed you accordingly that such a message is usually generated when there is no sufficient margin on a client's account.

However, in an effort to cross-check and provide a higher level of assistance, we reported the issue to our Technical Department to further investigate the matter.

To conclude, we have sent you an additional detailed email where all explanations are provided and we welcome you to respond us with any questions that you may have.

Best regards,
The AAAFx Quality Assurance Team"

 

[SNG12]

Is this broker good for scalping strategies? My friend used to trade here but I’m not sure the broker will not counteract the scalping.

 

[HenryChung]

Recently I applied a fund withdrawal from AAAFx and about 2 days later I received an email mentioning they're working on the implementation of certain significant improvements of the trading experience of their users, so my withdrawal will be delayed and, at the moment, a clear schedule of when to finish the withdrawal process could not be provided. Is there anyone having the same issue as mine?!
I use AAAFx-International to use the service from www.zulutrade.com.

 

[Kyle Lim]

Broker: AAAFx

Regulatory status: not regulated

Complainant: Ms. Ding

Cause of complaint: heavy loss and withdrawal failure


On the appealing forex market, both high rated and low rated brokers compete for a share of the pie. To increase their market share, the low rated brokers try their best to attract more investors with misleading advertisements such as offering so-called “bonus” or “low deposit threshold at US$ 5”. Therefore, it is crucial for investors to choose a reliable broker. Recently, Ms. Ding told WikiFX about how she was defrauded by AAAFx, an unreliable and illegal forex broker.


Event recap

In mid-September of 2018, Ms. Ding, drawn by the so-called “high bonus”, opened an account at forex platform FORMAX and began trading. As she seldom made any profits at first, Ms. Ding only applied for one withdrawal in late October. Later, things started to go wrong at FORMAX, as the broker first took back the bonuses it had given out and then transferred all clients’ assets to the platform AAAFx without their permissions. After that, Ms. Ding asked the customer service about her withdrawal issue via social media messages and emails, but she either got auto-replies that the broker “will respond in a few minutes”, or prevarications and excuses of the customer service. Over 6 months after her first inquiry about the withdrawal, she still didn’t get her money.


Case analysis

Investors can draw the following two lessons from Ms. Ding’s case:

1. The “bonus” pitfall

In recent years, the booming forex market more brokers attracted various forex brokers. The compliant brokers can easily carve out a niche on the market, while the illegal brokers seem to rely mainly on false advertisements to increase their market share, and “bonus” is a typical slogan of such misleading campaigns. Therefore please be especially careful when you see “risk-free high profits” or “great bonuses” in broker’s advertisement. Always check its compliance and other information, in order to avoid potential risks.

2. From Ms. Ding’s experience of withdrawal failure after her deposits was transferred to AAAFx, WikiFX reminds investors that if you find the irregularities of brokers, such as delaying withdrawal, stop trading immediately and seek media assistance to expose them by sharing your experience. This can, to some extent, increase investors’ chance of receiving the money withdrawn and reduce their loss for some illegal brokers may be forced to process investors’ withdrawal under the pressure of media exposure.


Conclusion

The case involved two brokers, FORMAX and AAAFx.

1. According to the WikiFX App, illegal forex broker FORMAX has escaped with expired regulation, and the broker has also been exposed in WikiFX’s previous article.

2. AAAFx currently has no valid regulatory status, with a poor WikiFX rating of 1.93. The broker has received heavy complaints recently and shows low credibility, while its relation with FORMAX is still unclear.

WikiFX reminds investors to stay away from the two brokers and keep in mind to verify broker’s compliance before making investment.