Just to clarify on my previous post, aaafx is regulated by the Hellenic Capital Markets Commission, they have written to me.
Their website and online support team continually saying they are "mifid regulated" is just ignorance (or deliberate to steer attention away from the fact they are in greece?) - mifid is a law, not a regulatory body - the regulatory body is the hcmc.
imho, HCMC is better than being regulated in a place like, mauritius (third world country that still has slavery) or russia (good luck in their corrupt courts). at least it's in europe, and they benefit from european regulations (that's where mifid comes in for investor protection) and the support of the european bailout fund for member states and financial institutions.
I've yet to try Zulutrade. the delays in processing my paperwork were so long, that I opened an account with ThinkForex in Australia and have been trading with them. They are right behind aaafx in low slippage, but their spreads are much more competitive! In trading I've seen spreads below one pip on EURUSD frequently - sometimes 0.2 pips - and frequently between 0.6 and 0.9 pips - which is way below the 1.9 pips spread that aaafx advertises on their website. But Thinkforex no longer accepts zulutrade - perhaps because of a merger between Zulu and aaafx? this would seem logical. They do have one thing I like: in addition to having MT4, they also offer the cTrader platform, which, not only has an easy-on-the-eyes dark background, but also an easier to use interface (more intuitive than MT) as well as allowing for lower spreads than when using MT4. (Might it be that the MT licensing scheme makes the broker pay a commission on each trade? one can only speculate)
But I intend to give zulutrade a try soon. I'll keep you posted.
Their website and online support team continually saying they are "mifid regulated" is just ignorance (or deliberate to steer attention away from the fact they are in greece?) - mifid is a law, not a regulatory body - the regulatory body is the hcmc.
imho, HCMC is better than being regulated in a place like, mauritius (third world country that still has slavery) or russia (good luck in their corrupt courts). at least it's in europe, and they benefit from european regulations (that's where mifid comes in for investor protection) and the support of the european bailout fund for member states and financial institutions.
I've yet to try Zulutrade. the delays in processing my paperwork were so long, that I opened an account with ThinkForex in Australia and have been trading with them. They are right behind aaafx in low slippage, but their spreads are much more competitive! In trading I've seen spreads below one pip on EURUSD frequently - sometimes 0.2 pips - and frequently between 0.6 and 0.9 pips - which is way below the 1.9 pips spread that aaafx advertises on their website. But Thinkforex no longer accepts zulutrade - perhaps because of a merger between Zulu and aaafx? this would seem logical. They do have one thing I like: in addition to having MT4, they also offer the cTrader platform, which, not only has an easy-on-the-eyes dark background, but also an easier to use interface (more intuitive than MT) as well as allowing for lower spreads than when using MT4. (Might it be that the MT licensing scheme makes the broker pay a commission on each trade? one can only speculate)
But I intend to give zulutrade a try soon. I'll keep you posted.
