AAFXTrading.com (Warning - This broker earned a SCAM label)

Purekiller

Recruit
Messages
99
This is normally the tool that binary brokers use, when you either lose or win the fixed amount if the price goes up or down according to your prediction. Risk free trades are offered as a prize in the tournament or that can also be a welcome bonus.
Just thought you might be interested.
From what I see AAFX is not a binary broker, that's why they don't offer these.
 

Vo32ss

Private, 1st Class
Messages
63
Does the broker have any limitations for daytrading apart from 60 seconds rule?
 

Spellkiller

Private, 1st Class
Messages
65
Well, we've found out already that EAs are allowed, including intraday ones. I don't see much of a hassle to daytrade here. On the other hand, considering they've got enough stocks and no swaps or overnight trading fees, they seem to be more of an investment opportunity for small depos. But that's my HO. I don't insist on such a qualification of the broker.
 

Vo32ss

Private, 1st Class
Messages
63
Gotcha, tnx. Personally I'm interested in descrete daytrading, and for some of my ideas the leverage they offer wouldn't hurt. I'm just wondering here if there any unexpected obstables that can arise when I don't expect those, so I'm kinda trying to learn a bit more from real customers.
 

Shalirad

Corporal
Messages
111
Well, I've traded long enough with AAFX to know all their pros and cons. IMHO, the bonus requirement is very difficult to fulfill and it may lead some traders into a riskier trading style than what was meant by their initial plan. This is the cons.
Trading fees and nice executions is a definite pro.
You've mentioned planning to use 1:2000 leverage. Averaging strategy, I assume?
 

Vo32ss

Private, 1st Class
Messages
63
got me :) yeah kind of an averaging. Trend-oriented though and there area few other details that I wouldn't want to speak out loud here. no SWAPs and big leverage - that's a nice combo. Testing it with the demo for now, but I'm ready to rock :D
 

Shalirad

Corporal
Messages
111
Well, all I can do is wish you a good luck. I do hope you know what you are doing. On the other hand.. sorry to disappoint you, but averaging killed more depos than anything else in the world of finance, I believe. That's a typical newcomer's myth that you can make the approach any different from a russian roulette by simply adding a few more rules.
 

Vo32ss

Private, 1st Class
Messages
63
Thanks for the risk warning, bro. That's a big concern for sure. Yet, playing a russian roulette having 100 empty chamber in the revolver is much more favorable, than doing the same with 5 empty slots. That's why I like the leverage the broker gives this much.
 

Purekiller

Recruit
Messages
99
I didn't quite get the analogy. Would be lovely to find out why averaging is a sort of a modified russian roulette in your opinion.
 

Vo32ss

Private, 1st Class
Messages
63
I think the initial presupposition is that when averaging trader faces the risk to lose all he's got, because even though it seems unbelievable that someone might make dozens of wrong trades one after one, this is still possible.
I made a note though that in traditional game, your chances to lose are 1:5 exactly, while in trading we can significantly decrease the chances to lose by adding some systematic approach, playijng along with the trend, etc. So the chances to lose everything get very small. 1:100 is not an exactl number and the number depends on how accurate your observations of the market actually are.
My demo deposit at AAFX has nearly trippled now, in only 2 months. I think I'm ready to go live now.
 
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