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

General discussions of a financial company
Dear Valued Clients ,

I am one of the representative of AAFX TRADING COMPANY LTD. If you have any questions related to our services and conditions feel free to ask. I will answer all your questions.

Regards,
AAFX TRADING TEAM
 
AAFXtrading Is A Scam
I'm a Victim of AAFXtrading. Today is March 8th, 2017, I have been trading with AAFXtrading.com for the past 4 months. I have no problem with platform mt4. I decided to withdraw money from AAFX but they didn't let me withdraw. They excuses. Now, they locked my accounts
1/2132517057
2/2132516423
Total $62,546.09 US dollars with no open trades...
I have been sending many many emails but no reply and I called 61-280035080 Australia 582-81981079 Hongkong no one answered. Please help me and please send me email to aafxvictim@yahoo.com
Super thank you
An AAFXvictim

Level 4, 27 – 20 shelley King Street Sydney NSW 2000, Australia.

Two Exchange Square 8 Connaught Place Central, Hong Kong
.

Suite 305, Griffith Corporate Centre, Beachmont, Box 1510 Kingstown, St. Vincent and the Grenadines.
Number +19142335216, I called this number and it belongs to a company in Westchester, New York USA, AVJ Management

AAFXTrading.com registered their name thru "GoDaddy.com" so they would have more information regarding this company.
 
Dear Valued Clients ,

I am one of the representative of AAFX TRADING COMPANY LTD. If you have any questions related to our services and conditions feel free to ask. I will answer all your questions.

Regards,
AAFX TRADING TEAM

I have two trading accounts opened with your company. On 02/26/2019 approximately at 16.00 GMT the company did not inform or warn, without any reason, blocked both my trading accounts 2132533045 and 2132534223 and nullified the balances on both accounts!!! Immediately after that, they closed the online chat. Also blocked my personal account. My messages that I sent to customer support are not answered!!! On the first account I have open positions that need to be constantly monitored, but I have not had access to my account for 15 hours. It all started after I applied to withdraw funds from my second account. The application was submitted on 02/25/2019 and has not yet been executed. On both accounts a rather big amount. Now I am left with nothing. This is some kind of madness, they do not even respond!!!
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The rules that are all covered in Terms and Conditions of the broker clearly state that EA is allowed. However, profits generated with trades closed in less than 60 seconds will be nulled. No hedging is allowed, no HFT algos either. Make sure you don’t try using any dirty hacks in relation to the trading terminal, else you can run into a situation like the above, where account was blocked. Reading the Rules carefully is very important !
 
Thanks for the answer. I don'ty know any of the dirty hacks you've mentioned, so I guess I'm gonna be safe on this side lol
 
The rules that are all covered in Terms and Conditions of the broker clearly state that EA is allowed. However, profits generated with trades closed in less than 60 seconds will be nulled. No hedging is allowed, no HFT algos either. Make sure you don’t try using any dirty hacks in relation to the trading terminal, else you can run into a situation like the above, where account was blocked. Reading the Rules carefully is very important !
Actually, you were little wrong about hedging. AAFX really has some restrictions on hedging. But they don’t object if you do this using the same account. See here.
AAFX hedging rules.jpg

From what I understood, as long as the company offers the negative balance protection and high leverage at the same time, people could use this situation to perform EXTREMELY risky trades with high leverage in opposite directions for the same asset using two different accounts. Because of the leverage in this case one account can go deep into negative balance and the other will have a significant profit. This may sound like an excellent opportunity in case the negative balance does not cause any liabilities, like it happens with the brokers that have neg balance protection feature.
 
Interesting to know. I wonder how many people tried to exploit this vulnerability before broker decided to write this in the rules. And I also wonder how many more tricks people can come up with if they lose hope to earn money with trading.
 
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