AAFX Trading Review

SCAM
1.623 • 74 REVIEWS
AAFXTrading Company Ltd.
Updated: Aug 15, 2022
AAFXTrading.com
AAFXTrading is a scam forex broker. AAFX Trading offers the Web Trader and MT4 forex trading platforms. AAFXTrading.com offers over 40 forex currency pairs, indices, oil, stocks, commodities, gold, silver and bitcoin for your personal investment and trading options. The FPA recommends against using AAFX Trading.
2020-02-14:  The Japanese Ministry of Finance has issued a warning against AAFXTrading.  CLICK HERE to confirm.
2017-04-25:  AAFX Trading is on the CFTC's RED List.  CLICK HERE to verify.
2017-03-29:  The HK SFC has issued an Unlicensed Entity Alert against aafxtrading.com.  CLICK HERE to confirm.
Scam Confirmation

March 27, 2017:  There is a third FPA Traders Court guilty vote against this company. The FPA now considers AAFX Trading to be a scam.  The FPA warns traders against doing business with AAFXTrading.  If you have money on deposit with this company, the FPA recommends that you try to withdraw it as soon as possible. 

The three cases are:

A client reported that he wanted to withdraw his funds, approximately €67,000.  He was told to wait.  Then is password was changed, locking him of of the account.  Large trades were made wiping out the money.  AAFXTrading claimed they had an email from him asking for a password change, but also claimed the email address has no headers.

Another client reported that he wanted to withdraw his funds, a deposit of €28,804 and profits of €10,346.  He was told he needed to wait more than once.  A few hours before he would finally be allowed to withdraw huge trades (195 lots total) were placed and a large spike wiped out his account.


Another client reported that he wanted to withdraw his funds.  He had over $62,000 in his account with no trades open.  He was given excuses, then his account was locked and there was no further communication from the company.

Scam Confirmation
February 2017:  There are now two FPA Traders Court guilty votes against this company.  The FPA recommends a very high level of caution dealing with AAFX Trading until these issues are resolved.

February 2015-March 2016:  Multiple fake and highly suspicious positive reviews submitted.

SCAM
1.623 • 74 REVIEWS

Traders Reviews

A
Thailand, Thailand (Fake review from inside the offices of AAFXTrading),
Jan 3, 2017,
Registered user

Quality Customer Support (I forgot to mention that I work for AAFXTrading)

Hope everyone having a great newyear. I was just google it about my forex broker "aafxtrading" And the second website on google takes me to here. At first i was surprised to see many bad reviews about this company. So i decided to share my experience. I am 78 years old from Thailand trading with them almost now 3 months and they always give me quality customer support and when i have problem they call me rightaway to help me with my account. I also did submit withdraw once of about $6000 and they processed same day. so far aafx is very good for me. I wish you all again Happy Newyear.
1 trader has found this review helpful
A
Reply by AAFXTRADING Support submitted Jan 23, 2017:
Dear Client,

We appreciate your support

Regards,
AAFX TRADING TEAM
Forex Peace Army
Review moderation team note
5 Star rating removed.

This review came from the same location used by AAFXTrading's representative to submit comments to reviews.

Per FPA policy, the rating on this review has been set to Zero stars.
D
Kaliningrad, Russian Federation,
Aug 9, 2022,
Registered user

Scam

Service use: Live Length of use: 6-12 Months
Scam. I have been trading for almost 1 year and made 1200$ profit, but I after I sent a withdrawal request they removed everything... 100% scam, stay away
T
Italy, Italy,
Dec 13, 2021,
Registered user

SCAM! Warning your money!

Service use: Other Length of use: over 1 Year
He scammed me by clearing my entire 16K euro account by manipulating my MT4 with two obviously fake operations of which I can show screenshots with proof the proves the falsity! Obviously the don't answer me anymore. My complaint and my lawyer's request is ready! Collect your money as soon as possible!! Dont trust these scammers!
S
Maryland, USA,
Dec 4, 2021,
Registered user

Wanted to withdraw but got wiped instead with no trades open. Pure Crooks

Service use: Live Length of use: over 1 Year
This So called company is actually bunch of crooks there to rob you dry and they are quite brazen about it.
They will be nice while you grow your account and will swiftly approve and disburse your withdrawals until your account grows big enough, then they pounce.
I had a combined $21k on 2 accounts that were wiped out after I requested a $7550 withdrawal. They said it’s because my trades were placed at invalid prices whatever that meant.
They have refused to talk about it or respond to my messages ever since. These thieves had the gall to want to re-victimize me by requesting that I pay back negative balances incurred on my accounts as a result of their illegal tampering. It was gut wrenching and I hope somebody holds them accountable somehow, someday.
Do not give these goons your money.

Nov 30, 2021 - 1 Star This just happened to me.
My 2 accounts got wiped and are currently negative. Even though I had no trades on, they claimed it was because I had made suspicious trades in that my previous trades were triggered at wrong prices. Of course that makes no sense at all since Traders only trade prices quoted by their Brokers but yeah, that’s what they claimed. I was waiting for a $7550 withdrawal to clear. They canceled it and wiped out a combined $20k plus account balance. They are pure SCAM don’t even bother with them. I just hope someone holds them accountable
2 traders have found this review helpful
C
USA, USA,
Oct 28, 2021,
Registered user

$5000 vanished into thin air

Service use: Live Length of use: 0-3 Months
The only available way for US customers to either withdraw or deposit is through bitcoin. I was able to deposit $20k over a week period in $5k increments. Then, the last time when i tried to deposit the $5000 went somewhere else and not in my account. I got to find out that the bitcoin address that they provided me with was not one of their addresses. Now, I'm $5000 short and with no way to recover it. I will not do business with them unless they fix their way of withdraw and deposit funds.

Otherwise, no complains from me.
C
Twickenham, United Kingdom,
Sep 30, 2021,
Registered user

I moved to AAFX Trading

Service use: Live Length of use: 3-6 Months
I moved to AAFX Trading on purpose, at that time I was already trading with another broker successfully, but I decided to try a new broker hoping that it would be better. Have my expectations been justified? Yes. Nice broker and it does not even require a big deposit. If to speak about the terms, the spread is very low, there are a lot of instruments - it is true, but speaking of the experience of communication with many traders, I know that most of them never trade futures or exotic currencies, so, this is a very specific broker's advantage. I withdrew only once, for $150, at least that amount was withdrawn, but I know how to choose a company for trading and I would be surprised if I was wrong and AAFX Trading Company had problems with withdrawal. If you are looking for a good reliable broker, you can safely try it.
1 trader has found this review helpful
M
Markus
Malmoe, Sweden,
Sep 28, 2021,
Guest

Stole my total account balance

Service use: Live Length of use: 3-6 Months
Robbed my whole account. Zero left. Not a word from them. Tried to contact the support via email but no response.
I
Isaac Ocasio
Mexico City, Mexico,
Aug 7, 2021,
Guest

I came here from an affiliate link

Service use: Live Length of use: 6-12 Months
I signed up with this brokerage service from an affiliate link he gave to me. Yeah, I did him a favor by letting him earn on me, but I was ready for this and I respect this person. Afterall, he recommended me a good broker he has been trading with for more than two years. So, I saved a lot of time on my research.
I’m a hardcore scalper and this broker more than just suited me in this regard. I traded on their ECN account and it’s greatest advantage is that it comes without commission. None of the brokers I have seen does such a favor. As a rule, ECN accounts come with commission. That’s the price for tight spreads, you know.
However, this ECN account is not a miracle to be honest. The broker put a restriction on it. It’s not allowed to hold a trade for less than 60 seconds. Even if you dare to close it earlier, your profit will be taken by the profit. Perhaps, it’s the liquidity provider’s requirement and the broker has to obey, but I have already adapted to this restriction and it doesn’t prevent me from scalping profitably.
Forex Peace Army
Review moderation team note
A true ECN account instantly transmits your open or close order request to the LP.  A 60 second minimum order time is typically a sign of a broker operating in market-maker mode and needing to hedge its net orders.

Lack of commissions is another sign that a broker is unlikely to be ECN.
J
Jules Lavoie
Lille, France,
Jul 8, 2021,
Guest

Everyone decides 4 himself

Service use: Live Length of use: 3-6 Months
When I was looking 4 a broker, I was convinced that this is always a compromise between solidity and functionality. Many licensed brokers cannot provide access to cryptocurrencies or other interesting instruments. AAFX is registered in Saint Vincent and the Grenadines. This is certainly not the UK. And therefore U can trade cryptocurrencies here.
Moreover such brokers compete for every client. So the tech support here always works at 10 out of 10.
U can also use many different payment systems and the trading conditions are much more favorable. As 4 slipage when the market is at its peak all trades in the queue freeze. And here nothing really depends on the broker.
Everyone decides for himself
H
Hugo Leite
Lisbon, Portugal,
Jun 19, 2021,
Guest

I have been working with AAFX

Service use: Live Length of use: 3-6 Months
Good day. I wanted to say that for all the time that I have been working with AAFX, I have not had any questions for them. The execution is good, both on a cent account and on ECN, quotes are not drawn, money is withdrawn. So here in vain they blame the broker, most likely they simply justify their own failures in trading.
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Frequently Asked Questions

Is AAFX Trading Regulated?

AAFXTrading.com is completely unregulated.  It is registered with the Saint Vincent and Grenadines FSA, but that organization has made it plain that they do NOT regulate forex trading, cryptocurrency trading, or binary options trading. 

AAFX Trading does not appear to be registered with any regulator.

Is AAFXTrading a good and legitimate company?

Since AAFX Trading is not regulated, traders have no regulator to ask to intervene if there is a problem. 

Many FPA members complained about problems with AAFXTrading, and three of them brought FPA Traders Court complaints against the company.  All three ended in guilty votes.  The FPA now considers AAFXTrading.com to be a scam.

You can see many of the complaint made about AAFXTrading by CLICKING HERE.

The Forex Peace Army recommends against depositing money with AAFX Trading.

Are there any regulatory warnings against AAFX Trading?

There is at least one regulatory warning against AAFX Trading.

AAFX Trading Capital / AAFX Trading Company Ltd has earned an Unlicensed Entity alert from the Hong Kong SFC.