Reason to avoid: Numerous complaints.
Listed Date: September 25, 2018
Top 3 Regulated Forex Brokers
- Company name:
- Registration Address/ License:
Greece. EU authorized.
AAAFx is an online Forex broker with its headquarters in Athens that claims to be regulated in Europe and offers an exceptional trading experience with outstanding customer support. The wide offering covers the high level of leverage, constantly updated offering of trading instruments with recently included Bitcoin and with possibilities to autotrade or use industry leading MetaTrader4. Yet, there is a highly risky offering to trade as well which represents Binary Options that are restricted in many jurisdictions since put capital at highest risk.
However, not everything seems to be not that good as it said within the brokers’ operation. The vast number of the complaints from the traders in regards to the performed operation disappoints, which share some of the “broker tricks” while trading, as well as numerous operational, misleads along to the misleading information at the official source. Moreover, it is not clear enough how exactly the company is regulated, since the authorization is received from the local bank, thus which kind of rules they do comply with and if in general their services are supervised.
In addition, one of the industry leading regulators of Forex industry CySEC (Cyprus) published a warning statement although that the firm is regulated by another jurisdiction thus are not authorized to provide its services.
Overall, since trading involves significant risks we hardly advise to all traders notwithstanding their expertise level, we do advise to select broker carefully from the list of the regulated brokers. The strictest authorities alike ASIC (Australia) or FCA (UK), as well other respected organization require strong implementation of the customer protection and standardizes the performance, thus the clients will trade under the safety with the most possible level of protection.