AAFX Trading Review
Reason to avoid: Offshore company. Negative Reputation.
Listed Date: October 3, 2018
Top 3 Regulated Forex Brokers
Beware AAFX Trading is an offshore broker. It is NOT SAFE to trade.
- Company name:
AAFXTrading Company LTD. AAFX trading Capital.
- Registration Address/ License:
St. Vincent and the Grenadines. Representative offices in Honk Kong and Malaysia.
- Registration requirement: 2,000$
AAFX Trading is an investment company specializing in stocks, commodities, CFDs and currency trading through its incorporated and registered office in St. Vincent and the Grenadines (SVG). However, SVG is a known area for its very liberal zone with a slight regulation of the financial companies comparing to other reputable authorities that requires a way more strict compliance that ensures a higher level of clients’ protection.
Moreover, the broker claims its incorporation and registration in Malaysia under the business solutions company SDN BHD and operation of the office in Hong Kong. Yet, there is no any other regulation that the company does comply with, therefore the company chooses the easiest and cheapest way to perform and deliver its financial services to international clients. Being unregulated in Hong Kong, the company appears in SFC warning list that prevents clients from an investment with the AAFX Trading company (check warning here).
In addition to that, there are numerous negative reviews about the company services, along with the guilty verdicts about scam operation. The AAFX Trading clients faced typical fraud issues while tried to withdraw profits, the company gave numerous excuses why the request can not be performed. As well as the issues with trading manipulations, faking the facts of the requests, etc. Overall, these issues do not give a positive opinion about the company and just causes suspicious questions in their regards that might cause significant capital losses.
That is why we do always recommend to invest only with the regulated brokers only that are located among the reputable jurisdictions and offer respective overseen investment services. These companies are overseen and reporting regularly about every step they do or treat the client, which protects investors by many means.