What We Tested
- Account type: Standard Account ($300 starting balance for test)
- Platform: MT4 Desktop (Outdated version)
- Trading period: 3 months, 45 trades executed
- Pairs tested: EURUSD, Indices CFDs
- Withdrawal tests: 2 successful (Credit Card, Bank Wire)
- Support tests: 3 inquiries via live chat
Testing confirmed the outdated platform interface and noted the sluggish execution speed compared to modern MT4 brokers.
Regulation & Safety
AAAFx holds EU regulation, but its overall market reach is limited:
- HCMC (Greece) – Tier-2 regulation. Provides adequate oversight within Greece/EU.
- CySEC (Cyprus) – Legacy/Limited EU license (used by separate entity).
Spreads & Execution
| Pair/Asset | Standard Avg Spread | Commission (Standard) | Notes |
|---|---|---|---|
| EUR/USD | 1.5 pips | $0 | Wide for commission-free |
| GBP/USD | 2.0 pips | $0 | Wide for commission-free |
| XAU/USD (Gold) | 30 pips | $0 | High cost |
Spreads are wide on the Standard Account (commission-free). No raw spread ECN account is offered for aggressive scalping.
Execution Model and Quality
- Execution Model: Market Maker (Dealing Desk)
- Fill Reliability: Below average. Noticeable slippage and sluggish fills.
- Speed: Slow compared to industry benchmark (<100ms).
Execution is sluggish and inconsistent, making this broker unsuitable for scalping or high-frequency trading.
Outdated Platform Technology
AAAFx relies on older versions of MT4 and lacks any modern proprietary platform, which severely limits its utility:
- No MT5: Limits access to advanced tools and new asset classes.
- Sluggish Execution: Platform performance is slow, leading to frustrating trading experiences.
- Limited Tools: Lack of modern integrated analysis tools found in rivals.
The outdated technology prevents AAAFx from being a competitive choice for any active trader, regardless of its regulatory status.
Account Types & Fees
Standard Account
- Min deposit: $200
- Spreads: From 1.5 pips
- Commission: $0
- Best for: ZuluTrade users or those needing HCMC oversight.
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: Varies (Fees apply to wire transfers and some e-wallets).
- Inactivity fee: $10/month after 12 months of inactivity.
- Swap rates: Standard overnight financing applies; Islamic accounts available.
Deposits & Withdrawals (Tested)
Funding options are basic, and withdrawal fees apply to some methods:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $200 | 1 business day | $0 | Broker covers fees. |
| Bank Wire | $500 | 3-5 business days | Varies | Fees commonly charged. |
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Platforms & Tools
- MetaTrader 4 (MT4): Full support for EAs and custom indicators (outdated platform version).
- ZuluTrade: Integrated social/copy trading platform.
Our Take: The reliance on an outdated MT4 version and the lack of MT5/proprietary platforms make the technology suite below industry standards.
Customer Support (Tested)
AAAFx offers multilingual 24/5 support:
- Live Chat: 24/5, responsiveness is slow/average.
- Quality: Customer service is functional but lacks specialized technical knowledge.
Support is adequate but doesn't compensate for the broker's technical deficiencies.
PROS
- EU Regulated (HCMC, Greece).
- Integrated ZuluTrade social network.
CONS
- Outdated platform technology and slow execution speed.
- Wide spreads on the Standard Account (1.5 pips min).
- High minimum deposit ($200) for a sub-par offering.
- No dedicated ECN/Raw Spread account.
Who Should Use AAAFx?
- Great fit: Traders who solely use ZuluTrade and require HCMC regulatory compliance.
- Not ideal: Anyone prioritizing fast execution, low spreads, or modern platform technology. Avoid.
Final Verdict
AAAFx is an established, regulated broker (HCMC Greece) whose low rating is entirely due to its poor technology and uncompetitive trading costs.
The 1.5 pip spread on EUR/USD is too wide for a modern commission-free broker, and the execution speed is sluggish, making it unsuitable for active strategies.
While fund safety is adequate due to EU regulation, the lack of modern platform solutions places AAAFx in the 'Below Average' category.