Funding a trading account and starting to trade live is a big step. In my experience, when you hesitate funding the account, it most likely means that you are not so sure about what you gonna be doing when you go live. Excuse me if I’m wrong. On the other hand, I also think that sometimes this is necessary to start trading live at least with some small amount in order to boost the progress on this path. Even if you are no so sure about what exactly your system is, these small losses and wins will definitely become a highly motivational factor to speed up the process.
New user here, but just stumbled upon this thread. I have been using AAFX for about 9 months now, and I haven’t had any issues at all. I have read the scam warnings, but they seem great to me. I have even held some positions for months and there hasn’t been any issue whatsoever.
I totally agree! You can spend ages on demo account. If you will be losing, you’ll keep thinking oh well, at least I’m just losing the fake demo money. If you will be gaining profits, you will get satisfied with an idea how smart you are and fear of having a different result on a live account will keep you from transferring from demo to live trading. Our mind is a bi$ch and it is endorphine and dopamine addict. Demo can give you a lot of these hormones and this will sooth your common sense. But the truth is that the only reason to start trading is to start earning real money.
Correct! Money is the only true motivator to get more professional in trading. I am not pushing anyone to invest all they have into trading account. But as I’ve already said, risking small amounts is necessary to make a leap of progress. Unless u are ok with keeping it all at the gaming level.
I hear you guys. My first reaction on your words was anger. Then protest. Then I thought you just know nothing about me and my situation. However, after thinking about it all for little longer, I realized your words really make sense. My demo account is very profitable. But I know I won’t be able to trade like that on a live account. I know my trades turn out successful most of the cases simply because I forget about my opened positions and just let take profit or stop loss happen. I definitely am afraid to get disappointed in my trading skills if I go live. Thank you, I’ve made up my mind. I’ll fund aafx account with just $100 - the smallest they allow and I won’t care about any bonuses. We will see how it goes.
Glad to hear all worked fine for you. Can you please let us know what were the negative AAFX reviews about? I’m like “alright, let’s go and join the army of AAFX traders”, but her you go with this message For some reason I didn’t notice it before.
I can’t quite understand this. So here we are, some of us have live accounts with AAFX and had positive experience trading and withdrawing the profits. So what it the reason negative review pop up?
here are some reviews
I don’t see this broker is regulated, safety is always the first place
No Major regulation, Multiple guilty cases against them in FPA. Why would someone choose them especially when there are other better options available? Beats me!
Don’t wanna sound naive (I love regulated brokerages either, and would have loved them much more if regulated ones had better trading conditions about spreads and leverage) BUT check out any A+++ rated brokerage and you’ll see they have tons of negative reviews too. There can be a few reasons for that and this is yet another topic of discussion why people do that. I’ll only mention the most obvious one - they belong to true customers who had their accounts blocked for rules violations. I.e they launched HFT algotrading with AAFX, while it’s clearly forbidden with the rules. People often have hard time acknowledging own mistakes. They have no hope to succeed in trading in my opinion.
As for the FPA’s alert, I see it deals with some scam alert, not a violation. Unregulated by HK authorities brokerage attempted to deal with HK investors which was not approved by these authorities and they issued the alert. No other violation detected. Yeap, this is why many brokerages who wish to keep their leverage with no cap (like AAFX) don’t deal with investors from USA, Japan and some other countries. They should have added HK to their black list to avoid this trouble.
You forgot about these funds recovery spam messages. They pop up in every trading-related discussion, in any broker’s thread and claim they’ve lost their funds with THIS broker (they use different broker’s threads, but don’t even change the words and post the same message everywhere) and managed to get the money back with the help of some doctor or professor. Ridiculous, but it still effects broker’s reputation.
Thank you for all the information this seems to be usefull
I see. Thanks for explaining. Have never heard of recovery services before. Can’t believe people can trust such reviews! Isn’t it obvious that if you’ve lost funds trading, you can’t get the money back. It’s like lighting a candle and then ask for the money back cause the candle was burned. I know everyone starts trading cause they want to make profit, but if you’ve made some wrong decisions, no doctor or professor can help.
Exactly. And as well, people don’t always know how to use leverage properly and what lot size they can trade to keep the risks under control. There are special calculators for those purposes. I’m sure you can find such calculators at AAFX official website as well. Or use Google.
I know! I’ve finally funded my live account at AAFX and I was immediately asked to set up the desired leverage level. I can change it if I won’t but for now I’ve decided to keep it 1:200. So the broker won’t let me open a position with the size that exceeds this leverage threshold. I find it very convenient!
I didn’t realize you can set up the upper level of levelege you wanna use for the account at AAFX. You know, I’ve always had this doubt about 1:2000 leverage. Why broker provides it? To tell the truth I thought it was because they wanted us to use it in full in purpose or accidentally and blow our deposits ASAP. If you can set up the max leverage level - this is a different story.
Yeap, this should help. However, if you can’t trade, it won’t help even if trade with no leverage at all. If you know what you are doing, leverage becomes another useful tool that you can use for your benefit and up to your understanding of what is appropriate or not in regard of this tool. Leverage is like a sharp knife. Some can use it to do a surgery, others can cook some food, some can commit a suicide.
Leverage has nothing to do with you blowing your acct. Your risk determines that.
If you are trading, you are using leverage. So, your no leverage comment is puzzling. 1:100 still is leverage. Or are you saying you are doing and advocating 1:1 leverage?