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AZAFX Review - Is it scam or safe?

AZAFX Review - is azafx.com scam or good forex broker?

RATING: 1.8 / 0 REVIEWS AZAFX
AZAFX is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type

Minimum deposit

Minimum trade size

Maximum leverage 

Spreads  

Standard

$100

0.01

1:500

1.8 pips, fixed

 

You may open an account with AZAFX by investing at least $100 and use leverage up to 1:500, micro tradeable lots and fixed spreads on the popular MetaTrader 4 platform. Islamic (swap-free) services are also available with this broker.

 

AZAFX claims to offer pure STP environment with no conflict of interest and no commission fees. The spreads provided by this broker are quite good – fixed at 1.8 pips on EUR/USD, while most fixed-spread brokers offer spreads of 2.0 pips.

 

The Company. Security of Funds

 

Company

Country

Regulation

Azafx International

UAE

N/A

 

AZAFX is a forex brokerage, offering over 45 forex currency pairs, oil, natural gas, index, gold and silver for trade on the industry’s standard MT4 platform. The brand is owned and operated by Azafx International, a company based in the United Arab Emirates that it is not regulated by any authority.

 

Investing in an unregulated broker is a risky business and we generally advise traders to stay away from such brokerages and to select among companies licensed by trustworthy regulators such as UK’s FCA or Australia’s ASIC, for example.

 

Besides, the popular forex forum FPA recommends caution dealing with AzaFx, as there is a Traders Court guilty vote against this company from May, 2016. That is why we do not recommend doing business with AZAFX.

 

Trading Platforms

 

As we have already mentioned, AZAFX supports the MetaTrader 4, the terminal that holds the title “most popular forex trading platform” for more than 10 years now.

 

MT4 offers a number of technical indicators, extensive back-testing environment, advanced charting tools and trading automatization options with the most widely used trading robots (aka EAs).

 

Methods of Payment

 

AZAFX offers the following payment methods: bank wire transfer, credit/debit cards and e-wallets Skrill, Perfect Money and WebMoney.

 

Conclusion

 

Overall, AZAFX’s trading conditions seem standard, although we doubt that it actually utilizes STP technology. However, in our view the main problem with this broker is the lack of regulation. To sum up the above:

 

Pros

Cons

Competitive spreads

Not regulated

STP execution

 

MT4 available   

 

Latest news about AZAFX
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Traders` reviews for AZAFX

Spread

Pros

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Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

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