AAA Trade Review
AAA Trade basically offers a single commission-free Standard account with fixedspreads and leverage up to1:200 on the industry`s standard MetaTrader 4 platform.
Swap-free accounts which are Sharia-compliant are also available to clients of Islamic belief upon request.
The Company. Security of Funds
AAA Trade Ltd.
AAA Trade Ltd., trading under the brand AAA Trade, is a fully licensed EU-based investment firm, authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
CySEC applies certain requirements to license holders and sees to the compliance with the rules set. For instance, customer funds must be held in segregated accounts. Besides, the Commission requires forex brokers to hold at least €1,000,000 as a proof of good financial standing.
As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation to its covered clients up to 20,000 EUR, in the event a regulated broker becomes insolvent or ceases trading.
Moreover, every CySEC-regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU under the MiFID Passporting Regime.
Minimum Initial Deposit
In order to open an account with AAA Trade, traders have to invest a minimum of $500, which is average for the market. Yet, other Cyprus-based brokers require lower minimum initial deposits. For instance, Easy-forex demands $25 and FXTM – just $5 from its clients as a start. Obviously this broker`s target group is institutional and high-volume traders, taking into account that the minimum trade size is 0.1 (mini lots).
Spreads & Commissions
AAA Trade offers fixed spreads, which are comparatively good – 1.8 for the EUR/USD pair, while most fixed-spread brokers offer a spread of 2 pips or higher for this pair.
In comparison, Exness provides fixed spreads amounting to 1.7 pips and variable ones on EUR/USD are averaged 0.4 pips on EUR/USD, plus a commission of to $ 2.5 per standard lot (per side). For more information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage level offered by AAA Trade is 1:200, which is considered a industry standard ratio. However, many Cyprus-based brokers offer even higher levels – for example, XM provides leverage up to 1:888 and FXTM – up to 1:1000. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here.
Nonetheless, we advise traders to exercise caution when trading on margin, as higher leverage involves greater risk of losses, which may even exceed the initial investments.
This broker supports the renown MetaTrader 4 (MT4), desktop, web and mobile versions available.
MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options. Traders can download ready-made or create their own EAs and let the program do all the work.
Unfortunately, this broker does not allow scalping.
Methods of Payment
The following payment methods are available to AAA Trade clients: credit/debit cards, bank wire transfer, and e-wallet payment systems, such as WebMoney, Яндекс,Qiwi,Skrill, Neteller.
Accepted currencies: GBP, USD, EUR.
AAA Trade is a well-regulated broker that offers online in more than 20 forex currency pairs, indices, stocks and commodities CFDs through the famous MT4.
AAA Trade Review Conclusion
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