AAFX Trading: reviews on this brokerage and their bonus program

Since last year I’m interested in trading. At the moment I’m considering several brokerages to open a rela money account with. I’ve noticed that many brokerages offer so called bonuses. This usually means that they create a separate bonus account which you can use in case of emergency. For example, if you’ve lost all your initial deposit you can still keep trading with the bonus money and withdraw the profits.

With AAFX Trading brokerage I’ve notices a strange detail. This is the first company that offers a withdrawable bonus. Sounds good. But it would have been too easy to deposit $100, get +$35 and simply withdraw $135 next day. I suspect there must be some condition to be able to withdraw. Does anyone know what is that condition?

I’m also interested in your overall opinion on the brokerage. Any reviews are welcome.

Oh Lawd. Forex trading.:confused:

You cant withdraw a bonus

Have no idea when forex has become a synonym for “money-burning machine”
I’ve got a friend who is making his living with trading and he promised to teach me. But he trades futures. I don’t have much $$ so i need a decent forex broker with small min deposit. Cuz technical analysis is same everywhere as he explained. So I plan to trade forex first and then gradually increase capital till I reach the point when I am a king of the world

LOL
most people gamble instead of trading, this is why “forex” causes so much scepsis and pain. I’ve seen both, people making decent living with trading and families ruined due to the same reason. So simply donn’t risk more then you can lose without falling into despair. And use demo account first!
As for bonuses, why don’t you ask support? Withdrawable bonus is a nonsense if there are no additional requirements. Most likely they will want you to trade a lot and pay enough commissions before you can withdraw. Let us know please when you find out. I’m curious myself.

Thanks man, I know trading is no game. I’ve lost couple thousands on demo accounts already when I tried guessing :slight_smile: It’s different when you start using systematic approach. I’m not an expert yet, but I see I’m progressing. My trades get better every week and I keep a trading journal, spend at least an hour a day analysing my trades. It must work out. I’m too tired of having no hope for better future.

Most of these brokers give you a bonus depending on the amount you deposit but for it to be available to you, you must trade a certain amount of times I.e theres a trading threshold you must achieve.

Basically, if you trade without knowing what you are doing, you will never see that bonus and lose your own cash but if you are a competent trader, utaiona.

I hesitated to ask support for a while, cuz normally when I ask a question they start bombing me with ““incredible”” offers instead of giving a simple answer. Wasn’t too bad this time, so I’ve got the answer now and more questions :smiley:

In most cases you can’t. With AAFX you can. This is actually why I’m considering this particular brokerage. I’ve asked this question in 5 different ways and always get the same answer: bonus is withdrawable :slight_smile:

You are absolutely right! there is a volume threshold. From what I’ve found out with AAFX support is that the necessary volume=bonus amount x 20 000. So if I get $100 bonus, I need to trade $2 million volume. OMG!
Sounds like A LOT. However, as far a I know forex trading is highly leveraged normally, so may be it just seems impossible. I’d appreciate if someone could help with numbers. How many trades with normal risks one must do to fulfill the volume requirement?

1 standard lot is 100,000 volume units of currency. So you’d need to do 20 trades of standard (1@$10/pip) 200 mini (0.1@1$/pip) and 2000 micro(.01@10c/pip) Very achievable but also check if there is a time limit you’ll plan your trades according to this.
KEEP IT SIMPLE, watch the spread! They have no mercy for these accounts and can widen it by over 50 pips draw up a plan and stick to it.

Totally agree! Better choose fixed spreads if the company allows to trade with fixed ones. Also mind to keep the risks under control. It will all depend on the initial depo. Try to keep risk per trade under 3-5% and even lower than that if you plan to invest >1K.

TS, let us know please if you decide to try registering with the broker and, most importantly getting this bonus withdrawn for real. The idea is fascinating, but I seriously doubt it can be true. ALL THE BROKERS I know of use bonus as a mean to increase the margin and trade with. None of them allow withdrawing the bonus.

In fact yeah, I’ve registered with AAFX already and funded the account. They had a holiday special offer and I’ve got 40% bonus. To tell the truth at the moment I really doubt I can complete the bonus requirements. I’ve missed the whole week there due to personal issues. BTW the timing to complete the requirements is 60 days. Pushing the limits a bit to tell the truth. But I guess that’s the point. Not all the traders can pass it. You shall not pass LOL

For goodness sake, don’t push it to the limits. I mean, I know it’s very tempting, but hey, emotions is the most difficult thing to have under control when trading. Poor emotions management will lead to poor risk management and there you and your account are screwed. From what I see your brokers allows huge leverage to be used. Nice for some systems, too bad for those who can’t control their emotional state when trading.

Thanks man, I know what you are talking about. Yeap, AAFX allows leverage up to 1:2000, which is insane. I don’t even know what this kind of leverage can be used for. However, when you start trading you can set up the leverage max for your account, and I’ve set mine as 1:100. So that shouldn’t be the issue. I mean… ok I guess traders sometimes really reach the state of being totally insane, but I bet bonus is definitely not worth it, so I’ll try to keep my risks same and under control. Phew, I feel much relieved now. Kinda a public promise to stay calm and reasonable. Now I’ve got to keep the promise :wink:

Don’t even know what to say. On the one hand I understand it’s better to be on a safe side and really control the risk and keep them to the level you feel comfortable with. On the other hand I’m very impatient to find out whether they really pay out the bonus. In two month it seems really possible to fulfill the bonus requirement on trading volumes. If you don’t simply go guessing the direction but apply at least some kind of a strategy, you won’t be losing more than 10-20% of your account. So of bonus is 35-40%, you’ll still a winner there.

The outcome is really difficult to predict. Moreover, I don’t see a point registering the account for the sake of bonus money only. You are seriously underestimating the potential of a trading career this way. And excuse me, I really think this way of thinking is a path to poverty. Trading profits are easy to scale. Trading gives a lot of freedom to work when you like and how you prefer, accepting as much responsibility and applying as much thoughtfulness as you can. This is a great career, and I wouldn’t suggest anyone to input their efforts in a one-time monetary reward

I understand what you say. Really would be nice to have a great trading system and keep making money with it. But what if you don’t have such a system? What’s wrong with at least getting the guaranteed bonus once?

What’s wrong? You never know what can go wrong and how badly it can go wrong if you are simply trying to make as many trades as required. This is exactly what the problem is! You don’t have a clue what the outcome can be, this is the trouble! Once again, I don’t see a problem combining you trading strategy with the attempt to receive some extra bonus money if broker offers it like AAFX does. But I totally reject the idea anyone should trade randomly, as it is very easy to lose 100% of your deposit in couple weeks if you do so, don’t understand how leverage work and keep buying and selling at random. Combining real trading and bonus - great! Go for it! Putting effort and risking money for one-time gift from a brokerage? Nah, I’ll pass.

In my experience I only dealt with brokers that offer bonus as a mean to recover the trading account that has experienced a sufficient loss. In this case you can use the bonus money to maintain the margin and continue. I can’t disagree with the statement that trading at random is a wrong thing to do, however, +35% of withdrawable money to your initial deposit can excuse some extra risks taken to get such a bonus.

OMG, go ahead, I’m not keeping you away from it. In fact your argument does make sense. But we are traders here, correct? So let’s get very precise here and point out that if you are having a potential of +35% but risk 100% of the capital - its not worth it.