AAATrade Review 2024

Quick Links

• Our Review Method

• What is AAATrade?

• AAATrade Pros and Cons

• Awards

• Is AAATrade Safe or a Scam?

• Leverage

• Trading Instruments

• Accounts

• Fees

• Spreads

• Deposits and Withdrawals

• Trading Platform

• Customer Support

• Education

• Conclusion

Our Review Method ▲

In evaluating AAATrade, we meticulously analyzed its offerings by comparing it with over 1000 brokers. Our comprehensive review process includes examining regulatory compliance, available trading platforms, financial instruments, customer service, fees, spreads, commissions, and educational resources. This method ensures that our recommendations and ratings are based on a broad and detailed examination of the broker's overall performance and reliability.

What is AAATrade? ▲

AAATrade is a Cyprus-based brokerage firm specializing in Forex and CFD trading. This broker offers its clients a variety of trading instruments, including CFDs on Forex, Commodities, Shares, Indices, Futures, Bonds, ETFs, and Cryptocurrencies. AAATrade aims to provide a versatile trading environment that caters to both novice and experienced traders, offering robust technology and a wide range of investment opportunities.

AAATrade Pros and Cons ▲

Pros

• Regulated and has a strong track record

• Offers powerful trading platforms and technology

• Suitable for both beginners and professionals

• Low CFD Fees

• Comprehensive range of trading instruments and investments

Cons

• Does not offer 24/7 customer support

• May be better suited for advanced traders

Awards ▲

AAATrade has been acknowledged internationally for its secure trading services and innovative financial technology. The broker is committed to fostering a supportive environment for its employees, clients, and partners, which has earned it accolades for its contributions to the global trading community.

Is AAATrade Safe or a Scam? ▲

AAATrade is a trustworthy and secure brokerage firm, not a scam. It operates under the stringent regulations of CySEC, a renowned European regulatory authority. This ensures that AAATrade adheres to the highest standards of financial practices and client protection.

Is AAATrade Legit?

Yes, AAATrade is a legitimate and regulated Cyprus Investment Firm. It operates in full compliance with CySEC and the MiFID II directive, ensuring a regulated and secure trading environment. The firm's commitment to client fund segregation and adherence to international standards affirms its legitimacy and reliability.

Pros

• Fully regulated and compliant with CySEC and MiFID II

• Offers client fund segregation and negative balance protection

Cons

• Limited to regulation within the European Economic Area

Our conclusion on AAATrade's reliability is that it deserves a Trust Score of 8.5 out of 5, reflecting its good reputation and the high-quality services it provides.

Leverage ▲

Forex trading is renowned for its ability to utilize leverage, significantly enhancing the potential for profit by allowing traders to multiply their initial account balance. However, it's crucial to understand and use leverage wisely as its improper application can also amplify risks.

AAATrade offers leverage in compliance with CySEC regulation, reflecting the European regulation established by ESMA. As a result, traders operating under this jurisdiction are subject to a maximum leverage of 1:30 for major currency pairs, 1:20 for minor pairs, and 1:10 for commodities, ensuring a balanced approach to risk management.

Trading Instruments ▲

Our comprehensive analysis reveals that AAATrade provides access to an impressive array of over 1,000 CFD instruments and more than 60,000 Deliverable assets. This extensive selection allows investors to engage in a wide range of investment activities, from trading CFDs on Forex, Commodities, Shares, Indices, Futures, Bonds, ETFs, to exploring opportunities in 52+ Cryptocurrencies, offering ample scope for portfolio diversification.

Pros

• Diverse range of trading instruments

• Opportunities for portfolio diversification

Cons

• Overwhelming options for beginners

AAATrade's offering earns a commendable score of 4.4 out of 5 for its broad selection of trading instruments.

Accounts ▲

Based on our extensive research across 1000 brokers, AAATrade caters to both novice and experienced traders by offering distinct account types. Moreover, beginners can benefit from a free Demo account, providing a safe environment to practice trading and conduct trial trades without financial risk.

Pros

• Tailored account types for different experience levels

• Availability of a Demo account for practice

Cons

• Limited information on distinct account features

Opening an account with AAATrade is a straightforward process. Prospective traders can easily sign up by visiting the 'Open Account' page, entering the required personal information, verifying identity through document uploads, completing an electronic quiz to confirm trading experience, and then proceeding with a deposit once the account is activated.

Fees ▲

AAATrade adopts a competitive pricing structure, offering commission-free trading for standard accounts while providing an option for professional traders to opt for a commission-based model. Additionally, traders should be mindful of potential inactivity fees and overnight policies, where a rollover, swap, or overnight fee may apply for positions held longer than a day.

Pros

• Competitive pricing model with no commissions for standard accounts

• Clear policy on inactivity and overnight fees

Cons

• Potential costs for professional accounts opting for a commissionbased trading

With an overall rating of 4.2 out of 5, AAATrade's fees are considered low to average when compared to the broader market, based on our analysis of over 1000 brokers.

Spreads ▲

Following our comprehensive evaluation, AAATrade presents its clientele with appealing and variable spreads across select trading instruments. Notably, the broker offers an average spread of 0.4 pips for the widely traded EUR/USD currency pair within the Forex market, positioning it as an enticing option for traders across various sectors. Additionally, AAATrade extends competitive spreads on a range of other financial instruments, further enhancing its appeal to traders engaged in diverse markets. When compared to a broad analysis of over 1000 brokers, AAATrade's spreads receive a commendable low rating, securing an overall score of 4.3 out of 5. In our comparative analysis, we observed Forex spreads to be below the industry's average, alongside competitive spreads for other financial instruments.

Deposits and Withdrawals ▲

AAATrade caters to its clients with several funding avenues, encompassing bank wire transfers, credit/debit cards, and online payment solutions like Skrill and Neteller. It's crucial to acknowledge that each funding method may encompass specific prerequisites and restrictions, contingent on the financial institution involved and the client’s domicile. AAATrade’s funding methods attained a good rating in our assessment, with an overall score of 4.4 out of 5. The fees are notably low, and clients can benefit from a variety of account-based currencies. Here's an overview of AAATrade’s funding methods:

Pros

• Multiple funding methods including Bank Transfers, Credit/Debit Cards, Crypto Wallets, QIWI, Neteller, FasaPay, Skrill, UnionPay

Cons

• Potential internal fees from payment providers

AAATrade distinguishes itself with no minimum deposit requirement for basic services, offering flexibility to traders with varying financial strengths. Nevertheless, for access to advanced and premier services, the minimum deposit escalates to $/€/£ 25,000 and $/€/£ 100,000 respectively, contrasting with the industry's common minimum deposit of $500.

Trading Platform ▲

AAATrade introduces a proprietary platform, AAATrade WebTrader, accessible on both desktop and mobile devices. This platform is recognized for its user-friendly interface yet boasts considerable powerful features. Additionally, the broker offers the MT5 WebTrader, available in desktop and mobile variants, along with the CryptoExchange trading platforms. The web-based platform facilitates trading across any device without the necessity for downloads, enhanced by advanced analytical features and trading capabilities.

Pros

• Proprietary platform along with MT5 WebTrader and CryptoExchange platforms

• No download required for webbased trading

• Advanced features suitable for both novice and professional traders

Cons

• Separate accounts required for Crypto and CFD trading

Customer Support ▲

AAATrade provides 24/5 customer support via Live chat, Email, and Phone lines. The broker’s support team comprises trading professionals adept at addressing technical issues, general inquiries, and operational concerns. Our evaluation of AAATrade's customer support yields a good rating, achieving an overall score of 4.2 out of 5. Responses were prompt and informed, with accessibility maintained throughout the workweek. However, the broker's sole Cyprus entity may impose certain limitations.

Education ▲

Our investigation reveals that AAATrade extends a variety of educational resources and continuous support services to its traders. These resources include multiple packages, in-depth analytics, and potent tools for strategic trading, risk management, and scaling strategies. Nonetheless, the absence of seminars, webinars, or additional research materials was noted. As a result, traders seeking comprehensive educational resources might need to explore other brokers. AAATrade’s education services received a rating of 4.0 out of 5 based on our analysis.

Conclusion ▲

In summary, AAATrade emerges as a well-regulated broker, commanding a strong presence in the trading arena. The broker's comprehensive investment options and STP-operated model allow clients to engage directly with the markets, devoid of any interference or concealed commissions. AAATrade offers an extensive product range and personalized offerings, fostering exciting opportunities and enduring relationships. Furthermore, clients benefit from advanced platform features.

Overall, the broker ensures a secure trading environment coupled with competitive pricing for its instruments, positioning it as a viable option for traders in search of a dependable broker. Nonetheless, we advocate for thorough research prior to selecting AAATrade as your trading partner, to ascertain its alignment with your trading needs. According to our findings and expert opinions, AAATrade is well-suited for:

• Traders from Europe

• CFD and currency trading

• Beginners and advanced traders

• STP/NDD execution

• Competitive spreads and prices

• EA/Auto trading

• Enthusiasts of the MT5 trading platform

• Those seeking quality educational materials and trading tools

• Individuals requiring supportive customer support