AAATrade Overview: What You Must Know About the Cyprus Based Brokerage Firm?
AAATrade is a Cyprus based firm that was founded in 2013. The broker offers services to institutional and retail traders. The brokerage firm offers traders with multiple financial instruments including 100 CFDs and more than 60000 assets, including forex, shares, commodities, futures, indices, ETFs as well as over 52 cryptocurrencies. Continue reading to find the AAATrade Review.
AAATrade offers multiple trading platforms, including the proprietary AAATrade WebTrader, that can be accessed through desktop and mobile devices. Apart from this, the broker also offers access to a crypto exchange that is used for trading cryptocurrencies only.
In essence, the broker provides the MT4 platform for trading that can be accessed through the web, mobile, and desktop. The MetaTrader4 interface offers a diverse set of tools as well as resources for trading aside to the Expert Advisors and in-built technical indicators that make trading quick and hassle-free.
Trading Account Types
In the case of AAATrade, the broker offers its clients the option to choose from a spread based account as well as a commission-only account. It must be noted the spread based account comes with commissions that are a part of the spreads. This type of account is best suited for new traders. On the other hand, the commission only account is ideal for the experienced traders that long for small spreads along with commissions. This enables them to trade when situations are favorable for them. Also, traders can either choose to set up a CFD based account or set up a separate account for trading cryptocurrencies.
The minimum deposit required for opening an account with AAATrade is 500$. However, for advanced services, you need to maintain a minimum amount of 25,000$, in addition to paying interests. As far as spreads are concerned, AAATrade offers floating spread and no commission on their standard accounts.
When we created a demo account to determine the broker’s spreads, we discovered that the spreads for the EUR/USD currency pair were around 1.8. The leverage, on the other hand, is 1:200, which is much lower when compared to others.
Deposits and Withdrawals
One must also pay heed to a broker’s deposit and withdrawal options when it comes to entering the trading market. In the case of AAATrade, the broker accepts deposits through FasaPay, Neteller, Bank Transfers, Crypto Wallets, Credit/ Debit Cards, Skrill, QIWI, and UnionPay. Also, funds are accepted in GBP, EUR, and USD.
Withdrawals at AAATrade are processed after a request for the same is placed through the trader’s trading account. Typically, the broker takes around 24 hours to process the order. However, the duration may vary by the method of withdrawal.
It is extremely important to choose a regulated broker. With AAATrade, you won’t have to worry about the safety of your funds, since the broker is regulated by the CySEC and follows the procedures laid down by the MiFID. Apart from this, AAATrade is also a member of the EU regulatory authorities, including Spain’s CNMV, UK’s FCA, and Germany’s BaFin. Client accounts are maintained separately in premier Swiss Banks.
In a nutshell, AAATrade is a fully regulated broker that provides commission-free online trading. However, the broker does not allow scalping and has fixed only.
|Broker Type||Market Maker|
|Base Currency||EUR, GBP, USD|
|Minimum Deposit||500 USD|
|Islamic Account (Swap Free)|
|Deposit Methods||Cash-U, Credit Card, Neteller, PayPal, QIWI, Skrill, Webmoney, Wire Transfer|
|Withdrawal Methods||Cash-U, Credit Card, Neteller, PayPal, QIWI, Skrill, Webmoney, Wire Transfer|
|Trading Platforms||Web Trader, MetaTrader 4, MetaTrader 5|
|Commission on Trades|
|No Deposit Bonus|
|Support During Weekends|
|Support Language||English, French, German, Italian, Portuguese, Russian, Spanish|
|Telephone||+44 203 769 2245|
|Address||205, Arch. Makarios III Ave., Victory House, 1st Floor, 3030, Limassol, Cyprus.|