AoFeng Forex Broker

Company NameAoFengFounded2018HeadquartersAustraliaRegulationsSuspected cloned regulationsTradable AssetsForex currency pairs, commodities, indices, cryptocurrenciesAccount TypesBasic Account, Advanced Account, VIP AccountMinimum Deposit$100Maximum Leverage1:200SpreadsStarting from 1 pipsCommissionNo commissionDeposit MethodsBank wire transfers, credit/debit cards, electronic payment systemsTrading PlatformsMetaTrader 4 (MT4)Customer SupportPhone, email, live chatBonus OfferingsNoneAoFeng Information AoFeng is an online brokerage firm in Australia, which was established in 2018. It provides trading instruments such as forex currency pairs, commodities, indices, and cryptocurrencies.Is AoFeng Legit? AoFeng holds an ASIC license, but its regulatory status is suspected to be cloned, posing a risk of being a fraudulent replica. Pros and ConsProsCons/Suspected cloned regulations/Lack of regulatory oversightWhat Can I Trade on AoFeng? AoFeng provides a wide array of trading instruments in order to meet the requirements of various traders. Clients gain access to numerous financial markets, encompassing forex currency pairs, commodities, indices, and cryptocurrencies.Tradable Instruments Supported Forex✔Commodities✔Crypto✔CFD❌indexes✔Stock❌ETF❌Options❌ AoFeng Fees Spreads and commissions provided by AoFeng vary by market, instrument and account type. Major currency pairs such as EUR/USD and GBP/USD spread by about 1-3 pips during normal marketconditions, exotic currency pairs and low-frequency trading instruments spread by about 3-5 pips. Aofeng implements a commission-free structure for most trading instruments.Non-trading Fees ✔Deposit Fee ✔Withdrawal Fee ✔Inactivity Fee ✔Trading Platform AoFeng offers the popular and widely recognized MetaTrader 4 (MT4) trading platform to its clients.Deposit and Withdrawal The minimum deposit requirement at AoFeng is $100, allowing traders of different budget sizes to start trading. For deposit methods, clients can usually choose from bank wire transfers, credit/debit cards, and electronic payment system.