AZAforex foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://cabinet.azaforex.com/auth/registration, about the company's legal and temporary regulatory information, the company's address Marshall Islands Majuro Trust Beach Lodge Apartment Complex, Lagoon Road, Batkan Village 96960.
AZAforex Forex Broker
Basic Information
Marshall Islands
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
VIP
PRO
AZAforex Broker - Complete Information Guide
1. Broker Overview
AZAforex, established in 2016, is a globally accessible forex and CFD broker based in Saint Vincent and the Grenadines. The company operates as a private entity and caters to a diverse clientele, including retail traders and institutional investors. With a commitment to providing a user-friendly trading environment, AZAforex has rapidly grown its user base, boasting over 120,000 registered clients. The broker's primary services include forex trading, CFDs on various assets, and binary options, making it a versatile platform for traders seeking multiple investment opportunities.
The company has made significant strides since its inception, focusing on enhancing trading conditions and expanding its service offerings. Despite being unregulated, AZAforex positions itself as a reliable broker by implementing features such as negative balance protection and segregated client accounts. The broker operates under the umbrella of AZA Pro LLC, which emphasizes its commitment to client security and service.
AZAforex adopts a retail forex and CFD trading model, allowing clients to engage in leveraged trading across various financial instruments, including commodities, indices, and cryptocurrencies. The broker's business model is designed to provide traders with minimal barriers to entry, highlighted by a low minimum deposit requirement of just $1.
2. Regulation and Compliance Information
AZAforex operates without regulation from any major financial authority, which poses significant concerns regarding the safety of client funds and transparency. The broker is registered in Saint Vincent and the Grenadines, a jurisdiction known for its lax regulatory environment. As such, AZAforex does not hold any licenses from recognized regulatory bodies, which is a critical factor for potential traders to consider.
The lack of regulation means that AZAforex is not obligated to adhere to strict financial standards, and clients may not have recourse in case of disputes. The broker does not participate in any investor compensation schemes, which further heightens the risk for traders. However, AZAforex does implement certain compliance measures, such as KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols, to mitigate risks associated with illegal activities. The broker's KYC policy requires clients to verify their identity by providing reliable documentation, while its AML measures include transaction monitoring and risk assessments.
3. Trading Products and Services
AZAforex offers a comprehensive range of trading products, catering to various trading preferences. The broker provides access to 70 currency pairs, including major, minor, and exotic pairs, allowing traders to capitalize on global forex market movements. In addition to forex, AZAforex offers CFDs on several asset classes, including:
- Indices: Access to 12 major global indices, such as the NASDAQ and S&P 500.
- Commodities: Trading options include gold, silver, and oil.
- Cryptocurrencies: The broker provides CFDs on 10 cryptocurrencies, including Bitcoin and Ethereum.
- Binary Options: AZAforex offers over 50 binary options, allowing traders to speculate on short-term price movements.
The broker frequently updates its product offerings, ensuring that traders have access to a wide array of instruments. This diversity allows clients to implement various trading strategies, from day trading to long-term investments.
4. Trading Platforms and Technology
AZAforex utilizes its proprietary trading platform, Mobius Trader 7, which is designed to provide a seamless trading experience. While it is not as widely recognized as the popular MetaTrader 4 or MetaTrader 5 platforms, Mobius Trader 7 offers a user-friendly interface and essential trading functionalities. Key features of the platform include:
- Web-based and Mobile Applications: The platform is accessible via desktop and mobile devices, allowing traders to manage their accounts on the go.
- Execution Model: AZAforex operates on an ECN (Electronic Communication Network) model, ensuring direct market access and competitive pricing.
- Technical Analysis Tools: The platform includes basic charting tools and indicators, but it may lack the advanced features available on more established platforms like MetaTrader.
- API Access: While specific details on API integration are not extensively provided, automated trading is supported through the proprietary platform.
The reliance on a proprietary platform may raise concerns about transparency and market data accuracy, as it does not offer the same level of external validation as more established trading platforms.
5. Account Types and Trading Conditions
AZAforex provides three main account types designed to cater to different trading needs:
- Start Account: Requires a minimum deposit of $1, offering wider spreads starting from 1.1 pips. This account is ideal for beginners looking to explore the forex market.
- Pro Account: Requires a minimum deposit of $2,000, with spreads starting from 0.1 pips. This account is suitable for more experienced traders seeking better trading conditions.
- VIP Account: Requires a minimum deposit of $10,000, offering ultra-low spreads starting from 0.00001 pips. This account is tailored for high-volume traders who demand optimal execution conditions.
Each account type provides access to all tradable instruments and features, including PAMM accounts and loyalty bonuses. The leverage offered by AZAforex can go up to 1:1000, which is significantly high compared to many regulated brokers. However, such high leverage increases the potential for significant losses, especially for novice traders.
6. Fund Management
AZAforex supports a variety of deposit and withdrawal methods, enhancing its accessibility for traders. Supported methods include:
- Deposits: Clients can deposit funds using credit/debit cards, bank wire transfers, and various cryptocurrencies. The minimum deposit requirement is $1 for the Start Account, while higher deposits are required for Pro and VIP Accounts.
- Withdrawal Methods: Withdrawals can be made through the same methods used for deposits. AZAforex does not charge fees for deposits or withdrawals, although clients may incur network fees for cryptocurrency transactions.
- Processing Times: Deposits are typically processed within the same day, while withdrawals may take up to 24 hours to process, depending on the method used.
The absence of deposit and withdrawal fees enhances the broker's appeal, making it a cost-effective choice for traders.
7. Customer Support and Educational Resources
AZAforex offers customer support through multiple channels, including:
- Email: support@azaforex.com
- Phone: +447723399001
- Live Chat: Available on the website
- Social Media: Support through Telegram and WhatsApp
Customer support is available 12 hours a day, from 8 AM to 8 PM UTC, which may be insufficient for traders needing assistance outside these hours. The broker provides support in multiple languages, catering to its diverse client base.
In terms of educational resources, AZAforex offers basic trading guides and market analysis tools. However, the educational content is limited and does not include comprehensive resources like video tutorials or webinars. The broker's blog features insights and trading tips, but the frequency of updates is inconsistent.
8. Regional Coverage and Restrictions
AZAforex serves a global market, accepting clients from various countries. However, there are specific regions where the broker does not provide its services, including:
- United States
- United Kingdom
- Japan
- Canada
- Israel
The broker's operations are primarily based in Saint Vincent and the Grenadines, with additional offices in London. This offshore registration allows AZAforex to operate with fewer regulatory constraints, but it also raises concerns regarding fund safety and compliance with international trading standards.
In conclusion, while AZAforex presents a range of attractive features for traders, including low minimum deposits and diverse trading instruments, the lack of regulation and mixed user reviews necessitate caution. Potential clients should thoroughly research and consider the risks associated with trading through an unregulated broker before making a decision.
AZAforex Similar Brokers
Latest Reviews
FX1354276292
Cambodia
Reliable company! I had a very good impression of the company. A large selection of trading instruments, and high speed of order execution - that's what I like about AzaForex. In addition good analytics on the website.
Positive
2023-03-10
FX2298113204
Mexico
They did not let me withdraw more than $400 that I had in my account. The person made fun of me, because when I try to withdraw, it goes out of the account. my investment at the beginning was 600 pesos, and also the customer service they have is very bad
Exposure
2022-02-28
FX3550740498
Netherlands
I just took random short-term 30 sec trades I know I lose, but it helps for evidence purposes. Repeatedly I said 5 minutes, till 30 seconds trades are all manipulated and without a miracle impossible to win. With such big price manipulation and Scams. Look at this live example I took: how AZAForex manipulated and stole all my money. Option: EUR/USD *Initial trade Open price: 1.08295 *Manipulated Open Trade close price 1.08307 *📈 Correct Chart close price 1.08286 👉PLEASE Pay Attention now: If Close price differences b/n the manipulated open option trade 1.08307 minus the correct chart close price 1.08286 gives us a 21 price difference. If AZAForex was a reliable platform and not manipulated, the close price on the correct chart reading 1.08286 must be the same as the open option trade close price. This means the Manipulated 1.08307 price must also close at chart reading price point 1.08286. 👉PLEASE pay attention again here: If the price was not manipulated and the open option trade close price was the same as the correct chart close price that is 1.08286 AND THEN See above my initial strike point price of 1.08295 and the trade TYPE was Sell/Put the trade would have been WIN!! Due to this trade manipulation, I lost. *Trade type: 30 second Trade close time: 15,32.07 Yes, this is how this thieving illegal AZAForex organization steals people's money. I have been able to prove his illegality and theft time and time again. This was the exact information the screen showed before the trade ended: #ID: 2161813 (A) Open Price: 1.08336 #ID: 2161811 (B) Open Price: 1.08330 As soon as the trade ended, however, the numbers were changed and counted. The Open Price (A) number rose to 1.08349 and The Open Price (B) number moved higher to 1.08343. Take a good look at the screen evidence. This is how they blatantly cheat. ONLY after-hours trades where the fraudulent staff are not live will likely yield results. There is blatant fraud everywhere the survivors work.
Exposure
2024-07-09