AZAforex Forex broker review — Everything you need to know

AZAforex is the company’s trade name, which is a Forex and CFDs broker offering its series globally without licenses. The broker has several accounts and has very low minimum deposit requirements. In the following review, we will assess its most critical features to define its safety, accounts, pricing, support, platforms, markets, and much more.

AZAforex Safety Revealed

When it comes to safety, AZAforex is not regulated by any authority, which is a serious red flag. Unregulated brokers are very risky and many of them are scams, which makes it a very bad idea to trust them with your funds. As a result of being unregulated, we can not confirm that the broker keeps trader funds in segregated bank accounts.

AZAforex provides negative-balance protection, preventing traders from losing more than their initial investment. This is an important policy and prevents traders from being liable if they go into minuses as a result of high-leverage trading.

AZAforex Overview of the website

The website of AZAforex is responsive and provides all important details in a well-ordered manner. Traders can navigate through the menu to find details about accounts, markets, platforms, and support. There is a built-in plugin for live chat to contact the broker right away and resolve any issues in trading, which is very important.

Overall, the website is satisfactory and serves its function really well.

AZAforex Accounts Reviewed

The broker offers three different trading account types, Start, Pro, and VIP accounts. To see how competitive the broker’s offerings are let’s briefly evaluate each of the accounts and see their specs.

AZAforex Start Account

The Start account is a general trading account that offers a minimum deposit of just 1 USD, which makes the broker very beginner-friendly. The spreads start from 1 pip on major pairs like EUR/USD, which is well within the industry standards. This account, just like others, also offers 49 binary options for speculating. Binary options are highly speculative instruments and traders should be careful when trading these gambling assets on a platform that is not regulated. This account is an STP account and charges no commissions for trading.

AZAforex Pro Account

The pro account is a trading account that offers ECN pricing with spreads from 0.4 pips, which is very competitive in the sector right now. The minimum deposit, however, is higher, starting from 2,000 dollars. This is surely not competitive as many reputable brokers are offering ECN pricing at much lower minimum deposits. This account is also available in a swap-free option, which is flexible. There are 50 binary options offered on this account for speculation. The maximum leverage is up to 1:1000.

AZAforex VIP Account

The VIP account has the highest minimum deposit requirement but offers the lowest spreads. The minimum required capital here is 10,000 dollars, and spreads start as low as 0.01 pips, which is very advantageous. The maximum leverage is up to 1:1000, and traders can also access up to 50 binary options.

Deposit and withdrawal options at AZAforex

When it comes to payment methods, the broker accepts a multitude of options, such as Visa, Mastercard, wire transfers, cryptos, and several e-wallets. Deposits are fee-free, and withdrawals are promised to be processed quickly, but we can not confirm that the broker actually allows fast withdrawals. Since it is unregulated, the chances of it being a scam are higher, and traders should be careful.

AZAforex Assets — What can you trade?

AZAforex offers access to a multitude of different classes of assets, including Forex, precious metals, energies, indices, stocks, CFDs, cryptocurrencies, vanilla options, and binary options. This is truly diverse and even binary options traders will find many of their favorite instruments, which is advantageous. However, the broker is not regulated, and trading binary options with unregulated platforms is a super risky endeavor.

Trading platforms of AZAforex

The broker offers access to MobiusTrader 7, a multi-asset, multi-platform trading terminal that supports a multitude of devices including desktop and mobile, and there is also a web terminal available. Mobius Trader 7 includes an “Algorithm Studio”, allowing traders to develop and back-test trading algorithms (EAs). The platform also offers a large indicator base and supports custom indicators and the broker allows traders to use both custom indicators and automated trading systems. Among devices, the platform supports Mac, iOS, Windows, and Android, which is advantageous.

Education at AZAforex

The broker lacks comprehensive educational resources as it only offers trading blogs, which is not enough. The blog contains posts about the latest market news and developments. Additionally, the broker also offers an economic calendar and daily trading analysis.

AZAforex Customer Support

The broker actually does a good job of providing several customer support channels like email, live chat, and phone support. The availability of phone support adds to the broker’s credibility and is an important support option. However, the website and support are only available in the English language, which is a downside.

Is AZAforex your broker? Final verdict

AZAforex is a multi-asset, Forex, and binary options trading broker offering Forex, CFDs, cryptocurrencies, precious metals, energies, indices, stocks, vanilla, and binary options on its MobiusTrader 7 platform. While its 1 USD minimum deposit, 1:1000 leverage, and negative balance protection are attractive features, the absence of any licenses represents a major risk for traders.

FAQs on FXCess broker

Where is AZAforex based?

The broker discloses its address on its website, which is Marshall Islands. However, the broker is not regulated there and traders should be cautious.

Can you withdraw from AZAforex?

Yes. AZAforex accepts withdrawals via bank wire, credit/debit cards, e-wallets, and cryptocurrencies. However, it is an unregulated broker, which makes it risky.