AAATrade Broker Review

Commissions & Fees

At AAATrade, commissions and fees depend on the instrument being traded, and the type of account you have.

When trading CFDs, you can open a commission-free Novice account, where the fees are always taken from the spreads, or an Experienced account, which offers low commissions and low spreads. Spreads will also depend on the instrument being traded. There is a financing/overnight rollover fee which is charged when you hold a CFD trade overnight. There are various other fees, such as a 2% exchange fee for transactions which involve an exchange between fiat currencies, and a 1% exchange fee between two cryptocurrencies. All fees are displayed on the website.

Platforms & Tools

The broker offers a very user-friendly browser-based platform, called the AAATrade Web Trader, which is available from any device, as well as a Desktop application which can be downloaded to your PC or Mac. Although the Web Trader platform is designed to work on mobile devices, there is also a mobile app available for both iOS and Android devices, if you find that easier to use or better tailored to your mobile trading needs. There is also the CryptoExchange™, a specialist platform built on proprietary software, allowing clients to trade digital currencies via their browser or an app.

Desktop MT5 can be installed on a Mac

Customer Service

Customer support is available via phone, email or live chat. A list of phone numbers on the contact page provides direct customer service phone lines in 26 countries.

Email support is only available via a contact form on the website, but this seems to work well, with queries replied to fairly quickly. Perhaps the most convenient form of support for most people will be the live chat option, easily accessed via the website. The company runs active social media accounts on Facebook, Twitter, and LinkedIn, offering an extra convenient way to get in contact. There is also an extensive FAQ page on the website, answering common customer questions.

Research

Webinars, e-books, video tutorials

AAATrade prohibited countries:

Afghanistan | Algeria | American Samoa | Bahamas | Bolivia | Bosnia and Herzegovina| Botswana | Cambodia | Ethiopia | Ghana | Guam | Guyana | Iceland | Iran | Iraq | Lao People’s Democratic Republic | Mongolia | Morocco | Nepal | North Korea | Pakistan | Panama | Samoa | Sri Lanka | Sudan | Syrian Arab Republic | Trinidad and Tobago | Tunisia | Uganda | United States | Vanuatu | Virgin Islands, U.S. | Yemen | Zimbabwe

From their website:

We also offer CFD products, which are complex instruments and come with a high risk with losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with AAATrade. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

AAATrade is a reputable, regulated, online broker with a wide and comprehensive range of tradable instruments. Fees and commissions are reasonably competitive, and are clearly laid out on the website. AAATrade offer different account types, to cater to different kinds of customers, and offer excellent support to help new clients get started. The broker provides an excellent service for CFD and Forex traders, and the specialised cryptocurrency platform also makes it a highly attractive option for crypto traders, and those wishing to add virtual currencies to their portfolio.

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