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AZAforex Review 2024

Written By

Tobias Robinson

Written By

Tobias Robinson

Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.

» Tobias Robinson Profile Page

Fact Checked By

William Berg

Fact Checked By

William Berg

William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

» William Berg Profile Page

Updated

Jun 28, 2024

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Available in United States

Overall Rating

3.4 / 5

AZAforex is #8 in our binary options broker rankings.

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Customer Reviews

Minimum Deposit $1

Trading Platforms Own

Instruments CFDs, Forex, Stocks, Cryptos, Commodities

Regulators

Account Currencies USD, THB, VND, UAH

Payment Options QIWI, Volet, Debit Card, Credit Card, Wire Transfer, Perfect Money

Pros

• 16 fiat and 6 crypto account base currencies
• Range of crypto, e-wallet, credit/debit card and wire transfer options
• Loyalty bonuses and rebate program

Cons

• Limited educational content and resources
• Withdrawal fees for some payment methods
• Unregulated broker reduces its safety score

AZAforex is an offshore broker offering a wide range of forex, crypto, CFD and binary options trading on its own Mobius Trader 7 platform. The firm offers competitive leverage rates, fees and execution systems. This 2024 AZAforex review will explore the firm’s payment methods, account types and trading platforms so you can make an informed decision regarding opening an account.

AZAforex Headlines

AZAforex was founded in 2016 by a group of financial professionals. Today, it provides brokerage services to traders and companies across the world. Clients can trade forex, cryptocurrencies, CFDs, indices and commodities via the proprietary Mobius Trader 7 platform.

The company is registered offshore and is licensed to operate under St Vincent and the Grenadines law. Headquarters are located in Kingstown, St Vincent and clients can trade with AZAforex from all over the world, joining an active community of over 122,000.

AZAforex offers a range of assets, payment methods, tools and strategies. It is a liberal trading environment that may appeal to those with a high-risk appetite, while it could spell big losses and possibly even the end of a trading career for others.

Trading Platforms

The Mobius Trader 7 is the only trading platform supported by AZAforex. It is a proprietary platform that offers access to a range of global markets, as well as market execution and ECN tools.

Mobius Trader 7 is an integrated, feature-rich platform. Clients can choose from 16 base currencies and trade with spreads as low as 0.00001 pips. The platform supports high-speed execution and closing and all accounts can be accessed from a single portal.

Clients can trade freely on the Mobius Trader 7 without broker intervention. All trading strategies are supported, including scalping and hedging, and there are no restrictions on stop and limit levels.

The key features of the Mobius Trader 7 include:

• Advanced charts and tools for analytics
• Flexible functionality
• Multiple order types
• Economic calendar
• One-click trading
• Reports

Mobius Trader 7 is available to download on desktop and mobile devices. There is also a web version for browsers.

Products

Clients can access all major markets and trade a wide range of instruments including:

• Forex – 72 major, minor & exotic currency pairs
• Commodities – Five precious metals and three energies
• Cryptocurrencies – Ten cryptos, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Monero
• CFDs – stocks and forex
• Binary Options – 107 binary options contracts with 90% max payouts
• Indices – Six global equity indices

AZAforex also supports anonymous trading when funded using cryptocurrency.

Spreads & Fees

AZAforex generally offers variable spreads accounts, though VIP account holders can opt for fixed spreads. Spreads start at 0.1 pips for VIP accounts, 0.5 pips for Pro accounts and 1.1 pips for Start accounts.

Leverage

The maximum leverage available is 1:1,000. This is very competitive, especially compared to brokers regulated by top tier bodies like the FCA and ASIC. Whilst leverage provides the opportunity to make a big return on a comparatively small initial investment, it carries significant risk and should only be used by experienced clients as part of a comprehensive risk management strategy.

Mobile App

The Mobius Trader 7 platform is available for use on mobile devices. The application is compatible with iOS and Android software and can be downloaded free of charge from the AZAforex website.

The mobile platform offers most of the features available on the desktop version but is less easy to navigate. For data-intensive tasks, we would recommend using the desktop version, where possible.

Account Types

AZAforex offers three account types:

• Start – The Start account is targeted at those new to trading. The minimum deposit is just $1, making it an accessible option, and account holders can trade a range of instruments from forex to energies, CFDs and binary options. Spreads are less competitive, starting at 1.1 pips.
• Pro – The Pro account is available for more experienced traders. The account minimum deposit is USD 2,000 and spreads start from 0.5 pips on forex pairs and commission is charged at 0.003% for ECN traders. Pro account holders have access to the full range of instruments but slightly less competitive rates than the VIP account.
• VIP – The VIP account offers the most competitive trading conditions but it comes at a price. Clients will have to deposit USD 10,000 USD to open a VIP account. Spreads start from 0.1 pips and there is no commission charged. VIP account holders can trade fixed and variable spreads and have access to the full range of instruments.

Payment Methods

The brokerage platform supports a range of funding options, including:

• Qiwi
• Kuna
• ADVcash
• Capitalist
• Debit Card
• Credit Card
• NIX Money
• Wire Transfer
• Perfect Money
• Cryptos: Bitcoin, Ethereum, Litecoin, Dash, Monero, Bitcoin Cash, USD Coin, Tether, Ripple

Processing times will vary by method. Wire transfers can take three to four business days while deposits using payment cards are done within the hour. Account minimums are $1, though wire transfers have a minimum deposit limit of USD 200.

Deposits and withdrawals do not incur charges from AZAforex, though third parties may impose their fees. Verification is required for all payment methods except for those made using cryptocurrencies.

To make a deposit, log in to Trading Terminal and select the Deposit Funds menu. Choose your preferred payment method and enter the desired sum.

The minimum sum that can be withdrawn is USD 10. To withdraw funds, head to the Withdrawals tab on the trading platform. Funds can only be withdrawn to an account listed in the account holder’s name.

Demo Account

AZAforex offers prospective clients an opportunity to test its platform before opening a live account. Customers can test new strategies, tools and features risk-free via the AZAforex demo account. It is free to use and can be set up in just a few simple steps.

Promotions

AZAforex offers several bonuses and promotions to help entice new customers. Clients can enjoy a bonus of up to 25% when depositing funds by cryptocurrencies. There is also a loyalty bonus, a no-deposit bonus and a CD bonus. A free VPS is also offered to VIP account holders.

Regulation & Licensing

AZAforex is a legally registered offshore broker, operating from St Vincent and the Grenadines. The broker is unregulated, meaning that its activities are not monitored by any government agency. As a result, there are much greater risks for any client that chooses to trade with the firm.

When trading with a regulated broker, clients are protected from malpractice and fraud, which is essential if something goes wrong. Unregulated brokers, on the other hand, can act in any way they see fit. We would not recommend trading with an unregulated broker as the risk to the client is not only much greater, it is also entirely unnecessary given that there are lots of great, regulated brokers around.

Customer Support

The AZAforex customer service team can be contacted directly via email or telephone. There is also the option to submit a ticket request under the ‘Contact Us’ tab of the broker’s website. Additional information and latest insights can be found on the company’s Facebook, Twitter, Instagram and YouTube channels.

• Email: info@azaforex.com
• Phone: +44 7723399001 (07:00 – 16:00 UTC)

Security

AZAforex holds client funds in segregated bank accounts only in countries where this is stipulated by law, though all clients are protected by negative balance protection. No further information on any additional security measures is provided on the broker’s website regarding extra protective measures or insurance policies. There is also little insight into the technical and security features of the platform, which is slightly concerning given that it will store personal and financial data.

AZAforex Verdict

AZAforex is an unregulated broker with limited information regarding security and some negative customer reviews. However, the firm offers a wide range of trading instruments, including cryptos and binary options, with a sophisticated proprietary platform and high leverage rates. Moreover, clients can access a VPS, ECN execution, a demo account and a range of bonuses and promotions.

FAQs

What Is The Minimum Deposit For AZAforex?

$1 is the minimum deposit required to open a Start account with AZAforex. The Pro and VIP account minimums are $2,000 and $10,000, respectively.

Is There A Deposit Bonus Available With AZAforex?

There are several deposit bonuses and welcome bonuses and promotions run by AZAforex. There is a 25% crypto deposit bonus, alongside a range of loyalty, rebate and no deposit offers.

Can I Trade Binary Options on AZAforex?

Yes, AZAforex offers clients access to binary options contracts. These instruments are simple derivatives and are priced by timeframe, ranging from 70% for 30-second contracts to 90% for 1-day contracts.

Is AZAforex Regulated?

No, AZAforex is an unregulated, offshore broker. This means that it is not monitored by any government agency and there is no guarantee that either its practices are fair or clients have avenues for legal recourse.

Does AZAforex Have Mobile Trading?

Yes, the broker offers a mobile version of its proprietary Mobius 7 trading platform. This tool can be downloaded for iOS and Android devices for free and offers much of the functionality found on the desktop client.

Top 3 Alternatives to AZAforex

Compare AZAforex with the top 3 similar brokers that accept traders from your location.

1. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
   Go to World Forex
2. Videforex – Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
   Go to Videforex
3. RaceOption – RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.
   Go to RaceOption

AZAforex Comparison Table

Compare Trading Instruments

Compare the markets and instruments offered by AZAforex and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

AZAforex vs Other Brokers

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