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AoFeng

Australia|5-10 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|Suspicious Overrun|High potential risk|

http://www.afjrfx.com/index.aspx#index

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
SMKingHit-Demo MT4
Server Location Japan

Contact

0085235902333
info@afjrfx.com
http://www.afjrfx.com/index.aspx#index

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Chinese (Simplified)

0085235902333

Broker Information

More

Company Name

AoFeng Finance

Company Abbreviation

AoFeng

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-03-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 113784446) claimed by this broker is suspected to be clone. Please be aware of the risk!

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AoFeng · Company Summary

AoFeng Basic Information
Company Name AoFeng
Founded 2018
Headquarters Australia
Regulations Suspected cloned regulations
Tradable Assets Forex currency pairs, commodities, indices, cryptocurrencies
Account Types Basic Account, Advanced Account, VIP Account
Minimum Deposit $100
Maximum Leverage 1:200
Spreads Starting from 1 pips
Commission No commission
Deposit Methods Bank wire transfers, credit/debit cards, electronic payment systems
Trading Platforms MetaTrader 4 (MT4)
Customer Support Phone, email, live chat
Education Resources Articles, tutorials, webinars, seminars, online forums
Bonus Offerings None

Overview of AoFeng

AoFeng is an online brokerage firm that was founded in 2018 and is headquartered in Australia. They offer a range of trading instruments to cater to the needs of different traders, including forex currency pairs, commodities, indices, and cryptocurrencies. With access to these markets, traders have the opportunity to diversify their portfolios and take advantage of potential profit opportunities.

While AoFeng provides different account types to accommodate traders' preferences and strategies, specific details regarding minimum deposits and maximum leverage are not mentioned. Traders are advised to seek more information directly from AoFeng to understand the requirements and limitations associated with each account type.

AoFeng operates on the popular MetaTrader 4 (MT4) trading platform, which is known for its user-friendly interface and comprehensive tools. The platform offers real-time market quotes, advanced charting features, and a wide range of technical indicators to support traders in making informed trading decisions. Customer support is available through phone, email, and live chat, providing assistance and guidance to traders when needed.

It is important to note that there are concerns about the legitimacy of AoFeng's regulations, with suspicions of cloned regulations. Traders should exercise caution and thoroughly research the broker before deciding to trade with them. Regulatory compliance is an essential factor to consider as it ensures the safety of funds and protects traders' interests.

basic-info

Is AoFeng Legit?

AoFeng is not regulated by any valid regulatory authority. The claimed regulation by this broker, including the Australia ASIC (license number: 113784446), is suspected to be a clone and not genuine. It is important for traders to exercise caution and be aware of the associated risks when considering trading with an unregulated broker. Regulation plays a crucial role in ensuring the safety of funds, fair trading practices, and the protection of traders' interests. It is generally recommended for traders to choose a broker that is properly regulated by a reputable financial authority to mitigate potential risks.

regulation

Pros and Cons

AoFeng has both advantages and disadvantages that traders should consider before choosing this broker. However, it's important to note that there are concerns regarding suspected cloned regulations, which raises significant red flags about the legitimacy of this broker. As a result, there are no specific pros listed for AoFeng. It is highly recommended for traders to exercise caution and consider regulated brokers that prioritize safety and adhere to genuine regulations. :

Pros Cons
Suspected cloned regulations
Lack of regulatory oversight
Potential risks due to unregulated status
Uncertainty regarding fund safety

Trading Instruments

AoFeng offers a diverse range of trading instruments to cater to the needs of different traders. Clients have access to a variety of financial markets, including forex currency pairs, commodities, indices, and cryptocurrencies.

In the forex market, AoFeng provides a wide selection of currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs. These currency pairs allow traders to participate in the global currency market and take advantage of fluctuations in exchange rates.

For those interested in trading commodities, AoFeng offers opportunities in popular commodities such as gold, silver, crude oil, and natural gas. Trading commodities can be appealing for traders looking to diversify their portfolios or take positions based on market trends in these valuable assets.

AoFeng also allows clients to trade indices, which represent the performance of a group of stocks from a specific market or sector. Traders can speculate on the overall performance of major global indices, including the S&P 500, Dow Jones Industrial Average, and FTSE 100. Trading indices can provide insights into broader market trends and opportunities for profit.

Additionally, AoFeng enables clients to trade cryptocurrencies, including popular digital assets such as Bitcoin, Ethereum, and Litecoin. Cryptocurrency trading offers unique opportunities in the rapidly evolving and highly volatile crypto market. Traders can take advantage of price movements in cryptocurrencies to potentially generate profits.

market-instruments

Here is a comparison table of trading instruments offered by different brokers:

Broker AoFeng IC Markets FxPro VantageFX
Forex Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Crypto Yes Yes Yes No
CFD No Yes Yes Yes
indexes Yes Yes Yes Yes
Stock No Yes Yes Yes
ETF No No No No
Options No No Yes No

Account Types

AoFeng offers a variety of account types to accommodate the diverse needs of traders. These account types are designed to provide options and flexibility based on traders' preferences and trading strategies.

The Basic Account is suitable for traders who are starting their journey in the financial markets. It typically requires a modest minimum deposit, allowing traders to get started with a smaller investment. With the Basic Account, traders gain access to the trading platform and a selection of tradable instruments.

For more experienced traders or those seeking additional features, AoFeng offers the Advanced Account. This account type usually requires a higher minimum deposit but provides traders with benefits such as lower spreads and access to advanced trading tools. The Advanced Account is tailored to meet the needs of traders who require more advanced functionality and analysis.

AoFeng also offers a VIP Account, designed for high-volume traders or institutional clients. This account type may require a significantly higher minimum deposit, but it comes with exclusive benefits such as personalized support, priority execution, and customized trading conditions. The VIP Account is aimed at meeting the specific requirements of professional traders and institutions.

Traders can choose the account type that best suits their trading goals, experience level, and investment capabilities. Each account type offers different advantages and features to enhance the trading experience and cater to individual preferences.

Leverage

AoFeng offers varying leverage ratios depending on the trading instrument and account type. For major currency pairs such as EUR/USD and GBP/USD, the maximum leverage available may range from 1:50 to 1:200. For minor currency pairs and exotic pairs, the leverage options could range from 1:20 to 1:100.

In commodities trading, leverage ratios can vary as well. For example, gold and silver may have leverage options ranging from 1:50 to 1:100, while crude oil and natural gas could offer leverage ratios from 1:30 to 1:50.

In indices trading, the leverage ratios for major global indices such as the S&P 500, Dow Jones Industrial Average, and FTSE 100 might be available in the range of 1:50 to 1:100.

When it comes to cryptocurrencies, leverage options may vary significantly due to the highly volatile nature of the market. Leverage ratios for popular digital assets like Bitcoin, Ethereum, and Litecoin could range from 1:5 to 1:50, allowing traders to take advantage of price movements in these assets.

It's important for traders to note that leverage is a double-edged sword. While it can magnify profits, it also amplifies potential losses. Traders should carefully consider their risk tolerance, trading experience, and the specific leverage requirements of their trading strategy before utilizing leverage. Implementing effective risk management strategies, such as setting stop-loss orders and using appropriate position sizing, is crucial when trading with leverage.

Here is a comparison table of maximum leverage offered by different brokers:

Broker AoFeng IG Group Just2Trade Forex.com
Maximum Leverage 1:200 1:30 1:20 1:200

Spreads and Commissions (Trading Fees)

AoFeng provides spreads and commissions that are subject to variation based on market conditions, trading instruments, and account types.

The spreads offered by AoFeng differ across various currency pairs and instruments. For major currency pairs such as EUR/USD and GBP/USD, the spreads can range from approximately 1 to 3 pips during normal market conditions. However, for exotic currency pairs and less frequently traded instruments, the spreads may widen, typically ranging from 3 to 5 pips. These wider spreads reflect the liquidity and volatility characteristics of these instruments.

In terms of commissions, AoFeng operates on a commission-free structure for most trading instruments. Instead, they generate revenue from the spreads. This means that traders do not have to pay a separate commission fee per trade.

To obtain specific and accurate information regarding spreads and commissions for different instruments and account types, traders are advised to consult AoFeng's website or contact their customer support. It is important for traders to consider both the spreads and any applicable commissions when evaluating the overall trading costs with AoFeng, and to compare them with other brokers to ensure competitive pricing.

spread-commission

Non-Trading Fees

AoFeng may charge non-trading fees in addition to the costs associated with trading. These fees are important to consider as they can impact the overall profitability of trading activities.

One non-trading fee that traders should be aware of is the inactivity fee. If an account remains inactive for a certain period of time, AoFeng may impose an inactivity fee. The specific duration of inactivity required to trigger the fee and the amount charged may vary. Inactivity fees are typically charged on a monthly basis and are intended to cover the administrative and maintenance costs of inactive accounts. Traders should review the terms and conditions provided by AoFeng to understand the specific details of the inactivity fee.

Additionally, AoFeng may have fees related to deposits and withdrawals. While deposits are generally free of charge, some payment methods or third-party providers may impose transaction fees. It is advisable for traders to review the deposit and withdrawal options available with AoFeng and understand any associated fees or charges. Withdrawal fees may also apply, especially for certain payment methods or in specific circumstances. Traders should carefully review the terms and conditions regarding withdrawals to avoid any unexpected fees.

It is important for traders to familiarize themselves with AoFeng's fee structure, including non-trading fees, to ensure transparency and make informed decisions about their trading activities. Traders are encouraged to review the broker's website or contact their customer support for detailed information on non-trading fees and any applicable charges.

Deposit & Withdraw Methods

AoFeng provides clients with various deposit and withdrawal methods to facilitate the funding and withdrawal of funds from their trading accounts. The minimum deposit requirement at AoFeng is $100, allowing traders with different budget sizes to start trading.

For deposit methods, clients can typically choose from options such as bank wire transfers, credit/debit cards, and electronic payment systems. Bank wire transfers are a reliable method of depositing funds directly from a bank account to the trading account. Credit/debit cards offer a convenient and quick option for depositing funds, allowing clients to use their Visa or Mastercard. Electronic payment systems, such as e-wallets, may also be available as deposit methods, offering additional flexibility and accessibility.

When it comes to withdrawals, clients can request a withdrawal from their AoFeng trading account. The broker usually processes withdrawal requests through the same method used for deposits, ensuring convenience and ease of transaction. Withdrawal methods often include bank wire transfers, allowing clients to transfer funds from their trading account back to their bank account. It is important to note that the availability of withdrawal methods may vary depending on the client's location and the regulations in place.

Clients are advised to visit AoFeng's website or contact their customer support for detailed information on the deposit and withdrawal methods available to them, including any associated fees or processing times. It is recommended for traders to carefully review the terms and conditions regarding deposits and withdrawals to ensure a smooth and efficient transaction process.

Trading Platforms

AoFeng offers the popular and widely recognized MetaTrader 4 (MT4) trading platform to its clients. MT4 is a robust and user-friendly platform that has gained significant popularity among traders worldwide.

The MT4 platform provides traders with a comprehensive set of tools and features to facilitate their trading activities. It offers real-time market quotes, advanced charting capabilities, and a wide range of technical indicators that allow traders to analyze market trends and make informed trading decisions. The platform also supports the execution of various order types, enabling traders to enter and exit positions efficiently.

trading-platform

Customer Support

AoFeng offers various channels of customer support to assist traders with their inquiries, technical issues, and account-related concerns.

One of the primary channels of customer support provided by AoFeng is a dedicated phone line. Clients can reach out to the customer support team via phone to speak directly with a representative who can address their questions or provide guidance. This direct communication allows for immediate assistance and clarification, ensuring a prompt resolution to any issues that traders may encounter.

In addition to phone support, AoFeng offers email support as a convenient means of communication. Traders can send their inquiries or concerns via email and can expect a timely response from the customer support team. Email support allows for detailed explanations and documentation, making it suitable for more complex inquiries or account-related matters that may require additional information.

Furthermore, AoFeng provides live chat support on its website. This real-time messaging feature allows traders to engage in instant conversations with customer support representatives. Live chat support is particularly useful for quick inquiries or when traders prefer a more interactive and immediate form of assistance. It offers convenience and efficiency, ensuring that traders' questions are addressed promptly.

Educational Resources

AoFeng offers a range of educational resources and community support initiatives to assist traders in enhancing their knowledge and skills in the financial markets. The broker provides various educational materials, including articles, tutorials, and video resources, covering topics such as market analysis, trading strategies, risk management, and technical analysis. These resources are designed to empower traders with valuable insights and information to make informed trading decisions.

In addition to educational resources, AoFeng may organize webinars and seminars conducted by industry experts. These events offer traders the opportunity to learn from experienced professionals and gain deeper insights into advanced trading techniques and strategies. They also provide a platform for traders to interact with fellow traders, share ideas, and exchange experiences.

AoFeng aims to foster a sense of community among its traders by facilitating communication and collaboration. The broker may provide online forums or social platforms where traders can connect with each other, engage in discussions, and share trading ideas. This community support can create a supportive and collaborative trading environment, allowing traders to learn from one another and stay updated on market trends.

Trading Tools

AoFeng provides a variety of trading tools to assist traders in their analysis and decision-making process. These tools are designed to enhance the trading experience and help traders make more informed trading decisions.

One of the trading tools offered by AoFeng is advanced charting software. Traders can access interactive and customizable charts, allowing them to analyze price movements, identify patterns, and apply technical indicators. The charting software provides a visual representation of market data, enabling traders to gain deeper insights into market trends and potential trading opportunities.

Furthermore, AoFeng may offer economic calendars, which provide information on upcoming economic events, news releases, and important announcements that can impact the financial markets. Traders can utilize this tool to stay informed about key events and plan their trading strategies accordingly. By having access to an economic calendar, traders can anticipate market volatility and make well-timed trading decisions.

Additionally, AoFeng may provide real-time market analysis and research reports. Traders can access market insights and analysis from professional analysts, helping them stay updated on market trends and identify potential trading opportunities. This tool provides valuable information and perspectives that traders can incorporate into their trading strategies.

Conclusion

In conclusion, AoFeng is an online brokerage firm that offers a range of trading instruments and operates on the popular MetaTrader 4 platform. While it provides access to various financial markets and offers different account types, there are concerns about the legitimacy of its regulations, with suspicions of cloned regulations. This lack of proper regulation poses a potential risk to traders. On the positive side, AoFeng provides a user-friendly trading platform and offers customer support through various channels. However, it is important for traders to exercise caution and consider the potential risks associated with trading with an unregulated broker. It is generally recommended for traders to choose a broker that is properly regulated by a reputable financial authority to ensure the safety of their funds and the protection of their interests.

FAQs

Q: Is AoFeng a regulated broker?

A: AoFeng is not regulated by any valid regulatory authority. The claimed regulation by this broker, including the Australia ASIC (license number: 113784446), is suspected to be a clone and not genuine.

Q: What trading instruments are available on AoFeng?

A: AoFeng offers a diverse range of trading instruments, including forex currency pairs, commodities, indices, and cryptocurrencies.

Q: What account types does AoFeng offer?

A: AoFeng provides different account types to cater to the needs of traders, including Basic, Advanced, and VIP accounts.

Q: What is the minimum deposit requirement on AoFeng?

A: The minimum deposit requirement on AoFeng is $100.

Q: What leverage options are available on AoFeng?

A: AoFeng offers varying leverage ratios depending on the trading instrument and account type. The leverage can range from 1:5 to 1:200, depending on the specific instrument and account type.

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邱浩銓
more than one year
My experience with them has been a total headache. Their trading information is a mess and it's hard to figure out what's going on. Trying to get in touch with customer service is like pulling teeth - they just don't respond. Plus, every time I've tried to download the MT4 trading platform, it's failed. Overall, I wouldn't recommend AoFeng to anyone looking for a smooth and reliable trading experience.
2023-03-24 09:15
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彭韵菲
more than one year
This Acreista Financial is a real black platform. It tricked me into depositing money with sweet words, and then quickly blocked my account. The customer service personnel could not be contacted, and they disappeared completely. Spent 5,000 yuan to buy a lesson!
2022-12-13 17:08
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