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AFB FX Review

AFB FX is a forex and OTC futures broker based in Cyprus. By far the best feature offered by AFB FX is the availability of Professional Accounts, which offer highly flexible trading conditions. The spreads, margin requirements and virtually all other parameters are negotiable on Professional Accounts, making them the preferred choice among account managers. Having said that though, most of the other accounts also offer trading conditions that are quite reasonable.

Fairly low spreads, low deposit requirements (you can get started with $50) and the ability to trade in microlot increments, combined with Straight-through order processing (STP) are an attractive combination for most smaller traders (please note that microlots can be traded on all accounts, but that Standard, Advanced and Professional Account holders have to request this feature). Islamic style swap-free accounts are also available, offering a further incentive to some traders.

Also on offer are a wide range of mobile trading platforms, so as long as you have a relatively recent handset with data, you can always stay connected to the markets.

To top it off, AFB FX also offers trading in over-the-counter (OTC) futures, including major FX currencies, metals, energy commodities, soft commodities and equity indices.

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Subjective Ratings

Charting: Four and Half star Charting Rating
Execution: Four star Execution Rating
User-friendliness: Four and Half star User-friendliness Rating
Customer support: Five star Customer Support Rating
Transaction costs (spreads): Five star Transaction Costs (spreads) Rating
Rollover interest rates: Five star Rollover interest rates Rating
Withdrawal processing: Four star Withdrawal processing Rating
Platform Functionality: Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating
Average rating: Four and Half star Average Rating

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Business Details

Broker Headquarters: Cyprus
Regulated By: CySEC
Client Account Segregation: Yes, client funds are kept separate from company operating capital
Collect Taxes on Earnings: No
Accept US traders?:
Main liquidity providers: There are 6 liquidity providers, but names are unknown
Broker Capital as of 12-2011 Unknown
Also has offices in: none
Registered Business Name: AFB FX Limited
In business since year: 2010
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Credit Card $0 $0
Liberty Reserve $0 $0
Moneybookers $0 $0
Perfect Money $0 $0
WebMoney $0 $0
Wire Transfer $0 $0

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Trading Conditions

Browser platform: AFB FX WebTrader
Downloadable platform: AFB FX Metatrader 4 (MT4)
Mobile platform: Android,Blackberry,i-Mode,iPhone,Symbian (Nokia),Windows Mobile
Phone dealing: Yes
No Dealing Desk Execution: There is no dealing desk intervention
Fixed spreads: No
Guaranteed stop losses? Yes, limit and stop orders are guaranteed against slippage, except under market conditions
Hedging capability: Yes, traders can simultaneously hold both long and short positions in the same currency pair.
Trading Hours: 22:00 GMT on Sunday to 22:00 GMT on Friday
Timezone GMT +2 (no Sunday bar)
Scalping allowed: Scalping is not allowed
Account currencies available: EUR, USD
Platform languages: Many
Support languages: Arabic, English
Demo account:
Live chat support:
Promotions & tournaments:
Swap-free accounts  Yes - no extra charges and available to everyone, not just Islamic traders
Typical spread on EUR/USD: 0.6 pips (Professional) to 2 pips (Micro)
Order processing: ECN,STP No Dealing Desk
OCO orders available: No
Trailing Stops: Client-side
If/then orders available: No
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
Micro Account 500:1* $50/unlimited 1,000/5,000,000 units
Mini Account 400:1* $1,000/unlimited 1,000/5,000,000 units
Standard Account 200:1* $5,000/unlimited 10,000/5,000,000 units Microlot trading available on request
Advanced Account 100:1* $50,000/unlimited 100,000/5,000,000 units Microlot trading available on request
Professional Account 100:1* High Deposit 100,000/5,000,000 units Microlot trading available on request
Tradeable Instruments: 46   
Automated Trading: Yes
Depth of market view (Liquidity): No depth of market view available
Interest on Margin: No
Pending Orders Away from Market: 5 pips

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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