AFB FX Review
As of March, 2014, AFB FX has been rebranded to ORBEX. For a full review of ORBEX, please click here.
AFB FX is a Forex broker whose uncluttered website, breadth of offerings and approachable team is designed to help any Forex trader trade comfortably and confidently. The brokerage is an offshoot of AFB (Arab Financial Brokers), a popular brokerage in business since 2008, and it's clear that the company has used its knowledge of the industry to build an excellent experience with AFB FX. In addition to providing the widely accepted MetaTrader4 platform, AFB FX offers the MetaTrader5 platform, and the SerSmart web-based trading platform, so that avid traders can place trades from anywhere. We’ve tested AFB FX thoroughly and compared our findings to our experiences with other top Forex brokers in this AFB FX review. See for yourself AFB FX is the best Forex broker for you.
Founded in: 2010
Headquarters: Limassol, Cyprus
Maximum leverage: 1:500
Minimum deposit: $50
Minimum deal size: 0.01 Lot
Languages available: English, Arabic
While many of today’s top Forex brokers offer one or two trading platforms to choose from, we were quite impressed to see that AFB FX offers a notably wide range of platforms, including the MetaTrader4 in its classic downloadable version, the relatively new MetaTrader5 platform and a SerSart Web Trader that enables avid traders to place orders from any PC or Mac.
AFB FX also offers mobile Forex trading on a platform that is supported not only by iPhones, but also by Blackberry phones, Symbian phones and Windows mobile devices. With this mobile platform, traders can execute most standard trades including opening and closing positions, placing market orders, changing order rates, hedging positions, and executing stop and limit orders. In addition, the AFB FX mobile trading application streams real time quotes and charts so that traders can not only trade from anywhere, but to customize their chart indicators and set their ticks as they desire.
It is worth noting that only the MT4 and the Web Trader are available for demo accounts, something which is not entirely uncommon.
One of the best features we noticed about AFB FX (besides their excellent trading platform options) is the company’s extremely transparent list of trading conditions as they apply to each pair and to each trading account. With a quick scan of the AFB FX website, a trader can get a very good idea of exactly what to expect when he or she is trading with this brokerage. AFB FX offers competitive variable spreads on all of their Forex pairs (which number over 20). The brokerage also offers trading of commodities, indices, futures and metals, giving traders more than enough options from which to trade. Islamic Forex accounts are also available.
The leverage available on Micro lots is 1:500, which is considered quite a high leverage, though traders can adjust the leverage as they see fit. Mini account holders can enjoy leverage up to 1:400, and Standard account holders can trade with up to 1:200 leverage.
AFB FX offers a sufficient Forex education center which explains in depth how technical and fundamental analyses work, and a comprehensive Forex glossary which provides a background to trading for new traders. Traders can also take advantage of several important Forex trading tools, including a currency converter, pip and margin calculators, an economic calendar and all of the charting tools that are integrated into each trading platform.
Traders wishing to contact AFB FX should have no trouble getting in touch with the brokerage. Although live chat seems to be available, we visited the site several times during normal business hours and found that the live chat feature was always offline. As an alternative, we could choose to request a callback or to email the company, which is what we chose to do. The confirmation said that we would receive a response within 24 hours.
Ease of Use
AFB FX was one of the easiest to use Forex brokers that we’ve tested recently. Registration was quick and straightforward, and withdrawals and deposits can be done via wire transfer, credit card, MoneyBookers, Liberty Reserve and several other means.
We have no doubt that AFB FX was built by a team of accomplished traders who built on their own experience to provide an excellent user experience for their traders. Reliable regulation, competitive trading conditions, an intuitive website and clearly accessible customer support all contribute to a positive Forex trading experience with AFB FX.
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