Aza Forex

Feature	Details
Broker	AZAforex
Rating	⭐️⭐️⭐️⭐️⭐️ (5/5)
Minimum Deposit	$1
Payout	190%
Demo Account	Yes
Country Flag	Traders from Kenya welcome

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My Opinion on AZAforex

In my assessment, AZAforex presents competitive options for short-term binary options traders. With payouts reaching up to 90% on popular assets and a minimum investment of just $1, it’s a beginner-friendly platform. Additionally, the variety of low-cost and convenient deposit methods makes starting easy for new traders.

Pros and Cons

Pros:

Wide Range of Payment Methods: AZAforex offers a variety of payment options, including e-wallets and cryptocurrencies.
Unlimited Demo Account: Traders can use the demo account indefinitely to refine their binary options strategies.
High Payouts: Enjoy payouts of up to 90% on global assets, including major currency pairs.
User-Friendly Platform: The trading platform is accessible on desktop, web, and mobile devices, catering to all trader preferences.
Turbo Binaries: Options available with expiry times as short as 30 seconds.
Low Minimum Deposit: Start trading with a minimal deposit of only $1.

Cons:

Limited Features: The platform lacks advanced features and analytical tools compared to competitors.
No Trading on Stocks or Cryptos: Binary options trading is restricted to forex, commodities, and indices.
Unregulated Broker: The absence of regulation lowers the trust factor.
Slow Customer Support: During testing, customer support was slower than expected.

Key Details

Binaries Offered: Over 50 options across forex, commodities, and indices.
Minimum Stake: $1
Maximum Payout: Up to 90%
Expiry Times: Ranges from 30 seconds to 1 day.
Trading Platform: Utilizes Mobius Trader 7.
Account Types: Start, Pro, VIP with a demo account available.

Company Overview

AZAforex is an unregulated broker based in the Marshall Islands. While this is common for some binary options brokers, it does come with risks, as there’s no neutral entity overseeing the trading practices. Due to some unfavorable reviews online, I advise potential traders to invest only what they can afford to lose.

On a positive note, AZAforex prioritizes client fund safety by segregating client funds from operational capital in secure banks. Operating since 2016, it has amassed over 120,000 registered users, showcasing its popularity.

Account Types

AZAforex provides binary options trading across all three account types: Start, Pro, and VIP. The accounts vary primarily in their minimum deposit requirements—$1 for Start, $2,000 for Pro, and $10,000 for VIP. Higher-tier accounts come with tighter spreads, making them more appealing for active traders.

Account Type	Execution Type	Minimum Deposit	Spreads	Binary Options
Start	Market	$1	1.1-pip	59
Pro	Market, ECN	$2,000	0.5-pip	60
VIP	Market, ECN	$10,000	0.3-pip	60

How to Open an AZAforex Account

Opening an AZAforex account is a straightforward process that took me less than 5 minutes. Here’s how you can do it:

Select the account type you wish to open.
Enter your basic personal details, including your name, email, phone number, and create a password.
You will receive an email containing your login credentials and a withdrawal password.
The email also includes a link to the web version of the Mobius trading platform, automatically linked to your AZAforex account.
Sign in and make your deposit to start trading.

Trading Options

AZAforex allows trading in both Chinese and American options. The American options enable traders to settle contracts before expiry, while the Chinese options have no delays when speculating on price movements.

Markets and Payouts

AZAforex features binary options trading across 50+ global markets, covering major forex pairs like EUR/USD, indices such as the S&P 500, and commodities like gold and oil. Unfortunately, stocks and cryptocurrencies are excluded from binary options trading, a limitation worth noting.

While the broker advertises high payouts, I found the maximum payouts during my testing were around 90%, which is competitive but lower than the advertised figures.

Expiry Times and CFDs

AZAforex offers a good selection of expiry times, from 30 seconds to 1 day, catering to short-term traders. However, those looking for longer expiry times might consider alternatives like Deriv.

Unique to AZAforex is its offering of Contracts for Difference (CFDs), allowing portfolio diversification through leveraged contracts on various assets, including forex, stocks, indices, and cryptocurrencies.

Trading Platform

I was impressed by the user-friendly design of the Mobius Trader 7 platform. It features an uncluttered layout, intuitive charting options, and accessibility across all devices, providing flexibility for traders.

Overall, while AZAforex has its drawbacks, particularly regarding regulation and customer support, its competitive payouts and low entry barriers make it an attractive option for novice binary options traders.

Platform Limitations: A Lack of Advanced Tools

One downside is that AZAforex's platform falls short when it comes to advanced technical analysis. While the 15 built-in indicators and limited drawing tools are adequate for beginner traders, it doesn't offer the sophisticated analytical features available on more advanced trading platforms.

In summary, AZAforex offers a clean, beginner-friendly interface but lacks the in-depth analysis tools and advanced capabilities that experienced traders may seek.

How to Trade Binary Options on Mobius Trader 7

Trading binary options on AZAforex’s Mobius 7 platform is straightforward. Here’s how to get started:

Log into your Mobius 7 account.
Click on the ‘Options’ tab at the top of the trading screen.
Choose between ‘Chinese’ or ‘American’ options.
Select the contract duration.
Input your desired stake amount.
Review the potential payout.
Click ‘Buy’ or ‘Sell’ to place your trade.

This step-by-step process ensures a smooth experience, even for new traders.

Fees at AZAforex

Unlike traditional brokers, AZAforex does not charge commissions on binary options trades. Instead, the broker earns through the payout structure, meaning fees are indirectly applied when a trade is unsuccessful.

A positive feature is the absence of deposit and withdrawal fees on AZAforex’s end. However, keep in mind that your payment provider may still charge transaction fees.

Payment Methods

AZAforex provides a variety of payment options, making it accessible to traders globally. The platform covers fees for deposits of at least $100 via e-wallets, $300 by card, or $1000 by bank transfer, which I consider a notable advantage. This reduces the burden of additional costs when funding your account.

Available payment methods include:

Bank cards
Wire transfers
E-wallets: KUNA, Perfect Money, NIX Money, Capitalist, Alpha Cash, and more
Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Tether, and others

How to Deposit Funds to AZAforex

Funding your AZAforex account is straightforward with an easy-to-use cashier portal. Here’s how to deposit:

Log in to your AZAforex account.
Click the ‘Deposit’ button next to the account you want to fund.
Choose your preferred payment method from the left menu, then click ‘Deposit Funds.’
Follow the prompts and click ‘Confirm’ to complete the transaction.

This process is quick and hassle-free, allowing traders to start trading with minimal delays.

Research Tools

AZAforex does offer some research tools, though I found the selection to be lacking. Market analysis was once updated frequently, but the frequency of updates has dropped since February 2023. Market analysis is crucial for traders, offering insights into trends and helping with informed decision-making, so the lack of recent updates is a drawback.

On the positive side, AZAforex provides an economic calendar, which is a helpful tool for tracking upcoming market events.

Educational Resources

AZAforex maintains a blog with articles covering fundamental trading topics like trading psychology and beginner lessons. While these resources may benefit new traders, they lack the depth and comprehensive nature of materials offered by other brokers. A structured learning system, such as an academy with a clear course path, would greatly improve the educational offering.

Demo Account

One standout feature is AZAforex's free demo account, which can be reloaded with virtual funds and used indefinitely. This is particularly beneficial compared to other brokers, where demo accounts may come with limits. For those unfamiliar with the Mobius Trader 7 platform, the demo account offers a risk-free way to learn the platform’s features and functionality.

Bonus Offers

AZAforex provides a variety of bonus promotions. When I opened my account, there was a 25% bonus on cryptocurrency deposits and a 120% loyalty payout. Additionally, there was a 30% rebate program on closed orders, offering $50 for every $1 million traded per month.

To stay updated on current offers, check the ‘Promo’ tab on the AZAforex website. However, be sure to carefully review the terms and conditions before opting into any bonus deals. While bonuses can be appealing, I recommend choosing a broker based on more critical factors like trust, reliability, and trading conditions, rather than bonuses alone.

Customer Support

Customer service is one of AZAforex's weaker areas. Their support is only available 12 hours a day, Monday to Friday, from 8am to 8pm UTC, which is limited compared to brokers offering 24/5 or even 24/7 support.

I also found response times on live chat slow during my tests, with wait times often exceeding 1 hour. This is far from ideal, especially when you need urgent assistance.

Contact details:

Live chat: Icon at the bottom right of the website
Telephone: +447723399001
Email: support@AZAforex.com
Telegram: @AZAforex
Skype: AZAforex.com

Should You Trade Binary Options with AZAforex?

After reviewing AZAforex, I found several advantages, including a low minimum deposit, a variety of payment options, an unlimited demo account, high payouts of up to 90%, and a beginner-friendly platform.

However, there are also notable downsides, such as weak regulatory oversight, no binary options for stocks or cryptocurrencies, slow customer support, and average research and educational resources.

In conclusion, AZAforex is a decent choice for beginner traders interested in short-term binary options trading on forex. However, more seasoned traders may find better options elsewhere, especially if they are seeking more advanced features and regulatory protection.

FAQs

Is AZAforex Legit?

Yes, AZAforex is a legitimate company registered in the Marshall Islands. It has been in operation since 2016 and serves thousands of global traders. However, its weak regulatory oversight and some negative reviews impact its trust score.

Is AZAforex Regulated?

No, AZAforex is not regulated by a recognized financial authority. This is common in the binary options industry, but traders should be aware of the risks, including limited legal protection in case of disputes.

Who Is AZAforex Best For?

AZAforex is best for short-term binary options traders focused on popular global markets, particularly forex. It is also suitable for beginners looking for an easy-to-use platform like Mobius Trader 7.

Is AZAforex Good for Beginners?

Yes, AZAforex is beginner-friendly, offering a low minimum deposit of $1, an intuitive trading platform, access to popular markets, and an unlimited demo account.

Does AZAforex Have an App?

Yes, AZAforex offers the Mobius Trader 7 platform, which is available on iOS and Android devices. You can download the app for free from the respective app stores, and the platform’s charts and trading features are optimized for mobile use.