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Contract reading

What AAAFx legally published, but does not want you to read

Every clause below is published by AAAFx itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: AAAFx Global Ltd

sole discretioncounterparty confusioncountry restrictiondeemed acceptancedispute barrierhidden feekyc freezeprofit voidingwithdrawalsbonus lock

AAAFx publishes two different client agreements under the same file name. One names a Comoros company, the other a South African one, and they disagree on whether EU residents may be clients at all. A monthly inactivity fee starts at 90 days and its amount is published nowhere. The right to take a complaint to a regulator was removed.

Back to AAAFx

Contract risk

Payout refusable
9.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
9
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
16
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
19
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
9

How the 16 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical9
Warning6
Notice1

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2In the contract. Jump to the clause this comes from.Two client agreements name two different companiesCritical90 daysFee on an unused account. Jump to the clause this comes from.Monthly inactivity fee with no published amountCritical4Account limit. Jump to the clause this comes from.Four conflicting answers on who may open an accountCritical5 working daysTime to complain. Jump to the clause this comes from.Silence for five working days counts as agreement

What the documents say

16 clauses worth knowing about, worst first, each quoted from AAAFx's own files

01

AAAFx publishes two files called Retail Client Agreement. One says you contract with AAAFx Global Ltd under the laws of the Comoros Union. The other says Sikhula Venture Capital (PTY) Ltd under the laws of South Africa. The signup form hands you the Comoros one.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

You cannot tell which company holds your money or whose courts you would have to sue in. The Comoros copy leaves an empty bracket where its country of incorporation belongs, so that version never says where the company exists.

Exhibit 1CriticalRarely seen2

"Company" for the purposes of this Agreement means AAAFx Global Ltd, a company incorporated in the (hereby referred to as “AAAFx”, “we” or “us”).
Clause 1 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.1
Read from the broker's site on Open the reference

Our readingBrokers with several entities normally publish one agreement per entity, each clearly labelled. Here two files share a name, a title and a layout, and differ on the counterparty, the governing law and the courts. The Comoros text also carries marks of being copied from the South African one: an empty bracket where the country was removed, a privacy policy calling a South African statute the law of the Comoros Union, and a leftover reference to St Vincent and the Grenadines.

02

Stop trading for 90 days and AAAFx starts charging your account a monthly inactivity fee. The contract never says how much. It says the amount sits in a charges section of the website, and there is no such section.

Why this matters

You cannot find out what this costs before you agree to pay it. A balance you leave alone can drain at a rate you are never shown, and this charge was absent from the previous version of the agreement.

Exhibit 4CriticalHarder than usual90 daysNew

the Customer acknowledges and agrees that AAAFx, shall have the right to charge the Inactive Account with a monthly Inactivity Fee for each month the Account has been and remains inactive. The applicable fee is published in the relevant charges section in our website as provided in Clause 5.1 herein.
Clause 9.21.1 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.16
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell a retail client the costs and charges of the service before that client trades, with the amounts stated. This contract creates a recurring charge and points to a page that does not exist for the figure.

AAAFx is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 90No trade, no open or closed position and no deposit for 90 days makes the account inactive.9.21.1
Once inactiveA monthly inactivity fee starts, charged for every month the account stays inactive.9.21.1
Once inactiveAny bonus or award on the account can be removed with no notice.9.22.4
Balance reaches zeroThe account turns dormant, and you must contact support and may have to redo identity checks to reopen it.9.21.3
  • Worse together with Exhibit 7One missing page hides the amount of this fee and every other charge at the same time.
03

AAAFx sells in ten languages. Four of them are Turkish, Russian, Chinese and Indonesian. Your signup contract bans residents of Turkey, Russia, China and Indonesia. The Turkish homepage still invites you to create an account.

Why this matters

You can read the whole site in your own language, deposit and trade, then find the contract never allowed you to be a client. That hands AAAFx a reason to refuse you when you ask for your money.

Exhibit 3CriticalHarder than usual4

Currently the Company does not accept new clients and/or the opening of new accounts from Afghanistan, Belarus, Burundi, China, Congo, Crimea Ukraine, Cuba, India, Indonesia, Iran, Iraq, North Korea (Democratic People's Republic of Korea), Palestine, Romania, Russia, Sri Lanka, Sudan, Syria, Taiwan, Turkey, United States of America, Venezuela, Yemen, Hong Kong.
Clause 3.6 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.4
Read from the broker's site on Open the reference
04

If AAAFx decides your trading took advantage of its own pricing errors, it can take historic profits out of your account. It makes that judgement itself. A separate clause lets it void your trades and profits with no notice.

Why this matters

Money you already earned and watched settle in your balance can be pulled back later. The contract never defines the trading that triggers this, so the test is whatever AAAFx decides it is.

Exhibit 9CriticalHarder than usual

obtain from your account any historic trading profits that you have gained through such abuse of liquidity as determined by us
Clause 9.13.2 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.13
Read from the broker's site on Open the reference
  • Worse together with Exhibit 10The site invites scalpers and says every strategy is allowed, which is the activity this clause can reclassify as abuse.
05

AAAFx handles your complaint itself and names nobody above it. The 2021 version of this clause told you how to take a complaint to the Greek regulator. That sentence has been cut.

Why this matters

If AAAFx turns your complaint down, your contract offers you no ombudsman and no regulator. The only ombudsman named anywhere in its documents serves a different company.

Exhibit 5CriticalHarder than usual

We will send you a written acknowledgement of your complaint promptly following receipt, enclosing details of our complaints’ procedures. Please contact us if you would like further details regarding our complaints’ procedures.
Clause 19.8 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.30
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell a retail client how to escalate a complaint to an independent scheme once the firm's own process ends. This agreement ends at the firm's own process.

AAAFx is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

06

Who AAAFx will not serve depends on which page you read. The signup agreement names 24 countries. The other agreement bans the whole EU and the UK as well. The footer names a third list and the FAQ a fourth.

Why this matters

You can be accepted today and told later that your country was never eligible. The registration form still offers United States as a residence country, which both the footer and your own contract exclude.

Exhibit 2CriticalHarder than usual4

Currently the Company does not accept new clients and/or the opening of new accounts from Afghanistan, Belarus, Burundi, China, Congo, Crimea Ukraine, Cuba, India, Indonesia, Iran, Iraq, North Korea (Democratic People's Republic of Korea), Palestine, Romania, Russia, Sri Lanka, Sudan, Syria, Taiwan, Turkey, United States of America, Venezuela, Yemen, Hong Kong.
Clause 3.6 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.4
Read from the broker's site on Open the reference
  • Worse together with Exhibit 3The lists that disagree are the same lists AAAFx contradicts by selling in the languages of the countries named on them.

The page holding every AAAFx charge is not on the website

3 AAAFx documents send you to a Spreads section for the full fee schedule, and no such section exists. Clause 5.1 puts the charges there, clause 9.21.1 puts the inactivity fee there, and the risk disclaimer puts the rollover fees and leverage there. Clause 5.5.2 lets AAAFx change the swap rates at its own discretion and without notice.

Cost disclosure1 clause flagged

Three AAAFx documents send you to a Spreads section of its website for the full list of charges. That section is not there. The rollover rates, the inactivity fee and the stop out level are all described as published in it.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

You agree to charges you are told are published, and they are not. Nothing in the contract caps them, and AAAFx can change the swap rates at its own discretion without telling you.

Exhibit 7CriticalHarder than usual3

A copy of our current charges including the applicable fee structure, in accordance with AAAFx Global Ltd pricing policy, is published on the website in the “Spreads” section https://aaafx.com/global/).
Clause 5.1 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.6
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client the costs and charges of a service before trading, in a form the client can see. Here the contract, the risk disclaimer and the inactivity clause all point to one page for those figures, and the page is absent.

AAAFx is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Every AAAFx withdrawal waits on an approval with no deadline

Clause 9.18.1 pays you only once AAAFx has approved the request, and sets no time limit and no test for that approval. It also picks the destination at its absolute discretion. Clause 9.18.2 lets unfinished identity checks hold your funds, and the public FAQ meanwhile promises processing within 24 hours.

Getting paid1 clause flagged

AAAFx sends your money only once it has approved the request. The contract sets no time limit on that approval and no test it has to meet. It also picks where the funds go at its absolute discretion.

Why this matters

Your payout rests on a decision with no clock attached. The public pages promise a speed your contract never commits to.

Exhibit 8CriticalHarder than usual

Once your withdrawal request is approved, your withdrawal request will be processed by us and sent for execution to the same bank, credit card or other source from which the funds were debited or as we, in our absolute discretion determine, as soon as possible.
Clause 9.18.1 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.14
Read from the broker's site on Open the reference
  • Worse together with Exhibit 11Identity checks you were told were optional become the gate on an approval that has no deadline.

Complaints stop at AAAFx, and the clock is short

Clause 9.12.4 makes your statements final if you stay quiet for 5 working days, and the refund policy cuts platform error claims to 24 hours from the daily statement. Clause 19.8 keeps complaints inside AAAFx and names no regulator or ombudsman above it. The 2021 version pointed clients to the Greek regulator, and that sentence has been removed.

Exit conditions1 clause flagged

Your trade confirmations and account statements become final if you do not object within five working days. After that AAAFx treats them as correct and binding on you, even when they are wrong.

Why this matters

You get five working days to catch a mistake in your own statement. Miss that window and you have agreed to it. A second document cuts the same kind of claim down to twenty-four hours.

Exhibit 6CriticalHarder than usual5 working days

shall be deemed correct, conclusive and binding upon you if not objected to immediately by email if orders were placed through AAAFx Global Ltd Online Trading System or by telephone to the Trading Desk, within five Business Days of making such confirmations available to you via our website
Clause 9.12.4 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.12
Read from the broker's site on Open the reference

AAAFx sells in the languages of countries its contract refuses

AAAFx runs its site in 10 languages, and 4 of them are Turkish, Russian, Chinese and Indonesian. Clause 3.6 of the agreement behind the signup form bans residents of Turkey, Russia, China and Indonesia. The same pattern runs through its promises: all strategies allowed against a clause that can call them abuse, and negative balance protection stated flatly on the page and left to AAAFx's discretion in the contract.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Language arbitrage2 clauses flagged

The account types page says all trading strategies are allowed and points one account at scalpers. Your contract lets AAAFx treat fast trading on its own price errors as abuse and take the profits back.

Why this matters

The strategy the site invited you to use is the one the contract can punish. You carry the risk of that judgement, and AAAFx makes it alone.

Exhibit 10WarningHarder than usual

Should you execute trading strategies with the objective of exploiting such misquotation(s) or act in bad faith (commonly known as ‘sniping’), AAAFx Global Ltd shall consider this as unacceptable behavior.
Clause 9.13.2 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.13
Read from the broker's site on Open the reference

The funds safety page says you cannot lose more than your account balance. Your contract grants that protection only while AAAFx decides, at its sole discretion, that the loss was not your fault.

Why this matters

In the one moment this matters, a sharp move against you, AAAFx decides whether the protection applies. The page you read attached no condition to it.

Exhibit 14WarningHarder than usual

the client cannot lose more than his/her overall invested capital (deposit), as long as AAAFx Global Ltd determines at its sole discretion and in good faith, that the occurrence of such negative balance is not due to any malicious or abusive behavior of the Customer
Clause 9.11 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.12
Read from the broker's site on Open the reference
Set against a regulated standard: ESMA (EU), FCA (UK)

Under ESMA and FCA rules, negative balance protection for a retail CFD client is an unconditional account level guarantee, not a discretionary one. This contract makes it conditional on the firm's own assessment.

AAAFx is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The AAAFx bonus lowers your leverage and adds a stop out

The AAAFx 100% deposit bonus caps leverage at 200x, against the 500x every account page advertises. Clause 4 of the bonus policy triggers a bonus stop out that closes all open trades once your own funds run out, while the bonus page sells delayed stop out protection. You must request the bonus within 24 hours of depositing and before placing any trade.

Bonus conditions1 clause flagged

Taking the 100% deposit bonus caps your leverage at 200x, down from the 500x every account page advertises. If your own money runs out, a bonus stop out closes every open trade you hold.

Why this matters

The bonus page sells you delayed stop out protection. The policy adds a stop out instead, and you must request the bonus within 24 hours of depositing and before you place a single trade.

Exhibit 13WarningHarder than usual200

Accounts participating in this promotion may use leverage of up to 200x, increasing trading flexibility and capacity.
Clause 1 in Bonus Policy Agreement, p.1
Read from the broker's site on Open the reference
Our own capture of aaafx.com, taken on Sep 29, 2026The claim, on Advantages panel on the 100% deposit bonus pageVisit this page on the broker's siteDownload the full size image file

AAAFx calls identity checks optional until you ask for your money

The AAAFx deposits page says identity checks are optional to keep onboarding simple. Clause 9.18.2 says failing those checks to the company's satisfaction can affect your ability to withdraw. Clause 8.1 says your documents must be approved before you place an order, so the two accounts of the same requirement do not agree.

Verification1 clause flagged

The deposits page tells you identity checks are optional so that signing up stays simple. Your contract says failing those checks to AAAFx's satisfaction can stop you taking your money out.

Why this matters

You can deposit and trade without finishing verification, then meet it when you ask to be paid. The standard you must satisfy is AAAFx's own satisfaction, which the contract does not define.

Exhibit 11WarningHarder than usual

Please note that a client's failure to complete the Company's due diligence procedure to the Company's satisfaction may affect the client's ability to withdraw his funds.
Clause 9.18.2 in Retail Client Agreement (AAAFx Global Ltd, Comoros), p.14
Read from the broker's site on Open the reference

AAAFx says it is not your counterparty, for now

The AAAFx conflicts policy says the firm does not trade as your counterparty and limits that to this moment. It also discloses that a liquidity provider pays AAAFx a percentage of the spread on your trades, so your costs are its revenue. The document belongs to Sikhula Venture Capital (PTY) Limited, not to the company named in the signup agreement.

Whose side1 clause flagged

AAAFx says it does not trade as your counterparty, and limits that promise to this moment. Its liquidity provider pays it a share of the spread on your trades, so your trading costs are its income.

In plain words

Remuneration means payments it receives.

Why this matters

Nothing here stops AAAFx becoming the other side of your trades later. The document making this promise belongs to Sikhula Venture Capital, not to the company you signed with.

Exhibit 12WarningRarely seen

To this moment AAAFx does not trade as your counterparty and does not receive remunerations from Liquidity Providers based on your losses.
Quoted in Information regarding the Conflicts of Interest Policy of Sikhula Venture Capital (PTY) Limited, p.3
Read from the broker's site on Open the reference

Our readingConflicts policies normally state a firm's dealing model as a standing fact. Limiting it to this moment leaves the firm free to change model without amending anything, and the reader has no way to know when that happens.

The licences AAAFx advertises belong to other companies

The AAAFx regulations page names a Greek regulator and a South African one, and that page is shown only to visitors in South Africa. Neither licence belongs to AAAFx Global Ltd, the company in the signup agreement. The 2021 version of that agreement carried membership of an investor compensation fund capped at 30,000 euros; the current version names no scheme and lets client money sit in any country.

Supervision2 clauses flagged

The 2021 version of this agreement put AAAFx in a Greek investor compensation fund and capped payouts at 30,000 euros. The current agreement names no compensation scheme at all.

Why this matters

If AAAFx cannot pay you back, no fund stands behind it. You would rank as an ordinary creditor, and the contract now lets it hold your money in any country.

Exhibit 15WarningHarder than usual$30000

Any compensation provided to you by the Guarantee Fund shall not exceed thirty thousand Euros (30,000).
Clause 19.8 in RetailClientAgreement
Read from the broker's site on Open the reference

AAAFx advertises a Greek regulator and a South African one on its regulations page. Neither licence belongs to AAAFx Global Ltd, the company named in your signup contract. That company answers to the Comoros.

Why this matters

The supervision on display protects clients of other companies. The page is also shown only to visitors in South Africa, so most readers never see the entity list at all.

Exhibit 16NoticeHarder than usual

Sikhula Venture Capital (PTY) LTD An authorised Financial Services Provider FSP No: 49299
Quoted in FAIS Upfront Disclosure Document, p.1
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

AAAFx sells itself in Turkish while the contract behind the signup form refuses residents of Turkey.

Said in public, in Turkish

En güvenilir ve en uzun süredir hizmet veren Çoklu Varlık Brokerlerinden biri

Word for word in English: One of the most trusted and longest serving Multi-Asset Brokers

Turkish homepage headline, above a Create an account button, selected with the site's own language switcher

In the contract · clause 3.6

Currently the Company does not accept new clients and/or the opening of new accounts from Afghanistan, Belarus, Burundi, China, Congo, Crimea Ukraine, Cuba, India, Indonesia, Iran, Iraq, North Korea (Democratic People's Republic of Korea), Palestine, Romania, Russia, Sri Lanka, Sudan, Syria, Taiwan, Turkey, United States of America, Venezuela, Yemen, Hong Kong.

02

The site runs a full Russian version while the contract refuses residents of Russia.

Said in public, in Russian

Один из самых заслуживающий доверия & Самая длинная порция Брокер с несколькими активами

Word for word in English: One of the most trustworthy and longest serving Multi-Asset Broker

Russian homepage headline, above a Create an account button, selected with the site's own language switcher

In the contract · clause 3.6

Currently the Company does not accept new clients and/or the opening of new accounts from Afghanistan, Belarus, Burundi, China, Congo, Crimea Ukraine, Cuba, India, Indonesia, Iran, Iraq, North Korea (Democratic People's Republic of Korea), Palestine, Romania, Russia, Sri Lanka, Sudan, Syria, Taiwan, Turkey, United States of America, Venezuela, Yemen, Hong Kong.

03

The FAQ promises payment within 24 hours while the contract starts the clock only after an approval it never time limits.

Said in public, in English

We offer instant withdrawal processing. Any withdrawal raised is processed within 24 hours.

FAQ answer to How long does it take to process a withdrawal

In the contract · clause 9.18.1

Once your withdrawal request is approved, your withdrawal request will be processed by us and sent for execution to the same bank, credit card or other source from which the funds were debited or as we, in our absolute discretion determine, as soon as possible.

04

Identity checks are advertised as optional and then used as the condition on getting your money out.

Said in public, in English

We fully support KYC. It’s optional to keep onboarding simple, but we recommend it for added security.

Increased control panel on the deposits and withdrawals page

In the contract · clause 9.18.2

Please note that a client's failure to complete the Company's due diligence procedure to the Company's satisfaction may affect the client's ability to withdraw his funds.

05

The site allows every strategy while the contract reserves the right to call fast trading abuse and reclaim the profits.

Said in public, in English

All trading strategies allowed

Feature list at the top of the account types page, alongside an account described as suitable for scalpers and high-frequency traders

In the contract · clause 9.13.2

Should you execute trading strategies with the objective of exploiting such misquotation(s) or act in bad faith (commonly known as ‘sniping’), AAAFx Global Ltd shall consider this as unacceptable behavior.

06

The funds safety page calls AAAFx a fiduciary and the risk disclaimer denies any fiduciary duty.

Said in public, in English

Responsible Fiduciary

Heading on the Safety of Funds page, above the line Client funds are safely held in secure bank accounts

In the contract

Customer agrees that AAAFx and its Liquidity Providers have no fiduciary duty to Customer

07

The page states the protection without conditions and the contract makes it depend on AAAFx's own judgement.

Said in public, in English

The clients cannot lose more than their account balance.

Negative balance protection panel on the Safety of Funds page

In the contract · clause 9.11

the client cannot lose more than his/her overall invested capital (deposit), as long as AAAFx Global Ltd determines at its sole discretion and in good faith, that the occurrence of such negative balance is not due to any malicious or abusive behavior of the Customer

08

The bonus is sold as delayed stop out protection and the policy gives it an extra stop out that closes every trade.

Said in public, in English

Extended Stop Out Protection Benefit from delayed stop out with your bonus, allowing your trades extra flexibility in changing market conditions.

Advantages panel on the 100% deposit bonus page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of aaafx.com

In the contract · clause 4

If you’re your own funds are fully depleted due to trading activity and only bonus amount is left in the equity, a Bonus Stop-Out shall be triggered. In this case, all open trades in the account will be automatically closed and the Bonus will be removed from the account.

09

AAAFx advertises no hidden fees above a contract that charges a monthly fee whose amount it publishes nowhere.

Said in public, in English

No hidden fees

Line under the Register Now button on the 100% deposit bonus page

In the contract · clause 9.21.1

AAAFx, shall have the right to charge the Inactive Account with a monthly Inactivity Fee for each month the Account has been and remains inactive. The applicable fee is published in the relevant charges section in our website as provided in Clause 5.1 herein.

What changed quietly

This is our first reading of AAAFx, so there is no previous version of this page to compare against. The archived copies of the client agreement do show what AAAFx changed in its own documents: the counterparty, the governing law, the complaints route and the investor compensation fund.

  • REWRITTENClause 9.21.1

    The dormancy clause used only to label an account inactive. It now charges it every month, at an amount the contract does not state.

    In this case, the Customer acknowledges and agrees that AAAFx, shall have the right to charge the Inactive Account with a monthly Inactivity Fee for each month the Account has been and remains inactive. The applicable fee is published in the relevant charges section in our website as provided in Clause 5.1 herein.

  • REWRITTENClause 19.8

    The route to take a complaint past AAAFx to a regulator was cut out of the clause.

    We will send you a written acknowledgement of your complaint promptly following receipt, enclosing details of our complaints’ procedures.

  • REMOVEDClause 19.8

    Membership of an investor compensation fund worth up to 30,000 euros per client is gone, and nothing replaces it.

  • REWRITTENClause 3.1

    The company you contract with changed from a Greek firm with a named regulator to a Comoros company with none.

    The registered office of AAAFx Global Ltd is located at P.B. 1257 Bonovo Road, Fomboni, Comoros, KM.

  • REWRITTENClause 20.1

    Any dispute now runs under Comoros law in Comoros courts instead of Greek law in Greece.

    This Agreement shall be governed by and construed in accordance with the laws of the Comoros Union

  • REWRITTENClause 11.1

    Client money was held inside the European Union by default. It can now sit in any country.

    We will endeavor to hold client money on your behalf segregated at AAAFx Global Ltd “client money” accounts. We may hold bank accounts in any country, given that it satisfies the regulatory requirement.

  • REWRITTENClause 3.6

    The banned country list grew to include China, India, Indonesia, Russia, Turkey, Taiwan and Hong Kong, four of which AAAFx markets to in their own language.

    Currently the Company does not accept new clients and/or the opening of new accounts from Afghanistan, Belarus, Burundi, China, Congo, Crimea Ukraine, Cuba, India, Indonesia, Iran, Iraq, North Korea (Democratic People's Republic of Korea), Palestine, Romania, Russia, Sri Lanka, Sudan, Syria, Taiwan, Turkey, United States of America, Venezuela, Yemen, Hong Kong.

The documents this reading is based on

19 files, all published by AAAFx. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording AAAFx publishes.

How this reading was done

Every clause above was read out of a document AAAFx publishes itself

This reading was published on .

Documents
8 of 19downloaded from the broker's site, and 8 read in full
Pages opened
58pages walked to find those documents, footer links included
Older copies
6earlier versions downloaded
Languages
EN vs RU vs TRthe language it advertises in, against the language it contracts in

Who the contract is with

AAAFx Global Ltd

Register through the AAAFx signup form and you accept a Retail Client Agreement naming AAAFx Global Ltd, registered at P.B. 1257 Bonovo Road, Fomboni, Comoros, under the laws of the Comoros Union. The public site links a file with the same name that instead names Sikhula Venture Capital (PTY) Ltd, incorporated in South Africa and licensed there by the FSCA. The conflicts of interest policy, the client assets document and the FAIS disclosure all belong to Sikhula Venture Capital, not to the company in your contract. AAAFx Global Ltd is also not the Greek firm that built the brand: Triple A Experts Investment Services S.A. still powers the trading platform under the agreement's own definition. The FAQ dates the business to 2007 and quotes a Comoros licence number, BFX2025097, while the footer gives registration number HT00725072. Our own record placed this broker in Saint Vincent and the Grenadines; the documents do not support that, and a leftover mention of St Vincent in the FATCA definition is the only trace of it.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

The account types page publishes numbers most brokers hold back: commission per $100,000 per side, minimum deposits, and the margin call and stop out levels at 70% and 50%. Negative balance protection is stated plainly in the Risk Disclaimer. That document is careful work, covering long and short positions, leverage and the credit risk you take on an over the counter broker. The Conflicts of Interest Policy is franker than most: it admits the liquidity provider pays AAAFx a share of the spread on your trades. AAAFx also refunds losses from its own platform errors, which few brokers offer, and gives ten business days notice before changing the agreement.

Six documents on record have been taken down, and the addresses that held them now lead to an ordinary web page instead of a file. We did not read the old retail client agreement, the old customer agreement, the old refund policy, the old risk disclaimer, the old conflicts of interest policy or the candidates privacy notice. AAAFx shows its regulations page only to visitors in South Africa, and that page is the only route to seven of its legal documents; we read that page and those files. We read the Comoros client agreement end to end. In the South African agreement and the two privacy policy versions we read selected sections only. Two archived copies from January 2025 could not be opened, so the risk disclaimer and conflicts of interest policy could not be compared word by word against their older versions. We did not look inside the client portal, which needs an account. Every quotation credited to a file comes from that file.

How to check any of this yourself

Every quote above links to the AAAFx file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document AAAFx publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge AAAFx on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 29, 2026.

If you represent AAAFx and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on AAAFx. Whether its licence is real and current is a separate check on the broker profile.

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