- My Opinion On AZAforex
- Key Details
- Pros & Cons
- Company Details
- AZAforex Accounts
- How To Open An AZAforex Account
- Chinese & American Options
- Expiry Times
- CFD Trading
- Platforms & Apps
- How To Trade Binaries On Mobius 7
- Payment Methods
- How To Make A Deposit To AZAforex
- Demo Account
- Bonus Offers
- Customer Service
- Should You Trade Binary Options With AZAforex?
- Is AZAforex Legit?
- Is AZAforex Regulated?
- Who Is AZAforex Best For?
- Is AZAforex Good For Beginners?
- Does AZAforex Have An App?
- Article Sources
My Opinion On AZAforex
Based on my assessment, AZAforex offers competitive conditions for short-term binary options traders. Payouts are high at 90% on popular assets and the $1 minimum investment is accessible for beginners. I also rate the wide range of convenient and low-cost deposit options, making it easy to get started.
Looking at the negatives, the broker is unregulated, lowering its trust score. I was also disappointed by the slow customer support while using AZAforex, plus you can’t trade binaries on stocks or crypto.
- Binaries: 50+ on forex, commodities and indices
- Minimum stake: $1
- Maximum payout: 90%
- Expiry Times: 30 seconds – 1 day
- Trading Platform: Mobius Trader 7
- Live Accounts: Start, Pro, VIP
- Demo Account: Yes
Pros & Cons
- Excellent choice of payment methods including e-wallets and crypto
- Unlimited demo account for testing binary options strategies
- Payouts of up to 90% on global assets including currency pairs
- Beginner-friendly platform available on desktop, web and mobile
- Turbo binaries from 30 seconds
- Very low minimum deposit of $1
- The platform trails alternatives when it comes to advanced features and analysis
- No binary options trading on stocks or cryptocurrencies
- Unregulated broker with some negative user reviews
- Slow customer support during testing
AZAforex is an unregulated broker, based in the Marshall Islands. This is not unusual as some countries have banned this type of derivative, and there are several reliable binary options brokers that operate without robust regulatory oversight.
With that said, trading with unregulated brokers carries a degree of risk because there is no neutral body to provide oversight and ensure the company adopts fair business practices. And with some poor reviews from other users online, I recommend only investing what you can afford to lose.
On a more positive note, I was reassured to see that AFAforex employs safeguards which I consider key, including segregating client funds from business capital in trusted banks. In addition, the brokerage has been operating since 2016 and has over 120,000 registered users.
AZAforex offers binary options trading on all three of its accounts: Start, Pro and VIP.
My findings show that the accounts differ by their minimum deposits – $1 for Start, $2000 for Pro and $10,000 for VIP – with the higher-tier accounts offering more favorable spreads.
Besides spreads, the Pro and VIP accounts have a wider range of CFDs than the Start account, including 9 currency pairs that can be traded via ECN execution and 11 currency pairs that can be traded with fixed spreads.
Importantly, the jump from the 1.1-pip minimum spread on the Start account to the 0.5-pip minimum on the Pro account is quite significant, so active traders who can afford the minimum deposit may prefer the Pro account. However, the 0.3-pip minimum on the VIP account requires a $10,000 minimum deposit, which may be out of reach for many beginners.
Besides this, I found that the payouts and most other features are the same for all three account types. This extends to the multiple base currencies, which include BTC, BCH, ETH, GBP, USD, EUR, JPY, AUD, CAD, CHF, and NZD.
I have pulled out the key features of each account below.
- Execution: Market
- Minimum Deposit: $1
- Spreads: 1.1-pip minimum
- Binary Options: 59
- Execution: Market, ECN
- Minimum Deposit: $2,000
- Spreads: 0.5-pip minimum
- Binary Options: 60
- Execution: Market, ECN
- Minimum Deposit: $10,000
- Spreads: 0.3-pip minimum
- Binary Options: 60
How To Open An AZAforex Account
I didn’t have any issues signing up for an AZAforex account. It took me less than 5 minutes by following these steps:
- Choose which account you would like to open
- Enter basic personal details; your first and last name, email address, and phone number, and create a password
- Once this is done you will be immediately sent an email with your login details and a password you will need to make withdrawals
- The email also has a link to the web version of the Mobius trading platform. This is automatically linked to your AZAforex portal
- Sign in with your login credentials and make a deposit to start trading binaries
Chinese & American Options
While using AZAforex, I could trade Chinese and American options.
Usually American options refer to contracts that can be settled before the expiry time. However in this case, it refers to the way the broker deals with the spread.
With the Chinese options, the bet opens at the ask price when speculating on rising prices and the bid price when speculating on falling prices. Importantly, there is no delay.
But with American options, there is no spread – traders receive the middle point between the bid and ask prices, but with a delay of 60 seconds.
AZAforex offers binary options trading on 50+ global markets. You can speculate on popular forex pairs like the EUR/USD, major indices like the S&P 500, plus precious metals and energies like gold and oil.
On the downside, you can’t trade binaries on stocks or popular cryptocurrencies. If you want to trade binaries on these markets, I recommend an alternative like Quotex.
The broker has low entry requirements, with a minimum stake of $1 and a maximum bet $1000. This will appeal to new traders with less capital.
I feel AZAforex could be more transparent about its payouts. The broker advertises very high payouts, starting from 170% for 30-second contracts and going all the way up to 195% for a 1-day contract.
However, during my tests of AZAforex’s platform, the highest payouts I got were 90%. I think the broker has included the returned stake in the high figures on the website, hence payouts exceed 100%.
With that said, payouts of 90% are still competitive and higher than several binary options brokers I have evaluated. It also nearly matches top-rated brokers like Pocket Option, which pays out up to 92%.
To give you a clearer picture of the returns you can expect, I have pulled out the payouts I got while using AZAforex:
- 70% for trades that expire between 30 seconds and 45 minutes
- 75% for trades that expire between 1 hour and 5 hours
- 80% for trades that expire between 6 hours and 11 hours
- 85% for trades that expire between 12 hours and 20 hours
- 90% for trades that expire up to a day
AZAforex offers a good range of contract lengths and I was pleased to have the option of turbo contracts from 30 seconds up to 1-day contracts. I think this will satisfy many aspiring investors, particularly short-term traders.
My only minor complaint is that the broker won’t serve longer-term traders. If you want binaries up to 1 year, I recommend an alternative like Deriv.
Unlike many binary options brokers I have used, AZAforex offers portfolio diversification through CFDs. These leveraged contracts offer opportunities on rising and falling prices.
During my review of AZAforex, I could trade CFDs on 45+ forex pairs, 100+ stocks, 10 indices, 10 cryptos, plus metals and energies. The stock CFDs include big names such as Apple, Amazon, Google, and Nike, while the breadth of currency pairs covers majors, minors and exotics.
Overall, this is a reasonable offering and includes a variety of higher- and lower-volatility assets that I enjoy trading.
I found that high leverage up to 1:1000 is available on CFDs. This can be beneficial for traders looking to magnify their returns but should be used with caution due to the risks associated with high leverage.
Platforms & Apps
I placed many trades on the Mobius Trader 7 platform while using AZAforex and was impressed with the intuitive and user-friendly design. It has an uncluttered layout with a chart in the middle of the interface, a widget for placing trades on the left, and a list of open contracts at the bottom.
The other strengths for me are the choice of four charting styles and the range of timeframes, from 1 minute to 1 month. The fact it is available on desktop, web, and mobile, also provides important flexibility, allowing me to trade from my preferred device.
Looking at the negatives, the platform isn’t the best for serious technical analysis. While the 15 indicators and handful of drawing tools will meet the needs of many beginners, it lacks the advanced technical analysis functions I have seen on other platforms.
Overall, it is a clean, easy-to-use platform for beginners, but lacks the depth and advanced features found on the top platforms.
How To Trade Binaries On Mobius 7
I find it quick and easy to trade binaries on AZAforex’s platform. To get started:
- Sign in to your Mobius 7 account
- Press ‘Options’ at the top of the trading screen
- Choose between ‘Chinese’ and ‘American’ options
- Decide on the timeframe of the contract
- Enter the amount you wish to stake
- Review the potential payout
- Select ‘Sell’ or ‘Buy’
Binary options brokers make their money through the payout system, so traders will not need to pay any commission on their trades. Instead, the fees effectively come from unsuccessful trades.
I was also pleased that there are no deposit and withdrawal fees charged by AZAforex. You may however be subjected to charges by your payment provider.
AZAforex offers a wide range of payment methods, making it accessible to traders around the world.
I see the large suite of payment options as a significant advantage, and I have been impressed that AZAforex covers any fees incurred from deposits of at least $100 by e-wallet, $300 by card or $1000 by bank transfer.
Accepted payment methods include:
- Bank cards
- Wire transfer
- E-wallets including KUNA, Perfect Money, NIX Money, Capitalist, Alpha Cash, and more
- Cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Tether, and others
How To Make A Deposit To AZAforex
The cashier portal is intuitive. It only takes a couple of minutes to fund your account.
- Log in to your AZAforex account
- Press the ‘Deposit’ button next to the account you wish to deposit funds into
- Select the payment method from the menu on the left, then press ‘Deposit Funds’
- Follow the on-screen instructions and click ‘Confirm’ to complete the transaction
AZAfrex offers some research tools, though I feel the overall offering is fairly weak. While market analysis was regularly updated in the past the frequency of updates has decreased since February 2023.
Market analysis typically provides insights into potential trends and can assist investors in making informed decisions, so it is disappointing to find that these are not kept up to date.
With that said, AZAforex does provide an economic calendar, which I find useful for keeping abreast of market events.
The broker maintains a blog that covers fundamental trading topics, including trading psychology and beginner lessons. These resources may prove valuable for new traders, though they don’t match the depth or quality of training materials I have seen at alternatives.
A structured academy-style setup with a clear learning path and courses would be easier to navigate and add value in my opinion.
AZAforex’s free demo account is a great benefit. It can be easily accessed via the broker’s website, and since it can be re-loaded with virtual funds, you can use it indefinitely, which is an advantage over many brokers.
If you are new to the Mobius Trader 7 platform, the paper trading mode is a great way to get familiar with the features and functionality.
AZAforex offers a selection of bonus deals. When I signed up for an account, there was a 25% bonus on each cryptocurrency deposit and a 120% loyalty payout. There was also a 30% rebate program on closed orders, totalling $50 for every $1 million traded per month.
You can check the ‘Promo’ tab on the official website for the latest details. Importantly, make sure you review the terms and conditions before opting into promotions.
Also, I never recommend picking a binary options broker based on their bonus deals. There are more important considerations, including trust and reliability, trading conditions, and tools.
AZAforex’s customer support is a weak point based on my experience. Customer service is available 12 hours a day 8am–8pm UTC Monday-Friday, which falls short of the 24/5 or 24/7 opening hours many brokers offer.
Also, response times on live chat were slow during my tests. I had to wait upwards of 1 hour on multiple occasions, which isn’t great when you need fast assistance.
- Live chat: icon bottom right of website
- Telephone: +447723399001
- Email: support@AZAForex.com
- Telegram: @AZAForex
- Skype: AZAForex.com
Should You Trade Binary Options With AZAforex?
My assessment of AZAforex identified several benefits. These include a low minimum deposit, convenient funding options, an unlimited demo account, high payouts of up to 90% and a user-friendly platform.
However, I also found several drawbacks, including weak regulatory oversight, no binaries on stocks or crypto, slow customer support, and average research and education.
Ultimately, my tests concluded that AZAforex is best for new investors looking to trade short-term binaries on forex. However, alternative brokers offer more attractive conditions, especially for serious traders.
Is AZAforex Legit?
AZAforex is a legitimate company registered in the Marshall Islands. The binary options broker has been operating since 2016 and has attracted thousands of global traders. With that said, its weak regulatory oversight and the presence of some negative reviews lower its trust score.
Is AZAforex Regulated?
No, AZAforex is not regulated by a reputable financial body. Whilst common in the binary options industry, traders should be aware they may receive limited legal protection in the case of disputes.
Who Is AZAforex Best For?
AZAforex is best for short-term binary options traders looking to bet on the direction of popular global markets, particularly forex.
It will also serve binary traders looking for a beginner-friendly web platform. Mobius Trader 7 is easy to learn and offers all the features you need to analyze assets and make trades.
Is AZAforex Good For Beginners?
AZAforex offers several attractive features for beginners. This includes a low minimum investment of $1, an easy-to-learn trading platform, access to popular markets, and an unlimited demo account.
Does AZAforex Have An App?
AZAforex offers the Mobius Trader 7 platform which is available for iOS and Android phones. You can download the app for free from the relevant app store. The platform, charts and trading functionality have been optimized for mobile devices.
|Instruments||Binary Options, Forex, CFD, Stocks, Crypto|
|Minimum Trade||0.00001 Lots|
|Ladder Binary Options||No|
|Boundary Binary Options||No|
|Mobile Apps||iOS & Android|
|AI / Machine Learning||No|
|Negative Balance Protection||Yes|
|CFD FTSE Spread||Variable|
|CFD GBPUSD Spread||Variable|
|CFD Oil Spread||Variable|
|CFD Stocks Spread||Variable|
|Forex GBPUSD Spread||Variable|
|Forex EURUSD Spread||Variable|
|Forex EURGBP Spread||Variable|
|Crypto Auto Market Maker||No|
Compare AZAforex with any other broker by selecting the other broker below.