The Forex world can be a minefield of pips, margins and ever fluctuation profits, but there’s an easy way to make money in the market and that’s through automated trading. Taking away much of the decision-making process from the novice user, automated FX trading sites like Aforex.com are a great way to make a lot of money with a little bit of knowledge.
Established in 1998 as a Forex education company, Aforex eventually evolved into a signal service site that provides an automated copier service for traders. Providing links with MetaTrader 4’s platform, users have access to the currency exchange activity from a large database of experienced professionals.
Aforex.com’s Special FX:
Arguably the biggest selling point to this FX broker is its access to financial knowledge. By linking beginners to professional traders they instantly have the ability to learn the market whilst actively trading. While no trades are ever guaranteed in the FX market, the ability to mimic the moves of those with more knowledge is an asset worth paying for.
Aforex operates on a subscription basis with a monthly fee of $199. Once subscribed, users can choose to use the MT4 or PAMM strategy copiers which assess trades placed on various accounts to determine the ones which are most likely to succeed.
By using a series of algorithms to compare trades against a set of predefined strategies, Aforex.com’s system will then automatically copy the actions onto a users account within their personal parameters. Any broker can be used as long as the user has the MT4 platform.
The two account options available are:
AFX-F: This account focuses on long position currency trades and offers access to multiple pairs. The maximum number of concurrent open trades is between 8 and 10 and stop loss limits are variable. Moreover, a take profit limit of 100 pips is in place to help you cash out when you’ve made a healthy margin.
The currency pairs available for trade on this account are: EUR/USD, USD/CHF, GBP/USD, EUR/JPY, USD/JPY, and GBP/JP.
AFX-Select: This option works on any account and the default trade size offered is 0.1 pips for every $5,000. Leverage can also be decreased or increased at will when trading various currency pairs that include: EUR/USD, USD/CHF, GBP/USD, EUR/JPY, USD/JPY, and GBP/JPY. Traders on this account can have a maximum of 5 open trades at once, making it great for mid-range trading.