AirFX

Company Name:	AIR J FX, Ltd
Website:	airfx.co
Supposed Address:	Leevie Herelle & Associates, Top Floor, Compton Building, William Peter Boulevard, P.O. Box CP6462, Castries, St. Lucia
Phone:	-
Email:	[email protected]

Introduction

AirFX, a relatively new entrant in the online trading scene, offers access to a variety of financial instruments, including forex, stocks, indices, and cryptocurrencies. Operating under the umbrella of AIR J FX, Ltd., a company registered in St. Lucia, Air FX is not available for US and Canadian citizens. It is important to note that Hero FX has recently acquired Air FX, so information within this review may be subject to change.

AirFX Regulation and Security

Regulation serves as a cornerstone of trust and security, ensuring brokers adhere to stringent standards of conduct, financial transparency, and client fund protection. Unfortunately, Air FX falls short in this critical aspect.

Regulatory Status:

Air FX operates without regulation from any recognized financial authority. This means that there is no external oversight or supervision of their operations, leaving traders vulnerable to potential risks and misconduct.

Furthermore, AirFX’s parent company, AIR J FX, Ltd., is registered in St. Lucia, a jurisdiction known for its lax regulatory environment. The Financial Services Regulatory Authority (FSRA) of St. Lucia clearly states that “forex trading activities are not regulated” in their territory, underscoring the unregulated nature of AirFX’s operations.

AirFX Account Types and Trading Conditions:

Account Types:

AirFX provides three distinctive account types, Let’s explore these account types in more detail:

• Zero Commission: This account, as the name suggests, boasts zero commission fees, making it potentially attractive for frequent traders aiming to minimize costs. It offers raw spreads starting from 0.01 pips and allows hedging and the use of Expert Advisors (EAs).
• Raw Spread: Similar to the Zero Commission account, the Raw Spread account also provides access to raw spreads from 0.01 pips. However, it comes with low, flat-rate commissions, the details of which are not readily available on the website. Hedging and EA trading are permitted.
• Islamic Account: Catering to traders adhering to Islamic principles. It also features raw spreads from 0.01 pips and allows hedging and EA trading. Additionally, it offers a 100% deposit bonus, though the terms and conditions of this bonus are not explicitly stated.

Trading Platform:

AirFX utilizes the renowned MetaTrader 5 (MT5) platform, a powerful and versatile trading platform favored by traders worldwide. MT5 offers an array of features, including advanced charting tools, technical indicators, and the ability to develop and deploy automated trading strategies (EAs).

Its user-friendly interface and multi-device compatibility make it suitable for both novice and experienced traders.

Tradable Assets:

AirFX claims to offer access to a variety of asset classes:

• Forex: Major, minor, and exotic currency pairs.
• Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) are currently available.
• Indices: Major global stock indices.
• Metals: Precious metals like gold and silver.
• Stocks: CFDs on select stocks.
• Energies: Crude oil and natural gas.
• Futures: Access to various futures contracts.

Leverage:

Information about leverage options is notably absent from AirFX’s website. Leverage, while enabling traders to control larger positions with smaller capital, also amplifies potential losses. The lack of transparency about leverage limits raises concerns about potential risks, especially for inexperienced traders.

AirFX Deposits and Withdrawals:

Air FX presents a limited selection of deposit and withdrawal methods, which might pose challenges for some traders, particularly those seeking flexibility in funding and accessing their funds.

Deposit Methods:

AirFX minimum deposit for transactions is set at $250.

• Cryptocurrencies: AirFX currently accepts deposits in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) via the ERC-20 network.
• Credit/Debit Card: Traditional card payments via Visa and Mastercard are supported, though specific details about processing times and potential fees.
• Wire Transfer: While a common method for larger deposits and withdrawals, wire transfers often involve longer processing times and potential bank fees.
• Apple Pay/Google Pay: These mobile payment options offer convenience, but their availability and associated fees might vary depending on your location and financial institution.

Withdrawal Methods:

Unfortunately, AirFX’s website does not provide explicit information about the available withdrawal methods or associated fees. AirFX claims that “withdrawals are reviewed by our financial department throughout the day.”

Withdrawal Issues:

User reviews on Trustpilot raise significant red flags regarding the withdrawal process at AirFX. Many users report experiencing delays, difficulties in getting their withdrawals processed, and a lack of responsiveness from customer support.

AirFX Customer Support:

AirFX asserts that its customer support team is “available 24/7 to assist you with any needs you encounter.” You can reach their customer support team through the following channels:

• Submitting a Ticket: As highlighted on their website, the primary method for contacting support is through their online ticket submission system. Access this by clicking on the “Profile” tab and selecting “Help Desk,” or use the direct “Help Desk” link at the upper right corner of your window.
• Email: For less urgent matters or detailed explanations, you can also reach out to AirFX via
  [email protected].
• Social Media: The broker maintains a presence on various social media platforms, including Instagram, Facebook, and X (formerly Twitter). These channels can be useful for quick updates and general inquiries.

AirFX User Reviews

Understanding the experiences of other traders can offer valuable insights into a broker’s strengths and weaknesses beyond what’s presented on their official website. Let’s analyze the feedback surrounding AirFX, particularly focusing on Trustpilot reviews:

The presence of negative reviews on Trustpilot, particularly regarding withdrawal issues, casts a concerning shadow over AirFX’s reputation. While it’s important to note that the current sample size is relatively small, with only 13 reviews at the time of this writing, the recurring patterns of complaints cannot be ignored.

Conclusion: Tread Carefully with AirFX

AirFX, while offering the MT5 platform and competitive spreads, raises serious concerns due to its unregulated status and negative user feedback regarding withdrawals.

The lack of regulatory oversight exposes traders to significant risks, making it a questionable choice, especially for beginners. Remember, forex trading is inherently risky; trade responsibly and only invest what you can afford to lose.

FAQ