Overview of Aura FX
AuraFX is a New Zealand-based forex and CFD broker founded in 2013. The company offers a diverse range of tradable assets, including over 50 currency pairs, CFDs on commodities and indices, as well as CFDs on oil, gas, gold, and silver. Traders can access these markets through the popular MetaTrader4 (MT4) platform, which is available for both desktop and mobile devices. AuraFX provides a maximum leverage of 1:200 and offers fixed spreads averaging 0.4 pips on the EUR/USD pair, with no commissions charged on trades.
Regulation
Aura FX does not operate a regulated broker. Traders should be aware of the risk.
Pros and Cons
On the plus side, AuraFX offers a diverse range of tradable assets - including forex, CFDs on commodities, indices, oil, gas, gold, and silver. It also provides solid leverage up to 1:200 and low spreads from 0.1 pips with no commissions. However, there are some drawbacks to consider: worryingly, AuraFX is not regulated, potentially lacking oversight. Moreover, the $1,000 minimum deposit is quite high. There have been reports of withdrawal issues too. And customer support is only available in English.
Market Instruments
AuraFX provides traders with rich and popular tradable instruments to trade. In addition to offering over 50 currency pairs for forex trading, the broker allows its customers to trade CFDs on a variety of asset classes. These include CFDs on commodities such as oil, gas, gold, and silver, as well as CFDs on popular indices.
Account Types
When it comes to account types, AuraFX provides two options: a standard ECN account or an account with individually tailored conditions. Additionally, traders have the option to open a managed account, catering to those who prefer a more hands-off approach. The broker accommodates several account currencies, including NZD, AUD, USD, EUR, GBP, and AUS, adding convenience for traders from various regions. However, traders have to deposit at least $1,000 to open an account. This is a rather high threshold for a broker of this level.
Leverage
When it comes to leverage, AuraFX offers a competitive maximum leverage of 1:200. Although it is a solid ratio, it is not necessarily a good option for most traders, especially beginners.
Spreads & Commissions
AuraFX's spread and commission structure is designed to be cost-effective for traders. The broker offers competitive spreads starting from 0.1 pip, with an average spread of 0.4 pip on the widely traded EUR/USD currency pair. Notably, AuraFX does not charge any additional commissions on trades, which can contribute to lower overall trading costs for its clients. This commission-free structure can be particularly attractive for traders who engage in high-frequency trading or those who prefer a straightforward pricing model.
Trading Platform
AuraFX has chosen to offer the widely popular MetaTrader4 (MT4) platform to its clients. This decision ensures that traders have access to a user-friendly and feature-rich trading environment that is familiar to many in the industry. The MT4 platform is available for both desktop and mobile devices, allowing traders to monitor and execute trades seamlessly across multiple platforms, catering to their preferred trading style and convenience.
Deposit & Withdrawal
For funding their accounts, traders can use popular payment methods such as VISA, MasterCard, Neteller, and Skrill. This variety of options caters to traders with different preferences and ensures a smooth and efficient deposit process. Similarly, when it comes to withdrawals, AuraFX offers multiple options, including bank wire transfers (BankTransfer/SWIFT), VISA, MasterCard, Neteller, and Skrill, providing traders with flexibility and accessibility when managing their funds.
Customer Support
Clients can reach out to the broker's support team through various channels, including phone, email, and social media platforms. However, it is important to note that AuraFX currently offers customer support services in English only, which may present a limitation for traders who prefer to communicate in other languages.
Phone: +64 988 97 872
Email: info@aura-fx.com
Social Media:
Linkedin: https://www.linkedin.com/company/aura-fx
Youtube: https://www.youtube.com/channel/UCrhIMR_qP0XUjSSuRku_p0Q
Conclusion
In conclusion, AuraFX presents itself as a broker offering a diverse range of trading instruments, competitive trading conditions, and a user-friendly trading platform. However, it is important to note that the broker is not regulated, posing great risks for investors. What's more, while AuraFX provides several deposit and withdrawal options, the high minimum deposit requirement and potential withdrawal issues should be considered.
FAQs
Q: Is AuraFX a regulated broker？
A: No, according to the information provided, AuraFX is not a regulated broker.
Q: What is the minimum deposit required to open an account with AuraFX？
A: The minimum deposit required to open an account with AuraFX is $1,000.
Q: Does AuraFX charge any commissions on trades？
A: No, AuraFX does not charge any commissions on trades.
Q: What is the maximum leverage offered by AuraFX？
A: AuraFX offers a maximum leverage of 1:200.
Q: What customer support channels are available for AuraFX traders？
A: AuraFX provides customer support through phone (+64 988 97 872), email (info@aura-fx.com), and social media platforms like LinkedIn and YouTube.
Risk Warning
Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.
