Report a scam Find my broker
Brokers  /  AFAQ TRADE

AFAQ TRADE

High riskForex / CFD broker
Comoros · < 1 year · since 2025-08-18 · Afaq FX Markets (Comoros) LTD
Unregulated
Visit site ↗
—/5
★★★★★ ★★★★★
0 reviews ›
0
Licenses ›
0
Withdrawal issues ›
$4999
Min. deposit ›
—
Max leverage ›
4
Account types ›
62/100
Scam risk ›
0
Clone sites ›
Accounts: Sharia · $20,000 and abovePremium · $20,000 and aboveAdvanced · $5,000 to $19,999Basic · Up to $4,999
▲ 0% positive▼ 0% negative
Independent ratingshow third parties score this broker
WikiFX1.25/10
Trustpilot—/5
Forex Peace Army—/5
🛡️ Been scammed or can’t withdraw from AFAQ TRADE? Our free assistant writes up your case and shows exactly what to do next →
🇺🇸
No sign that AFAQ TRADE actively operates in your country (United States). If you were solicited from here, be extra cautious — it may be an unregulated approach or a clone.
62
High risk
Scam Risk Scoremonitored · 2026-07-28
Lower riskHigher risk
  • No verified regulatory license on file
  • Recently established — about 11 months old
  • Registered in Comoros (offshore, light oversight)
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing8535%
Company age9215%
Clone / impersonation012%
Withdrawal & exposure complaints012%
Offshore registration808%
Transparency (site/info/social)7210%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameAfaq FX Markets (Comoros) LTD
Headquarters Comoros
Founded2025-08-18
Years operating< 1 year
Employees0
Official websiteafaq.trade
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods · --
Withdrawal methods · --
Instruments--

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Account types · 4

AccountMax leverageMin. depositMin. spreadCommissionEA
Sharia--$20,000 and above----✓
Premium--$20,000 and above----✓
Advanced--$5,000 to $19,999----✓
Basic--Up to $4,999----✓

Review analysis AI

AFAQ Trade is an unregulated retail broker offering tiered account types with limited transparency on spreads and leverage. Its elevated scam risk score of 62/100, combined with no verifiable regulatory licence, makes it a high-risk choice. Traders should consider only regulated alternatives.

Best for
  • Traders comfortable with unregulated brokers
  • Small to medium deposit sizes (up to $5,000)
  • Those seeking Islamic (swap-free) accounts with high minimum deposit
  • Traders who prefer mobile trading apps
Not for
  • Traders requiring strong regulatory oversight
  • High-frequency or high-volume traders needing proven execution
  • Investors seeking clear fee disclosures and historical track record
Period:

Real user reviews

Where AFAQ TRADE operates

Active across 4 markets (by market presence). Licensing rarely covers all of them — where it isn’t locally licensed, you’re onboarded under an offshore entity with weaker protection.

🇹🇷 Turkey
🇸🇦 Saudi Arabia
🇮🇳 India
🇮🇱 Israel

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

Similar brokers

N1CM
Comoros · TP 3.8
Guarded ⇄ Compare with AFAQ TRADE
Alpari
Comoros · TP 2.5
Guarded ⇄ Compare with AFAQ TRADE
VOYAFX
Comoros · TP 3.1
Elevated ⇄ Compare with AFAQ TRADE
xChief
Comoros · TP 4.5
Guarded ⇄ Compare with AFAQ TRADE
What AFAQ TRADE says about itself as stated by the broker · not independently verified by FXCanary

Regulated & Ready

According to its website, Afaq operates 'under strict regulatory standards to keep your trading secure and reliable.' It also claims to offer a transparent trading environment with no hidden fees.

Trading Accounts

The broker lists four account tiers: Basic (up to $4,999 deposit), Advanced ($5,000-$19,999), Premium ($20,000+), and Sharia ($20,000+). Basic and Advanced accounts incur overnight fees and triple swap on Wednesdays; Sharia accounts have no swap fees.

Platforms & Instruments

Afaq provides mobile web, Android, iOS, and desktop web platforms. It offers trading in currencies, indices, and commodities. The site highlights low spreads, advanced charting, and risk management tools.

Fees & Funding

The broker states it has 'competitive spreads' and no hidden fees. Deposits can be made via credit card. It emphasises fast, secure transactions with SSL encryption.

About AFAQ TRADE

Who is AFAQ Trade?

AFAQ Trade is a retail forex and CFD broker registered in Comoros and founded on 18 August 2025. The broker operates through the website afaq.trade and presents itself as a global multi-asset platform targeting both beginner and experienced traders.

Despite claims of regulatory compliance on its website, FXCanary’s records show no verifiable regulatory licences for AFAQ Trade. The broker is not listed with any major financial regulator. Traders should exercise caution when dealing with unregulated entities.

Account Types and Minimum Deposits

AFAQ Trade offers four account tiers differentiated by deposit size: Basic (up to $4,999), Advanced ($5,000–$19,999), Premium ($20,000 and above), and Sharia ($20,000 and above). The Basic account includes a welcome bonus on first deposit and overnight swap fees charged daily except weekends, with triple swap on Wednesdays. The Sharia account is swap-free, catering to Islamic traders.

Maximum leverage is not specified on the site or in our records. The tiered structure suggests the broker aims to accommodate traders at various capital levels, though the high minimum for Premium and Sharia accounts ($20,000) may deter smaller retail participants.

Trading Platforms and Instruments

The broker provides multiple platforms: a mobile web platform, dedicated Android and iOS apps, and a desktop web platform. These aim to offer real-time synchronisation across devices and fast execution. The website mentions smart charting tools, live market insights, and personalised alerts.

AFAQ Trade lists currencies, indices, and commodities as available instruments. It does not specify the number of currency pairs or individual assets. The focus on forex and CFDs is consistent with a retail FX/CFD broker profile.

Deposits, Withdrawals and Fees

AFAQ Trade states that deposits can be made via credit card, with funds added within minutes. Withdrawals are described as fast and secure. All transactions are encrypted using SSL technology. The broker promotes competitive spreads and no hidden fees, though exact spread figures are not disclosed.

The absence of detailed fee schedules and deposit/withdrawal methods (beyond credit card) limits transparency. Traders should verify available payment options and associated costs before committing funds.

Regulatory Status and Risk Considerations

AFAQ Trade is registered in Comoros but holds no regulatory licences from known authorities. The broker’s website claims to operate under strict regulatory standards, but our cross-check found no matching register entry. This discrepancy raises concerns about the veracity of its claims.

Unregulated brokers offer no investor protection, no recourse to a financial ombudsman, and no guarantee of fund segregation. FXCanary’s Scam Risk Score of 62/100 (Elevated) reflects these risks. Traders should treat any unregulated broker with heightened caution.

Overview compiled by FXCanary from regulatory records and public data. full AFAQ TRADE review