AquilaFx review 2023: 5 things you should know about aquilafx.com

Beware! AquilaFx is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

To all investors who consider investing with AquilaFx – beware! This firm is a total scam disguised as a broker and any deposited sum here will be gone for good. AquilaFx is an unregulated firm who offers financial services against the law. On top of that the official Italian regulator has blacklisted this broker as “abusive” and “deceptive”. So whatever you do, keep away from this shady firm. The only things you’ll face is a mediocre platform and risky trading conditions anyway. Still, if you are curious to know more about AquilaFx and what to look out for, just keep reading the following lines.

AquilaFx Regulation and safety of funds

AquilaFx claims to be headquartered in Liechtenstein and it also mentions to be “Swiss regulated”, but no further data is presented. Now, we searched both of these countries’ regulators – the Financial Market Authority (FMA) of Liechtenstein and the Swiss Financial Market Supervisory Authority (FINMA), however there was no data about AquilaFx at all. This broker is certainly not authorized nor supervised by any of them.

What’s more, it turned out that another financial regulator had spotted the fraud right away. The Italian local watchdog – CONSOB, has set a warning against AquilaFx, stating that this is a potential scam that has to be avoided by all means. The authority also described this website as “abusive” and illegal. See for yourself:

Keep your eyes open for such deceitful firms and don’t invest with them no matter what! As you see, a quick research on your new broker can save you tons of regrets and troubles.

AquilaFx Trading software

AquilaFx claims to offer the industry standard MetaTrader 4. Unfortunately the download link on its homepage doesn’t work at all and that was the first alarming sign.

After we registered a simple web-based platform was presented to us, that had nothing to do with MT4. See for yourself:

As you see, this is a basic WebTrader, developed by TradingView. It’s not that bad, but it’s not brilliant either. It certainly can’t compare with MetaTrader, which is a top-notch trading software for sure.

Either way, we don’t think that investing with AquilaFx is a good idea. Don’t forget that this broker has been exposed as a total sham.

AquilaFx Trading instruments

AquilaFx claims to offer a variety of trading instruments including 48 currency pairs, major indexes, some commodities, gold, silver, cryptocurrencies and CFDs. And even though this list may seem impressive, don’t fall for it. Remember that this broker is absolutely unreliable and unlawful. Not to mention that most reputabe brokers tend to offer a variety of assets alongside a safe trading experience.

AquilaFx Spreads and cost of trading

This broker claims to offer fixed spreads from 2.3 to 3 pips for currency pairs, as well as variable spreads starting from 0.5 pips. You can see the whole chart down below:

As you see, the fixed spreads are definitely not advantageous. In fact such amounts are proven to be quite costly, so better don’t waste your time with such trading conditions. On the other hand the variable spreads may seem attractive, however we still don’t know if there are any commissions ahead. And given the fact how shady this broker is, we definitely don’t recommend investing here.

AquilaFx Maximum leverage

AquilaFx aims to offer three account types – Basic, Advanced and PRO. Take a look at some more data about them:

As you see, the maximum leverage happens ro be 1:400 for the PRO account, however this amount is quite risky and speculative. The rest of the accounts provide no better options – in fact all of the volumes are not recommended for retail traders. Still, if you want to give it a try and trade with higher leverage, this broker would be a horrible choice. Instead look for some of the offshore subsidiaries of reputable forex brokers.

AquilaFx Deposit and withdrawal methods

On its website AquilaFx claims to accept credit/debit cards and gives examples with three options – Payeer, Binance and Bitnovo. These however are no credit card payments or whatsoever. In fact Payeer, Binance and Bitnovo are popular cryptocurrency exchange platforms. Now you see why this broker is considered a scam – it tries to manipulate and mislead its customers all the time! And if you wonder what’s all the fuss about, just note that crypto transactions are completely irreversible and anonymous at the same time. This means that you won’t be able to get your money back no matter what.

In addition, the deposit time is said to be instant, while withdrawals may take within 24 business hours.

AquilaFx Minimum deposit

The minimum deposit with this broker is 250 USD. This is a standard amount to be honest as most reputable brokers tend to ask for the same sum. Still, there are a lot of genuine firms who offer micro accounts for as little as 10 USD. We remind you once again that AquilaFx has been blacklisted by CONSOB so better don’t risk your hard-earned cash no matter what it offers.

AquilaFx Withdrawal requirements

Sadly, there is no Withdrawal Policy anywhere across this website. And if we add this broker’s total ignorance towards the topic, we can definitely conclude that there is no decent data about its withdrawal requirements. Beware however that there might be some fees and taxes upon every withdrawal request which may exceed 15 or even 20%. On top of that, scammers very often set high minimum withdrawal amounts and huge trading volumes.

All in all, investing here is a horrible idea, so better to stay safe and avoid this bogus website!