Video Ayrex Review
Ayrex is a brokerage firm registered under a company called Advanced Binary Technologies Limited whose headquarters is in the Caribbean nation of St.Kitts and Nevis. Having come into existence in 2014, Ayrex is probably one of the youngest brokers in the industry. However this is not something that you can easily conclude upon visiting their website; the quality of their services is quite impressive to say the least. An important thing to note about Ayrex is that they have simplified the process that new customers have to go through in order to open an account by allowing the use of social media accounts (Facebook and Google+).
For a new user, the most important links are easily available on the home page. Once you create an account and validate it through your email address, the trading platform appears as shown above. The control panel is located on the right hand side of the screen where the investor can select the asset, the type of option to trade, the amount to place on the trade and the expiry period. Account settings and details on contests can be accessed from a sliding menu that appears on the top right of the page. One-click trading among other platform settings can be changed here.
There is a trading app available on both the Google Play Store and the App Store for customers that have android and apple devices respectively. Both have been downloaded for total of over 500,000 times and we went through the ratings and reviews from users which we found to be very encouraging. In a good number of reviews that we looked at, customers described the apps as very fast and responsive allowing instant execution and being handy enough to let the customer perform all processes that would be done via PC; including withdrawals and deposits.
They are not regulated by any supervisory authority. The Australian Securities & Investment Commission (AISC) has blacklisted Ayrex as one of the unregulated brokers to stay clear of but this has since been resolved.
Account Types and Asset Index
Ayrex have two major types of accounts; demo and real. The demo account is credited with a maximum of 1000USD/EUR (virtual money). This allows beginners to learn how the platform works and gives even experienced traders the chance to try out different trading strategies. Under the category of real accounts two other accounts which are Islamic accounts which are operated according to Sharia Laws and regular real accounts.
The collection of assets available for trading on their platform consist of 15 spot forex pairs, 9 equity indices, 7 spot commodities and 36 publicly traded stocks.
Deposit & Withdrawals
Ayrex offer the payment methods below.
Providing this variety of payment methods is of great importance as it allows lots of customers to deposit and withdraw funds despite regardless of where they are located. As is the norm with regulated brokerages that are compliant with AML policies, customers can only withdraw money to the accounts which they used to deposit funds into the account.
The minimum amount that an investor can deposit and withdraw is 5USD/EUR. One free withdrawal is facilitated for each customer per calendar month. Any subsequent withdrawals will attract a commission based on the amount withdrawn and mode of payment used. In order to withdraw successfully, you will be requested to verify your identity through a number of processes and if successful, the withdrawal might take 3business days for the funds to reach your account. A great advantage that customers enjoy after making their first withdrawal is autowithdrawals which means that they can be done 24/7, pay no commissions and no longer have to wait for long periods of time for their requests to be processed. This is made possible through a two-step authorization process that is completely secure.
This broker offers a variety of bonuses which are optional so the customer has the freedom to accept or reject them at the time of depositing funds.
The withdrawal process is just as easy. You simply click the ‘withdraw’ button on the right side menu and enter the amount you want to withdraw along with the currency of your choice. They have indicated Neteller and Skrill as the fastest payment methods so you’d probably get your cash sooner if you use one of them.
Ayrex have a very supportive team when it comes to addressing any queries and concerns raised by customers. Their live chat platform is perhaps the most convenient as it is available 24/7. I clicked on the green button on the bottom right hand side of the screen to access the live chat menu and a small browser window opened up for me to enter my phone number and message. I found this a bit strange due to the fact that I already submitted my phone number while opening an account so I didn’t understand why they would request for it again.
Apart from that, the responses for the queries I raised were almost instant and equally helpful. If for one reason or another you are not able to access the live chat platform, you can call the customer support helpline on +44 20 3322 7337 at any time of the day/night (EET) between Monday and Friday. Their finance team can also be reached directly between 0900hrs and 1700hrs (EET) from Monday to Friday. You can also email them with your query on [email protected] but ordinarily this would be responded to within one business day.
Ayrex is not a scam. However we say this with a hint of scepticism solely due to the fact that Ayrex is not regulated by any supervisory authority. The closest that they come to being regulated is their strict compliance with the international AML policies. In a market where regulation is the bench mark that is largely used to separate credible brokers from fraudsters, this is something that is very important to note before signing up. Aside, Ayrex have proved their integrity and that they carry out business in a professional manner. There are numerous testimonials to support this premise plus we cannot find any outstanding complaint lodged against them that remain unresolved.
Pros & Cons Ayrex
- Incredible platform which is easy to use, robust and a pleasure to work with
- A great suite of resources across education, trading tools and market reviews
- A very strong customer support team that are efficient and able to process withdrawals almost immediately.
- Not regulated by a strong authority, they were blacklisted by ASIC, but this has now been resolved
Conclusion about Ayrex
Being a relatively new brokerage, I am thoroughly impressed by the quality of service that they have to offer. Their platform is very intuitive and not to mention very easy on the eye going by the industry standards. Our experience with them has been nothing short of pleasant apart from the one unnerving fact that they are not regulated by any national or international authority. The fact they they offer education for their investors along with a risk notice and terms & conditions goes a long way to show that they value the rights of the investor and do not wish to infringe on them through omission or otherwise. For these reasons, we recommend Ayrex as a credible broker.