Considering AccentForex for your trading needs? This comprehensive review covers everything from regulations and trading platforms to available instruments, highlighting the pros and cons of this brokerage.
Overview of AccentForex
Established in 2010, Accent Markets Group Inc. is a registered and licensed brokerage under the Vanuatu Financial Services Commission (VFSC). The company offers a range of trading options, including forex, CFD shares, futures, and precious metals. AccentForex sets itself apart with its PAMM accounts and attractive loyalty bonuses for VIP clients.
Trading Platform: MetaTrader 4
AccentForex provides the widely acclaimed MetaTrader 4 (MT4) platform to all clients. MT4 is equipped with a comprehensive suite of technical and fundamental analysis tools, along with automated trading capabilities. Traders gain real-time access to market liquidity, various order types, and a detailed trade history. Compatibility with both Windows and macOS systems makes MT4 a versatile choice suitable for both beginners and professionals.
AccentForex offers a diverse selection of over 140 financial instruments. This includes 60 currency pairs, a range of CFD shares, 13 futures, as well as spot gold and silver. While this provides a reasonably broad product offering, the absence of cryptocurrency trading might disappoint some potential traders.
Spreads and Commissions
The broker offers competitive spreads starting from 0.1 points in the STP account for major pairs like EUR/GBP, with forex commissions commencing at $5 per lot. For newcomers, the Micro account provides access to 20 currency pairs with spreads from 2 pips for EUR/USD. Overall, AccentForex's trading costs are in line with industry standards.
Additionally, the broker imposes swap fees on positions held overnight, with detailed information available on their website.
Leverage at AccentForex ranges from 1:1 to 1:500, depending on the chosen account type. This flexibility allows traders to take larger positions with less capital, with margin requirements specified in the account pages.
For traders on the go, AccentForex offers the MT4 iOS and Android app. This mobile platform provides fast and reliable access to the markets, enabling order execution, fundamental analysis, and access to live prices. Mobile preferences, including notifications and alerts, are also available.
AccentForex facilitates funding in both USD and EUR through bank transfers, Visa/MasterCard, Skrill, Neteller, or Bitcoin, although availability may vary by region. Deposits are typically processed within 5 minutes, while withdrawals are handled within 24 hours, except for wire transfers, which may take up to 5 days. Notably, Bitcoin deposits are free of charge, while fees apply to other deposit and withdrawal methods. The broker's loyalty program compensates card deposits exceeding 1,000 EUR or USD.
New traders have the opportunity to open a demo account with a complimentary $10,000 in virtual funds. These accounts remain active as long as there is activity every 14 days, providing users with a risk-free environment to practice trading strategies and become familiar with the platform.
Bonuses and Promotions
AccentForex offers various bonus incentives, including a 40% bonus on deposits over 100 EUR or USD (up to $4,000), a 35% cash bonus for accounts credited with at least 300 EUR or USD, and a Master Scalper contest for demo accounts, where winners receive $1,000. Additionally, loyal clients who execute a minimum of 5 orders per month can earn 8% per annum in interest. This diverse range of bonuses and contests was particularly impressive to our review team.
Regulations and Security
Accent Markets Group Inc. is regulated by the Vanuatu Financial Services Commission (VFSC) under license number 17926. Client funds are held in segregated accounts, and negative balance protection is provided. However, it's worth noting that the regulatory oversight from the VFSC is not as stringent as that offered by more reputable bodies such as the FCA or CySEC.
AccentForex's educational content is limited, featuring only basic forex tutorials for beginners, brief technical analysis and news, and a basic economic calendar. Traders seeking comprehensive educational resources may find better options elsewhere.
AccentForex offers four main account types, as well as Islamic swap-free accounts and PAMM accounts for investors. The Micro account is tailored for beginners, with a minimum deposit of $50, fixed spreads starting from 2 pips, and leverage up to 1:500. The STP account, requiring a minimum deposit of $100, targets active traders with tighter spreads and no requotes.
Currency pairs are available for trading from 00:00 on Monday to 23:00 on Friday (UTC+2). Specific trading hours for other instruments can be found within the MT4 platform, with potential breaks in trading for certain assets.
AccentForex's customer support team is accessible 24/5 through live chat or email at email@example.com. However, there is no telephone support option. Our experience with the support team found them to be fairly responsive and helpful.
AccentForex presents a competitive offering with generous leverage options, a low minimum deposit of $50, attractive bonuses, and engaging demo contests. However, there are areas for improvement, including the offshore regulation, the absence of cryptocurrency trading, limited educational content, and the non-acceptance of UK and US clients.
- Generous bonuses and demo contests
- Low minimum deposit of $50
- PAMM accounts for investors
- Offshore regulation
- No cryptocurrency trading
- Limited educational resources
- Not accepting UK and US clients
Before choosing AccentForex, carefully evaluate your trading needs and preferences in light of this review to determine if it aligns with your goals.
AccentForex Broker Details
Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.