AccentForex Review and Tutorial 2020
United States not accepted.
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|AccentForex Facts & Figures|
AccentForex offers live trading and PAMM accounts on the MT4 platform.
|Bonus||40% deposit bonus up to $4,000|
|Instruments||Forex, CFDs, indices, commodities, futures|
|Min. Trade||0.01 lots|
|Trade leveraged CFDs across markets.|
Trade currency pairs with flexible leverage.
AccentForex offers forex and CFD trading on fixed and variable spread accounts, plus PAMM systems. This review details fees, leverage, demo contests, minimum deposits and more. Find out if the company is a scam, or if you should sign up and login to AccentForex today.
Registered since 2010, Accent Markets Group Inc. is licensed by the Vanuatu Financial Services Commission (VFSC). The company offers forex, CFD shares, futures, and precious metals on the MetaTrader 4 trading platform. AccentForex caters to all clients but seeks to differentiate itself through its PAMM accounts and loyalty bonuses for VIP clients.
MetaTrader 4 Trading Platform
AccentForex offers the MT4 trading platform to all clients. The platform is packed with technical and fundamental analysis tools, as well as automated trading functions. Traders get real-time access to market liquidity, multiple order types, and comprehensive trade history. Its compatibility with both Windows and macOS computers makes MT4 a great all-round option for novices and professionals.
AccentForex provides over 140 financial instruments, consisting of 60 currency pairs, a number of CFD shares, 13 futures, plus spot gold and silver. Whilst a reasonable breadth of products, this review would have liked to have seen cryptocurrency trading too.
Spreads & Commission
The broker offers narrow spreads from 0.1 points in the STP account for major pairs such as EUR/GBP, with forex commissions starting from $5 per lot. For beginners, the Micro account offers 20 currency pairs and spreads from 2 pips for EUR/USD. With the combination of spreads and commissions, AccentForex comes in around the industry norm for trading costs.
The broker also charges swap fees on positions that are carried over into the next day. These are detailed on the website.
Leverage ranges from 1:1 to 1:500 and depends on the account type you choose. This means high leverage rates are available to those who want to take large positions with less capital. You can find margin requirements detailed in the account pages.
For mobile traders, the MT4 iOS and Android app offers fast and reliable access to the markets from anywhere. Traders can execute orders and carry out fundamental analysis with the suite of indicators and drawing tools available. There’s also easy access to live prices in Market Watch, plus handy mobile preferences, including notifications and alerts.
Funding in USD or EUR is available via bank transfer, Visa/MasterCard, Skrill, Neteller, or Bitcoin, though these may differ depending on the country you’re trading from. Payments are processed within 5 minutes for deposits and within 24 hours for withdrawals. Wire transfers can take up to 5 days. The minimum deposit at AccentForex is $50.
Fees apply for both deposits and withdrawals, except for Bitcoin which is free. Card deposits above 1,000 EUR or USD are compensated, as per the broker’s loyalty program.
Demo Account Review
Beginners have the opportunity to sign up for a demo account with a free $10,000 in virtual funds. The demo account allows users to execute simulated trades and gain valuable skills in the trading platform before signing up for a real account. Demo accounts at AccentForex will not expire, as long as there is activity on the account every 14-days.
Bonuses & Promos
AccentForex offers several bonus deals, including a 40% bonus on each deposit over 100 EUR or USD up to $4,000, and a 35% cash bonus on accounts credited with at least 300 EUR or USD. There’s also a Master Scalper contest for demo accounts, with $1,000 awarded to the winner. In addition, loyal and active clients can receive 8% per annum in interest if they trade at least 5 orders per month.
Overall, this review was impressed with the range of bonus deals and demo contests available.
Accent Markets Group Inc. is registered and regulated by the Vanuatu Financial Services Commission (VFSC), with license number 17926. The broker holds client money in segregated accounts, as well as providing negative balance protection.
Traders should be aware that regulatory oversight from the VFSC is not as stringent as the protection afforded by reputable bodies such as the FCA or CySEC.
The educational content at AccentForex is rather limited, with just a couple of pages dedicated to forex basics for beginners, some brief technical analysis and news, and a basic economic calendar. Traders will find a larger selection of resources elsewhere. This is one area of our review where we’d particularly like to see AccentForex make improvements.
There are four main account types available at AccentForex, plus Islamic swap-free accounts and PAMM accounts for investors. The Micro account is designed for beginners transitioning from a demo account, with access to 20 currency pairs and CFDs. The STP account is likely to attract active traders, with tighter spreads and no requotes, at a reasonable $100 minimum deposit.
- Micro – Minimum deposit $50, fixed spreads from 2 pips, leverage up to 1:500
- Mini – Minimum deposit $100, variable spreads from 0.5 points, leverage up to 1:200
- PROfit – Minimum deposit $1,000, variable spreads from 0.5 points, leverage up to 1:100
- STP – Minimum deposit $100, variable spreads from 0.1 points, leverage up to 1:200
PAMM accounts let you copy the positions and signals of other successful traders. AccentForex also provides PAMM ratings so you can see which traders are performing particularly well. See the broker’s Investments tab for further details.
This review was impressed with the broker’s:
- Bonuses and demo contests
- $50 minimum deposit
- PAMM accounts
To achieve a higher rating, AccentForex could work on the following areas:
- Offshore regulation
- No cryptocurrency trading
- Limited educational content
- UK and US clients not accepted
Currency pairs are available to trade from 00:00 Monday to 23:00 Friday (UTC+2). Specific times for other markets vary and can be found within the MT4 trading platform. Note that there may also be a break in trading for certain instruments.
AccentForex’s customer support team is available via live chat 24 hours a day 5 days a week, or via email, at firstname.lastname@example.org. The broker doesn’t have a telephone support line, however, which may disappoint some. The support team were fairly responsive and helpful upon testing.
The MetaTrader 4 platform is highly secure, with encrypted data exchange and authentication options at the login stage. The broker could be more transparent around transaction security through its website, however.
AccentForex offers generous leverage on four accounts, plus bonuses and demo contests. Minimum deposits start at just $50, though trading and funding fees apply. The PAMM account may be attractive for investors, but the lack of education and the general presentation of the website could be improved.
AccentForex accepts traders from Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use AccentForex from United States, United Kingdom.
Is AccentForex a scam?
AccentForex is registered and licensed in Vanuatu and does not appear to be a scam. Traders should, however, always exercise caution when considering offshore brokers.
How do I open a live account with AccentForex?
New users will need to fill in a short registration form and set up their login details for the client Cabinet. Traders will then need to verify their identity by submitting documents to the broker.
What assets are available at AccentForex?
Traders can access over 140 instruments in forex, futures, CFDs, and precious metals. Cryptocurrency and Bitcoin trading is not available.
How much capital do I need to trade at AccentForex?
You can trade with as little as a $50 minimum deposit in the Micro account. The minimum deposit with the Mini account is $100 and with the PROfit account, it’s $1,000.
Where is AccentForex based?
AccentForex is based at T19, 1st Floor, Tana Russey Plaza, Kumul Highway, Port Vila, Vanuatu.
|AccentForex offers live trading and PAMM accounts on the MT4 platform.|