AccentForex Review 2020
AccentForex is an offshore forex trading broker with around 64 FX currency pairs available to trade online via the MetaTrader 4 platform. The brokers trading conditions are competitive whilst they have a good range of accounts types and funding methods. Despite this, we found their regulation and educational materials to be lacking compared to many other brokers.
AccentForex Review 2020, Pros & Cons
- MT4 platform for web, desktop & mobile devices
- PAMM accounts
- Various account types for different trader needs
- Flexible payment options
- Offshore regulation
- No USA or UK clients allowed
- Limited non-FX assets for trading
- Lack of educational materials for beginners
- Lack of additional trading tools
In this detailed AccentForex review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
AccentForex is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including AccentForex.
AccentForex Review: Summary
Founded in 2010, AccentForex is an online forex trading broker offering STP/NDD execution via the MetaTrader platforms. The company states that they were created with professional traders in mind and to satisfy the requirements of different clients. Some of the brokers key features include:
- Minimum deposits from $0
- 0.1 minimum lot size
- Spreads from 0.1 pips
- Leverage from 1:1 to 1:500
- Instant execution with minimal delay
- No dealing desk (NDD) thus no dealer intervention
- Intuitive MT4 platform
- Around 64 FX currency pairs
- 140+ financial instruments available
- Scalping, hedging & HFT allowed
- Simple account registration process
- 24/5 customer support
AccentForex Review: Regulation
AccentForex is a forex broker located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC). The VFSC regulator controls the activities of market participants and ensures compliance with international standards, in particular, the provision of brokerage services by licensed companies. The regulator helps to ensure transparency of work and confirms that only companies who meet certain standards can obtain the right to obtain a license for financial activities in the registrar’s jurisdiction. VFSC strictly follows the international legal regulation and adhere to all anti-money laundering laws.
This regulation is not considered by many experts to be the same as regulation from other authorities such as the FCA, CySEC and ASIC. We would proceed with great caution when using an offshore regulated broker and would prefer to trade online with one of our best online brokers who are regulated in another jurisdiction.
AccentForex Review: Countries
AccentForex do not offer brokerage services to residents of some jurisdictions, such as United States of America and the United Kingdom. Some AccentForex broker features and products mentioned within this AccentForex review may not be available to traders from specific countries due to legal restrictions.
AccentForex Review: Trading Platforms
MetaTrader 4 (MT4)
AccentForex provide the user friendly MT4 platform which is used by millions of traders around the globe. MT4 is well known for its intuitive interface making it a popular platform for beginner and experience traders alike. MT4 has a large range of built in tools for conducting thorough market analysis. It also supports automated trading via expert advisors (EAs). The platform is available for desktop, web and mobile devices (iOS & Android).
The MT4 platform features include:
- Real time bid/ask price quotes via the market watch window
- Fully customisable intuitive interface
- Technical indicators & drawing tools for analysing charts in detail
- Multiple timeframes, chart types & order types
- Automated trading with strategy tester to back test EAs
- Price alert notification via SMS, email and platform pop-ups
- Large online community to share tools & ideas with
- Runs on desktop, web & mobile
AccentForex Review: Trading Tools
This broker does not have any additional trading tools other than a basic economic calendar showing news releases. You will need to make do with the MT4 platform tools which are usually more than enough for the average retail trader. If you not specific standalone tools then you may want to consider another forex broker.
This section provides a timetable for the release of macroeconomic indicators for the week. The calendar contains predictions with a marker of importance, previous and actual data, as well as a schedule of holidays and weekends. Accounting and comparison of macroeconomic data in order to identify their possible impact on the market is a prerequisite in the construction of a trading strategy.
AccentForex Review: Education
There is a very small amount of educational content scattered throughout the brokers website. We would have preferred a well organised traders academy with trading guides and video tutorials. We believe it is of the upmost importance that beginner traders have as much educational materials as possible to help them understand how to trade online and manage risks.
In this section you can find current news from all financial sites of the world from reputable news agencies. Unfortunately, the broker is not frequently updating this section.
This section provides an overview of technical analysis for the most popular Forex and CFD trading tools. Publications contain a graphical and indicative analysis of price charts with a description for helping with making trading decisions. Again, this section is not frequently updated.
This section of the AccentForex website contains a list of commonly used forex trading terminologies along with explanations of each.
AccentForex Review: Trading Instruments
AccentForex broker allows you to trade around 64 forex currency pairs, as well as stocks, metals and CFDs within one trading account. There are around 140 trading instruments in total. It must be said that the non-FX instruments are limited compared to other brokers who have thousands of tradeable assets on their platforms.
AccentForex Review: Trading Accounts & Fees
AccentForex minimum account deposit starts from just $50, leverage of up to 1:500 is available and spreads start from 0.1 pips. You can choose between variable or fixed spreads. The following account types are available:
This type of account is designed for beginners who have decided to try forex trading but do not have significant financial resources yet. The micro trading account will allow you to work out your own trading strategies, as well as get used to trading forex using real trading accounts. The basic trading conditions to start trading on the forex market are available to traders that open a micro account.
- Fixed spreads from 2 pips
- The minimum deposit is $50
- Maximum balance to $1,000
- Minimum lot is 0.01
- Maximum lot is 5
- Adjustable leverage from 1:1 up to 1: 500
- 20 FX currency pairs and CFDs
The mini account is a solution for the majority of traders who already have some experience trading the forex market. One of the main advantages for opening a mini trading account is the possibility of unlimited usage of the AccentForex trading tools.
- Dynamic spreads from 0.5 pips
- Minimum 0.1 lot in volume traded
- Leverage to 1:200
- Minimum deposit from $100
- Maximum balance up to $10,000
Among the most significant benefits of an STP trading account can be minimal requotes and tight spreads from 0.1 pips. This makes the STP account a popular choice for AccentForex clients.
- Dynamic spreads from 0.1 pips
- Commission from $5
- Minimum deposit from $100
- Maximum balance up to $10,000
- Minimum 0.1 lot in volume traded
- Leverage from 1:1 to 1:200
- 60 FX currency pairs and CFDs
This trading account is designed for professional traders. This account comes with the widest range of trading tools, flexible conditions and dedicated client support.
- Spreads from 0.5 pips
- Minimum 1 lot in volume traded
- Leverage to 1:100
- Minimum deposit from $1,000
Demo accounts can be created for beginners or traders who wish to try out the different trading platforms and practice their trading strategies with $10,000 in virtual funds. This is a great opportunity to get valuable knowledge and skills.
Swap Free Accounts
AccentForex also have Swap-Free Accounts that allow people who have certain beliefs, to trade forex without violating religious rules. Swap-Free mode is available on all types of accounts, from a MICRO trading account, up to the STP trading account. You just need to send a request to transfer your open account into a Swap-Free account.
AccentForex offer PAMM (percent allocation management module) accounts for money managers and investors. Professional traders can offer a PAMM account for other traders to invest in without needing to trade themselves. Each PAMM account is assigned a rating and has full statistical data for potential investors to review. It should be strongly noted that past PAMM performance is by no means any guarantee of future performance and trading always carries a significant element of risk.
AccentForex Review: Customer Service
The broker caters to each client’s individual needs with customer support on hand to answer any questions that you may have related to their trading services. Customer support is available 24/5 via email, telephone and online chat.
AccentForex Review: Deposit & Withdrawal
AccentForex have a selection of convenient methods for depositing and withdrawing funds from your trading account. This includes Wire Transfer, Credit/Debit Cards, Neteller, Skrill, Perfect Money, Qiwi and Bitcoin. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.
Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. AccentForex strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your AccentForex trading account.
Accounts can be opened in EUR, USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
As broker fees can vary and change, there may be additional fees that are not listed in this AccentForex review. It is imperative to ensure that you check and understand all of the latest information before you open an AccentForex broker account for online trading.
AccentForex Review: Account Opening
If you would like to trade online with AccetForex, there is a short online application form to complete that can be accessed by clicking the “open account” link on the brokers official website.
AccentForex strictly complies with laws and regulations to combat money laundering and terrorist financing. Clients must therefore verify their account using the following methods:
- Proof of identity. Typically, this is a passport, ID, driver’s license or any other document that has a photo, name and surname of the client.
- A document confirming the place of residence. This may be a utility bill / bank statement, etc. Prerequisite is the presence in the document name, surname and address of residence. It must be issued no later than 3 months ago.
Once your account has been verified, you will be able to fund it and commence trading online using the provided trading platforms.
AccentForex Review: Conclusion
AccentForex is primarily a forex trading broker with a few additional asset classes offered although limited when compared to other more established online brokers. They have offshore regulation which would be a red flag for some potential clients. They do have a variety of account types and funding options but educational materials and additional trading tools are limited. There are PAMM accounts and clients do get 24/5 support. Overall, we believe that this broker could improve in a few areas especially regulation. For this reason, we would consider an alternative option from our best forex brokers list.
Foreign exchange trading carries a high degree of risk. In particular, because of the low margins required for currency trading, changes in foreign exchange market can lead to considerable losses. The customer may lose all initial funds and any additional funds deposited to enhance or control the position in the market. Therefore, currency trading is suitable only for people who understand and allow the economical, legal and other risks associated with such dealings, and is able to withstand financial losses.