Accuindex ReviewCategory: Reviews | Author: Trading Brokers | Date: September 16, 2023
Accuindex is an online broker that offers forex and CFD trading services to clients across the globe. It claims to provide a range of trading platforms, tools, education, markets, and account types for traders of different levels and preferences. However, choosing a broker is not an easy decision, and there are many factors to consider before entrusting your money to them. Some brokers may have hidden fees, poor customer service, or limited accessibility. Therefore, it is important to conduct a thorough and unbiased review of any broker before deciding to trade with them. In this article, we will review Accuindex and provide our verdict on whether it is a reliable and trustworthy broker to trade with.
Pros & Cons
- Regulated by the CySEC and the FSC, which are reputable and independent authorities that oversee the financial services industry in Cyprus and Mauritius
- Offers a variety of trading platforms, tools, education, markets, and account types for traders of different levels and preferences
- Provides negative balance protection and segregated accounts to safeguard your funds from market volatility and broker insolvency
- Offers ultra-low spreads and no commissions for most of its instruments
- Lacks transparency and information on the website about the trading conditions, fees, and policies for each entity
- Does not offer cryptocurrencies and futures CFDs
- Does not offer swap-free option or negative balance protection for the Raw Account
Accuindex is an online broker that was established in 2016 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles. The broker offers a secure and diverse platform for traders of all levels. The broker’s commitment to safeguarding funds through segregated accounts and negative balance protection ensures a convenient trading experience. With a range of payment methods, fast withdrawal processing, and a strong emphasis on education, traders can enhance their knowledge and skills. The cloud-based infrastructure has reliable systems, while the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms provide stability and swift execution.
Accuindex also stands out for offering ultra-low spreads and no commissions across a variety of trading instruments, including forex, stocks, indices, energies, and precious metals. Additionally, the broker provides access to exclusive tools such as economic and earnings calendars, webinars, daily market news, educational resources, and VPS service. Our assessment highlights Accuindex’s ambition to be a trusted broker for regulated trading, but as always, understanding the associated risks is crucial.
Accuindex is an online broker that operates under three entities: Accuindex Limited, Accuindex EU Limited, and Accuindex Global Limited. Accuindex Limited is regulated by the Financial Services Commission (FSC) of Mauritius, with the license number GB190247781. Accuindex EU Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC), with license number 340/172. Accuindex Global Limited is incorporated in St. Vincent and the Grenadines, with the registration number 26056 BC 20202, but it is not regulated by any authority.
The FSC and CySEC are reputable regulators that enforce high standards of conduct and compliance for financial service providers. They require brokers to adhere to strict rules regarding capital adequacy, client fund segregation, risk management, anti-money laundering, and investor protection. They also have the power to impose fines, sanctions, or revoke licenses in case of violations. Trading with an FSC- or CySEC-regulated broker ensures a secure and transparent trading environment for clients.
However, the unregulated entity of Accuindex poses some risks and uncertainties for traders. St. Vincent and the Grenadines is an offshore jurisdiction that does not have a specific regulatory framework for forex and CFD brokers. Therefore, Accuindex Global Limited is not subject to any oversight or supervision by any authority. This means that clients who trade with this entity may not have access to any compensation scheme or dispute resolution mechanism in case of disputes or insolvency. They may also face higher fees, commissions, or spreads than those offered by the regulated entities.
Therefore, potential traders are advised to proceed with caution and awareness when choosing an entity of Accuindex to trade with. They should carefully read and understand the terms and conditions of each entity and assess the benefits and drawbacks of each option. They should also recognize the interplay of regulations, responsibilities, and possible ramifications in their trading journey. Please see a list of regulated brokers for some alternative options
Platforms & Tools
Accuindex offers its clients the widely acclaimed MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, developed by the esteemed MetaQuotes Software Corp., a powerhouse in the financial software industry. These platforms offer not only a user-friendly interface but also an array of advanced charting features, technical analysis tools, and automated trading capabilities.
The MT4 platform caters to traders across all experience levels and preferences. It serves as a versatile tool for trading in forex, commodities, indices, and stocks CFDs. What sets it apart is its allowance for traders to devise and employ custom indicators, scripts, and expert advisors (EAs) for automated trading strategies. The MT4 platform can be accessed via desktop, web browser, or mobile devices, serving as the trading avenue for Accuindex’s Standard and PRO accounts.
Advancing to the MT5 platform, an enriched iteration of MT4, it extends a broader scope of features and functionalities. Facilitating trading in forex, commodities, indices, futures, stocks, and cryptocurrencies CFDs, MT5 grants traders access to an expanded range of order types, timeframes, indicators, and graphical objects. Notably, the platform is equipped with a built-in economic calendar, market-depth insights, and a strategy tester. Available for download across desktop, web browsers, and mobile devices, MT5 exclusively supports Accuindex’s Zero Spread accounts.
Beyond these platforms, Accuindex augments the trading experience with a suite of valuable tools and resources, including:
- Economic & Earnings Calendars: These calendars displayed on the Accuindex website outline upcoming economic events and corporate earnings that might impact trading. The calendars’ filtering options by date, country, currency, impact, and category empower traders to fine-tune their insights.
- Webinars: Accuindex provides access to live and recorded webinars hosted by experienced traders and analysts. These webinars cover various topics related to trading strategies, market analysis, risk management, and more.
- Daily Market News: To foster informed decision-making, Accuindex offers the latest market news and analyses from esteemed sources like Reuters and Trading Central. This wealth of information aids traders in comprehending market movements and the factors influencing their trades. Educational
- Resources: Accuindex introduces a range of educational materials on its website, catering to diverse learning needs. Among these are articles, videos, e-books, tutorials, glossaries, FAQs, and more. These resources enable traders to enhance their knowledge and skills in various aspects of trading.
- Accuindex VPS: Accuindex offers a virtual private server (VPS) service for its clients who use EAs or automated trading systems. The VPS service allows traders to run their EAs 24/7 without interruptions or delays. The VPS service is free if the client meets certain conditions.
Accuindex’s commitment to empowering traders extends to its comprehensive education segment, an invaluable resource aimed at nurturing clients’ trading acumen and confidence. This educational enclave encompasses an array of topics crucial to forex and CFD trading, including:
- Basic Forex Education: This section covers the basics of forex trading, such as why to trade forex, when to trade forex, trading terminology, leverage, margin, pip value, order types, technical analysis, fundamental analysis, chart types, support and resistance, trendlines, and more.
- Understanding Candlesticks: This section explains the concept and significance of candlestick patterns in forex trading, such as doji, marubozu, hammer, hanging man, shooting star, inverted hammer, bullish piercing, dark cloud cover, bullish and bearish engulfing, tweezer tops and bottoms, morning and evening star, and more.
- Forex Indicators: This section introduces various technical indicators that can help traders identify trading opportunities and market trends, such as RSI, stochastic oscillator, ATR, moving average, MACD, ADX, Bollinger bands, parabolic SAR, Ichimoku Kinko Hyo, pivot points, and more.
- Fibonacci: This section explores the Fibonacci sequence and its application in forex trading, such as Fibonacci retracements, extensions, fans, and arcs, and how to combine them with other technical analysis tools.
- Chart Formation Patterns: This section reveals the common chart patterns that can signal potential price movements and reversals in forex trading, such as double top and bottom, head and shoulders, inverse head and shoulders, triangles (ascending, descending, symmetrical), wedges (rising and falling), flags and pennants (bullish and bearish), and more.
- Advanced Trading Tools And Techniques: This section provides advanced tips and tricks for enhancing trading performance and efficiency, such as how to use multiple time frames analysis, how to use trend lines effectively, how to use Fibonacci clusters for confluence zones, how to use divergence for trend reversal confirmation or continuation signals, and more.
Accuindex’s education segment also offers access to live and recorded webinars hosted by experienced traders and analysts. These webinars cover various topics related to trading strategies, market analysis, risk management, platform tutorials, product updates, and Q&A sessions.
Accuindex offers an extensive selection of trading instruments across various financial markets, including forex, stocks, indices, energies, and precious metals. In the forex market, Accuindex provides access to over 60 currency pairs, encompassing major, minor, and exotic options. With ultra-low spreads and no commissions, traders can engage in pairs like USD/CAD, EUR/GBP, AUD/NZD, USD/SGD, and EUR/TRY, capitalizing on the world’s largest and most liquid trading arena.
The stock market widens the horizon with over 400 stocks CFDs, enabling traders to invest in shares of influential companies from various sectors and industries. From tech giants like Microsoft, IBM, Oracle, and Intel, to other notable names like Starbucks, Nike, Disney, and Boeing, Accuindex caters to diverse trading preferences.
For those interested in the indices market, Accuindex offers more than 20 indices CFDs, allowing traders to track the performance of stock groups representing specific sectors or countries. From global indices like NAS100, FRA40, and HK50 to regional offerings such as ESP35, SWE30, and MEXComp, Accuindex empowers traders with flexibility and diversity.
In the energies market, Accuindex offers more than 10 energies CFDs, spanning oil and gas products such as US Crude Oil (WTI), UK Brent Oil (Brent), Natural Gas (NGAS), Heating Oil (HOIL), and Gasoline (GAS). These instruments enable traders to seize trading prospects while navigating asset price fluctuations without direct ownership.
In the precious metals market, Accuindex offers more than 10 precious metals CFDs, including gold and silver as well as platinum and palladium. These instruments allow traders to diversify their portfolios and hedge against inflation or market volatility.
Accuindex offers its clients a choice of three account types, Standard, PRO, and Raw. Each account type is accompanied by unique features and conditions, allowing traders to align their trading strategy with their individual needs. Here’s a concise overview of each account type:
- Standard Account: Designed for traders who seek a simple and transparent trading experience, this account type offers variable spreads from 1.4 pips and no commissions. With a minimum deposit of $100 and a maximum leverage of 1:400, traders can access over 300 trading instruments, including forex, stocks, indices, energies, and precious metals CFDs. The account supports the MT4 and MT5 platforms and allows hedging, scalping, and automated trading. The account also offers a swap-free option for up to 10 days and negative balance protection.
- PRO Account: Tailored for traders who prefer lower spreads and higher leverage, this account type offers variable spreads from 0.8 pips and no commissions. With a minimum deposit of $1,000 and a maximum leverage of 1:400, traders can access over 300 trading instruments, including forex, stocks, indices, energies, and precious metals CFDs. The account supports the MT4 and MT5 platforms and allows hedging, scalping, and automated trading. The account also offers a swap-free option for up to 10 days and negative balance protection.
- Raw Account: Designed for traders who seek an ECN trading environment with ultra-low spreads and minimal commissions, this account type offers variable spreads as low as 0 pips and commissions of $2.5 per lot per side. With a minimum deposit of $3,000 and a maximum leverage of 1:400, traders can access over 300 trading instruments, including forex, stocks, indices, energies, and precious metals CFDs. The account supports the MT4 and MT5 platforms and allows hedging and scalping. The account does not offer swap-free option or negative balance protection.
By providing these account types, Accuindex delivers a versatile and encompassing trading platform that aligns with its commitment to offering a secure and transparent trading environment for clients.
Accuindex offers a diverse range of payment methods for funding trading accounts and withdrawing profits:
- Credit/Debit Cards: Visa and Mastercard enable deposits and withdrawals. Minimum deposit and withdrawal amounts are $100, with no maximum limit per transaction. Deposit fees are absent, though withdrawal fees may apply based on your bank or card issuer.
- E-Wallets: Neteller and Skrill support both deposits and withdrawals. The minimum deposit and withdrawal amounts are $100, with no maximum limit per transaction. Deposits and withdrawals via e-wallets are free of charges.
- Bank Transfer: Bank wire transfer is an option for deposits and withdrawals. The minimum deposit and withdrawal amounts are $100, with no maximum limit per transaction. No fees are associated with bank transfers, but intermediary banks may charge additional fees.
To initiate transactions, log in to your Accuindex account and visit the “Deposit/Withdrawal” section. Here, select your preferred payment method and follow the on-screen instructions. Processing times may vary depending on the method and bank involved. It is important to note that certain account types have higher minimum deposit amounts. For instance, the Standard Account requires a minimum deposit of $100, while the ECN Account requires a minimum deposit of $3,000. Hence, before making a deposit, consider both the chosen payment method and the account type to ensure alignment.
In summary, Accuindex is an online broker that offers forex and CFD trading services to clients across the globe. It is regulated by the CySEC and the FSC and provides a range of trading platforms, tools, education, markets, and account types for traders of different levels and preferences. However, it also has some drawbacks, such as the unregulated entity in St. Vincent and the Grenadines, the limited payment methods, and the lack of cryptocurrencies and futures CFDs. Therefore, it is important to conduct a thorough and unbiased review of any broker before deciding to trade with them. While Accuindex has some strong features to offer, you may also want to consider other brokers that have more experience and reputation in the industry. For more options, we suggest you check out our trading broker reviews.