The world of Forex trading is a fast-paced and highly competitive environment, and this sector can even be dangerous if you are not skilled enough. What this means is that novice traders and gullible investors can quickly fall into a scam, and unfortunately, the foreign exchange market is notorious for its problems with frauds and malicious organizations. Our AccentForex review will provide the readers with everything they need to know about this particular broker, and relevant information and verified facts are the best tools for avoiding problems and headaches later on.
AccentForex – general overview
The fact that any reputable governing body does not regulate this broker is a clear sign of a potential AccentForex scam, and that is why we urge our clients to try another company if they are interested in investing in the Forex market. AccentForex was established in 2010, and it is owned and operated by Butenix Capital Ltd. However, this “corporation” is registered in Seychelles, a well-known offshore paradise for suspicious businesses, and AccentForex does not have offices in several areas of the world, such is the case with most reliable and professional brokers.
How to start trading with AccentForex
The majority of AccentForex reviews on the Internet are just paid ads, and you should be careful when reading those articles and guides. For instance, you will have several options to choose from when it comes to starting your account with this broker. However, the features and characteristics of these categories are not clearly displayed. Besides the demo account, which does not have a time limit and will “reward” you with $10.000 virtual money, there are also a Micro, Mini, Profit, STP, and a Swap-free account. Admittedly, the array of options is not small, but we also did not see the point of having so many types when the differences between them are minuscule.
No broker house can be successful without a fully functional trading portal, and even though AccentForex broker is using a MetaTrader4 platform – investors will be disappointed with the lack of professionalism. Stocks, commodities, and 64 currency pairs are on offer with this broker, but knowing the potential of the popular MT4 – a lot more could have been done with this handy piece of software. Obviously, the people behind AccentForex decided to only set up the most basic features of this software solution.
Bonuses and promotions
Since our AccentForex opinion is not a positive one, no amount of bonuses and “generous gifts” could make us forget the fact that this broker is not regulated and that it does not have a valid permit to operate in the global forex market. However, in case you still want to sign up with AccentForex, there is a 50% bonus on each new deposit with this trading provider. Also, you could submit a loyalty request, which would grant you with 40% deposit bonus.
When it comes to banking options, most AccentForex opinions will tell you that this broker does not introduce anything new and that their offer of payment methods is pretty standard. What this means is that traders can use credit cards, such as VISA or MasterCard, or they could decide to transfer the funds via WebMoney, OKPay, and Skrill. Also, bank wire transfer is available, but no SSL encryption on the site is another significant reason for concern.
Without license and regulation, and being registered in Seychelles, AccentForex Forex broker is a highly suspicious trading provider, and the same goes for their customer support. The website is available in several languages, such as Indonesian, Malay, Russian, and English, and you could reach their customer support team via Skype, phone, or e-mail. But, the lack of educational material and other similar features is a serious drawback when it comes to client satisfaction, and novice traders are particularly sensitive about this segment.
The final word
Trading with unreliable brokers bears a huge risk, and we do not recommend such actions. In other words, you should always sign up with a broker that has a long-lasting history in the business. Hopefully, our AccentForex FX broker review has covered all the elements of this company since we investigated all the details of their activities and operations. In the end, the fact that no reputable agency has issued its permit to AccentForex is the decisive factor for our negative opinion of this broker.