AccentForex Broker Review
AccentForex was introduced by a financial company called Accent Markets Group Inc in 2010. It was during the same year that it gained its license to operate from the Vanuatu Financial Services Commission (VFSC). After a decade of expansion, this broker is currently known as a provider of Foreign Exchange, Contract for Difference, shares, futures, and precious metals. While its highly flexible offers cater to all kinds of traders, it aims to stand ahead of its competitors through PAMM accounts and exciting bonuses for VIP clients.
At the time of writing, AccentForex has a total of 140 financial instruments at its disposal. These cross-asset instruments include 60 currency pairs, numerous contracts for difference in shares, 13 futures, and some valued metals such as spot gold and silver. While the selection is decent if we are to compare with industry standards, it still comes inadequate as there are no cryptocurrencies available.
Apart from a plethora of tradable asset classes, clients will surely enjoy some of its generous conditions including a minimum leverage of 1:1 up to a maximum of 1:500. This kind of setup will come favorable for traders who want to go big with just little capital. Below are other specifications that interested parties must know before subscribing to AccentForex.
Account Selection
AccentForex offers four live accounts for retail traders, while the Islamic swap-free accounts and PAMM accounts are made available for long-term investors.
Micro Account- This entry level account is ideal for clients who want to switch from a demo account to a live account. It offers 20 currency pairs, various contracts for difference, and its variable spread starts at 2 pips. With a minimum deposit of $50, traders are also provided with leverage up to 1:500.
Mini Account– To open this account, clients are required a minimum deposit of $100. For this amount, they will get floating spreads as low as 0.5 points, while its leverage is up to a maximum 1:200.
Profit Account- While this account demands higher deposit, it still has the same floating spreads that the Mini Account offers. And for $1,000 dollars, its leverage will come unreasonable since it only offers a ratio of 1:100.
STP Account- With this account, clients will be given floating spreads starting from 0.1 pips. Meanwhile, its leverage may be utilized up to 1:200, a considerate condition for a minimum deposit of $100.
PAMM Accounts- These fully-automated accounts let clients follow and copy winning strategies. These also provide ratings that will come beneficial in determining which top traders to follow.
AccentForex Platforms
This brokerage firm utilizes the MetaTrader 4, an external trading platform developed by MetaQuotes Software Corp. Currently, this platform stands as the most popular system in the industry as it is loaded with the most essential tools for technical and fundamental analyses. It may also be used for automated trading but this will require third-party plugins to unlock its full functionality.
In addition to this, clients may use to their advantage some of its unique features including live access to market liquidity, multiple order types, and a well-organized comprehensive trading history. Installation would not come daunting for users as it is available in multiple operating systems including iOS, Android, and Windows. Putting this into consideration, it can be noted that MT4 is a well-rounded option for both novice and professional traders.
Additional Features
Bonuses and Promotions- In terms of generosity, AccentForex never fails to deliver exciting bonuses and incentives. For every deposit over 100 EUR or USD, clients will automatically get a 40% bonus. Moreover, it also grants a 35% bonus on accounts that has at least 300 EUR or USD. Its Master Scalper contest for demo account holders also keeps users’ interest with $1000 at stake. And for those who have been a subscriber for a long time already, they are granted an 8% bonus per annum should their trades exceed 5 orders every month.
Customer Support– Compared to other brokers, AccentForex has weak customer assistance available 24 hours a day and 5 days a week. It has only one active line of communication and traders with queries may contact its support team via email. Apart from that, it does not have any telephone line or a live chat function.
Conclusion
As AccentForex uses the MT4, clients are guaranteed that all positions are secured and well-executed. More so, its wide selection of accounts, bonuses, and decent asset selection will surely appeal to larger audiences. However, there are still some aspects that need improvement including its customer support. But for those who still want to subscribe to AccentForex’s services, it is suggested that they first conduct a in-depth research about the broker.
