AccentForex: broker of new generation or limited opportunities?
AccentForex positions itself as a market participant with a mission, proclaims its honesty and transparency, and lures traders with its commitment to provide high-quality services. The official website of the stock broker is full of slogans. Okay, let's check.
Basic information about AccentForex
Dealing center AccentForex as part of Accent Markets Group belongs to Butenix Capital Ltd. The broker is an offshore company registered in Vanuatu and licensed by the Vanuatu Financial Services Commission.
The broker obtained the license of Vanuatu in February 2017. At the same time, some positive reviews of AccentForex’s activity indicate 2010 as the date of foundation, creating an illusion that the company allegedly has considerable experience of working in the forex market.
AccentForex offers 5 types of accounts:
1. Micro: deposit - from $50 to $1,000, leverage - up to 1:500, spread - from 2 pips, trade size - 0.1-5 lots.
2. Mini: deposit - $100– $10,000, leverage - up to 1:200, spread - from 0.5 pip, trade size - from 0.1 lot.
3. STP: balance - $100– $10,000, leverage - from 1:1 to 1:200, spread - 0.1 pip, trade size - from 0.1 lot.
4. Profit: deposit - from $1,000, leverage - up to 1:100, spread - from 0.5 pip, trade size - 1 pip.
5. Swap-Free takes into account the religious beliefs of the company's clients. An Islamic account is provided upon request.
The company offers its clients an opportunity to open a demo account as well as a PAMM account. It is possible to open up to 5 accounts. Customer support is also available.
Although AccentForex positions itself as a new generation broker, there is no way to trade on mobile devices. Trading can be conducted only through a PC after the software is installed.
The most important thing is trading hours. Trading with the broker is available from 4:30 PM to 11:30 PM UTC+11!
The Public Offer Agreement also raises doubts. Market participants should read it carefully. AccentForex regards customer funds as assets to cover losses, disclaims all responsibility for delays and losses due to disruption and technical issues, and provides traders with 2 days to challenge the decision.
Feedback from traders
Judging by the reviews posted this year, the company is losing customer trust. There are no positive comments. Many clients claim that the broker's quotes are not accurate, as well as the execution of orders is not instant. Besides, traders note that it is impossible to withdraw funds, the broker's support service ignores customer requests, their deposits are drained, and the withdrawal process is long. Thus, traders do not recommend cooperating with this offshore company.
AccentForex claims to be the leader in the market and yet offers extremely limited opportunities. Traders can hardly make a profit trading in the dynamic market in limited hours and without using mobile applications. The spread offered by the broker is average, the quotes are not accurate. In addition, a great number of complaints about technical issues is a cause for concern. Clients from the CIS countries accuses the company of fraud and criticize the work of its support service. According to the Public Offer Agreement, AccentForex disclaims responsibility for a number of factors which may lead to the loss of customer funds.
The company's offshore registration and the Vanuatu Financial Services Commission can hardly ensure the safety of traders' funds. Can you trust AccentForex? Traders claim that you can’t. One thing is for sure: AccentForex is inferior to even offshore competitors in terms of trading hours as well as opportunities provided by its platform.
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I had an account at AccentForex but it only lasted for a couple of months. I ended up losing my money because the broker did not agree to release it. The company also blocked me from all communication channels so there was no way for me to reach them anymore.
It is impressive that the broker offers multiple account types which can cater to all kinds of traders. However, the platform, assets and tools are quite limited. Even if I try so hard, trading at this broker is just too hard. I was not able to make any progress at all.
I have seen a lot of negative feedback towards AccentForex. If you really want to pursue trading, just look for a more reputable company. Take time to research the background of the company so that you won't end up wasting your time and money.
As a former trader at AccentForex, I must say that it would be wise if you just stay away from the company. They promise lucrative trading conditions, but they are not true. Besides, it has not strong regulation so your funds are not really secured.
AccentForex appeared trustworthy. I had an account with them for several months and I had an amazing experience. I was shocked when the broker suddenly banned my account. I tried reaching out to them but they never got back to me.
When I opened an account at AccentForex, I thought that I would be having a profitable experience. I never expected that I will end up losing all the money I invested. I trusted the broker so much that I did not think it would do something like this. I lost my account and my money just a few weeks after opening an account.
I had a mini account at AccentForex and I deposited a total of $500. At first, I thought that I was having a great experience since I was continuously earning. But then when I tried to withdraw my funds, the broker did not approve it and later on terminated my account.
AccentForex only has one trading platform. It is very limiting especially for me who is always on the go. I cannot always bring my laptop with me or open it every now and then that is why I want a broker that offers a mobile platform. The representative from this company told me that they are already developing it that is why I gave them a chance but until now, there is still no mobile platform.
I had a micro account at AccentForex and I only invested the minimum amount. I guess I at least made the right decision because after opening an account, I saw how terrible their services are. There is too much slippage in the platform and the charts are not always updated.
AccentForex thinks of themselves as a top broker when in fact, their services are pretty average. Their platform runs fine but it still gets a lot of issues. The trading spread is also not that tight. Basically, this is the kind of broker that won't be a top choice.
I honestly thought that AccentForex is one of the strongest Forex brokers in the industry but I was mistaken. This company is all talk but they are not able to provide what they claim to offer. I lost all my money to this broker because of their malfunctioning platform.
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