ACCFX is an ECN Forex broker offering a wide range of instruments, from currencies to spot metals. The company serves investors from all over the world.
Company. Fund security
ACCFX is a trademark of Alpha Capital Markets. This company is registered in Saint Vincent and the Grenadines and is regulated by the local FSA.
The broker works in an offshore zone, where, as you know, quite loyal working conditions are presented. Nevertheless, the broker claims to keep client funds in segregated accounts in reliable banks with a worldwide reputation, and ACCFX also protects client funds using internal established rules. For example, each client goes through a rigorous verification process.
Regulation of offshore organizations is better than no regulation at all. But we recommend that traders be more careful when working with an offshore broker and read the reviews about him at the end of the description.
ACCFX offers its clients three types of accounts for Forex and CFD trading. Trading conditions change depending on the size of the initial deposit. Islamic (swap-free) accounts are also offered.
Minimum initial deposit
ACCFX requires a minimum initial deposit of $ 100. This is a rather lucrative offer, although many brokers offer a deposit below, for example, $ 50 or even $ 1. However, $ 100 may not be enough for you to earn enough. But, on the other hand, if you are just learning to trade, then $ 100 is a great start.
Spreads and commissions
Spreads in ACCFX differ between different types of accounts. On average, the spread for the EUR / USD pair reaches 1.6 pips.
ACCFX offers a maximum utilization ratio of 1: 500. This is a fairly common proposal in the industry. Usually brokers set a lower leverage on accounts with large deposits. Nevertheless, the trader can always choose the amount of leverage or not use it at all.
ACCFX provides its services via MetaTrader4 (MT4). It is the most popular Forex platform. First, there are many customizable tools designed for it. MT4 also has great graphics that technical analysts love, a user-friendly interface, multilingual support, and allows pending orders. On the other hand, the platform lags slightly behind if too many instruments are loaded at the same time (over 200). This, however, also depends on your PC's hardware.
ACCFX has a helpful FAQ section on their website. Several phone numbers are also available to enable investors to contact the most appropriate team to address a specific request. The specialists communicate in English, Russian and Arabic. You can also contact the specialists by e-mail, as well as a dedicated address for partner support. Contact numbers are also provided for UK and Russian offices.
The site is available in English and Arabic.
Support does not offer Skype or live chat options.
The support works 24/5.
Ways of payment
ACCFX offers a variety of payment methods. These include wire transfers, credit / debit cards, almost all of the most popular e-wallets: Neteller, Skrill, WebMoney, China Union Pay, CashU, Paysafe Cards, Perfect Money, Qiwi Wallet, iDeal, GiroPay, Lobanet, Poli Interenet Banking.
MT4 is available; there are many payment methods available.
ACCFX is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker ACCFX makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. ACCFX received a score of 1 of 5 on our resource.