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ACB Inc Review - is it scam or safe?

ACB Inc review - Is acbservice.com scam or good forex broker?

RATING: 1.1 / 0 REVIEWS ACB Inc
ACB Inc is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


ACB Inc is an offshore broker, offering over 70 currency pairs with a leverage as high as 1:1000 and the MetarTrader5 platform. Unfortunately the broker is not regulated, so if you are thinking about depositing your funds with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $300 1:1000 3,1 pips + $10/lot

 

ACB Inc Advantages:

 

Leverage as high as 1:1000

 

We rarely see leverage as high as 1:1000 nowadays, especially after ECMA – the pan European regulator adopted its new rules, according which leverage offered to retail traders can not exceed 1:30.  Similar moves were taken also by the authorities in the U.S., Canada and Japan, so currently higher leverage levels can be seen only with offshore brokers and brokers regulated in Australia. And because we do not recommend you to deal with unregulated brokers like ACB Inc, here you may check our list of financial intermediaries, regulated in Australia:

 

>>Brokers regulated in Australia<<

 

Over 70 forex pairs

 

ACB Inc offers lots of forex pairs, well over 70, many of which minor or exotic like USDRUB, USDZAR, USDTRY, USDSGD, USDSEK, USDRON, USDPLN, USDNOK, USDMXN, USDILS, USDHUF, USDDKK, USDCZK and USDCNH. Also we were given access to CFDs on precious metals like silver, gold, platinum and palladium, and a number of stocks. No crypto assets were direactly available on their trading platform however, so  here you may also check our list of brokers, trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

MetaTrader5 supported

 

MetaTrader5 is the successor of MetaTrader4 – a remarkable platform that still dominates the market, ever since its launch in 2005.

 

 

Both MT4 and MT5 have an excellent set of advanced charting tools, numerous in-build market indicators and specially designed trading robots, with the help of which you can easily run automated trading sessions. With a MT5, however you can gain access different financial markets through a single account, so here you may also check our list of brokers supporting the platform:

 

>>MT5 Brokers<<

 

ACB Inc Disadvantages:

 

No license

 

Although ACB Inc says to be represented by a company based in the UK -  ACB INTERNATIONAL LTD, the true owner of the broker is ACB Incorporation LTD. - an offshore company based on the  Marshall Islands. 

 

And neither ACB Incorporation LTD. nor ACB INTERNATIONAL LTD are regulated as they should be, if the broker wants to offer financial services to traders in Europe, the US. Australia, Canada or Japan.

 

More specifically all financial companies operating in the UK, should be licensed and authorized by the local Financial Conduct Authority (FCA) – one of the most respected financial watchdogs in the industry. So we checked the FCA register and we were unable to find  ACB Inc or any company related to it there. That means ACB Inc is a unregulated, offshore broker with rather limited credibility, where the safety of your funds will not be guaranteed.

 

On the other hand, with a FCA regulated broker, your funds will even be covered by an insurance from a special client compensation fund. So if for any reason your FCA broker is unable to pay you, you will receive up to 85 000 GBP of your funds. This is a good reason to check our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<<

 

High spreads

 

As tested with a demo account the benchmark EURUSD spread floated above 3 pips, which combined with the trading commission of 10 USD per standard lot (round trip) makes the spread unacceptably high – above 4 pips. Bear in mind that in general spreads are considered attractive only when they start below 1,5 pips. And besides, here you may also check for a broker offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Few payment methods

 

ACB Inc accepts payments with major cards like VISA and MasterCard, bank wire and USD Tethers, but not with popular e-wallets like Neteller and Skrill. That, by the way is notable, especially in the light of the latest anti – scam policy adopted by Skrill. According it Skrill will partner only with brokers, holding a legit license. As we already noted, ACB Inc is not a licensed broker.

 

High minimum deposit requirement

 

To start trading with them ACB Inc wants you to deposit at least 300 USD and that is higher than what most brokers would require. On top of that some big well known brokers like FBS and IG will allow you to start trading with just a couple of dollars or so.

 

Conclusion:

 

We can not recommend a unregulated broker for one very simple reason. Unregulated brokers are totally unaccountable for the way they handle your money, and quite too often are simply involved in scam. As we already discussed ACB Inc is an offshore broker, which does not have a legit license. 

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Traders` reviews for ACB Inc

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