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ACCFX Review - Is it scam or safe?

ACCFX Review - is accfx.com scam or good forex broker?

RATING: 2 / 8 REVIEWS ACCFX
ACCFX is an offshore broker. Your money is not safe.

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Trading Accounts

  

Account Type Minimum Deposit Maximum Leverage Spread
Mini $100 1:500 Average of 2.0 pips
Standard $1000 1:500 Average of 1.5 pips
VIP $10,000 1:500 Average of 1.2 pips

 

ACCFX offers three account types to its clients for forex and CFD trading. As you can see from the table above, trading conditions vary quite drastically, depending on the size of your initial deposit. Islamic (swap-free) accounts are also offered.

 

The Company. Security of Funds

 

Company Country Regulation
Alpha Capital Markets Ltd Saint Vincent and the Grenadines IFSA

 

 ACCFX is a trademark of Alpha Capital Markets. There are several companies baring this or very similar names, so beware of a potential coincidence, with one you may know. This company is registered on Saint Vincent and the Grenadines. They are also regulated by the local IFSA.  Dealing with off-shore companies is something we don't generally recommend.

 

Keep in mind, financial regulation is very important, when comparing forex brokers. If a company is regulated by the Australian Securities and Investment Commission, as an example, they must keep your clients' funds in the so called segregated accounts. This means the company can not access a client's investment freely, hence the possibility of fraud is drastically limited. Furthermore thr Commission requires AUD 1 million in capital holdings from brokers who apply for a license. This is done in order to demonstrate long-term vision and capital adequacy. 

 
Off-shore regulation is still better than no regulation at all, although we would still advice trading with a company, which is under much stricter oversight.

 

Trading Conditions

 

Minimum Initial Deposit

ACCFX requires a $100 minimum initial deposit. This is fairly reasonable, although some brokers have set their entry bar much lower, in pursuit of more clients, who would eventually be willing to deposit more,if they like trading. $100 may not be enough for a decent trading strategy, but is more than that, if you are trading a cent account. FXTM, for one, requires only $5 for new a new cent account to be opened.

 

As we mentioned above, the minimum requirement should not be a factor for experienced traders. It is not worth your time bothering with such accounts, as the return you are most likely to gain would be minimal. On the other hand, if you are just learning how to trade, this can be a middle-ground between demo accounts and real money trading.

 

Average spreads & Commissions

Spreads at ACCFX vary between the different account types. Our testing with the demo platform, saw the spread in EUR/USD go as low as 1.6 pips during the beginning of the New York trading session, which is a fairly liquid time of the day.  This is in line with the company's claims and furthermore not that bad when compared to the industry average of 1.0-1.5 pips for this pair. Have you ever wanted to compare the spreads offered by the leading forex brokers in real-time, without opening several accounts? We have done the work for you. Feel free to check them here.

 

Leverage

 ACCFX offers a maximum leverage ration of 1:500. This may seem like a lot, especially if you are used to trading other asset classes, but is not that uncommon, when it comes to FX. The most interesting thing, is that this level is offered to all clients, regardless of deposit size. Usually brokers limit the leverage on bigger accounts,  as a risk management procedure.

The fact a broker is giving you such high leverage levels shouldn't make you use it. The ability to take massive positions, with very little capital backing them may seem tempting. You can win big, while risking almost nothing. In reality, you are bound to have a loosing trade or even a series of losers. When they occur, proper risk management is the only thing which would keep your account safe.

 

Trading Platforms

 

ACCFX provides its services via  MetaTrader4(MT4). This is the most popular forex trading platform, by far, and this has positive implications. For one, there are many custom tools developed for it. The MQL programing language, which has often been described as fairly easy by programmers, has led to an explosion of new technical indicators and automated trading strategies. We have reviewed some of these forex robots here

 

MT4 also has great charting functionality, which technical analysts love. On the other hand the platform does tend to lag a bit, if too much instruments (more than 200) are being loaded at the same time. This does however also depend on your PC's hardware. That being said the platform also has app versions in both popular stores.

 

Methods of Payment

 

 ACCFX offers a surprising variety of payment methods. They include almost every e-wallet you can think of and are a s follows: Bank Transfer, Credit/Debit Card,  Neteller, Skrill, WebMoney, China Union Pay, CashU, Paysafe Cards, Perfect Money, Qiwi Wallet, iDeal, GiroPay, Lobanet, Poli Interenet Banking.

 

Conclusion

 

ACCFX is a forex broker, regulated in Saint Vincent and the Grenadines. As far as rules go, this is better than a company, which is not regulated at all, but you could easily find a broker under more stringent oversight. Trading conditions at the company vary a lot with the different account types. The first one is quite bad for today's environment, while the other too are ok (nothing special). There is a surprising number of payment options available at the company. Here is a list of this broker's strong and weak sides:

 

Pros Cons
MetaTrader4 (MT4) platform Off-shore regulation
Many payment options Almost competitive spreads

 

Latest news about ACCFX
No news about ACCFX. Check back later.
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Traders` reviews for ACCFX

Spread

Pros

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Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

حسام عادل رفعت إبراهيم سيقوم بتأسيس وسيط مزيف آخر (greencandlefx.com)

لمن يريد أن يعمل مع هؤلاء السمسار
وقد احتيال ACCFX حوالي 2 مليون دولار من الشعبين الإيراني والتايواني.
نبيل عابدين ، وهو مصري الجنسية يعيش الآن في الولايات المتحدة الأمريكية ، هو مؤسس شركة accfx. بعض صفحات الفيسبوك تدعي أنه مخادع! هو نفسه يقول أن وسيط ACCFX يباع لشخص مصري آخر حسام عادل رفعت إبراهيم.
لقد اتصلت معه. لسوء الحظ ، ليس لديه سوى الكذب!
إنه لأمر مدهش أن نبيل كان يبحث عن وسيط جديد في صفحته على الفيس بوك في يناير ويريد حسام إنشاء وسيط آخر (يقال في صفحته على الفيس بوك)
نحن نعلم أن المصريين الآخرين يشاركون في هذا الاحتيال:
سهير عدلي حتاتا
عمر احمد الهنداوي
مجدي محمد الجلنت

كن حذرا إذا كنت ترغب في العمل مع هذا الوسيط المصري القرف.
يبدو أنهم يهاجرون إلى وسيط آخر يسمى IMMFX. لذلك كن حذرا مع العمل هذا الوسيط أيضا

Translated by Google:

For those who want to work with these brokers
The ACCFX scam has about 2 million dollars of Iranian and Taiwanese people.
Nabil Abdeen, an Egyptian citizen now living in the United States of America, is the founder of accfx. Some Facebook pages claim to be deceptive! He himself says that the ACCFX broker is sold to another Egyptian person, Hussam Adel Refaat Ibrahim.
I contacted him. Unfortunately, he only has a lie!
It is amazing that Nabil was looking for a new broker on his Facebook page in January and wants Hossam to create another broker (said in his Facebook page)
We know that other Egyptians are involved in this fraud:
Suhair Adly Tahta
Omar Ahmed Al Hindawi
Magdy Mohamed El Gellant

Be careful if you want to work with this Egyptian mediator shit.
They seem to be migrating to another broker called IMMFX. So be careful with this broker too

ismail 04/16/2019

ACCFX IS Scam

To whom wants to work with these broker
ACCFX has scammed about 2 M dollars from Iranian and Taiwanese people.
Nabil aabdin, an egyptian person who now lives in USA, is the founder accfx. some facebook pages claims he is scammer! he himself says that ACCFX broker is sold to another egyptian person Hossam Adel Refaat Ibrahim.
We have contacted with him. Unfortunately, he has nothing but lie!
It is amazing that Nabil was searching for a new broker in his FB page in January and Hossam wants to stablish another broker(it is said in his FB page)
we know that other egyptian people are involved in this scam:

Soheir Adli Hatata (her name in social network is soha hatata)
Omar Ahmed El hendawi
Magdy Mohamed Elgalant

Be careful if you want to work with this **** egyptian broker.
It seems they are immigrating to another broker called IMMFX. So be cautious with working this broker too.

accfx is scam 04/15/2019

Scam - cheated me more than $70000

ACCFX is scam.
I have been in this broker since May 2018.
Since February 2019, I do not have permission to withdraw my money.
I sent many email to broker support but they not responsive.
They cheated me more than 70000 USD.
Please help me

Omid Jafarnia 04/05/2019

deceiving the customer

This company is not responsible, deceiving the customer, and bad quality.
We receive customer's communication design
It's a company that deliberately scams your money.

Those who saw the damage Let's accuse the company with me

sang woo lee 04/01/2019

SCAM

Still waiting for money. Do not transfer any money. It's a scam!

Mark 03/19/2019

Don't deposit in this broker!!! they are a scam .. they keep on postponing withdrawals

This broker is very unreliable and you should not invest your money with them...your money is unsafe... Waiting for my money since the beginning of February...

Now they are not even replying anymore to my emails and skype-messages... horrible experience...

bitcoinisqueen 03/15/2019

Don't deposit in them!!! They are scam.

It is scam.
I and my clients invested their managed trading plan for about 750K USD since Jun 2018 and we applied withdrawal on 7th Jan 2019 one after another. But there is nothing received so far. They always delayed our withdrawal requests by many reasons.

willto 03/12/2019

ACCFX is a scam

more than 100 clients deposit in ACCFX Brokers and this broker did not pay them

Afshin 03/05/2019
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