AccentForex Review (2023)
Is AccentForex a scam or legit broker?
No, it is not safe to trade with AccentForex. The broker is owned by Accent Markets Group Inc. which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.
About AccentForex
| 🗺️ Registered in | Vanuatu |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is AccentForex safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Despite the fact that the VFSC regulator completely controls the activities of market participants and ensures compliance with international standards, Vanuatu is the easiest jurisdiction to open a brokerage. The opening requires the company to submit a register online, prove initial establish capital which is $2,000 only, to pay a fee, and within a 2-3 month, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as Circle Markets, 70Trades and more.
As to the broker’s VFSC license, there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu.
In addition, the broker has been banned by Canadian regulator Financial markets Authority of Quebec:
Conclusion
We advise all investors and traders to avoid AccentForex and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and Eightcap.