Accuindex Review 2023

Trust

Accuindex Regulations

Accuindex operates under three entities:

• Accuindex Limited is regulated by the Financial Services Commission (Mauritius). We rate FSC as a Tier 3 regulator.
• Accuindex EU Limited is regulated by the Cyprus Securities and Exchange Commission. We rate CySEC as a Tier 1 regulator.
• Accuindex Ltd is incorporated in St. Vincent & the Grenadines. It is an unregulated entity.

Why is It Important to Know Where Your Broker Subsidiary Is Regulated?

Each regulator has its requirements for brokers, which may differ substantially. Such requirements include leverage levels and specific protections offered to investors, including negative balance protection, segregated accounts, and investor compensation funds. Traders must understand the differences between regulations to evaluate whether the broker suits their needs and provide sufficient protection.

With Accuindex, traders can open an account with Accuindex Limited regulated by FSC, a Tier 3 regulator, and Accuindex EU Limited regulated by CySEC, a Tier 1 regulator. Accuindex also has an unregulated entity Accuindex Ltd, which is incorporated in St. Vincent & the Grenadines.

The broker holds clients’ funds in segregated accounts to ensure that the clients’ money is not used for the broker’s own business purposes. Using segregated accounts increases the safety of clients’ funds in case the broker has financial problems.

Accuindex also provides negative balance protection, which means that clients cannot lose more money than they have in their accounts. Traders should note that clients who choose the Raw Account opened with the FSC-regulated entity will not have negative balance protection.

We have summarized key aspects of the broker’s entities in terms of regulation and safety in the table below:

Is Accuindex Safe to Trade With?

Accuindex has entities regulated by Tier 1 and Tier 3 regulators, and an entity that is unregulated and registered in St. Vincent and the Grenadines. Global clients open accounts with the FSC-regulated entity, while EU-based clients have access to the CySEC-regulated entity. Both entities provide negative balance protection and hold their funds separately from the firm’s funds. The segregation of the client’s funds ensures that the broker cannot use them for its own needs. Moreover, with negative balance protection, clients cannot lose more money than they have in their accounts. Note that an unregulated entity offers a low level of protection.

Stability and Transparency

In our tests for the Trust category, we also cover factors related to stability and transparency. Here, we focused on how long the broker has been in business, how big the company is, and how transparent it is in terms of information being readily available.

Founded in 2016, Accuindex is not publicly traded and does not have a bank parent, which is common for a forex broker. Accuindex received a high score for fee structure transparency, regulation protection transparency, and general transparency. The broker provides easy access to all important documents, while the details of the fee structure can be found on the Account Types page.

The important legal documents can be found in the dedicated section of the website. These documents include Client Agreement, Complaint Procedures, Privacy Notice, Withdrawal and Refund Policy, and other important information.

In summary, our findings indicate that Accuindex can be regarded as having a sufficient level of transparency and stability due to the following factors:

• Regulated by Tier 1 and Tier 3 regulators.
• More than 7 years in business.
• Easy access to important information on the company’s website. The broker offers low spreads for GBP/JPY and Gold but high spreads for Oil and Bitcoin.

Fees

Accuindex Trading Fees

For this review, we tested the Accuindex Standard Account where the broker charges spreads and swap/rollover fees but has no commissions. Spreads are variable and depend on the liquidity condition in each instrument at a certain point in time.

Accuindex Spreads

We tested the spread on the Accuindex Standard Account during the London open at 8:00 a.m. UK time and just after the US open at 2:45 p.m. UK time. These are the most actively traded times.

Accuindex offers low spreads for GBP/JPY, Gold, Apple, Dow, and Tesla. Spreads for DAX and EUR/USD were medium, while the spread for WTI oil was high.

Swap Fees

Traders should note that Standard Account and PRO Account are swap-free for 10 days.

Are Accuindex Trading Fees Good?

Accuindex received a decent score in the Fees category in our rating. The broker offers attractive spreads for GBP/JPY, Gold, Apple, Dow, and Tesla.

Non-Trading Fees

Accuindex does not have a dormant account fee. Any account that is dormant for a period of twelve months will be closed on the first day after twelve months of no transactions.

Platforms and Tools

Accuindex Desktop and Web Platforms

In our review, we tested the MetaTrader 5 platform analyzing charts, indicators, drawing tools, orders, and the general ease of use of the platform.

General Ease of Use

MT5 is an advanced trading platform that could be tailored to traders’ needs. The interface is rather intuitive, although some traders may want to search for tutorials to take a deep dive into MT5’s capabilities. In general, advanced traders would have no problems with MT5, while beginners have to spend some time learning the basics of this platform.

Beginner traders should go through various chart options, indicators, drawing tools, and orders. Also, they may need to learn how to create their watchlists and manage their trading positions. Nevertheless, this work requires some time and effort, traders who invest in that ultimately receive a powerful tool that helps achieve better trading results.

Charts

MT5 offers 97 indicators and 21 timeframes, which is more than enough to customize your charts and adjust them to your needs.

Trend indicators, oscillators, volumes, Bill Williams indicators, and custom indicators help to design the chart you need.

Available timeframes range from 1 minute to 1 month so they provide the trader with an opportunity to take a look at short-term developments and significant multi-month trends.

MT5 also supports objects:

• lines
• channels
• Gann tools
• Fibonacci tools
• Elliott tools
• shapes

Many traders use these popular tools to make decisions, so their presence is a must for any reputable trading platform.

Each chart could be displayed as a bar, a candlestick, and a line. Candlesticks are generally the most popular among traders as they suggest plenty of various patterns that are used for making trading decisions. Although, other types of charts also have their fans.

MT5 charts are accessible even to novice traders but they also offer enough options for experts.

Orders

MT5 offers all main order types including:

• Market order. This order is used to buy or sell the instrument at the current market price. It is used when the trader needs to establish a position in the fastest possible way. The main downside of the market order is the necessity to pay a spread, which is a difference between the bid price and the ask price.
• Limit orders. This order is used to buy or sell the instrument at a pre-set price or better. A limit order is used when the trader wants to get a specific entry point and is unwilling to pay the current market prices.
• Stop-loss orders. Stop-loss orders are used to get you out of the position when the price is moving in the wrong way. The order is triggered when the price reaches a specified point.
• Stop limit orders. This is a stop-loss order which puts a limit order instead of a market order when it is triggered. This is a dangerous way to get out of the position and it should be used only by experienced traders.
• Trailing stop orders. This order allows you to set a stop order that will move if your open position trends in the right direction. This order is used to protect your profits in case the market direction reverses.

Different expiration types are available for all pending orders, including GTC (good-till-cancel), Today, Specified, and Specified Day.

Accuindex Mobile App

In this review, we have tested the Accuindex MetaTrader 5 Mobile App for Android and iOS.

General Ease of Use

The MT5 mobile app for Android is rather easy to use. It provides charts, quotes, account balance info, economic calendar, news, and other tools giving traders an opportunity to make informed trading decisions.

Charts

MT5 mobile app offers:

• 30 technical indicators
• 24 drawing tools
• 9 timeframes
• 3 chart types

This selection of options is sufficient for mobile-based trading. Typically, the mobile app is used when the trader does not have access to the desktop platform but needs to monitor the market and open positions. While the app is helpful in certain circumstances, it is not as efficient as the desktop platform, which remains the primary solution for traders who require fast and active trading capabilities.

Orders

In an MT5 mobile app, you can set market orders, limit orders, and stop orders. Trailing stops are not available on mobile trading terminals.

Tradable Instruments

Accuindex provides access to 28 forex pairs, 4 commodities, 177 stocks, 11 indices, and 4 cryptocurrencies. The broker also offers 21 energy futures (various maturities for natural gas, WTI oil, and Brent oil) and 12 indices futures (various maturities for DAX, Dow, SP500, and NASDAQ).

What are CFDs?

CFDs (Contracts for Differences) are financial instruments that allow traders to bet on securities without owning the underlying securities. The key advantage of CFDs is the access to significant leverage, which is typically not available when trading other instruments. Due to that, CFDs are very popular in short-term trading.

What Can You Trade with Accuindex?

• 28 forex pairs. The list includes the most popular currencies, such as EUR/USD and GBP/JPY.
• 4 commodities. Gold, silver, WTI Oil and Brent Oil are available for trading.
• 177 stocks. The list includes stocks from the U.S., Hong Kong, Germany, the UK, France, and Spain.
• 11 indices. Accuindex offers the most popular world indices like Dow, DAX, and S&P 500.
• 33 futures. Traders have access to various maturities on energy and indices.
• 4 cryptocurrencies. Accuindex provides access to Bitcoin, Ethereum, Litecoin, and Ripple.

Accuindex offers forex pairs, commodities, indices, stocks, cryptocurrencies, and futures. The number of available forex pairs, cryptocurrencies, and commodities is low. The number of available indices is high, while the number of stocks is medium.

Customer Support

Accuindex Customer Support Test

We have contacted customer support via online chat and Telegram asking about trading platforms, available instruments, and swap rates. Our test showed that the support was limited only to bot answers, which suggested various articles on the broker’s website.

Deposit and Withdrawal

Accuindex clients can deposit money via Cashu, Neteller, Skrill, Visa, Wire Transfer, Bitpay, Crypto, Perfect Money, and ThunderX Pay. Withdrawals are available via Wire Transfer, Neteller, Skrill, Cashu, and Perfect Money.

Accuindex Deposits

Accuindex provides a high number of deposit and withdrawal options. These options include debit/credit cards, bank transfers, e-wallets, and crypto. Most payment methods are limited to USD, but Wire Transfer can also work with AED and EUR.

Accuindex Withdrawals

Accuindex does not charge fees for withdrawals, but the remitting bank/wallet fees apply. Most withdrawals are processed instantly, while Wire Transfer may take up to 5 working days.

Account Types and Terms

The broker provides two spread-based accounts (Standard Account and PRO Account) and one commissions-based account (Raw Account). To test the broker’s services without risk, traders can open a demo account. The account opening process is very simple – you can find the registration link on the front page of the Accuindex website.

Why is Choosing the Right Account Type Important?

The account you choose must suit your needs. Typically, the trader should focus on base currency options, contract size, commission, fees, the number of pending orders/positions, and the minimum deposit size.

In the Accuindex case, traders can opt for spread-based accounts and a commission-based account. Typically, spread-based accounts are used for frequent trading with low entry volume. Commission-based accounts become more attractive when the entry volume increases.

What Account Types Does Accuindex Offer?

Accuindex offers three types of accounts: Standard Account, PRO Account, and Raw Account. Standard and PRO are spread-based accounts, where the broker charges spreads and swap/rollover fees but does not charge commissions. Raw Account offers tight spreads but requires commissions for the trades.

What is CFD leverage?

CFD Leverage allows you to avoid paying the full value of the position. Instead, you pay a deposit, which is called a margin, while the remaining funds are borrowed.

In the Accuindex case, the maximum leverage is 1:400 for those who open an account with the FSC-regulated entity. The CySEC-regulated entity is limited to the leverage of 1:30. Traders should note that the leverage of 1:400 is a high level of leverage, so they should be careful when using the maximum available leverage.

Accuindex Account Opening Process

The account opening process is simple and straightforward. It takes a couple of minutes to register with Accuindex and get access to the client portal, where the client can easily finish the registration process.

Accuindex Account Opening Process

To open an account with Accuindex:

• Step 1: Go to the broker’s website and click “Trade Now”.
• Step 2: Provide your name, country of residence, phone number, and email, and set a password.
• Step 3: Provide your address, nationality, and date of birth.
• Step 4: Provide the information on your profession, employment status, annual income, and source of funds.
• Step 5: Upload documents to verify your identity and address.

What is a demo account?

A demo account is an account that allows you to test the broker’s services and your trading skills without risking your money.

Please note that your trading experience will differ when you use a demo account compared to a real-money account due to human psychology, as traders find themselves under pressure when real money is at stake.

It’s a good idea to use the demo account for practicing and learning the trading platform, but do not spend too much time on the demo. In the Accuindex case, traders can open a demo account by clicking this link.

Research

Accuindex offers an economic calendar and provides market commentary in the Insights section of its website which included analysis of forex, commodities, and general economic data. Also, there are dozens of videos on the broker’s YouTube channel where you can find some technical analysis videos. However, this content wasn’t updated for months on both sources.

Traders should note that Accuindex also provides a third-party VPS service for $25 monthly. To apply for the free VPS services, the client must meet certain requirements, including an account balance of more than $2000 and a minimum number of 10 standard lots (round trip) completed within the past calendar month.

Education

Accuindex provides access to Accuindex Academy, which is a collection of short articles on Markets, CFD trading, Forex, Analysis, Risk, and Psychology. The articles may serve as a useful intro for beginner traders who need basic knowledge of markets.

Additionally, Accuindex Academy launched three courses for beginner, intermediate, and advanced traders. Those courses provide materials on the Forex platforms and give an understanding of trading tools, charts, and indicators. Notable that the students may have real-time sessions with instructors, asking the questions they’re interested in.

All in all, Accuindex’s educational support is quite limited and better suits for beginners as it mostly covers basic topics.

The Bottom Line

Accuindex, a relatively young CFD broker founded in 2016 and based in Mauritius, offers a mix of regulated and unregulated entities, providing varying levels of protection for traders. While it boasts the popular MetaTrader 4 and MetaTrader 5 platforms, its educational support and market analysis materials may leave experienced traders craving for more.

Accuindex’s offering includes three types of accounts, but the number of available forex pairs, commodities, and cryptocurrencies is relatively limited. However, it does offer low spreads for select instruments, which may catch the attention of traders looking for cost-effective options.

The broker provides a high number of deposit and withdrawal options without any fees, but its customer support is limited to bot answers via online chat, leaving traders seeking more personalized assistance possibly feeling frustrated.

Furthermore, Accuindex’s research materials have not been regularly updated, receiving a low score in the Research category in our rating. While its educational support may be suitable for beginners, experienced traders may find it lacking in depth and breadth.

FAQ