Company Summary
| AccumarketsReview Summary | |
| Founded | 2022 |
| Registered Country/Region | South Africa |
| Regulation | FSCA (Exceeded) |
| Market Instruments | Forex, indices, metals |
| Demo Account | ❌ |
| Leverage | Up to 1:1000 |
| Spread | From 1 pip |
| Trading Platform | MT5 |
| Minimum Deposit | R50 |
| Customer Support | Contact form, live chat |
| Tel: +27 66 052 8229 | |
| Email: support@accumarkets.co.za | |
| Physical address: 51 Shannon Road Noordheawel Krugersdorp Gauteng 1739 | |
| Operating address: Accumarkets 36 Wierda Road Wierda Valley Johannesburg | |
| Social media: Instagram, Facebook, TikTok | |
| Regional Restriction | US |
Accumarkets was registered in 2022 in South Africa, which focuses on forex, indices, and metals trading. It provides three types of accounts, with a minimum deposit of R50 and the leverage can be up to 1:1000. Accumarkets was regulated by FSCA, but its license was exceeded. Apart from that, it does not provide services to US residents.
Pros and Cons
| Pros | Cons |
| Low minimum deposit | High leverage ratio |
| MT5 supported | No demo accounts |
| Multiple channels for customer support | Exceeded FSCA license |
| Limited types of assets | |
| Regional restrictions | |
| No popular payment options |
Is Accumarkets Legit?
No, it was regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, but its license was exceeded, and the effective date is 14 October 2022.
| Regulated Authority | Current Status | Licensed Entity | Regulated Country | License Type | License No. |
| Financial Sector Conduct Authority (FSCA) | Exceeded | Elite Financial Services (Pty) Ltd | South Africa | Financial Service Corporate | 52677 |
What Can I Trade on Accumarkets?
Accumarkets offers three types of assets, including forex, indices, and metals.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Metals | ✔ |
| Indices | ✔ |
| Stocks | ❌ |
| Cryptos | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type
Accumarkets provides three types of accounts: Standard Account, 100% Bonus Account, and Cent Account. However, it does not mention whether a demo account is available or not.
| Account Type | Minimum Deposit | Spread |
| Standard Account | R50 | From 1 pip |
| 100% Bonus Account | R50 | From 1 pip |
| Cent Account | R50 | From 1 pip |
Leverage
Accumarkets does not specify the leverage ratio of different account types, and it only prensents a “comming soon 1 k leverage” plan, which shows the leverage can be 1:1000. Traders need to consider carefully before investing, since high leverage is likely to bring high potential risks.
Trading Platform
Accumarkets uses MT5 as its trading platform, which is a commonly used platform and is suitable for experienced traders.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | PC, web, mobile, mac | Experienced traders |
| MT4 | ❌ | / | Beginners |
Deposit and Withdrawal
Accumarkets accepts several types of payment methods: Ozow, Virtual pay, Paystack, DusuPay, and Match2Pay. Depositing is instant, and the processing time for withdrawal is generally within 24 hours. However, other details such as the accepted currencies and commission fees are not clear.
Skhutman
South Africa
I was is in profit on the m30 chart but it still shows losses I would recommend it to anyone
Exposure
Shadow 2020
South Africa
This broker at first was fine but soon it started showing its ugly side ,I had 60k pending withdrawals of 5k each in total 15k I was then sent an email on the 26th of September saying that my account is under review,I was told this investigation will be for a period of 7 Days but it ended up going on for 2 weeks ,I was then sent an email by neo brokers stating my money was voided and no refund will be made , I was told that I used trading strategies that was not allowed but they never specified anything,so please stay away from this broker it's a Ponzi scheme
Exposure
WOLF OF FOREX
South Africa
Accumarkets disabled my trading account and froze my account then sends me a letter stating they will refund my deposits, my trade is still active as nas100 has dropped around 1000 pips from entry Profit is in excess of R1milThey placed me on an investigation for over 1 month I will be taking legal action against them and also opening a fraud case This also happened on alpha markets They frozen my account I took R20000 to R280000They disabled website access and also my trading account See screenshots
Exposure
FX4256241702
South Africa
I recommend this broker with this reasons. Fast withdrawal and deposit. Bonus, good spread and laverage is good especially when you trade indices.
Positive
Max Lewis
Netherlands
On the positive side, their platform was smooth and user-friendly for executing trades quickly. Spreads were also competitive on certain major currency pairs. But I did hit some bumps too. Withdrawals took a full week to process - slower than ideal. And their exotic currency pair spreads were on the high side.
Neutral
Viku trader
India
A perfect broker with low spread in indices and great support with deposit and withdrawal with USDT 🔥💯
Positive