Accel is a Contract for Difference (CFD) broker officially registered on March 27, 2024. This broker primarily offers a wide range of trading markets to its users through its proprietary trading platform and mobile application, including Forex, stocks, futures, energy, precious metals, cryptocurrencies, CFDs, etc.
Company Registration and Regulatory Status:
Public information on Accel's official website indicates that its headquarters are located in Australia, authorized and regulated by the Australian Securities and Investments Commission (ASIC), with a license number of 488828. Additionally, the broker is registered and regulated by the US National Futures Association (NFA) and the Financial Crimes Enforcement Network (FinCEN) in the United States, with an NFA ID of 0558052.
Upon verification, the Australian Securities and Investments Commission (ASIC) official website shows that the enterprise entity with license number 488828 is STAR FUNDS MANAGEMENT PTY LTD, which has no relation to Accel. The US National Futures Association (NFA) identifies the enterprise entity with NFA ID 0558052 as TONGLI WEALTH INCORPORATION.
The Financial Crimes Enforcement Network (FinCEN) in the United States has a registered entity named Accel Group. However, FinCEN's mission is to safeguard the financial system from illicit use, combat money laundering and its related crimes (including terrorism), and promote national security through the strategic use of financial authorities and the collection, analysis, and dissemination of financial intelligence. It does not regulate financial derivative trading.
Moreover, the design and content of this broker's website closely resemble those of VTPTRADE, CTRL FX, NASDAQK LIMITED, BROKERNET AUSTRALIA PTY LTD, IVISION, ASEX, and other brokers.
Account Opening:
Currently, the account opening link provided on Accel's official website is not accessible.
Trading Account Information:
Accel's official website only discloses information on spreads, trading leverage, margin call/stop-out levels, and contract sizes, while details on account types, trading commissions, minimum/maximum trading volumes, maximum position/order volumes, and minimum pricing precision are not disclosed.
- Spread: Variable spreads
- Trading Leverage: 1:100—1:500
- Margin Call/Stop-Out Levels: 100%/50%
- Contract Size: 1 lot = 100,000 currency units
Trading Platform:
Accel provides users with the ST5 trading platform.
Deposits and Withdrawals:
Accel does not clearly disclose the supported deposit and withdrawal methods, fees, and minimum deposit and withdrawal amounts on its official website.
Conclusion:
Traderknows warns investors that Accel is a forex scam website with opaque registration and regulatory information, and it is suspected of false advertising. Users can only contact this broker via email, making the means of contact extremely limited. Its official website's design and content use the same template as other broker websites such as VTPTRADE, CTRL FX, NASDAQK LIMITED, BROKERNET AUSTRALIA PTY LTD, IVISION, and ASEX. Traderknows advises investors to opt for brokers that are transparent, strongly regulated, and have a good reputation for their investment trading activities to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
