Overview of Acetop
Acetop, a financial broker based in the United Kingdom, operates without valid regulation, raising concerns about its legitimacy and the potential risks it poses to investors. The absence of regulatory oversight means that the company is not held accountable to specific rules or standards, leaving investors vulnerable to fraudulent activities or unscrupulous practices. It is crucial for individuals to exercise caution and conduct thorough research before engaging with Acetop or any unregulated entity in order to protect their investments and financial well-being.
Acetop offers market instruments in three categories: Forex, Indices, and Commodities. Forex instruments include various currency pairs, allowing traders to speculate on exchange rates between different currencies. Indices instruments cover popular market indices, enabling traders to take positions and speculate on their performance. Commodities instruments encompass precious metals like gold and silver, as well as crude oil. These instruments provide opportunities for traders in these markets.
While Acetop provides account types such as Spread Bet and CFD, along with trading platforms like MT4 and mobile applications, it is important to consider the reviews and feedback from users. Reviews on WikiFX indicate concerns regarding fund withdrawals and suspicions about the platform's legitimacy, with users reporting difficulties in withdrawing funds and encountering issues with fees and domain name changes. These reviews highlight doubts about Acetop's trustworthiness and reliability.
Pros and Cons
Acetop has both pros and cons that should be considered before engaging with the platform. On the positive side, Acetop offers a variety of market instruments, including Forex, Indices, and Commodities, allowing traders to diversify their portfolios. They provide Spread Bet and CFD account types, catering to different trading preferences. Acetop also offers a demo account for practice purposes, allowing users to gain experience without risking real funds. The platform provides a range of spreads across different asset classes. Additionally, Acetop offers multiple deposit options, including Bank Transfer, Credit/Debit Cards, and E-Wallets, making it convenient for users to fund their accounts. They also provide the popular MT4 trading platform and mobile apps for easy access to trading activities. Acetop offers educational resources to assist traders in expanding their knowledge. The platform adheres to standard trading hours, providing consistency. However, there are some concerns to be aware of. Acetop has a suspicious regulatory license, which raises questions about its legitimacy and potential risks for investors. Reviews indicate a lack of trustworthiness and reliability, with difficulties in withdrawing funds and limited customer support hours. There is also a lack of transparency in terms of fees and charges, and important information, such as leverage and key indices, is not clearly provided. It is crucial to thoroughly research and consider these pros and cons before making any decisions regarding Acetop.
Is Acetop Legit？
Acetop, a broker in the financial industry, operates without any valid regulation, which poses significant risks for potential investors. The absence of regulatory oversight means that the company is not held accountable to any specific rules or standards, potentially leaving investors vulnerable to fraudulent activities or unscrupulous practices. It is essential for individuals to exercise caution and thoroughly research before engaging with Acetop or any unregulated entity in order to protect their investments and financial well-being.
Market Instruments
Acetop offers market instruments in three categories: Forex, Indices, and Commodities.
Forex
Forex instruments include various currency pairs such as AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NOK, EUR/NZD, EUR/SEK, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, GBP/USD, NZD/CAD, NZD/CHF, NZD/JPY, and NZD/USD. These instruments allow traders to speculate on the exchange rates between different currencies.
Indices
Indices instruments include popular market indices such as Eurostoxx 50, Germany 30, Hong Kong 50, Japan 225, Spain 35, UK 100, US SPX 500, US Tech 100, Wall Street 30, and US Dollar Index. Traders can take positions on these indices and speculate on their performance.
Commodities
Commodities instruments include Gold (XAU/USD), Silver (XAG/USD), US WTI Oil (USOIL), and UK Brent Oil (UKOIL). These instruments allow traders to trade in precious metals like gold and silver, as well as crude oil.
Pros and Cons
Account Types
Spread Bet:
Spread Bet account is one of the account types offered by Acetop. It provides a trading platform through MT4 and Mobile applications. The account requires a minimum deposit of £100/€150. The base currency for this account is GBP or EUR. It offers a wide range of products, including FX, indices, and commodities. The minimum trade size for this account is £0.10/€0.10, while the maximum trade size is £250/€250. The account also offers a free demo account for practice purposes. Additionally, tax-free profits can be generated with this account type.
CFD:
Acetop also offers the CFD account type. Similar to the Spread Bet account, it provides the MT4 and Mobile trading platforms. The minimum deposit required for this account is £100/$150/€150. The base currency options include USD, GBP, and EUR. The products available for trading in this account are spread equally between FX, indices, and commodities. The minimum trade size is £0.10/€0.10 or 0.01 lots, while the maximum trade size is 50 lots. Just like the Spread Bet account, a free demo account is available for traders to practice. However, tax-free profits are not mentioned as a feature of the CFD account.
Acetop also provides a demo account option, recognizing the importance of practicing trading before engaging in live trading. This feature caters to both beginners who require a learning platform and experienced traders who wish to refine their strategies. The availability of a demo account allows individuals to gain practical experience and confidence in trading without the risk of real financial loss.
Pros and Cons
How to Open an Account？
To open an account with Acetop, follow these steps:
Click on the “Create Account” button on the website.
Fill out the required fields marked with an asterisk, including your country of residence, title, first name, last name, email, mobile number, profile password, and confirm password.
Choose your consent options for receiving information from Acetop via email, phone, or post.
Confirm that you are over 18 years old and agree to Acetop Financial's Privacy Policy.
Finally, click on the “Submit” button to complete the account creation process.
Spreads
Acetop offers a range of spreads across different asset classes. With over 40 Forex instruments, the spreads start from 1 point. In the case of indices, there are 10 instruments available, also starting from 1-point spreads. Additionally, Acetop provides access to 5 commodities, where the spreads begin from 3 points. The spreads offered by Acetop vary depending on the asset class, allowing traders to choose the instruments that align with their trading strategies and preferences.
Minimum Volume
The minimum volume required for Spread Betting at Acetop is £0.50, while for CFDs, it is 0.01 lots.
Minimum Deposit
The minimum deposit required for both the Spread Bet and CFD accounts at Acetop is £100/€150. This deposit amount is necessary to open an account and begin trading.
Deposit & Withdrawal
DEPOSITS:
Bank Transfer: Acetop Financial provides a convenient option for depositing funds through bank transfers. You can deposit funds in GBP, USD, and EUR to our segregated client account. To ensure easy allocation of funds, please use your MT4 account number as the payment reference when making a bank transfer. The processing time for bank transfers is usually between 1-5 business days. Bank transfer deposits are free of charge.
Credit/Debit Cards: Acetop Financial accepts Visa, Mastercard, Maestro, and China Union Pay for depositing funds. Credit and debit card deposits are typically processed immediately, although there may be delays due to third-party verification and fund transfer processes. We accept card deposits in EUR, GBP, and USD only. Deposits made with a different currency may be automatically converted by the card provider, incurring additional charges and conversion fees. China Union Pay is currently available only for clients in China and Hong Kong.
E-Wallet: Acetop Financial supports depositing funds through e-wallets such as Skrill. Skrill deposits are usually processed immediately, but there might be transfer delays depending on Skrill's verification and fund transfer procedures. E-wallet deposits are free of charge. Acetop Financial accepts e-wallet deposits in GBP, EUR, and USD.
WITHDRAWALS:
Bank Transfer: For withdrawals, any funds originally sent via bank transfer or profits earned will be transferred back to a bank account in your name. Acetop Financial may request your bank statement for security purposes. The processing time for bank transfer withdrawals is typically 3-5 working days. While Acetop Financial does not charge any fees for withdrawals, bank charges from the correspondent bank may apply.
Credit/Debit Cards: Withdrawals through credit/debit cards (Visa, Mastercard) are available in GBP, USD, and EUR currencies. The processing time for credit/debit card withdrawals is usually 3-5 working days. Acetop Financial does not charge any fees for withdrawals, but bank charges from the correspondent bank may apply.
E-Wallet: Withdrawals can be made through Skirll, in GBP, USD, and EUR currencies. The processing time for e-wallet withdrawals is typically 3-5 working days. Acetop Financial does not charge any fees for withdrawals, but bank charges from the correspondent bank may apply.
Trading Platforms
Acetop Financial offers a range of trading platforms to cater to the diverse needs of its users. One such platform is MetaTrader 4 (MT4), a widely recognized and powerful trading platform. With MT4, users can conveniently access and participate in the world's leading financial markets. It provides an innovative and intuitive interface that enables seamless trading activities.
In addition to the MT4 desktop platform, Acetop Financial also provides mobile and tablet apps for iPhone, iPad, and Android devices. These apps are designed to offer users a high-quality trading experience on the go. By downloading the app, users can access their trading accounts and execute trades anytime and anywhere. The mobile and tablet apps ensure that users can stay connected to the financial markets, enabling them to seize opportunities and make informed trading decision.
Educational Resources
Acetop offers educational resources to assist individuals in learning about trading. These resources helps enhance and develop trading skills through a free education section. The provided tools and information are designed to support traders at every stage of their journey, offering guidance and knowledge on various aspects of trading such as spread betting, CFDs, and Forex. The educational materials cover basic information about each trading type, including spread betting, CFD trading, and Forex trading, explaining their mechanics and terms like spread, holding cost, and margin. Additionally, the advantages of trading Forex are also explored. Acetop's educational resources serve as a valuable source of information for those interested in expanding their trading knowledge.
Trading Hours
Acetop adheres to standard trading hours, which begin on Sunday at 10 PM and end on Friday at 10 PM. It's important to keep in mind that these hours may be subject to changes corresponding to daylight saving time adjustments in the UK.
Customer Support
Acetop offers customer support through various channels. Clients can reach out to the company's Client Service team via email at cs@acetop.uk or by calling the freephone number: +44 (0)800 955 1710. Support hours are from 7 am to 5 pm (UK time). For compliance-related matters, individuals can contact the Compliance department at compliance@acetop.uk. Marketing and PR inquiries can be directed to mkt@acetop.uk, while Human Resources matters can be addressed by contacting hr@acetop.uk. Please note that charges may apply when calling from outside of the UK.
Reviews
According to the reviews on WikiFX, Acetop has been exposed for its inability to withdraw funds. Users have reported instances of pyramid scheme complaints and difficulties in withdrawing their investments. Some users were asked to borrow large sums of money and faced issues when trying to withdraw their deposits. The platform has been accused of requesting various fees, including taxes and membership fees, hindering the withdrawal process. Additionally, there have been domain name changes, further raising suspicion about the platform's legitimacy. These reviews indicate a lack of trustworthiness and reliability associated with Acetop.
Conclusion
In conclusion, Acetop, a broker in the financial industry, operates without valid regulation, posing significant risks for potential investors. The absence of regulatory oversight exposes investors to potential fraudulent activities or unscrupulous practices. Acetop offers market instruments in Forex, Indices, and Commodities categories, allowing traders to speculate on exchange rates and market performance. However, according to reviews on WikiFX, Acetop has been criticized for difficulties in fund withdrawals, pyramid scheme complaints, and requests for various fees hindering the withdrawal process. These reviews highlight concerns about the platform's legitimacy and raise doubts about its trustworthiness and reliability. It is crucial for individuals to exercise caution and conduct thorough research before engaging with Acetop or any unregulated entity to protect their investments and financial well-being.
FAQs
Q: Is Acetop a legitimate broker？
A: No, Acetop operates without valid regulation, posing significant risks to investors.
Q: What market instruments does Acetop offer？
A: Acetop offers Forex, Indices, and Commodities instruments for trading.
Q: What are the spreads and commissions offered by Acetop？
A: Spreads start from 1 point for Forex, 1 point for indices, and 3 points for commodities.
Q: What is the minimum volume and deposit required at Acetop？
A: The minimum volume is £0.50 for Spread Betting and 0.01 lots for CFDs. The minimum deposit is £100/€150.
Q: How can I deposit and withdraw funds with Acetop？
A: You can deposit funds through bank transfers, credit/debit cards, or e-wallets. Withdrawals can be made via bank transfers, credit/debit cards, or e-wallets.
Q: What trading platforms does Acetop offer？
A: Acetop offers the MetaTrader 4 (MT4) platform for desktop, as well as mobile and tablet apps for iPhone, iPad, and Android devices.
Q: Does Acetop provide educational resources？
A: Yes, Acetop offers free educational resources to enhance trading skills and knowledge.
Q: What are Acetop's trading hours？
A: Acetop's trading hours are from Sunday 10 PM to Friday 10 PM (UK time), subject to daylight saving time adjustments.
Q: How can I contact Acetop's customer support？
A: You can contact Acetop's customer support via email or phone during specified support hours.
Q: What do the reviews say about Acetop？
A: Reviews indicate difficulties in withdrawing funds, pyramid scheme complaints, and suspicion about the platform's legitimacy.
2023-10-12 12:06
2023-10-11 11:33
