Reviewed broker: Accuindex
Established in 2016
Location: Cyprus, Mauritius, and the UAE
Regulation: CySEC, FSC Mauritius
Trading instruments: Currencies, Commodities, Indices, Stocks, Futures, Crypto
Trading Features and Conditions
Broker trading type: ECN, STP, Market Maker
Accuindex offers its clients an extensive selection of over 300 trading instruments including Forex, commodities, indices, metals, CFDs, and stocks. By providing a maximum leverage of 1:400, traders have the potential to maximize their profits while still maintaining effective risk management strategies.
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 tight and variable spreads for its trading accounts, with an average spread of 1.5 pips for EUR/USD in Forex trading, according to our research.
Additionally, the broker offers competitive spreads for CFDs and fast order execution, ensuring efficient and cost-effective trading solutions for its clients.
Types of accounts and their features
Executive Account
Minimum deposit: USD100
Spread: from 1.4
Commission: None
Leverage: 1:400
Trading Platform: MT5
Execution: Market execution
Account currency: USD
Minimum trade size: 0.01 for Forex and Metals
Stop out level: 20%
VIP Account
Minimum deposit: USD15 000
Spread: from 0.9
Commission: None
Leverage: 1:400
Trading Platform: MT5
Execution: Market execution
Account currency: USD
Minimum trade size: 0.01 for Forex and Metals
Stop out level: 20%
Pro Account
Minimum deposit: USD30 000
Spread: from 0.2
Commission: USD 60 per USD 1 million on FX
Leverage: 1:100
Trading Platform: MT5
Execution: Market execution
Account currency: USD
Minimum trade size: 0.01 for Forex and Metals
Stop out level: 100%
Trading instruments: +128 Instruments. Forex and Metals
Trading Platforms
Traders can use the out-of-the-box MT4/MT5 trading platforms. They are available as powerful desktop clients, lightweight web-based alternatives, and user-friendly mobile apps. Both fully support algorithmic trading and have embedded copy trading services. MT4 remains the most versatile trading platform with 25,000+ EAs, custom indicators, and templates. Accuindex provides MT4 for Windows devices, while MT5 is available on Windows and MacOS. Traders can use the mobile apps for both trading platforms on Android and iOS devices.
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.
Payment Methods
When evaluating brokers, the ease with which deposits and withdrawals can be made is another imperative factor to consider. The minimum deposit amount required to open a broker account with AccuIndex is $100 for the Executive Account, which is the broker’s standard retail account option. More advanced accounts will require a higher minimum deposit. The VIP account has a minimum deposit of $15 000 and the Pro Account has a minimum deposit of $30 000.
Withdrawals at Accuindex are easy and fast for clients. The processing time of withdrawals may differ based on the withdrawal method, but typically, it takes 24 hours.
How Withdraw Money from Accuindex Step by Step:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with necessary requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
Accuindex Education
Accuindex offers some educational materials through its Accu academy, as well as provides market news, and an economic calendar. However, we found that the broker does not provide comprehensive learning materials, seminars, or webinars, which are crucial for beginner traders.
Customer Support
Accuindex provides 24/5 customer support, but during my review, I could only interact with their chatbot during regular business hours. Therefore, I recommend e-mail support for non-urgent matters, and I appreciate the availability of phone support for urgent questions. The FAQ section offers limited answers to common issues.
