Welcome to our Ace FX Pro review regarding the website at acefxpro.com.
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On September 30, 2023, we received the following complaint:
I lost my funds in Ace FX Pro. How can I recover them? Please help me.
So what exactly is Ace FX Pro, and is it a SCAM?
Acefxpro.com was registered through GoDaddy on January 17, 2019. It was last updated on January 18, 2023. Domains By Proxy protects it, while Amazon.com hosts it.
According to SimilarWeb, AceFxPro is a Portsmouth, United Kingdom company with 11-50 employees. It is ranked at 9,293,620 globally, and in September 2023, it received 11.5K visits from Turkey, India, Vietnam, the United States, Namibia, the United Kingdom, and other countries.
Its SEMrush Authority Score is 9%, with 552 backlinks from 120 referring domains.
A Critical Review of AceFx Pro’s Website Content
AceFx Pro presents itself as a comprehensive trading platform, emphasizing its capacity to cater to traders’ various needs, from education to execution. The website promotes a structured progression for traders, offering a demo account to acquaint users with CFD trading before they engage in actual transactions. With a fully customizable MT5 platform, traders can access various charting and trading tools to optimize their trading experience.
The website elucidates its offering of different account types, each with distinct features such as various deposit requirements, spreads, and leverages. The platform’s transparency is also accentuated, proclaiming an absence of price manipulations and requotes, thus promising a genuine trading environment.
While the offerings seem appealing, certain elements necessitate critical evaluation. Firstly, the website emphasizes high leverage, which, although attractive, carries substantial risks, especially for inexperienced traders. It seems like this aspect is somewhat downplayed, given the inherent risks associated with high-leverage trading.
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Furthermore, the regulatory aspect raises some questions. The platform is registered by St. Vincent and the Grenadines’s Financial Services Authority (FSA). While this is a form of regulatory adherence, potential users might want to assess the robustness of this jurisdiction in safeguarding their interests compared to more established regulatory bodies.
A Critical Review of AceFx Pro’s Account Types
AceFx Pro delineates three distinct trading account types on its platform: Standard, Ultimate, and Pro. Each account varies regarding deposit requirements, spreads, leverages, and instrument accessibilities.
- Deposit: $200
- Leverage: Up to 1:500
- Instruments: CFDs and Metals
- Deposit: $10,000
- Leverage: Up to 1:100
- Instruments: CFDs, Metals, Indices, and Cryptocurrencies
- Deposit: $3,000
- Leverage: Up to 1:200
- Instruments: CFDs, Metals, and Indices
The website also includes information on swap-free accounts for Muslim clients, cross-device trading, one-click trading, hedging, stop-out levels, and applicable commissions on the Pro and Ultimate accounts.
The Standard account, with a lower deposit requirement and higher leverage, seems more accessible but carries significant risk due to the high leverage.
While there is a generic risk warning, a more tailored discussion on the risks associated with each account type, especially considering the high leverages, would enhance risk awareness.
AceFxPro Promotions Overview
AceFxPro offers various promotions to enhance the trading experience of its users, providing different bonuses based on various conditions and activities.
However, remember that a specific trading volume (lot size) must be reached before the withdrawal of Bonuses. The calculation to determine the required trading volume includes the Bonus and deposit amounts.
Moreover, certain trades, like scalping and hedged trades, are not counted toward calculating the required trading volume.
Bonuses are valid for 180 days from the date of issuance, after which they may be removed if certain conditions are not met.
Profits up to the Bonus amount can be withdrawn without affecting the Bonus, but specific conditions apply when withdrawing the initial deposit or profits exceeding the Bonus amount.
Bonuses may be removed from inactive accounts or accounts that have exhausted deposited funds.
In short, the bonus terms seem a bit convoluted and restrictive, which might make it challenging for traders to withdraw profits made from trading bonuses.
AceFxPro FAQ Summary
- AceFxPro is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines.
- Offers ECN pricing sourced from top-tier banks and non-bank institutions.
- Deposit and Withdrawal: Options include Credit/Debit Cards, Cryptocurrencies, Wire Transfers, and Local Banks. Withdrawals typically revert to the source of the deposit.
- Minimum Account Size: $200 USD or equivalent in HKD/INR.
- Spreads: Variable due to ECN pricing. Live market spreads can be viewed through a demo account.
AceFxPro: Company Overview
According to their About page, AceFxPro is a company rooted in strong ethics and values, always aiming to serve clients with their best interests in mind.
Specializing as a CFD broker since 2015, AceFxPro offers many trading options, allowing customers to leverage trades across CFDs, indices, commodities, shares, and cryptocurrencies. They prioritize allowing traders to generate returns on rising and falling market prices.
It claims to have a strong global network with offices and support centers spread across Europe, the Middle East, and Asia, reflecting its expansive reach and commitment to being accessible to its clients.
AceFxPro: Contact Information
For immediate assistance or queries, AceFxPro offers online help. You can interact with live chat assistants available on their platform.
Customers can directly contact AceFxPro through their hotline at +971 600 521 677. (A United Arab Emirates number.)
Those preferring a face-to-face inquiry or discussion can visit their office located at:
101, Khalid Bin Waleed Rd, Dubai, United Arab Emirates
There’s a form available for specific queries or help in creating an account.
AceFxPro operates under the trading name of Ace Global Limited and is registered by the Financial Services Authority (FSA) of St. Vincent and the Grenadines with Registration No 25492 BC 2019.
Social Media Analysis
- AceFxPro has an official YouTube channel with 657 subscribers and 37 videos.
- The channel indicates that its location is in India.
- For business inquiries, an email address (email@example.com) is provided.
- The channel joined YouTube on August 21, 2020.
- It has garnered a total of 30,565 views.
- Video views range from as low as 16 to as high as 8.1K views.
- The videos include various tutorials and guidelines, such as how to navigate financial markets, different types of trading accounts, and using MetaTrader 5.
- They also have customer reviews in different languages like English, Hindi, and Tamil.
- Webinars and detailed discussions like earning a second source of income through trading are also part of their content.
- Their video timeline shows that they have consistently uploaded content over the years, with the oldest video dating back 3 years.
- Posts: 708
- Followers: 7,302
- Following: 551
- Hashtags: #Bulls, #bears, #aces, and others related to forex and trading.
- Name: AcefxPro
- Type: Financial Service Page
- Location: Suite 305, Griffith Corporate Centre Kingstown, London, United Kingdom
- Contact: +44 20 3504 0306, firstname.lastname@example.org
- Socials & Website: Various usernames are listed with a direct link to their official website.
- Likes: 32K
- Followers: 33K
- Username: @Acefx_Pro
- Occupation: Financial Services
- Location: London
- Join Date: May 2020
- Followers: 89
- Following: 28
- Post Count: 384
- Posts Overview: Posts offer insights into different aspects of trading, such as derivatives, position sizing, and risk management techniques. Provides a market calendar to help followers plan their trades and stay updated on key market dates. Content related to trading inspired by figures like Mahatma Gandhi and quotes from significant personalities like Warren Buffet. Posts encouraging followers to seize trading and investment opportunities through Acefx Pro’s platform with links to register and start trading. Encourages followers to think and reflect on various aspects of trading, implying a level of engagement with the audience.
Ace FX Pro Reviews
On Google, we find several relevant articles:
- Trustpilot: The company has responded to 88% of negative reviews.
- WikiFX: The platform has a low rating of 1.4 out of 10 based on 9 reviews. ForexPeaceArmy: Labels AceFxPro as a major scam broker, advising people to avoid the company.
- Minton Block: Mentions that AceFxPro is an unregulated offshore broker, hinting at it being a scam.
- Tokenhell, TheForexReview, Topedgefx: Various platforms hint at or directly label AceFxPro as a scam or unlicensed broker.
- Complaints Board: Indicates that users have had issues withdrawing their investments, implying a potential scam.
AceFxPro has a TrustScore of 4.5 out of 5 on Trustpilot, with a total of 758 reviews. 76% of the reviews are rated 5-star, and only about 10% are 1-star reviews. Focusing specifically on the 1-star reviews that are verified, there seems to be a shared sentiment of dissatisfaction and mistrust towards the company.
One customer, Jyothesh K, warns potential clients by declaring the company fraudulent and operating without a license in India, predicting its imminent shutdown. He also named specific account managers as being part of the fraudulent activities.
Another customer, Janakiraman Ganesan, expressed frustration with the withdrawal process, stating that his withdrawal requests were continuously rejected, and the company became unresponsive. The lack of communication and the inability to withdraw funds made the customer label the company as a scammer.
Ravi Chandran shared a similar sentiment, emphasizing a feeling of betrayal after investment. He highlighted that the company coerced him into leaving a good review and had issues when trying to withdraw funds.
Xavier D. Pancras had a more detailed complaint, explaining his initial success and eventual disillusionment with the company. He mentioned facing continuous problems with withdrawals and a lack of transparent communication. Pancras also discussed how account managers seemed manipulative and unresponsive over time, expressing his intention to take legal action if the issues were unresolved.
In summary, the critical verified reviews primarily emphasize the company’s perceived fraudulent nature, issues with the withdrawal of funds, lack of transparency, and unresponsiveness from account managers at AceFxPro. These reviewers express a strong sense of regret and caution potential investors against getting involved with the company.
Here is a summary of the critical reviews for the service:
- KeeKrish expressed strong dissatisfaction, labeling the broker as a “200% Scam Broker.” The user faced continuous issues with withdrawal requests being rejected despite multiple attempts over two years, urging others to stay away.
- FX1209195434 criticized the broker for having an unreasonable minimum deposit of $200, especially since it’s an offshore and unregulated broker. Identifying as an experienced trader, this user preferred legit brokers requiring less deposit.
- FX1187719021 expressed skepticism due to the company being registered in Saint Vincent and the Grenadines, creating doubts about the company’s legitimacy and location, thus discouraging dealings with such a company.
- 温温 voiced disappointment for not receiving trading signals after depositing $500, even after two weeks. The account manager was also noted as unresponsive, adding to the user’s frustration.
Each user appears to express disappointment, mistrust, and dissatisfaction, predominantly highlighting issues like unresponsiveness, withdrawal problems, and questioning the broker’s legitimacy and operational transparency.
The reviews for AceFxPro are predominantly negative, citing issues primarily related to the withdrawal of funds and alleged deceptive practices by the company. Here is a summary of the critical reviews:
- Withdrawal Issues: Multiple users have reported significant challenges in withdrawing funds from their accounts. Some have waited for years, and withdrawals still haven’t been approved.
- Alleged Scam: Reviewers have outright labeled AceFxPro as a scam. They claim that the company provides incorrect information, urging continuous investment, and then seemingly disappears when users attempt to withdraw their funds.
- Poor Customer Support: Users mentioned that the company was responsive and communicative before making deposits. However, after depositing, the support team became unresponsive, and account managers were accused of ignoring or not adequately addressing client queries or concerns.
- Manipulative Practices: Some users felt that the company manipulated their accounts or provided misleading guidance leading to losses. Accusations also include the company employing high-pressure tactics to encourage more significant investments.
- Targeting Specific Regions: A few reviewers felt that the company primarily targeted individuals in specific regions like Tamil Nadu, India, who were employing fraudulent tactics to mislead investors.
- Questionable Authenticity: Concerns were raised about the genuineness of the company’s operations. Some users felt that the company’s addresses seemed fake, and the overall operation seemed dubious.
AceFX Pro presents a dichotomy of impressions. On the one hand, its robust digital presence, structured offerings, and a series of comprehensive tools and facilities speak of a well-thought-out service. The details provided, such as different account types, bonuses, and educational resources, show an attempt to cater to a broad spectrum of traders. It aims to project transparency and customer-centricity, with a purported focus on ethical practices and value-driven service.
However, a closer examination reveals areas of concern that cannot be overlooked. The predominant issue lies in the various user reviews and complaints that highlight significant difficulties, particularly concerning the withdrawal of funds. Despite having a substantial digital footprint and positive ratings on platforms like Trustpilot, the pervasiveness of negative experiences shared by users, emphasizing lack of transparency, unresponsiveness, and allegations of manipulative practices, cast a shadow over AceFX Pro’s credibility.
Furthermore, the regulatory aspect presents another layer of ambiguity. Registering with the Financial Services Authority (FSA) of St. Vincent and the Grenadines offers a veneer of regulatory adherence, but potential investors might remain circumspect about the robustness of such jurisdiction in safeguarding their investments.
In navigating the landscape of online trading platforms, due diligence is paramount. Prospective users must exercise caution, seeking to corroborate the information presented by the platform with their independent research and risk assessment.
The realm of online trading is fraught with uncertainties and potential risks; thus, a thoughtful and well-informed approach becomes essential in making investment decisions. We hope this review is a valuable tool in your investment journey, promoting informed and prudent decision-making.
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