Acer Finance Review – Broker We Don’t Recommend
Acer Finance is a shady online brokerage that promises much, but only delivers disappointment and financial losses. This scam broker does not have an address, a company registry number, or a regulatory license – nothing. They do have a track record of defrauding brokers, and their scamming strategies have caught the eye of the Spanish financial regulator, an agency called CMNV.
Don’t be fooled by all the lies this fraud broker uses to attract their victims. Our Acer Finance Review will debunk these swindlers once and for all!
What’s more, we strongly recommend that you avoid the fraudulent broker’s Platin Markets and Monfex.
|Bonuses||20% – 30%|
Regulation and Fund Security at Acer Finance
There really is no concrete legal information on Acer Finance’s website. The website itself seems good enough, but there are sections that are not translated into English from Portuguese. This gives us a good starting point when searching for company credentials. Besides English, the website is also available in German, Italian, Spanish, French, Japanese, and Portuguese.
Most of these countries are in the EU, so let’s have a look at what an EU member state would require from their brokers:
- Starting capital higher than 730,000€
- The compensation policy of 20,000€
- Maximum leverage of 1:30
- Segregated bank accounts
- Negative balance protection
- Bonuses are banned
- Full transaction transparency in accordance with MiFID
Right off the bat, we can see that Acer Finance does not adhere to this framework. These safety nets have been imposed to protect the assets of the client, as well as the broker and the state. Acer Finance has an unsafely high leverage of 1:100, and there is no proof that they offer either a compensation scheme, negative balance protection, or segregated bank accounts to their clients.
We have checked the databases of the regulators that operate in the aforementioned nations. This includes UK’s FCA, German BaFIN, Italian CONSOB, Spanish CMNV, and French AMF, as well as Japanese JFSA and Portuguese CMVM. We weren’t surprised at all when it turned out that the Spanish CMNV had issued a warning about this scam site.
Trading Software Available at Acer Finance
There is only one trading platform with Acer Finance, and it’s Web Trader. We couldn’t access the trading platform Propper, because the trading aspect of the website is locked behind a paywall. So much for the demo account!
You will do well to remember that scammers mostly use Web Trader software to change the outcome of any trades. These web-based applications are not connected to the market, and all the information is streamed directly from the fraud’s server.
Of course, many regulated brokers also use the Web Trader, but not to a great extent. With licensed brokerages, these applications do in fact display the correct market data, but the limited nature of web trading leaves much to be desired. When choosing a broker, select one that uses the tried and tested MT4 or MT5 software.
Deposit and Withdrawal Methods
When it comes to funding methods with Acer Finance, the broker is as shady as it gets. The website advertises many secure payment methods, such as Bank Cards and Wire Transfers. The reality is quite different, unfortunately. The only deposit method available with Acer Finance is Cryptocurrency Transfer.
We can see the scam in action when we read the Withdrawal Policy in the Legal Documents on the website. In order for a withdrawal to be approved, the client must fulfill a trading volume that is greater than 25x of the deposited amount of +any bonus received.
This is quite impossible, as the minimum deposit is 250€ and the trading application is rigged for loss. Furthermore, the withdrawal processing time is 5 work days, and a client must print, fill out and send the withdrawal form by mail to an address that the company does not disclose.
Acer Finance Account Types
Acer Finance has 3 main account types, which the scammers say are optimized for 3 different trading skill levels. There is no demo account, and as far as we know, a swap-free Islamic account is not available either.
These are Acer Finance’s account types:
- Standard – min deposit 250€, leverage 1:100, spread starts at 0.13Pips
- Business – min deposit of 1,000€, zero commission
- Investor – min deposit 1,500€, personal advisor available
As far as scam websites go, this one doesn’t rip you off with their minimum deposit requirements. Other trading conditions seem great, but we need to remember that Acer Finance is an unregulated broker. We have already caught them red-handed in lies, so why take the risk?
|Broker||Acer Finance||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
How Was the Fraud Carried Out
It is not difficult to imagine why people would be attracted to this scam broker. Low investment costs, and tight spreads with zero commission? It sadly is too good to be true. Scammers like Acer Finance use anonymity to cover their tracks.
There is no company information anywhere on the site, the only means of contacting the broker is through a contact form on the website, and they only accept Crypto transfers.
Frauds use their trading platform to falsify the market data and make it so that the client loses their investment. If somebody tries to pull the money out – too bad. The Terms & Conditions have some very shady clauses that make the client ineligible for a withdrawal.
The Best Forex Brokers
We have compiled a list of some of the best brokers in the industry, for comparison sake. These companies all have clean track records and offer some of the best pricing in the market. Brokerages on our list all use reliable trading software and have a demo account that lets you test your business strategy.
With some of these brokers, you can begin trading with as little as $5. High-quality education materials are provided for your convenience, and excellent customer support teams are there to help you with any problems on your way.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Acer Finance Summary
Acer Finance is an anonymous scam broker. Spanish CMNV has issued a scam warning about this group’s behavior. The swindlers lie about excellent pricing and great market conditions to attract their victims.
Scammers hide behind anonymity, and abuse cryptocurrency transfers to further cover their tracks. The web platform these frauds use is rigged to squeeze as much money as possible from their clients. Withdrawals are handled in a shady manner as well and require meeting some nigh impossible conditions.
FAQs About Acer Finance Broker
What Account Types Does Acer Finance Offer?
Acer Finance offers 3 main account types to their traders: Standard, Business, and Investor. These do not include a demo or an Islamic account.
What Is The Minimum Deposit at Acer Finance?
The minimum deposit with Acer Finance Scam is 250€.
Can I Trust Acer Finance Broker?
Do not trust Acer Finance! This is an unregulated anonymous company that has been blacklisted by CMNV!