ACT Markets Forex Broker

Information Details Company Name Act Markets Registered Country/Region Nigeria Founded in 2-5 years Regulation Not regulated Tradable Instruments Trade financial instruments including FX, Indices, Metals, Energies, Equities, and Crypto currencies Trading Platforms MetaTrader5 Minimum Deposit $5 Maximum Leverage 1:1000 Account Types Micro Account, Variable Account, and VIP Account Spreads From 0 pips Commission Not mentioned Deposit & Withdrawal Methods VISA, MasterCard, Flutterwave, Paystack, Quickteller, OnlineNaira, UBA, and BANK WIRE Education Educational Videos, Webinars, Videos Tutorials, and Forex News Customer Support Phone, email, and social media Bonus Program Yes Overview of Act Markets ACT Markets is a forex broker from Nigeria, operated by Alpha Cosmos Trading Markets. Unfortunately, there is zero evidence that this company is an officially regulated broker. So, this leaves us with no choice but to conclude that it is dangerous to trust a broker like ACT Markets. Act Markets offers a range of tradable instruments, including FX (Foreign Exchange), Indices, Metals, Energies, Equities, and Cryptocurrenciesthrough the popular MetaTrader5 trading platform. The broker offers multiple account types, including Micro Account, Variable Account, and VIP Account with the minimum deposit requirement of only $5. Act Markets provides a maximum leverage of 1:1000, offering traders the potential to amplify their positions. The spreads offered by Act Markets start from 0 pips, while the commission structure is not explicitly mentioned, so it is advisable for prospective clients to clarify this aspect with the broker directly. For deposit and withdrawal transactions, Act Markets supports various methods, including VISA, MasterCard, Flutterwave, Paystack, Quickteller, OnlineNaira, UBA, and BANK WIRE. In terms of customer support, Act Markets provides assistance through phone, email, and social media channels. Act Markets offers a bonus program, providing additional incentives for traders. As with any investment decision, traders should conduct thorough research, consider their individual circumstances, and exercise caution when choosing a broker like Act Markets. Is Act Markets legit or a scam？ ACT Markets is currently not regulated, which could be a point of concern for traders who prioritize regulatory oversight. It is crucial for prospective clients to thoroughly evaluate the implications of trading with an unregulated broker and consider their risk tolerance accordingly. Regulatory oversight provides certain protections and ensures that brokers adhere to specific standards and regulations, such as segregation of client funds and maintaining appropriate risk management practices. Traders should carefully assess the potential risks and benefits before deciding to trade with an unregulated broker like ACT Markets. Pros and Cons ACT Markets has some advantages and disadvantages for traders to consider. It offers a wide range of trading instruments and operates on the popular MT5 trading platform. It provides multiple account types to accommodate diverse trading needs, and traders can enjoy a low minimum deposit requirement of just $5. The broker also offers generous leverage of up to 1:1000, allowing traders to amplify their trading positions. Additionally, ACT Markets provides various payment methods, low spreads starting from 0 pips, and access to free educational materials. However, it is important to note that ACT Markets lacks specific regulation, has limited educational resources, and does not offer 24/7 customer support. Pros Cons Wide range of trading instruments available No specific regulation MT5 trading platform Limited education resources Low minimum deposit requirement of only &5 No 7/24 customer support Generous leverage up to 1:1000 Multiple account types to suit different needs Bonus available Free education materials Low spreads from 0 pips Various payment methods Market Instruments ACT Markets is a versatile forex broker that offers a wide range of options to cater to traders' preferences. They provide an extensive selection of trading instruments, including Cryptocurrencies, Commodities, Indices, Shares, Forex, and ETFs. This diverse range allows traders to explore different markets and diversify their trading strategies effectively. Minimum Deposit ACT Markets offers three account types with a minimum deposit starting at $5, and they also accept deposits in local Nigerian currency. However, it is important to note that there are concerns about the safety and reliability of registering real trading accounts on the ACT Markets platform. It is advisable to exercise caution and thoroughly research the platform, including reviews and feedback from other traders, before making a decision to open an account. It is crucial to prioritize the security and integrity of your funds when choosing a trading platform. Account Types ACT Markets offers three types of trading accounts to cater to different trading preferences and experience levels: 1. Micro Account The Micro Account is designed for traders who prefer to start with a small deposit. With a minimum deposit requirement of only $5, it offers accessibility to a wide range of traders. The spreads for the USD/NGN currency pair start from 2.5 pips, providing competitive pricing. Traders can benefit from leverage of up to 1:1000, allowing them to amplify their trading positions. The Micro Account supports trading in major currency pairs, minors, crosses, indices, energies, and metals. 2. Variable Account The Variable Account is suitable for traders who are looking for tighter spreads and have a slightly higher initial investment capacity. The minimum deposit requirement for the Variable Account is $100. It offers spreads for the USD/NGN currency pair starting from 1.5 pips, providing more competitive pricing compared to the Micro Account. Traders can access leverage of up to 1:500, allowing them to trade larger positions. Like the Micro Account, the Variable Account allows trading in major currency pairs, minors, crosses, indices, energies, and metals. 3. VIP Account The VIP Account is the premium account type offered by ACT Markets. It caters to high-volume and experienced traders who require the tightest spreads and additional trading instruments. The minimum deposit requirement for the VIP Account is $500. It offers spreads for the USD/NGN currency pair starting from 0 pips, providing the most competitive pricing among the account types. Traders can access leverage of up to 1:500. In addition to major currency pairs, minors, crosses, indices, energies, and metals, the VIP Account also allows trading in EU and US equities, expanding the range of available tradable instruments. How to Open an Account？ To open an account with ACT Markets, please follow the steps below: 1. Visit the ACT Markets website: Go to https://actmarkets.com/. Look for a prominent button or link on the website's homepage that says “Open an Account”. Click on it to proceed. 2. Choose the account type: ACT Markets may offer different types of trading accounts, each with its own features and requirements. 3. Fill in the registration form: You will be directed to a registration form where you need to provide your personal information. This typically includes your full name, email address, phone number, country of residence, and sometimes additional details. 4. Read and agree to the terms and conditions: Carefully read through the terms and conditions or client agreement provided by ACT Markets. Make sure you understand and agree to the terms before proceeding. 5. Submit your application: After completing the registration form and agreeing to the terms and conditions, click on the “Submit” or “Create Account” button to send your application to ACT Markets. 6. Verification process: In some cases, ACT Markets may require you to verify your identity and address by providing supporting documents. 7. Fund your account: Once your account has been approved and verified, you can proceed to fund your trading account. ACT Markets usually provides multiple deposit methods, such as bank transfers, credit/debit cards, or electronic payment systems. After your account is funded, you can access the trading platform provided by ACT Markets. Leverage ACT Markets provides a generous leverage of up to 1:1000 for traders. It is important to highlight that while high leverage can potentially amplify profits, trading with an unregulated broker offering such high leverage may not be the ideal choice. Traders should exercise caution and consider the associated risks, as leverage can magnify both gains and losses. It is advisable to trade with regulated brokers that adhere to industry standards and provide a secure trading environment. Spreads &Commissions Different trading accounts offer varied trading conditions. Spreads on the Micro account start from 2.5 pips, and from 1.5 pips, 0 pips in the Variable account and the VIP account. However, it's important to note that different brokers may offer different spreads depending on their business model, and it's always essential to compare the spreads of different brokers before deciding on one. Bonus ACT Markets offers two types of bonus calculation：50% Bonus and 100% Bonus + CashBack. 100% Bonus + CashBack This 100% Bonus + Cashback offer is now available to new and existing Clients who deposit or re-deposit into their Live Variable trading account with Act Markets. With the 100%, Bonus and Cashback offer ACT Markets will deposit 100% credit into the trading account of the Client, subject to the terms and conditions below. How to apply for a 100% Bonus on Deposit: Proceed with a fresh or new registration. Verify your account by providing a valid POA and POI. Fund your Variable with a minimum of $1000. Request your 100% welcome bonus via email: info@actmarkets.com Receive your bonus automatically within 24hrs. Existing clients will need to create a new Variable account and contact their account managers to request the bonus. Get 50% Bonus on Deposit ACT Markets leads by example! We do this by demonstrating the value that the company places on its clients, ACT Markets is pleased to offer an exclusive 50% Bonus, offering up to $1500 free trading funds to both new and existing clients. Our traders can now strengthen their trading experience with this Bonus simply by depositing a minimum of USD 250. How to apply for a 50% Bonus on Deposit: Proceed with a fresh or new registration. Verify your account by providing a valid POA and POI. Fund your Variable with a minimum of $250. Request your 50% welcome bonus via email: info@actmarkets.com. Receive your bonus automatically within 24hrs. Existing clients will need to create a new Variable account and contact their account managers to request the bonus. Trading Platforms ACT Markets offers the MT5 trading platform. MetaTrader5 (MT5) is a comprehensive and user-friendly trading platform that caters to a variety of trading goals. It offers a wide range of features and advanced trading tools, empowering traders with total control over their trades. With MT5, traders can enjoy an enhanced trading experience, benefit from superior support, and access a multitude of options designed to meet their specific needs. Deposit & Withdrawal When it comes to deposit and withdrawal payment methods, ACT Markets offers a variety of options to fund and withdraw from your trading account. These include VisaCard, MasterCard, Flutterwave, Paystack, Quickteller, Onlinenaira, UBA, and Bank Wire. ACT Markets emphasizes that they do not charge any commissions on deposits and withdrawals, allowing traders to enjoy the full amount of their transactions. This feature can be beneficial for traders seeking cost-effective deposit and withdrawal processes. Customer Support Customer support team at ACT Markets is ready to provide assistance to clients. Traders can reach out to its support team through various channels. Its address is 816 Ahmadu Bello Way, Central Business District Abuja, Nigeria. For general inquiries and client support, you can contact it via email at info@actmarkets.com. If you are an Introducing Broker (IB) or have partnership-related inquiries, email it at partners@actmarkets.com. Alternatively, you can also contact its support team directly at +23497000064 during business hours, Monday to Friday from 8:00 am to 5:00 pm. It claims to respond to all inquiries within 24 hours on business days. Educational Resources ACT Markets offers a range of educational resources to support traders in their learning and development. These resources include: Educational Videos: ACT Markets provides educational videos that cover various topics related to trading, technical analysis, risk management, and more. These videos are designed to enhance traders' knowledge and understanding of the financial markets. Webinars: The broker conducts webinars on a regular basis, featuring industry experts who share insights, strategies, and market analysis. Traders can participate in these webinars to expand their understanding of trading concepts and stay updated with the latest market trends. Video Tutorials: ACT Markets offers video tutorials that guide traders through different aspects of trading, including platform navigation, order placement, chart analysis, and more. These tutorials are helpful for both beginner and experienced traders in mastering the platform and refining their trading skills. Forex News: ACT Markets provides access to up-to-date forex news and market analysis. Traders can stay informed about economic events, market trends, and important news releases that may impact their trading decisions. This information helps traders make more informed and timely trading choices. Conclusion ACT Markets is a trading firm that offers a range of features and services to traders. With a wide selection of tradable instruments and the use of the popular MetaTrader5 platform, ACT Markets provides a user-friendly trading experience. The broker offers multiple account types to cater to different trading preferences, with low minimum deposit requirements and competitive spreads. Traders can benefit from generous leverage options and access to various payment methods. ACT Markets also provides educational resources, including videos, webinars, and tutorials, to support traders in their learning journey. However, it is important to note that ACT Markets lacks specific regulation and does not offer 24/7 customer support. Traders should consider these factors and conduct thorough research before engaging with the broker. FAQs Q: What leverage is applied to my account？ A: Leverage available for Act Markets trading accounts is up to 1:1000 depending on the account type. Q: What is the minimum funding requirement to open an account？ A: The Micro Account is designed for traders who prefer to start with a small deposit. With a minimum deposit requirement of only $5. Q: How can I deposit funds into my account？ A: It offers a variety of deposit options, including VisaCard, MasterCard, Flutterwave, Paystack, Quickteller, Onlinenaira, UBA, and Bank Wire. Q: What is the spread？ A: Spreads on the Micro account start from 2.5 pips, and from 1.5 pips, 0 pips in the Variable account and the VIP account.