Read our Acer Finance review to see if this broker is a scam or legit. Just to clear doubts, this is a acerfinance.co review.
Acer Finance Review
Gone are the days when you had to step out of your home to trade in the financial markets. These days, they are right at your fingertips and all you have to do is open an account with an online broker. It all sounds so simple and it really is, as long as you are able to find the right brokerage. This task is the real challenge that most people encounter because even though there is no shortage of companies offering their services. It is due to the fact that not all brokers are legitimate, as this ACER FINANCE will show.
Even though they come off as just as good as the next company, you will find that scammers are quite prevalent in the financial markets. Obviously, they do not want you to know what they really are, so they disguise themselves by presenting a good front. It does not mean that they can change their true nature because at the end of the day, they will still be after your money. The only way you can figure things out is by doing a complete evaluation of their services because that will tell you the truth.
Many people do not bother asking this question and have to learn their lesson the difficult way. Unless you do not mind losing your hard-earned money, it is a good idea to evaluate a brokerage to ensure it is not a scam and can offer you genuine services for trading in the financial markets. On the surface, you may not be able to distinguish between a scam and genuine brokerage, but the evaluation of their offerings will show you just what may be wrong with the broker.
This strategy will undoubtedly give you results in the case of ACER FINANCE that goes to great lengths to convince people that it is a reliable and legitimate brokerage. As per its website, it is regulated in a number of countries, including the UK and is offering access to more than 150 trading instruments, including forex pairs, energy, indices, shares, crypto coins and soft commodities. It sounds like just the platform you need, but you have to evaluate its offerings before you make a decision.
The evaluation will show that ACER FINANCE has a number of flaws that show it is not a company that you can trust. Why? You can find out as follows:
No licensing and regulation
Online brokers need to obtain a license in the jurisdiction they are based in for offering their services. While unregulated brokers also existed, it is better to opt for regulated ones because it adds a layer of security. You can expect them to offer services of a certain standard and they can also be held liable for any issues you may have later on. Moreover, they can provide security and transparency during the trading process, which is what every trader wants.
But, this does not mean that you just accept any broker’s claims of licensing and regulation. They need to be verified because anyone can claim anything over the internet, which is what ACER FINANCE does. According to its website, it is regulated almost everywhere. It claims that it is licensed in the UK by the Financial Sector Conduct Authority (FSCA) and this itself is a problem. Why? This is because the regulatory body of the UK is the Financial Conduct Authority (FCA) and not the FSCA.
The latter is the regulatory organization in South Africa and you can search its online register for ACER FINANCE, but not find the brokerage listed. Apart from that, you will also find that the company claims to have its offices in Germany, China, France and even Australia and it claims to have licenses from regulatory authorities like KNF, FCA and even CMB. However, all of these are just claims because when you try to verify them, you will not find ACER FINANCE listed in the registers of any of these regulatory bodies.
A regulatory warning
In fact, you will find that things get worse with ACER FINANCE because when you run the broker in the register of the Financial Conduct Authority (FCA) in the United Kingdom, you will find that they have actually posted a warning about it. Indeed, the brokerage has been blacklisted by the regulatory body, which states that it is offering its services illegally in the jurisdiction.
This means that not only is ACER FINANCE not regulated and licensed, it is lying about it as well and since a regulator has warned about it, then you cannot trust it at any cost.
Lack of trading platform
To execute your trades in the market, you require a trading platform and the broker you choose has to give you one. Of course, the platform you are given can vary from company to company, which is understandable. In the case of ACER FINANCE, you are promised an award winning trading platform and it has even mentioned the MT5, which will certainly impress you.
However, all of this is just a way to mislead people because you will find that ACER FINANCE does not really have a functional trading platform. Instead, they take you to a funny looking dashboard after you complete your registration where you cannot do any trading. The only option you have is to make a deposit and since ACER FINANCE is only interested in your money, it does not come as a surprise.
Lies about payment methods
When you check the payment methods that are supported at ACER FINANCE, you will be impressed with the variety they seem to have. It claims to let you make deposits via PayPal, Neteller, VISA, MasterCard, Skrill and bitcoins.
In reality, the only option that ACER FINANCE offers you is bitcoins and this is also what you will expect at this point because it is apparent that the company is up to no good. You can only make crypto transactions that cannot be refunded because the payments are final and do not come with a chargeback option.
The Verdict
The evaluation of the offerings at ACER FINANCE make it clear that it is a scam broker that you cannot trust.
