NOTE: ACE FXs official site - https://fxace.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is ACE FX？
ACE FX is a broker registered in the UK and founded in 2021. It provides its clients with a web-based trading platform, leverage up to 20:1, competitive spreads with no commissions on a variety of tradable assets, as well as 24/7 customer support service. However, it operates without valid regulation. And the official website is non-functional currently.
Pros & Cons
Pros:
Diverse Market Instruments: ACE FX offers a range of tradable assets, including Forex, Shares, Indices, and Commodities, providing traders with various options to diversify their portfolios.
Cons:
No Regulation: ACE FX operates without regulatory oversight, which can increase the risk for traders due to potential lack of consumer protection and oversight.
Non-functional Website: A non-functional website can be frustrating for traders, as it suggests issues with accessibility, reliability, or security.
Limited Information: The lack of detailed information about ACE FX, such as trading conditions, company background, and fee structure, can make it difficult for traders to assess the platform's credibility and make informed decisions.
Is ACE FX Safe or Scam？
Determining whether ACE FX is safe or a scam requires thorough research and consideration of several factors.
As of now, ACE FX operates without regulation, which is a significant red flag. Regulation is important as it provides a level of oversight and protection for traders, ensuring that the broker follows certain standards and practices. Additionally, the lack of detailed information about ACE FX, such as its background, ownership, and trading conditions, raises concerns about transparency and legitimacy. A non-functional website further adds to these concerns, as it suggests issues with the broker's operations and reliability.
Market Instruments
ACE FX offers a variety of market instruments for trading. These market instruments provide traders with a diverse range of options to trade based on their preferences and market outlook.
Forex: Trade major, minor, and exotic currency pairs in the global foreign exchange market.
Shares: Trade shares of publicly-listed companies from around the world.
Indices: Trade on the performance of a group of stocks, representing a particular market or sector.
Commodities: Trade commodities such as gold, silver, oil, and agricultural products.
Leverage
ACE FX offers leverage of up to 1:20 for traders. Leverage allows traders to control a larger position in the market with a relatively smaller amount of capital. While leverage can amplify profits, it also increases the potential for losses
Spreads & Commissions
ACE FX claims that it offers its clients tight raw spreads from 0.0 pips and all charging no commissions. In particular, the spreads for EUR/USD, AUD/USD and NZD/USD are floating around 0.01 pips, while the spread for GBP/USD is floating around 0.04 pips.
Trading Platforms
When it comes to trading platforms available, instead of the industry-standard MetaTrader4 and MetaTrader5 platforms, ACE FX gives traders a web-based platform, which has the basic features for placing orders, customizing charts and application of technical indicators. However, compared with the worlds most widely-used MT4 and MT5 trading platforms, it lacks more advanced functionality.
Deposits & Withdrawals
ACE FX says to accept deposits and withdrawals via credit cards like Visa and MasterCard, however, the only available payment option is Bitcoin. The minimum deposit requirement is $500. According to the terms of its official website, withdrawals can be made 30 days after deposit, while no more specifically involved.
Customer Service
ACE FX provides customer support via telephone at +44 37 3700 0012 and email at support@fxace.com. Traders can reach out to customer support for assistance with account-related queries, technical issues, and general inquiries.
Conclusion
In summary, ACE FX is a new brokerage firm offering a web-based trading platform with leverage up to 1:20 and competitive spreads on Forex, Shares, Indices, and Commodities. However, ACE FX operates without regulation, and its website is currently non-functional, which impacts its reliability and transparency. It is strongly recommended to avoid using ACE FX and opting for a regulated and reputable broker.
Frequently Asked Questions (FAQs)
Q: Is ACE FX regulated？
A: No, ACE FX operates without any regulation.
Q: What trading instruments does ACE FX support？
A: ACE FX offers trading in Forex, Shares, Indices, and Commodities.
Q: What leverage does ACE FX offer？
A: ACE FX offers leverage up to 1:20.
Q: What trading platform does ACE FX use？
A: ACE FX uses a web-based trading platform.
Q: Does ACE FX offer a demo account？
A: No, ACE FX does not offer a demo account.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
