AKDForex Review & Ratings - Forex Broker

AKDForex Review

Excellent trading platform
Favorable trading fees

Narrow array of tradeable assets
Offshore trading brokerage
Not very secure and no viable reputation
Poor customer support

AKD Forex is an aspiring young online trading brokerage that specializes in the trading of forex and offers their traders investment PAMM services. The brokerage is a modern STP brokerage with optimal price quotes and instant execution speeds. AKD Forex focuses primarily on the Russian markets and provides their trading services in the Russian language only. Though AKD Forex is a Russian online trading brokerage, they are not based out of Russia, but rather out of Vanuatu with their headquarters located at AKDForex Limited Govant Building, PO BOX 1276 Port Vila, VANUATU. AKD Forex is registered and regulated in Vanuatu by the financial watchdog the Vanuatu Financial Services Commission (VFSC).
However, this regulatory authority does not impose very strict rules and regulations, nor do they do much of anything to ensure the brokerage remains transparent, fair, and secure with their services. For instance, the VFSC only requires brokerages to pay a mere $2,000 to become regulated while a reputable regulatory authority requires brokerages to pay upwards of $700,000 to obtain regulation. However, AKD Forex is still a relatively new broker and may acquire better regulation in the future. In the meantime, is AKD Forex a reputable trading brokerage and how are the trading services they provide? Find this out and more in our in-depth review where we analyze all aspects of the AKD Forex trading brokerage and discover if they are the right broker for you.

Trading Platform

AKD Forex features the best and most popular online trading platform for the trading of forex and a wide array of tradeable financial assets. The platform they provide traders with is the MetaTrader 4 (MT4) trading platform. The MT4 trading platform by AKD Forex can be downloaded for free on all desktop computers including Windows, Mac, and Linux operating systems. Additionally, the platform can be downloaded from the Apple App Store and the Google Play Store for iOS and Android mobile devices. Across all computers and devices, the platform has been intuitively designed and optimized to work exceptionally on each operating system. The platform features a complete charting package with numerous built in technical indicators, a variety of graphical objects and analysis tools, and all of the chart types and time frames a trader needs. As well, traders can conduct one click trading directly from the charts for a seamless and fast trading experience. Traders can also participate in automated trading by implementing Expert Advisors (EAs) which use advanced algorithmic protocols to implement trading strategies and trade on your behalf. All in all, the MetaTrader 4 trading platform provided by AKD Forex is of excellent quality and accomodates the needs of all types and experience levels of traders.

Exchange Markets

AKD Forex does not feature a wide variety of financial products for their traders to invest in and trade. Rather they focus heavily on the offering of PAMM service accounts. These types of accounts allow traders to follow and copy experienced traders portfolios. These investment portfolios may contain a variety of financial assets, but the traders themselves cannot trade them. As for the self-trading markets, traders can trade in the forex markets with a wide selection of forex currency pairs including majors, minors, and exotics. Most trading brokerages feature a wider array of markets to trade in, but AKD Forex is very specialized. This could be because the brokerage is so new and not fully established yet.

Fees and Commission

AKD Forex offers their traders low and favorable trading fees that are incurred via the spread and commission on each trade. The spreads and commissions vary from asset to asset and are different for different account types. See the spreads and commissions for the two account types below.

ECN Trading Account

Variable spreads with an average of 0.2 pips
$10 commissions per lot

Standard Trading Account

Variable spreads with an average of 0.5 pips
$5 commissions per lot

Security and Fairness

Probably the biggest drawback of the AKD Forex online trading brokerage is their level of security and trustworthiness. AKD Forex is an offshore trading brokerage based out of Vanuatu and is only licensed and regulated by the questionable Vanuatu Financial Services Commission (VFSC). As well, the brokerage is very new and has yet to build up any sort of reputation. Furthermore, AKD Forex does not have a website security certificate. Therefore, reputable website browsers like Google Chrome do not trust AKD Forex and advises users to not input any sensitive information on their website. This is a huge red flag for us and until AKD Forex addresses this issue, we advise that no one trades with AKD Forex.

Support

AKD Forex provides their traders with various customer support options such as contact through email, telephone, live chat, a support ticket system, and through the brokerages various social media channels including Facebook, Twitter, YouTube, and Instagram. As for additional methods of support, there are none. AKD Forex doesn’t even feature an FAQ page or much information on their website regarding their services and tradeable assets.

Conclusion

Overall, the AKD Forex online trading brokerage may be an aspiring young trading brokerage, but they have a long ways to go. In their current state, we advise traders to stay away from AKD Forex as their website is not deemed as secure and the brokerage has yet to build up a viable reputation. The brokerage does feature an excellent online trading platform and a variety forex currency pairs, but that’s about all they have going for them. All in all, traders have much better options available.