ACT Markets

ACT Markets is a forex broker registered in Nigeria, operating under the entity Alpha Cosmos Trading Markets. Founded on December 10, 2019, the broker targets retail traders seeking access to global financial markets. However, as of our review, there is no evidence that ACT Markets holds a valid regulatory licence from any recognised financial authority.

This absence of regulation is a significant red flag for traders, as it means the broker is not subject to oversight by a regulatory body that enforces client fund segregation, transparent reporting, or dispute resolution mechanisms. Traders considering ACT Markets should be aware of the elevated risk this entails.

Our records show that ACT Markets has no regulatory licences on file. This is confirmed by cross-referencing with official registries of financial regulators in Nigeria and other jurisdictions. The broker itself does not claim to be regulated by any specific authority on its website.

Without regulatory oversight, there is no guarantee that client funds are held in segregated accounts or that the broker adheres to minimum capital requirements. This makes ACT Markets a high-risk proposition for traders, especially those new to the forex market.

ACT Markets offers four distinct account types designed to cater to different trading styles and capital levels. The Micro Account requires a minimum deposit of $5 and offers a maximum leverage of 1:1000, making it accessible to beginners or those with limited funds. The Variable Account has a minimum deposit of $100 and a maximum leverage of 1:500.

For higher-volume traders, the VIP Account requires a minimum deposit of $10,000 and also offers leverage up to 1:500. Additionally, the broker provides an Islamic Account (Swap Free) with a flexible deposit range of $5 to $10,000 and leverage up to 1:500, catering to traders who require sharia-compliant trading conditions.

According to its website, ACT Markets provides access to a range of tradable instruments, including major, minor, and cross currency pairs, indices, energies, metals, and equities from the EU and US markets. The broker also mentions cryptocurrencies as part of its offering.

Trading is conducted through the MetaTrader 5 (MT5) platform, a widely used multi-asset trading platform known for its advanced charting tools, automated trading capabilities, and user-friendly interface. MT5 is available for desktop, web, and mobile devices.

ACT Markets is operated by Alpha Cosmos Trading Markets, a company registered in Nigeria. The firm has a social media presence on Facebook, Instagram, and LinkedIn, though it does not appear to have a significant online footprint from independent reviews or industry recognition.

Founded in late 2019, the broker is relatively new to the forex industry. Its lack of regulatory licences and limited public information contribute to an overall assessment of high risk for potential clients.

FXCanary's Scam Risk Score for ACT Markets is 75 out of 100, placing it in the 'Severe' risk category. This score reflects the broker's unregulated status, the lack of independent user reviews, and the high leverage offered on certain account types.

Traders should approach ACT Markets with extreme caution. The absence of regulatory oversight means there is no external recourse should disputes arise, and the safety of deposited funds cannot be independently verified. It is generally advisable to only trade with brokers that are licensed by reputable financial authorities.

In summary, ACT Markets is an unregulated forex broker based in Nigeria. While it offers a variety of account types and instruments through the MT5 platform, the significant risks associated with trading with an unregulated entity outweigh any potential benefits.

We strongly recommend that traders seek alternatives that are properly licensed and subject to regulatory oversight. For those who still consider using ACT Markets, it is essential to conduct thorough due diligence and only risk capital that one can afford to lose.