Beware! Akah Nent is an offshore broker! Your investment may be at risk.

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Akah Nent is a fairly typical example of a financial scam that attempts to deceive its potential victims that it represents a licensed forex broker. In this review, we will show you how to do a fact check to determine if an investment intermediary is legit or not.

Akah Nent Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Akah Nent
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

Akah Nent does not disclose which company is behind the website. Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

The homepage of the website states that Akah Nent is based and licensed in Cyprus:

Elsewhere on the website it is claimed that Akah Nent also has licences in Australia, South Africa and Belize:

But the text of the Client Agreement lists the offshore zone of Vanuatu as the applicable jurisdiction:

A check of the financial regulators’ records shows that there is no licensed broker in any of these jurisdictions using the Akah Nent brand and domain. The website is primarily available in Russian. The Central Bank of Russia has issued a warning to investors that Akah Nent is not authorised.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the Cyprus Securities and Exchange Commission (CySEC).

They must maintain a minimum net capital of at least EUR 730 000, which guarantees that the company is financially stable and has a serious long-term approach. When clients deposit money in their trading accounts, they are kept segregated from the broker’s operating funds in separate bank accounts. Thus the clients’ money remains shielded in case of mishaps like a broker’s bankruptcy.

All brokers licensed in Cyprus and other EU countries are members of the Investor Compensation Fund, which may cover a maximum of EUR 20,000 per person in the event of broker insolvency.

Akah Nent Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Akah Nent platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

Akah Nent offers basic web-based software that does not feature advanced functionality.

While the platform has the basic features for placing orders, customising charts and application of technical indicators, it lacks the more advanced functionality found in the most widely used trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Akah Nent Trading instruments

CurrencyStocksIndicesCryptoCommodities
Akah Nent
XMYesYesYesNoYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

While Akah Nent’s trading software includes instruments from all major asset classes, we have no guarantees that this trading is real. There is no good reason to take chances with such a fishy website, given that you can invest through a duly licensed forex broker.

Akah Nent Spreads and cost of trading

Akah NentXMFBSFXTM
Spread EURUSD0.10.611.1
Spread GBPUSD0.11.31.21.4
Spread USDJPY0.11.31.21.4

In the trading platform we see a raw spread close to zero. This means that the broker must charge some commission for volume traded. But Akah Nent does not provide information about the price paid by the trader.

Akah Nent Maximum leverage

ForexStocksCryptoGoldIndices
Akah Nent500:1100:110:1100:1100:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

Akah Nent offers leverage up to 1:500. This is also proof that this website is not the licensed broker it claims to be.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Akah Nent Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Crypto24 hours24 hoursFee depends on crypto

We weren’t at all surprised that the only payment method accepted by Akah Nent Is cryptocurrencies.

Cryptocurrencies are the payment method of choice for most financial scammers. The reason for this is that on the one hand cryptocurrencies provide a degree of anonymity and on the other hand they do not allow the defrauded person to ask for a refund.

If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

Akah Nent Minimum deposit

Akah NentXMFBSFXTM
Minimum deposit$150$5$10$5

The minimum deposit required by Akah Nent is 150 USD. For the same or often lower amount you could open a starter trading account with any of the industry’s leading brands.

Akah Nent Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
Akah NentNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

Akah Nent does not specify extraordinary conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.

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