Acumen Information
Acumen is an unregulated brokerage company registered in India. This firm provides a wide selection of investment options with its advanced trading platforms (Touch, GreekSoft, etc). Acumen also offers Algo trading options. However, there is an account opening fee for Touch accounts, and this firm charges annual maintenance fees.
Pros and Cons
Is Acumen Legit?
Acumen operates without regulation from any recognized financial authority. Engaging with an unregulated broker like Acumen carries substantial risks, and investors should be aware of the potential consequences before depositing funds.
What Can I Trade on Acumen?
Having a diversified portfolio is important for managing risk. Acumen presents a swath of investment options, including forex, equity futures, equity options, commodities, and mutual funds. With this firm, you can invest in many financial institutions in India, such as NSE, BSE, MCX, etc. With mutual funds, you can choose from different types of funds such as stock funds, bond funds, money market funds, and index funds.
A couple of things you won't see here are ETFs and cryptocurrencies. Acumen doesn't offer either one.
Account Types
You can open a trading & demat account with Acumen. Various entities, including individuals, companies, partnership firms, HUFS, and NRIs, can open trading accounts with this broker.
Account opening is free, but this firm charges an annual maintenance fee of Rs 399 + GST.
Besides, if you are a tech-savvy, experienced, or expert trader you can open a Touch trading account with this broker. However, this account charges an account opening fee.
Acumen Fees
Investment fees can take a bite out of your returns. Acumen claims to provide low-cost brokerage services. You can see the trading fees of a Touch account as below:
Trading Platform
Acumen provides several advanced trading platforms:
- Touch: for trading F&O, Commodities, Currencies
- Mutual funds app: for trading mutual funds
- GreekSoft: for trading options
Touch can be installed on Windows, Mac, IOS, and Android devices. This platform offers multiple watchlists, LIVE research calls, and 100+ charting indicators. You can use this platform to connect stock exchanges, such as NSE, BSE, and MCX.
Its mutual funds app is easy to navigate. It gives you daily investment reports and a bunch of research tools.
The GreedSoft platform is for option traders who prefer Algo trading. Using a set of instructions or an algorithm to automatically execute trades, you can take advantage of market opportunities quickly and efficiently.
Customer Support Options
For any questions you might have, help is available through an online chat feature, phone (+91 94959 98191), email (care@acumengroup.in), or social media channels (Facebook, Instagram, and Linkedin).
The Bottom Line
While there are plenty of online brokerages out there, some may fit your needs better than others. Acumen makes it easier to build a diversified portfolio. Its advanced trading platforms and Algo trading options are other selling points for investors. However, the biggest drawbacks are the charging of annual maintenance fees and regulatory hurdles. As you compare online brokerages, keep cost and risk firmly in mind.
FAQs
Is Acumen a regulated brokerage?
No, Acumen is not regulated by any reputable financial authority.
Does Acumen offer mutual fund trading?
Yes, Acumen provides investment in mutual funds with its user-friendly Mutual funds app.
What account types does Acumen offer?
Acumen offers a trading & demat account and one Touch account.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for everyone.
