Is ACM a reliable Forex broker?
ACM is also called AC-Markets and it’s a broker that gets some attention. There are always rumors about a merger or trade sale. And it seems that ACM lost its licence and had to be sold in the near past. Also their brand strategy is confusing at best. But this is not that important compared to the other complaints.
Some time ago there was a raid of the police in the ACM offices of Geneve. The result of this raid is not known yet. It seems that ACM doesn’t have to close down operations due to this raid.
There are other incidents and complaints that make this broker at least not reliable. Some former employees and insiders describe what tactics ACM uses to trick on their traders.
ACM has the right to close positions or your entire account for no big reasons. That’s why there are so many complaints right now. All of them have not been successful enough to put ACM out of business. Everybody who got cheated should contact the Police in Swiss immediately. The more complaints there are the easier it is to take down this broker.
It doesn’t look good for ACM and this broker is not reliable. We don’t want to use the word scam because it is not proven yet.
Experiences with ACM
The following quotes give you a sense of what other traders think about this broker:
Before you start trading at ACM you should really think about it first. There’s still an open lawsuit in Geneve against this broker. If you already traded with ACM you may have recognized it: they can close positions or your whole account if they want. This can be found in the trading agreement!
I have a real money account with ACM and I had an open position with a stop loss and take profit. Once I came back to the platform the chart was below stop loss and the position was still not closed. They said that the platform simply works this way (with slippage) and they won’t change it.
This platform is not reliable at all. A position was simply closed without any reason. The support is very bad. You can only call them because they don’t reply to emails.
I’m trading with ACM for two years and I can’t complain so far.
I really like ACM but the fact that they don’t have a banking licence any more makes me wounder.
Why do four judges and 28 policemen invade a corporate office if there are no real reasons for that?
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ACM-FX is a scam
ACM-FX and GTP-FX are fraud. A rep by named Ranek (+442076917186; +442871930334; +442033896666; [email protected])writes you emails and is available over the phone until your first withdrawal. As soon as you raise a request for your first withdraw they block all communications and you never hear from them again. They are a big time CON / SCAMS.
I have been a client of ACM-FX and they are nothing below excellent in customer service. ACM-FX and GTP-FX are partner in association. They seems to have tie ups with Sakura trading too. However when you request your first withdrawal, their emails will stop working and soon followed by their phones. They initially build trust with excellence customer service by answering your questions and giving you knowledge, which makes anyone seem that they are legit. However they are SCAM. Please donot waste your time with them. I have lost $3000.
They claim to be associated with swiz quote group and use names of the banks citi bank and bank of america which is all a lie. FENMA has denied any association or registrations of ACM-FX.
Suite 15, Oliaji Trade Centre 1st floor,
Francis Rachel Street, Victoria, Mahé, Seychelles
European Service Desk
Tel: + 44 (0)20 3389 6666
Fax: + 44 (0)20 7691 7186
I Have lost 17000 $
what i can do
i am in Kuwait
and i am faraway of these countries
i do not know what to do
I disagree with the comments that they are not good (or scam). Thought its been a year since this article was written. I think i should say the below.
I have been a client of ACM-FX and they are nothing below excellent in customer service. However i do agree they have a slippage problem but the account executive has been clear on this. They have been there for me everytime I have had a problem or a question.
They have built the trust in me.
ACM is just a scam. 100% Dealing desk. It is funniest to play Casino. This year (2015), you will see, there will be some twist in the ACM case!!! To be continued…
where is your continuation of the twist?