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?