Editor’s Verdict
Overview
Review
Headquarters | Switzerland |
|---|---|
Year Established | 2002 |
US Persons Accepted? |
ACM (AC-Markets) is a Swiss company founded in 2002. The company’s headquarters are located in Geneva, Switzerland, with offices around the world in Dubai, Urugua y and in the USA in New York. ACM provides a reliable and simple Forex trading platform for 39 currency pairs and for gold and silver. Spreads are on average 3 pips for the major pairs in standard account, and are 4 pips and over for mini account. It is important to note that these spreads are incredibly high - and make the trading conditions much less appealing than those offered by other brokers, such as Markets.com, whose spreads go as low as nearly 2 pips and others which have variable spreads that may go even lower. The leverage is 1:100 for all types of accounts, though other brokers such as FxPro offer leverage up to 1:500, which can enhance the trading experience and your results. During the scope of our AC Markets review, we were extremely distressed to see that the minimum deposit for mini accounts is $2,000 - significantly higher than most other Forex brokers require, and the minimum deposit for standard accounts $5,000. AC-Markets also offers institutional accounts, in which the minimum deposit is $50,000 with spreads as low as 1 pip, Demo accounts, offering real time prices and trading conditions for a period of 30 days. Due to Swiss regulations, registration process is quite long, and requires filling in personal details, employment status and financial. You are also required to submit your bank details, passport number, a photocopy of your passport and a copy of a utility bill. Deposits into your account can be made in the following currencies: USD, EUR, CHF, GBP, AUD & JPY. ACM offers 4 trading platforms, the “Advanced Trader” which is a professional trading software,the “Advanced Web Trader” which can be used from any Web connection without any download, the “Advanced Mobile Trader” allowing to place trades and monitor your account from any wap enabled mobile phone and the "Advanced Flash Trader". All platforms are accessible with the same username and password. ACM website and trading platforms are offered in a wide range of languages (14), including: English, French, German, Spanish, Dutch, Portuguese, Arabic, Farsi, Chinese, Japanese, Turkish, Greek and Russian. The trading platforms are user-friendly, intuitive and customizable. Charting tools are available on all platforms, and news, analysis reports and financial calendars are accessible on the platforms and in an external web site. AC-Markets offers a service they call “What you click is what you get”, meaning that when a customer clicks on a price, that price is “captured” as the execution price. Therefore if the market moves, the customer still gets the price he chose, erasing slippage from trading activities. Quick, efficient and polite customer service is available 24 during market hours. Professional staff is available in real time by Phone, Chat, E-mail and Return call. Support is provided in English, French, Spanish, Italian, German, Greek, Farsi and Russian. ACM provides educational material, such as an introduction to FOREX trading, a FOREX trading glossary, a telephone deals glossary, trading examples, and more. Users’ experience with this firm is controversial. Being one of the largest FOREX companies definitely helps attract new clients, and during the first months of trading, users are generally happy with their services and user friendly platform. However, the larger the deals get, the more dissatisfied the trader become. ACM’s spreads are not fixed so they do vary widely during major market changes. This become significant due to the fact that the minimum lot for each trade is large, therefore the losses can be grave.