ACM — Forex Broker

I've been using ACM since 2009 in UK and its web based platform is fine to me. It is a bit difficult to identify techicak indicators such as Ichimoku on the charts. And over night rate is expensive compare to other FX dealers, IFC markets which giving me about 0.20USD every night even I'm not in profit. Since 30th of January, each time when I open ACM web, they are now showing a message "Swissquote Bank Ltd ("Swissquote") is a bank licensed in Switzerland under the supervision of the Swiss Financial Market Supervisory Authority (FINMA). Swissquote is not authorized by the Financial Services Authority (FSA) to communicate financial promotions in the UK, in the course of its business." This made me a little bet panic key. Are they safe? Can I trust them? should I close all position and close my account? Could someone tell me? I tried to contact them but the chat window is not working. I have sent a e-mail but no reply.

I just tried their MT4 demo account and found some serious problems:

1. Spreads are as high as 4 on mini accounts, Mini accounts are at the size of 2K to 5K US$!

2. Their system simply deleted one of my winning trades. It just disappeared! There is not any trace in history or journal! You may ask how I can prove it?! Simply the answer is I can't. Although I can program my EA to log my trades to files, it cannot be used to raise a complaint to regulatory firms as it is simply purged from their server.

3. Their server becomes very slow in high volatility market conditions. So if you are winning, the platform becomes very slow so you would not be able to close or modify your open positions. I checked it in parallel with another platform and the other one were working smoothly at the same time.

Conclusion: I do not recommend to use this broker. Try their demo prior to open a real account to see it yourself.

I use ACM's new 2010 webtareder platform. The "old" model was not bad...not great, but not bad. This new one however is so totally fresh and fast for a web platform, it is probably up there amongst the best currently available.

This review best sums it up.

http://forexmagnates.com/acm-web-trader-console-an-overview/

I recently checked out ACM’s new WebTrader. It seems there are a host of new platforms coming out recently, and this is the latest one. How does it compare? Let’s take a look.

The first thing that struck me was its clean look. Definitely cleaner than Metatrader 4. At times MT4 can make the screen look a little clogged up, but with the ACM WebTrader, this isn’t the case. To be honest, it’s probably mainly because the charts and the main info screen are in different windows, (unlike MT4), but despite that, it still manages to deliver an efficient but useful main window, including the latest news, in detail, live quotes, large quote boards, (something which most platforms have), your latest positions, and of course your trade log. MT4 has the latest positions and trade log in the same window but you have to flick between them, meaning you can’t view both at the same time. WebTrader however has them in separate windows meaning you can view them simultaneously.

Now, when making orders, there’s a few things which I came across which was unique to this platform. The first is something called, a GTC order, meaning Good for the day. A GFD order remains active in the market until the end of the trading day. Now, since forex is an ongoing market, the end of day must be a set hour. For ACM the end of the trading day occurs at exactly 23:00 CET. So basically, it’s a time limited trade, which automatically closes, whether in loss or in profit, at the end of the day.

Other types of orders include, the IF DONE type order. This can be really useful, and I’m surprised other platforms don’t have this. Basically, it means, if for example, the trader believes that the EURUSD is going down but will reach a resistance at say 1.3650. At that point, the trader thinks that the market will rebound which is why the trader can place a sell order at 1.3600. This kind of order allows the trader to execute a strategy without constantly being behind the computer.

When the execution of an order reduces the exposure on the traded currency-pair, the FIFO (First In First Out) rule will apply, and the oldest position on the traded currency pair is closed or reduced. If the amount of the order is larger than the amount of the closed position, the next oldest position is reduced or closed. This process will continue as long as the entire amount of the order has not been booked. If all positions are closed and there is still an available amount which has not been booked, the order reverses the exposure from long to short (or from short to long). A new position with the residual amount will be created in the opposite direction.

There is also something called “linked orders”. This means, orders linked to an open position are called Linked orders. It means that the execution of linked orders will only affect the linked position by closing it. Linked orders are easily configured by the client. The client just has to select a position in the list of all open positions on it and selecting the appropriate order type to close that position.

As far as colour customisations go, there’s not really a lot to ACM’s WebTrader. It’s basically the option to have the platform as a dark scheme or a light scheme.

The advantage of a web based platform is that no installation is required (apart from Java if you don’t already have it). The problem is however, web based platforms are notoriously sluggish. Nothing can compare for speed to having a local based platform installed on your own hard drive. Having said that, this is actually quite a speedy platform for its web based nature, and I’m surprised at how smooth it was in regards to moving from different windows, clicking different buttons and icons, opening menus, dragging charts. Ok, if you’re used to say, MT4, you’re gonna find this slow, but it definitely holds up well against other web platforms, and it wouldn’t be far fetched to say it’s the quickest of them all.

Overall, this is a decent platform, easy to use, with lots of functionality. Obviously it’s missing expert advisors – that’s natural, but for a platform for purely manual trading, it does a good job.

To Franky Benito Giuseppe, Paysan of Italy...you are talking crap my friend. Remember also that markets are closed!

Their website clearly states the following:

Margin rates

ACM requires a 1% margin level to maintain open positions for ticket sizes below $25,000,000. For clients wishing to trade positions in excess of $25,000,000 - intraday liquidity allows for greater margin flexibility. During intraday trading hours, 08:00-22:50 CET, the below margin schedule is in effect:

INTRADAY 08:00 - 22:50 CET

Trade Size Margin Requirement

$10,000 through $30,000,000 1.00%

$30,000,001 through $40,000,000 1.50%

$40,000,001 through $50,000,000 2.00%

$50,000,001 through $60,000,000 2.50%

$60,000,001 through $70,000,000 3.00%

$70,000,001 through ∞ 4.00% or greater

Outside intraday hours, margin levels will revert to overnight/weekend levels:

OVERNIGHT 22:50 - 08:00 CET & WEEKENDS

Trade Size Margin Requirement

$10,000 through $25,000,000 1.00%

$25,000,001 through $31,250,000 2.00%

$31,250,001 through $37,500,000 2.50%

$37,500,001 through $43,750,000 3.00%

$43,750,001 through $50,000,000 3.50%

$50,000,001 through $55,000,000 4.00%

$55,000,001 through $62,500,000 4.50%

$62,500,001 through ∞ 5.00% or greater

Please note: There will be no change in margin requirements overnight and on weekends for clients trading tickets below $25,000,000.

All customers are fully responsible for monitoring the activity on their accounts. In the case that open positions result in excessive margin exposure and attain the allowable limit, liquidation will occur automatically and all open positions will be closed.

PS: I and other friends trade here and never has there been any underhand issues.

I have close my account with ACM because for my opinion its very big scam.

Don't use this broker.

Over the weekend stole USD 40.000 usd with the margin. It increased the difference between ask and bid of 60 pips to steal my money.The level of the margin was down and he took my money.

I have the prove , and i'm very happy for the visit of the police. I hope he will close

I found on you tube their advertised video and it´s hilarious, very funny approach for such a serious matter. If you have a sec watch it.

It's called tired of slippage?

http://www.youtube.com/watch?v=hoRuKWwFl8g

Good trading

I have been very pleased with their customer follow up as well as their trading conditions.

There are some details above that are wrong. ACM exist since 2002 (I use them since 2005)also now they also have the MT4 platform. This broker have excellent execution in all the market condition, they even guarantee fills with market orders...and stick to their word! It is not the cheapest broker to open with at $2000 minimum, but if you wanting a platform that is very professional then it is worth it. The spreads are with other tight spread brokers e.g. EURGBP on my account is 2 pips, during volatile market I have never yet seen it go over 5 pips yet which is better than brokers offering 1 or 1.5 pip because they usually slip to around 9 - 10 pips. Sure if you want a big account then the same pair closes to 1.4 or even 1.2. As a Swiss broker, the FIFO rule does not affect them, and hedging is possible. It is all about the execution and ACM are leaders in that field.