ACY Securities is a forex broker that has been in operation since 2011. The company is headquartered in Sydney, Australia, and claims to be regulated by the Australian Securities and Investments Commission (ASIC). However, there is growing evidence that ACY Securities is a scam broker.
Company Overview
ACY Securities is a relatively small broker with a limited track record. The company does not have a large customer base, and there are few independent reviews of its services. This lack of transparency is a red flag.
Does ACY Securities Have Any License?
They are claims to be regulated by the ASIC. However, the ASIC listed this company in their database, but you should be careful that sometimes a registered company can be a scam, such as FTX.
Is ACY Securities Regulated By Any Authority?
ACY Securities is regulated by the ASIC but they are not regulated in other locations.
ACY Securities Pros and Cons
Pros:
- They offers a wide range of trading instruments, including forex, CFDs, and indices.
- ACY Securities provides traders with access to a variety of trading platforms, including MetaTrader 4 and cTrader.
Cons:
- ACY Securities is not regulated by any major financial regulator.
- There are numerous complaints about ACY Securities online, including reports of withdrawal delays, account freezes, and customer service issues.
- ACY Securities has a poor reputation among forex traders.
How Do ACY Securities Reach To Their Prey?
ACYSecurities targets inexperienced traders with its aggressive marketing campaigns. The company advertises heavily on social media and forex trading websites. ACY Securities also offers free webinars and trading courses that are designed to lure traders into opening an account.
Technical Details of ACY Securities
Minimum Deposit:
The minimum deposit requirement for an ACY Securities account is $250. This is relatively low compared to other forex brokers.
Trading Platform:
They offers traders access to two trading platforms: MetaTrader 4 and cTrader. Both platforms are popular among forex traders. MetaTrader 4 is known for its ease of use, while cTrader is known for its advanced features.
Spread:
This company spreads are competitive. The average spread for EUR/USD is 1.0 pips. This is slightly higher than the industry average.
Leverage:
They offers leverage up to 1:500. This is a high level of leverage that can magnify profits and losses. Traders should use leverage carefully.
Packages and Products They Offer
This website offers three account types: Standard, Premium, and VIP. The Standard account is the most basic account type. The Premium account offers additional features, such as access to a wider range of trading instruments and higher leverage. The VIP account offers the most features and benefits.
They also offers a variety of products, including forex, CFDs, and indices. The company also offers a variety of educational resources and trading tools.
Withdrawal and Deposit Method
ACY Securities offers a variety of withdrawal and deposit methods, including credit cards, debit cards, wire transfers, and Skrill. The minimum withdrawal amount is $25.
What Do Their Previous Traders Say?
There are numerous complaints about ACY Securities online. Traders have complained about withdrawal delays, account freezes, and customer service issues. There have also been reports of ACY Securities refusing to pay out profits to traders.
Summing Up- Why Should Not You Trust ACY Securities
This company is a scam broker that should be avoided. The company is not regulated by any major financial regulator, and there are numerous complaints about its services online. Traders who open an account with ACY Securities are at risk of losing their money.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with ACY Securities, you may be able to get your money back. You can file a complaint with the ASIC or the VFSC. You can also contact us to get a free consultation and quick solution.
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Final Thoughts
ACY Securities is a scam broker that should be avoided. If you are looking for a reputable forex broker, we recommend that you research more and also check our scammers list to stay away from other scammers.
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