ACFX Forex Broker

Note: ACFX official site - http://atlaseforex.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. ACFX Review Summary in 10 Points Registered Country/Region Cyprus Founded Year 2007 Regulation Suspected CYSEC and FCA clone Market Instruments Forex, Indices, Futures, Commodities, Stocks Demo Account Available Leverage Up to 1:500 EUR/USD Spread From 2 pips Trading Platforms MT4 Minimum Deposit $50 Customer Support Email, phone, address, live chat, call-back, skype What is ACFX？ ACFX, short forAtlasCapital Financial Services Ltd, is a Cyprus-based broker offering a diverse range of financial instruments, including Forex, Indices, Futures, Commodities, and Stocks. However, concerns arise due to its suspicious CYSEC and FCA clone status, along with a non-functional website, posing reliability and credibility issues, thus increasing investment risks. In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. At the end of the article, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding. Pros & Cons Pros Cons • MT4 trading platform • Suspicious CYSEC and FCA clone • Demo account available • Website unavailable • 24/5 service • Lack of transparency • Negative reports on WikiFX Pros: MT4 trading platform: Renowned for its advanced features, charting capabilities, and user-friendly interface, facilitating efficient trading. Demo account available: Offers a risk-free environment for traders to practice and refine their strategies before committing real funds. 24/5 service: Provides accessible support and assistance to clients throughout trading hours. Cons: Suspicious CYSEC and FCA clone: Raises significant regulatory concerns, potentially indicating fraudulent activity. Website unavailable: Limits access to essential information and services, hindering user experience and transparency. Lack of transparency: Diminishes trust and confidence in the broker's operations and integrity. Negative reports on WikiFX: Suggest potential issues with reliability and customer satisfaction, warranting caution for interested traders. Is ACFX Safe or Scam？ When considering the safety of a brokerage like ACFX or any other platform, it's important to conduct thorough research and consider various factors. Regulatory sight: The broker's CYSEC (Cyprus Securities and Exchange Commission) license, numbered 085/07, and FCA (Financial Conduct Authority) license, numbered 480859, are viewed with suspicion, casting doubts on its regulatory adherence and commitment to customer protection. The situation is compounded by an inaccessible website. Thorough research is quite necessary when engaging with financial entities, particularly when encountering such cautionary indicators User feedback: There are two reports on WikiFX about withdrawal issues that should be considered a notable red flag for ACFX, urging traders to exercise caution and conduct thorough due diligence before considering any engagement with the broker. Security measures: So far we have not found any security measures over internet for this broker. In the end, choosing whether or not to engage in trading with ACFX is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities. Market Instruments ACFX provides a comprehensive range of market instruments, encompassing various asset classes to accommodate traders' diverse needs and preferences. In the realm of Forex trading, clients have access to a wide selection of currency pairs, allowing them to capitalize on fluctuations in global exchange rates. This includes major pairs like EUR/USD and GBP/USD, as well as minor and exotic pairs for more specialized trading strategies. Additionally, ACFX offers trading opportunities in indices, enabling traders to speculate on the performance of global stock market indices such as the S&P 500, FTSE 100, and Nikkei 225. With indices representing a basket of stocks from specific regions or industries, traders can diversify their portfolios and hedge against market volatility. For those interested in futures trading, ACFX provides access to futures contracts on various underlying assets, including commodities like crude oil, gold, and agricultural products. Futures contracts allow traders to speculate on the future price movements of these commodities, offering opportunities for profit in both rising and falling markets. Moreover, ACFX caters to traders looking to invest in individual stocks, offering a selection of equities from global stock exchanges. This allows clients to trade shares of well-known companies such as Apple, Google, and Amazon, providing exposure to individual companies' performance and potential growth opportunities. Accounts ACFX offers a range of account types tailored to meet the diverse needs of traders. With a minimum deposit of $50, traders can choose from various account options, including Classic Fixed Spread, Classic Floating Spread, STP, VIP, and Islamic accounts. Each account type caters to different trading styles and preferences, providing flexibility and choice to traders of all levels. Whether traders prefer fixed or floating spreads, direct market access, or specialized Islamic accounts compliant with Shariah law, ACFX ensures that clients have access to the account type that best suits their trading objectives. Additionally, the low minimum deposit requirement of $50 makes trading accessible to a wide range of investors, allowing them to start trading with ease and confidence. ACFX also provides a demo account option, allowing traders to practice and familiarize themselves with the platform and market conditions before committing real funds. The demo account offers a risk-free environment where traders can hone their skills, test trading strategies, and gain confidence without financial risk. With access to virtual funds, traders can experience real-time market movements and execute trades in a simulated trading environment. Leverage ACFX offers different leverage ratios for distinct asset classes: Forex: Amplify your returns (or losses) in the foreign exchange market with leverage of up to 1:500. This means you can control a larger position size with a smaller initial deposit. However, keep in mind that higher leverage also magnifies losses. CFDs: For Contracts for Difference, ACFX offers a more conservative leverage ratio of 1:10. This can be a good option for those who want some magnification of their results but with a reduced risk profile compared to forex trading. Metals: Trade gold, silver, and other metals with a leverage ratio of up to 1:100 on the ACFX platform. This middle-ground leverage provides a balance between gains and risk exposure. Trading Platofrms ACFX offers its traders the renowned MetaTrader 4 (MT4) trading platform, a highly favored solution in the industry. MT4 is renowned for its exceptional charting capabilities and a wide range of add-ons available, making it a top choice among brokers and traders alike. Additionally, the platform provides access to the MQL marketplace, an online store where users can explore, test, and acquire new technical indicators and automated trading robots, known as Expert Advisors (EAs). This integration enhances traders' capabilities by providing access to a vast array of tools and resources to optimize their trading strategies and decision-making processes. Spread & Commissions ACFX offers spreads on major currency pairs ranging from 2 to 3 pips, which is notably higher than the industry standard. However, commission information is not available, making it difficult to assess the total cost of trading on the platform accurately. Traders should carefully consider these factors when evaluating ACFX's offerings and compare them with other brokers to make well-informed decisions aligned with their trading preferences and objectives. Deposit & Withdrawal ACFX offers a diverse range of payment methods to facilitate convenient and secure transactions for its traders. Accepted methods include Credit Card, Moneybookers, Wire Transfer, Neteller, and WebMoney. Whether traders prefer traditional bank transfers or electronic payment options, such as credit cards and e-wallets, ACFX ensures flexibility to cater to diverse preferences. Importantly, it's noteworthy that the broker does not charges any deposit or withdrawal fees, reducing costs for investors. User Exposure on WikiFX The presence of two reports on WikiFX concerning withdrawal issues serves as a significant red flag. We strongly urge all traders to conduct thorough research and meticulously analyze available information before engaging in any trading activities. Our platform is committed to serving as a comprehensive tool to assist traders in making informed decisions. If you've experienced financial fraud or encountered similar issues, we encourage you to share your experiences in our 'Exposure' section. Your contribution is invaluable, and rest assured, our dedicated team is steadfast in addressing challenges and continually seeks effective solutions for complex situations. Customer Service ACFX provides comprehensive customer service, including email, phone, address, live chat, call-back, and Skype support. With 24/5 availability, traders can access assistance anytime, ensuring prompt resolution of inquiries and support for optimal trading experiences. Headquarter Address: 197 Arch Makarios Avenue Gala Tower 4th Floor CY-3030 Limassol Cyprus. Email: support@acfx.com. Tel: +357 25 501055. Conclusion In summary, ACFX, headquartered in Cyprus, provides online trading services spanning Forex, Indices, Futures, Commodities, and Stocks. However, its suspicious CYSEC and FCA clone status, coupled with persistent website accessibility issues, cast doubts on its operations. Additionally, two withdrawal issues reported on WikiFX exacerbate these concerns. In light of these issues, we advise you to explore brokers that prioritize transparency, regulatory compliance, and exemplary customer service. Frequently Asked Questions (FAQs) Q 1: Is ACFX regulated？ A 1: No. The broker holds two suspicious clone licenses: CYSEC (Cyprus Securities and Exchange Commission) license, No, 085/07, and FCA (Financial Conduct Authority) license, No. 480859,. Q 2: Is ACFX a good broker for beginners？ A 2: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its unavailable website and lack of transparency. Q 3: Does ACFX offer industry leading MT4 & MT5？ A 3: Yes, it offers MT4. Q 4: Whats the minimum deposit does ACFX require？ A 4: ACFX requested a minimum deposit of USD50. Q 5: Does ACFX offer a demo account？ A 5: Yes. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.