ACY FX Review
ACY FX offers its clients a single account type with maximum leverage up to 1:500, variable spreads and no commission fees. Micro lots are available for trade and, of course, the broker also provides free practice accounts, which are always appreciated by newbies or anyone who wishes to test ACY FX’s services.
PAMM and MAM services are also available with this broker,
The Company. Security of Funds
ACY Capital Pty Ltd.
Founded in 2013, ACY FX is a Sydney-based forex trading and education service provider. It offers trading in more than 40 currency pairs, as well as CFDs on various Indices, precious metals, Oil & Gas on the MetaTrader 4 platform.
ACY FX is a registered trading name of ACY Capital Pty Ltd., which is regulated by the Australian Securities and Investments Commission (ASIC).
ASIC requires licensed companies to meet certain requirements and to comply with various rules. and Australian brokers must hold at least $ 1 million in order to operate legitimately, and to keep clients’ money in segregated trust accounts, among other things.
Unlike other European brokers (Cyprus and UK-based ones), however, Australian ones are not covered by any compensation scheme.
Another thing worth mentioning is that ACY FX has strong presence in the Chinese market. In 2017, it opened an international office in Shenzhen, China. In 2014, the broker even has established strategic partnership with OANDA Australia to deliver education services for Chinese speaking traders in Australia and New Zealand in Chinese.
Minimum Initial Deposit
Traders are required to deposit $100 in order to open an account with ACY FX, which is an average initial amount. In comparison, both Plus500 and easyMarkets (which hold ASIC licenses, among others) require $100 as a start.
Average Spreads & Commissions
ACY FX offers commission-free trading and competitive variable spreads, starting from 0.8 pips on EUR/USD. So, the typical spreads of this broker are around 1 pips for this pair, which is on the lower end of average.
By comparison, easyMarkets offers spreads fixed at 1.0 pips on EUR/USD and also charges no commission. For further information, you may look up real-time spreads of 15 leading brokers here.
Clients of ACY FX use leverage ratios up to 1:500, which is considered high, however many brokers offer similar or even higher leverage levels. EasyMarkets, for example, offers leverage up to 1:400.
Nonetheless, be careful with high leverage, because it also means greater risk of losses.
This broker supports the industry’s standard trading platform, MetaTrader 4, available as a desktop, web version and mobile apps.
MT4 is globally popular, because it is a reliable trading platform and provides all the tools and features a trader needs: a number of technical indicators, advanced charting package, a wide range of Expert Advisers (EAs) and extensive back-testing environment.
Acy Fx web MT4. Click to enlarge.
Methods of Payment
ACY FX offers its clients a variety of deposit/withdrawal methods: via credit card, bank wire transfer, Skrill, and China UnionPay.
Trading conditions offered by Australian brokerage ACY FX are attractive: competitive spreads, commission-free trading and STP execution.
ACY FX Review Conclusion
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