AC Markets- what are they?

Online Forex Trading | Currency Trading | ACM

Can anyone tell me what this company is all about? I received an email from them and had a good look on their site. I don't understand what they are? I rang up a sales person and asked if they are a market maker. Apparently they are not and enter your trades into the market, so in theory they should mind if you win. Sounds fine.

They have fixed spreads (during normal market conditions). How can they make any money on the more exotic pairs where the spread can widen 10's of points in a second?

The spread on USD ZAR at the time of me writing is around 150pts on an ECN. But on AC markets the spread is fixed at 70! If they don't depend on you loosing, and they do enter your orders into the market surely if they pay anywhere near the spread that I am getting quoted at the moment then they must be loosing money?

I'm asking here because when I rang up to ask the sales person said that they could get much tighter spreads then I (a retailer using an ECN) could. That's ok, but I would have thought a ECN would have spreads that where very similar to the spreads that AC would have access to?

They claim that they are using STP which stands for straight through processing.That means that they have their liquidity providers which are major interbank players.Orders from ACM clients in this broker model should be passed straight to their liquidity providers so that match can be found.Also they should receive best bid/ask from their partner banks and offer those price to retail trader.
If they really do that why they are messing up whit price by adding their spread into price?All MM do that,right?
If it is so that they can hook you up to trade whit interbank players why they are not willing to offer interbank spreads and make their $$$ out of the commission?
I am very suspicious to all what i hear from FX spot brokers.FX spot market is kind of wild west in terms of regulation in mine opinion.
Have read your post in which you say that you can trade 300mil..
Did you not think about moving to currency futures on Globex?Think there is liquidity deep enough for you.
And futures market seems to be far more transparent than spot market which i like very much.
If you must stick to spot market here is the link of few FX ECN"s

FXall,Currenex,FX Connect,360 Trading Networks

If you are CTA you can also trade whit Hotspot FXi.
Whit amount you are trading i guess you should not have a problem to find out the way to some of above stated ECN"s marketplaces.
Just mine 2c.

VTK

Many thanks for the reply VTK!

I am suspicious as well! Hence the reason for my post. I am not thinking of going with them, I prefer to have regulation in the UK. I was just curious because I thought there were only MM and ECN’s not a mixture of both which this appears to be.

I am with FXCM active trader and am happy using them for now, although I would like to pay less commission hence my other thread. I said that I expected to be trading around 300m PCM soon. Currently it’s about 150-200m, which is still fine if I did decide to go with a ECN.

I have thought about moving to Globex and from what I know there are definite advantages; I may swing round to have a closer look.

Cheers.

ACM = Police raid

Swiss Business in English: Police raid Geneva forex firm in fraud probe

Rossini said:

Many thanks for the reply VTK!

I am suspicious as well! Hence the reason for my post. I am not thinking of going with them, I prefer to have regulation in the UK. I was just curious because I thought there were only MM and ECN’s not a mixture of both which this appears to be.

I am with FXCM active trader and am happy using them for now, although I would like to pay less commission hence my other thread. I said that I expected to be trading around 300m PCM soon. Currently it’s about 150-200m, which is still fine if I did decide to go with a ECN.

I have thought about moving to Globex and from what I know there are definite advantages; I may swing round to have a closer look.

Cheers.

Click to expand...

if u want UK regulated go with IGforex they offer direct access with 35 $/m , and they can go lower for high volume traders ...

I have traded money with them.... Took it out fast Demo is fantastic though... drew me in

Basically what happens is it goes though a dealing desk and they put HUGE trades against your position as ACM is mainly set out for people who dont know what there doing and gamblers. After ive said this look at there website and you will see what i mean !!! They also do mess with spread which ultimately messes with the spreads... then your margin gets way too low positions liquidate.. your out of money BUT because the trades go though a dealing desk they keep what you loose Simple as that !!!!!!!!

Not great

Jack

Trading methods need to change then?.....

Unfortunately many have complained about brokers and their nasty little dirty secrets of taking trades against their clients. In reality isn't the ENTIRE market trading against you anyway? NO ONE person wants to lose so every trade you take is a winner right?!

What usually happens is that market action moves larger than your stop and you get taken out, then you blame the broker. Call them dirty dealers and such.

Trading is all about winning and all about losing. There is no one to blame but yourself. AC M are fine I trade with them. They wire my money back to me no problems. Sure I lose a stop or two, thats ok cuz it's ME who clicks the BUY button isn't it? To say you prefer UK regulation or NFA rugulation over Swiss regulation is like calling the Swiss regulatory body LAME, and assumes you are not a very good trade. After all Bernie Madoff was in the US and took away Billions before the NFA finally found out. Many of his victims were from the UK and abroad. Where did regulation help them?

The real utmost important question to answer is will they wire your money back to you when you do win?

That is the question that counts the most.

If you're worried about a few pips difference in price over another access broker etc.. You probably shouldn't be trading at all

No matter what they do not have enough money to influence the market against you for your measly lot or mini lot. The Swiss Central Bank may but ac m will not have that kind of capital.

forexreviewking said:

I have traded money with them.... Took it out fast Demo is fantastic though... drew me in

Basically what happens is it goes though a dealing desk and they put HUGE trades against your position as ACM is mainly set out for people who dont know what there doing and gamblers. After ive said this look at there website and you will see what i mean !!! They also do mess with spread which ultimately messes with the spreads... then your margin gets way too low positions liquidate.. your out of money BUT because the trades go though a dealing desk they keep what you loose Simple as that !!!!!!!!

Not great

Jack

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I Hear what you are saying, the wire transfers are slick i agree ! BUT a person who used to work at acm is a personal friend of mine, and i know exactly what goes on behind those close doors and good spreads

Jack

If your friend used to work for them

So how about shooting out a better broker? If they do back room dealings and nasty little tricks - Could you post a good honest broker?

forexreviewking said:

I Hear what you are saying, the wire transfers are slick i agree ! BUT a person who used to work at acm is a personal friend of mine, and i know exactly what goes on behind those close doors and good spreads

Jack

Click to expand...

c_c405 said:

So how about shooting out a better broker? If they do back room dealings and nasty little tricks - Could you post a good honest broker?

Click to expand...

there is plenty for example Interactive brokers , and if u want market maker IGmarkets , i prefer brokers in the UK cuz they r regulated by the FSA and this give me protection up to 48000 pounds for every account ( i am talking about forex here ) ...

Funds in Swiss bank accounts are protected up to CHF. 100,000 per account, that is to say that it is not "The" client alone who is protected up to 100,000.- but each of his accounts. given the continuous yo-yoing of the CHF/GBP it equates at more or less the same as £48,000 for the UK accounts (except Gurnesey which gives NO protection of funds!) Now as you know, ACM amongst another 2 Swiss brokers, will soon be receiving their banking license under the new FINMA requirements, add no tax on capital gains, banking secrecy, and you will see why it has become very interesting again to look at Switzerland for FX. Talking about ACM, they were just awarded, in London strangeley enough, a "Best Online Currency Trading Services" award.

ACM Awarded "Best Online Currency Trading Services"! | SYS-CON AUSTRALIA


GENEVA, May 5 /PRNewswire/ -- In April 2009, ACM (ac-markets.com) was awarded "Best Online Currency Trading Services" by World Finance at the London Stock Exchange

The World Finance Awards were created in 2007 to identify industry leaders that represent the benchmark of achievement and best practices in the Financial & Business World.

Based on criteria such as innovation, quality of products and market development established by the World Finance panel of independent awards adjudicators, 40'000 industry decision-makers designated ACM as the 2009 winner.

ACM considers this prestigious award as an incentive to continue exceeding its clients' expectations.

Since its creation, ACM has been growing continuously and now has offices in Geneva, Zurich, New York, Dubai and Montevideo.

duxis said:

ACM = Police raid

Swiss Business in English: Police raid Geneva forex firm in fraud probe

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Hey, look what my friend just sent me from swizerland. It is written in the Bilan financial markets magazine, hope you understand French but in short it says;

" After the intervention of 28 inspectors at the Geneva offices of currency exchange brokers ACM, the law's administration has found nothing..."


www.bilan.ch/top-secret/acm-dénoncé-pour-rien

ACM DÉNONCÉ POUR RIEN
Malgré l'intervention de 28 inspecteurs dans les bureaux genevois du courtier en devises ACM, la justice n'a rien trouvé. Un client mexicain s'était plaint de cours peu attrayants l'après-midi et d'une réduction de sa ligne de crédit."Tout le monde sait qu'il y a moins de liquidités en fin de journée", relève un cambiste.