Interesting reading the hedging thread below where mention is made of ACM being the only
retail shop to offer this facility-
"ACM's new java platform allows long/short positions in the same pair, in the same account."
I was attracted to ACM (Advanced Currency Markets) last year around about the same time FXCM etc stopped guaranteeing no slippage in volatile market conditions (supposedly due to traders taking advantage of NFP price moves etc) but was put off by some of the very dark stuff in their contract regarding their responsibilities for correcting errors that are not immediately noticed.
ACM make a big deal of being the last of the retail shops to offer
"Guaranteed fills in ALL forex market conditions."
The combination of these two 'USPs' seems to be actively encouraging traders to focus on trying to exploit these moves! (that other shops changed business models to stop us)
Now add in the fact that ACM insist on your opening account being 5000usd even for mini account (compare that to 300usd or so opening accounts elsewhere) which greatly exceeds the rest. Do you see where I'm going with this?
ALSO they are at pains to point out that they are "part of the refco group with 14 billion in assets"- but that will surely be ringfenced from Acm's liabilties should things hit the fan?
So what's that all about?
Does anyone here have any experience of using ACM particularly since they 'joined' the refco group? A forum like this might be the best way we can get some kind of communal feel for what they are all about; am I just being too suspicious?
retail shop to offer this facility-
"ACM's new java platform allows long/short positions in the same pair, in the same account."
I was attracted to ACM (Advanced Currency Markets) last year around about the same time FXCM etc stopped guaranteeing no slippage in volatile market conditions (supposedly due to traders taking advantage of NFP price moves etc) but was put off by some of the very dark stuff in their contract regarding their responsibilities for correcting errors that are not immediately noticed.
ACM make a big deal of being the last of the retail shops to offer
"Guaranteed fills in ALL forex market conditions."
The combination of these two 'USPs' seems to be actively encouraging traders to focus on trying to exploit these moves! (that other shops changed business models to stop us)
Now add in the fact that ACM insist on your opening account being 5000usd even for mini account (compare that to 300usd or so opening accounts elsewhere) which greatly exceeds the rest. Do you see where I'm going with this?
ALSO they are at pains to point out that they are "part of the refco group with 14 billion in assets"- but that will surely be ringfenced from Acm's liabilties should things hit the fan?
So what's that all about?
Does anyone here have any experience of using ACM particularly since they 'joined' the refco group? A forum like this might be the best way we can get some kind of communal feel for what they are all about; am I just being too suspicious?