What is ACM's agenda?

[Torch]

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?

 

[josbarr]

ACM make a big deal of being the last of the retail shops to offer
"Guaranteed fills in ALL forex market conditions."

Dont they send out disclaimers " except during extreme market volitility"?

 

[MineralWater]

They increase spreads (even 30 pips have been noted) during volatile times. So much for guaranteed fills...

I doubt I'd use them even if they were the only FX broker on earth.
Luckily, there are others.

 

[JP1966]

I still wouldn't use them if they were the only FX broker on earth!

 

[hagadol]

Could I have some feedback on AC Markets ?

Interested in the Guaranteed fills and no requests. Also 2 pip spread on Euro spot if you start with a deposit of $50K or more.

Have pasted in below there sales pitch.


2-3 pip spreads on all the major currency pairs. Namely EURUSD, USDJPY, USDCHF, GBPUSD.
"WYCIWYG" (what you click is what you get). The price you click on is the price you're executed at, in other words, no slippage whatsoever.
No request for quote (RFQ). Users click on a live streaming price feed, no requotes whatsoever even in fast markets, no timers and no dealer intervention, the only broker in the world offering pure one-click dealing. See execution methodology.
Guaranteed fills on both limit and stop orders.
No commission whatsoever.
1% margin trading or 100:1 leverage.
2 online trading platform for maximum flexibility.
No negative balances - limited risk. With ACM your risk is only limited to funds or deposit. Our unique, automatic margin liquidation policy eliminates concerns about debit balances by guaranteeing that you will never owe more than you have in your account.
The most visited online fx dealer in the world. See traffic ranking.
Consistent liquidity under all market conditions. ACM works with only the top institutional liquidity providers in the world providing over 55% of worldwide foreign exchange liquidity on our platform.
USD 5000 minimum account opening.
24 one click tradeable currency pairs.
Spot gold and silver trading.
24/24 hours online trading and phone dealing from Sunday to Friday.
Proprietary trading software, not rented or bought, guaranteeing the most competitive pricing and execution to our customers.
Instantaneous execution, no confirmation delays.
No downloading needed on Flash platform, instant access from anywhere, home, office or internet café, no firewall problems.
Fully secure and robust online dealing platform: 128 bit SSL encryption.
Integrated technical analysis & real - time charting tools.
Integrated live news feed - Streaming real time market news.
Integrated real time account management and reporting, margin analysis, P&L, deal confirmation, market analysis & back-office reporting marked to market every second.
Same conditions on demo and live platforms.
ACM regulated by the Swiss federal department of finance.
ACM audited by Ernst & Young.
Swiss based therefore no capital gains tax on foreign exchange profits.
USD, EUR, GBP, CHF or JPY denominated accounts.
ACM customers benefit from technical and fundamental fx reports from our affiliates at substantially reduced rates.
Extremely user friendly and fully transparent account statements.
Management ex Swiss bankers & market professionals.
Very rapid and discreet customer service.

 

[Spreadbetteur]

Anyone been trading with ACM recently ?

If yes, how is it going ?

 

[igor123]

Anyone been trading with ACM recently ?

If yes, how is it going ?

During last NFP spread on cable was 70pips for about 5min.

 

[titas]

If you still want to have a deal with ACM - me advice, - be very cearful!!! They are crook