Please recommend me a non-USA hedging MT4 broker

By the way, whatever happened about the Swiss Police raid on the ACM offices on Apr 6, 2009? ("Disturbing news out of, where else; Switzerland, that the police have raided the offices of Swiss forex broker ACM for possible fraud. You’ll remember ACM fled the U.S. after they failed to come up with enough capital to stay in business.")

What was the outcome of this news release?

Whoops, sorry folks. I read further and found this:

"On Thursday the 2nd of April, on the basis of counterfeit documents produced by a former client, the authorities in Geneva visited ACM’s offices. Collaborating in a transparent and active way, ACM delivered all information required. All elements prove ACM’s good faith and it remains clear that the company has fallen victim to a former client bent on malicious intent. In return, ACM has lodged a complaint against this former client with accusations of blackmail, defamation and forgery of documents."

It appears that ACM is a good company in good standing!

ACM are a the right broker for me. Yes you can hedge with them, and scalp etc. To be answering enewbold, funding is easy with PayPal method and they pay for me the fee from PayPal as well. Refund of profit is also as quick. You know to that soon they will have the banking license, this will be added security for your funds.

FXCM UK?

Where did you find that quote?

Thanks for the info guys, I suppose I'll look at these brokers, for my hedging strategies.

ODLSecurities like ACM did not have the money for their USA operations. If they were to be an FCM they needed 20 million. However, ODL would easily have 20 million between or their branches and offsetting brokerage partners.

So,

1. ODL in its many different countries.
2. AxisODL in Australia.
3. FXCM in the UK or Australia
4. ACM in Switzerland
5. Alpari in the UK.
6. ActivTrades in the EuroZone.
7. MIG in Switzerland.

Do well I am outta here...

I got it from:
http://www.forexpeacearmy.com/forex-...lice-raid.html



And here is additional info from:
http://www.swisster.ch/en/news/busin...es_116-1455728

ACM answers back as fraud probe continues

by Malcolm Curtis
Geneva - 06 April 2009 | 12:51
A New York-based currency trader explains why a Mexican bank lodged the complaint that led to last week’s police raid on Geneva-based online trading company ACM in a suspected financial fraud case. However, in a statement to Swisster, the firm is countering the allegations with charges of its own, accusing a disaffected client of blackmail, defamation and forgery of documents.

A complaint by MexBank over allegedly fraudulent currency trading is at the root of a police investigation launched last week into the operations of Geneva company Advanced Currency Markets (ACM), according to a New York trader familiar with the affair.

As revealed by Swisster on Friday, a squad of 28 Geneva police officers from the financial fraud brigade entered the offices of ACM at 50, rue du Rhône, and seized documents, a computer and other potential evidence, while investigators questioned half a dozen officials from the company.

ACM has denied any wrongdoing, claiming to be the victim of false information provided by a vengeful former client.

Ilya Paniotov, a New York currency trader who traded with ACM for almost three years, told Swisster on Monday that the company “cheated” clients through its computerized trading platform. It used falsified currency prices, widening spreads and changing “margins,” the money required to execute trade, he alleged.

“I feel it was totally illegal,” said Paniotov, a native of Russia who said he has worked as a currency trader based in the US for the past eight years after working as a computer programmer. Paniotov, who said he traded currencies with ACM on behalf of MexBank, flew to Geneva last week to provide testimony to Geneva police about his concerns.

However, ACM issued a statement Monday denying any wrongdoing, saying it was the victim of a former client “bent on malicious intent.” The statement, issued by ACM managing director Nicholas Bang, said that the company “lodged a complaint against this former client with accusations of blackmail, defamation and forgery of documents.”

Bang said police visited ACM’s offices on Thursday “on the basis of counterfeit documents produced by a former client.” The company delivered all the information required, “collaborating in a transparent and active way,” Bang stated. “All elements prove ACM’s good faith.”

Paniotov remains convinced of his case and cannot believe that ACM is carrying on as if it’s business as usual. He said his concerns arose in March 2007 after he managed two different accounts with ACM. He noticed that currency trades conducted at the same time on the accounts yielded different prices. ACM told him it used different “liquidity providers,” or banks, to transact the currency deals, he said.

Paniotov was also concerned about the company raising margins, without warning, requiring clients to pay a large infusion of cash in order to continue trading. After he raised complaints, ACM eventually blocked him from trading. Paniotov said a former trader from ACM later provided him with computer “screen shots” showing the discrepancy between different euro-dollar trades executed at the same time.

Paniotov said MexBank launched proceedings against the Geneva company after losing millions of dollars in trades. The bank hired a lawyer and private investigators before contacting Swiss authorities, which led to last Thursday’s police raid, Paniotov said.

None of the allegations have been proven and police spokesman Patrick Pulh told Swisster on Friday that the case, under the direction of examining magistrate Vincent Fournier, might take weeks to complete.

But ACM is already taking a beating from Forex Peace Army, a chat room devoted to discussing foreign exchange scams, which has published several complaints about the company, including at least one from a former unidentified employee.

“Stay as far away away (from ACM) as you can if your money means something to you,” the ex-employee said. However, mixed in with negative comments there is positive feedback too. Katalin Kovacs, from Lausanne, for example, praised the ACM trading platform, calling it “excellent for serious trading people.”

Swisster initially contacted ACM on Friday in an effort to get a comment with regard to the reported arrest of company employees, based on information passed on by an employee.

Bang, ACM’s deputy general manager, replied with an email received after the press deadline. “I am one of the directors and owners of ACM,” he said. “I can confirm that no individual employed by ACM has been arrested now or in the past,” he said. “I'm afraid the information you have is quite ludicrous and clearly incorrect.”

The case comes after ACM, billed as the world’s largest online currency trading company, applied to Swiss financial authorities in March for a banking licence. Founded in 2002, the company employs 130 people with offices advertised in Zurich, Dubai, Montevideo and New York.

According to the Tribune de Genève it manages trades exceeding 100 billion dollars. One of the company’s founders, Alexandre Axarlis, told the newspaper last year that its annual revenues hit 70 million francs in 2007.

Looks like FXDD is bucking this NFA ruling at least for the time being.

Please post any comments pro/con.

http://www.fxdd.com/en/about-fxdd/en...ash=574e11a241

If FXDD is able to do it, i think other NFA broker will follow.

To enewbold and FX Reaper.

Where to start, so much important points to mention. As you may all be aware, I am a long time satisfied client of ACM. Good, that is out of the way.

enewbold, you came on here with the intent of finding out information on ACM. You wanted to know from another member the following;...I have some specific questions about funding a new live account with them, and then on how to easily and quickly withdraw funds from the account, should I need them. Why do you not contact them with this question? They have toll free numbers on their website, you could even go on their live chat.

You then asked me for my personal experiences with them. Bearing in mind this thread subject, my experiences can only be positive, otherwise why would I be mentioning them to aquaart to concider? Whether you are talking about my experience with their Customer Support, with my account representative, their award winning platfroms or the ease of PayPal funding (fee covered by ACM on top of that), it has all been really straight forward and above all very professional. Yes, I fund to my account from my US bank account and the profits are returned to the same one...it is that easy. The platforms are extremeley reliable...the most important thing any trader is looking for would you not agree?

Finally, and again for you enebwold, for somebody wanting to know stuff on ACM, you obviously did a little research on the broker yourself. You went on the FPA website where you found a certain posting from Swisster on the police visit to ACM. That's as far as your due diligence went? You either blindly stopped your research there, or stupidly forgot to mention all the further evidence that was posted after this date. Let us highlite the same report this way,


ACM answers back as fraud probe continues

A complaint by MexBank over allegedly fraudulent currency trading is at the root of a police investigation launched last week into the operations of Geneva company Advanced Currency Markets (ACM), according to a New York trader familiar with the affair.

Ilya Paniotov, a New York currency trader who traded with ACM for almost three years, told Swisster on Monday that the company “cheated” clients through its computerized trading platform. It used falsified currency prices, widening spreads and changing “margins,” the money required to execute trade, he alleged.

However, ACM issued a statement Monday denying any wrongdoing, saying it was the victim of a former client “bent on malicious intent.” The statement, issued by ACM managing director Nicholas Bang, said that the company “lodged a complaint against this former client with accusations of blackmail, defamation and forgery of documents.”

Bang said police visited ACM’s offices on Thursday “on the basis of counterfeit documents produced by a former client.” The company delivered all the information required, “collaborating in a transparent and active way,” Bang stated. “All elements prove ACM’s good faith.”

None of the allegations have been proven and police spokesman Patrick Pulh told Swisster on Friday that the case, under the direction of examining magistrate Vincent Fournier, might take weeks to complete.

Now enewbold, the same reports, plus French ones, can be found on the far more reputable FX Street website. But let us return to your choice of news leader, FPA. You also omitted the further information posted there, the information that solidifies further the Swisster news report, this you forgot to post too . These further reports are all about the ex-ACM client MexBank. Are you aware that the owner set up this "Bank" (reportedly, Mexico does not recognise it as such) to launder money? That it was also used as part of several Ponzi schemes to which the owner has been done for fraud by the SEC in both the US and the UK, many millions of $ of client funds lost in trades, that the owner of one of the MexBank websites is the MexBank (now blackballed) trader ILYA PANIOTOV? These SEC court reports have also been posted on other, more reliable websites.
It would be fair to say that whenever making a serious decission in life all information as well as any important historical facts need to be concidered, ACM has none that are negative, MexBank's reads like War and Peace!Now for aquaart, the information is that ACM did not close down their US office for the reason you stated. In fact the office still exists in NY, the reason of the suspension of offering to open accounts in the US is purely based on the fact that their Swiss banking license application required them to do so, I understand that once they receive it they will be back as NFA registered.

OK, I think I covered it all! I am travelling so if anyone bothers to answer or write more one sided nonsense, it may take me a while to respond. Whoever you are enjoying trading FX with...happy piping!

Have emailed FXDD asking them how they planned to opt out of the no hedging requirement and they responded with a rather mysterious indication that I should wait, that the rule was still "up in the air". They are well known as a reliable broker and might still be world's biggest. But last year American brokers, including FXDD, started messing with the swap rates and, although they never reflected actual swap rates, were still within reason. Now the American ones all seem exorbitant. That's why I'm going with Alpari (UK). Swap is quoted in pips and is @ 1.5 short; 1. long (regardless of countries' respective rates) for EURUSD. (apologies to scarlett for omittting this from earlier psychobable.)

i would recommend ODL

They have a work around on this hedge rule.

FIFO is more dangerous to most traders as the trader will often be required to take off a losing trade first. But I believe thatFXDD will make an announcement this week so I would definitely watch the web site if you don't get their emails.

I have talked with alot of brokers here and offshore. Brokers are very unhappy. If this thing is allowed to take hold, all hell is going to break lose.

How much of an effect will this have on clearing firms? Could no hedging and FIFO put some places out of business because it will force account holders to move overseas? What type of effect will this have on spreads? Will they become highly marked up because they know traders will have no other option but do business with overseas firms?

One of the biggest and most popular US FDM's, Oanda, have never offered buying and selling of one currency pair simultaneously on the same account and they're doing just fine, with some of the tightest spreads (and interestingly lowest leverage) in the business!

The only people this is going to affect are the inexperienced novice nickel-and-dime accounts who think there's some advantage for them to trade long and short on the same pair at the same time. These kind of people tend to be resource intensive as they're the ones who complain the most because they simply don't fully understand how the market or their marketmaker works, they're high maintenance/low return. Unfortunately for bucketshop marketmakers they're also the ones who most frequently lose so if brokers want to continue taking their money they'll have no choice but to find ways to offer them what they want.....just enough rope to hang themselves

To arqaart and enewbold - further to the ACM client/trading/technology information I gave you before, I just found this on another popular forum should you still have an interest in considering them as your broker.

http://au.sys-con.com/node/948263

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.
ACM offers its clients fast, efficient and secure access to four different trading platforms as well as outstanding execution conditions

Thank you for your responses, Joey. I appreciate any and all information regarding the honesty and business integrity of all forex brokers. However, I did not present any "one-sided nonsense." I presented all the info I could find about ACM, presented it to this forum, and then asked for any information that could clarify whether this broker was honest or not.

It appears that they are an upright company, and I am pleased that they have recently won an award for that.

Thanks again for you information, too.
Ed in Columbus, OH.

Does anyone actually read and trust forexpeacearmy? That site and all of his sister sites just seem like a huge scam to me. To each their own...

There are robots that can do registering for you... The robots can even appear to do it through a server that is in an unrelated area to the broker.

All an employee of these brokers has to do is type the messages they think potential customers want to here (free advertising, which company would not do it.)

I take notice of factual things: size of company, regulatory body of company, length of time established, legal claims or conflicts of interest, speed of execution and spreads. I then ask the potential broker these questions and require an emailed response. Consequently I can gain a legal standing if there are any disputes.

1)What is -_-_-_-_-_-_-_-_-_-'s minimum account deposit size and what deposit currencies are allowed?

2)Are there any other commissions or fees that are not built into the spread (such as withdrawal fees etc...)?

3)Does -_-_-_-_-_-_-_-_-_- allow all trades to be hedged?

4)Does -_-_-_-_-_-_-_-_-_- allow all trades to have trailing stops?

5)With -_-_-_-_-_-_-_-_-_- demo prices, are they identical to the live trading prices at all times?

6)Do spreads at -_-_-_-_-_-_-_-_-_- only widen during news trading?

6a i) Do they ever widen during the midnight GMT / Asian session?

6)Does -_-_-_-_-_-_-_-_-_- offer re-imbursements or spread reductions for high volume traders?

7a i) If so, at how many lots traded per month, do spreads get reduced for traders? What size are the spreads?

7a ii) If so, at how many lots traded per month, do re-imbursements start to occur? What size are the re-imbursements?

7)b)The currency pairs that I can see on the demo account, are they the only pairs that -_-_-_-_-_-_-_-_-_- make available when live trading?

8)Does -_-_-_-_-_-_-_-_-_- allow all indicators, EAs and scripts for MT4 to be used at all times?

9a) If not, can you give me a list of indicators/scripts/EAs that you ban or control the use of?

9)How often and when are -_-_-_-_-_-_-_-_-_- trading servers closed down?

10)Does -_-_-_-_-_-_-_-_-_- have an automated instantaneous execution of all trades, or is there a need to go through a trading desk / operator?

11)The standard leverage for each of -_-_-_-_-_-_-_-_-_- account seems to be 100:1,

12a) Does the leverage change as trade account size increases / decreases?

12b) Do you have different lot sizes for what some brokers call 'Standard' and 'Mini' accounts? Such as some brokers have 1 lot moves $10000 for accounts that they term as mini-accounts, while most brokers have 1 lot moves $100000.

13) Where are -_-_-_-_-_-_-_-_-_- servers based?


With a recent newborn baby, I found the same thing in chat forums for nursery products. There was constantly people ranting and raving about the bads of a particular brand and constantly promoting another. Take no notice of promotions or rants and raves. You will notice in my start of this thread that I asked for certain pieces of info that needed to be true for a recommendation of a broker.

My words are:
read, learn, experience, change if you need to, stay if you like it.

There is nothing stopping people from promoting or defaming brokers.

FPA like FF actually have some really good stuff, but, FPA like FF has its flaws / recommended brokers / shady message writers, that can sway the idea of fair speech / discussion.

I like both of them for their trading discussions, and normally sort through the rubbish, especially when it comes to broker recommendations.

ACM appear to be on board. Fact there was a legal case. Fact they have been cleared of wrong doing. Fact some people would still like to keep this awareness in the back of their mind. But my personal judgement is that ACM appear to be good.

But a BIG THANKS for all the recommendations peoples. I'm outta here for good.

I was denied an acount for being a US citizen. Anyone else?

My IE broswer upgrade is not allowing link, so cut and paste.

http://www.forexfactory.com/showthread.php?t=170997





The link is on new order handling for MT5.


Best regards

Dale