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AC-markets (ACM) in Switzerland - safe?

  • #41
  • Aug 21, 2006 10:38pm Aug 21, 2006 10:38pm
Hi guys,

Just checking out a new broker...ACM!! Even though you need $5000 to open an account, and they don't have mini trading, on their website they guarantess all fills in ALL market conditions!! Most brokers gaurantee it only in normal market conditions, but apparently they say no slippage or requotes...Does anybody trade with them that have any opinions or has anybody heard bad info regarding them?? greatly appreciated....thanks
  • #42
  • Aug 22, 2006 4:34am Aug 22, 2006 4:34am
Hey man welcome to the forum.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o> </o>

First of all to answer your question I got to say that I do trade with them and I am quite satisfied with the service they provide.<o></o>

This said (if you are new to forex) you have to understand that forex brokers are not in business to be your friends. They will make money out of you! These are the rules of the game. Once you come to accept this and play the game as it is you will see that it can be also extremely profitable for you.<o></o>

The only real advice I would give you is to start slow, first with a demo account, and then with the smallest account possible. Trade for a while, evaluate your relationship with the broker, try to withdraw some funds, etc. If you are satisfied, then open a bigger account. <o></o>

Just beware of brokers that offer too big leverage (like 400:1) or guaranteed profits as they are probably just trying to rip you off.<o></o>

Good luck for your choice!<o></o>

I.<o></o>

  • #43
  • Aug 22, 2006 11:55am Aug 22, 2006 11:55am
Quoting Gladiator
Hi guys,

Just checking out a new broker...ACM!! Even though you need $5000 to open an account, and they don't have mini trading, on their website they guarantess all fills in ALL market conditions!! Most brokers gaurantee it only in normal market conditions, but apparently they say no slippage or requotes...Does anybody trade with them that have any opinions or has anybody heard bad info regarding them?? greatly appreciated....thanks
Did you read the previous 3 pages of posts on this thread?

Did you do a search on this forum and others??

That would be a good start...............
Profit is where readiness meets Opportunity
  • #44
  • Aug 23, 2006 8:38am Aug 23, 2006 8:38am
ACM rep just called me a few hours ago. I told them I am a news trader and they dont mind; they allow news trading. The rep even claim to guarantee fills on entry, stops and limits. He even guarantee that the spreads is just 2 pips extra during news - hmmm or was it 2 minutes before the news?

Seeing that some of you who have news traded with ACM is displeased with their enlarged spreads of 22 pips even for a minor CAD news suggests that ACM is not for the news trader. That could be worst than FXCM which only monitors NFP, CPI.

I think I know where not to look for.
  • #45
  • Aug 23, 2006 4:04pm Aug 23, 2006 4:04pm
Quoting BurgerKing
ACM rep just called me a few hours ago. I told them I am a news trader and they dont mind; they allow news trading. The rep even claim to guarantee fills on entry, stops and limits. He even guarantee that the spreads is just 2 pips extra during news - hmmm or was it 2 minutes before the news?

Seeing that some of you who have news traded with ACM is displeased with their enlarged spreads of 22 pips even for a minor CAD news suggests that ACM is not for the news trader. That could be worst than FXCM which only monitors NFP, CPI.

I think I know where not to look for.
UPDATE
I have few problems trading ACM on non news trades. And yes they do gaurentee fills, BUT during news, here is a favorite. - News comes out and you enter the market, but instead of a green confirmation box you get a yellow one. While this yellow box is up, the platform is frozen. You can watch the trade go 30,40 or even 50 pips in your favor but your postion is not on the screen, just the yellow box. Then, next thing you know, the market reverses and starts to go against you. Just about the time you realize you are 20 down in a loser you get the green box. Good news your trade was accepted. Now you can take your loser.........................................................
Get the picture????

How is that for a gauranteed fill???
Profit is where readiness meets Opportunity
  • #46
  • Aug 23, 2006 6:15pm Aug 23, 2006 6:15pm
FYI


checked ACM platform out few mins before release. EST.

18.41 9 pips
18.42 9 pips
18.43 9 pips
18.44 30 pips
18.45 30 pips
18.46 30pips
18.47 30 pips

after a few minutes the spread had returned to 4 pips.

make of that what you want to.

I do not news trade, I just want people who do to know what they will have to deal with if they do, especially someone who may be new to forex.

happy trading.
L1
  • #47
  • Aug 23, 2006 6:26pm Aug 23, 2006 6:26pm
If anyone needs proof I think this is it.


After news release price hangs around resistance line 0.6363. time...19.16 EST.

Price broke resistance at 19.17 and guess what happened to spread!!! It went to 30pips. Lasted for about a minute.

Correct me if I'm wrong, but there was no news at this time, just a technical break through.

why should this happen? Reckon if you try to play the break-out, you may have trouble too.

FYI this has happened once before, but I thought just a one off. Hmmmmm

I see a pattern.
  • #48
  • Aug 24, 2006 5:56am Aug 24, 2006 5:56am
Quoting FXopportunist
UPDATE
I have few problems trading ACM on non news trades. And yes they do gaurentee fills, BUT during news, here is a favorite. - News comes out and you enter the market, but instead of a green confirmation box you get a yellow one. While this yellow box is up, the platform is frozen. You can watch the trade go 30,40 or even 50 pips in your favor but your postion is not on the screen, just the yellow box. Then, next thing you know, the market reverses and starts to go against you. Just about the time you realize you are 20 down in a loser you get the green box. Good news your trade was accepted. Now you can take your loser.........................................................
Get the picture????

How is that for a gauranteed fill???
I get the picture. Guaranteed fill indeed!
  • #49
  • Aug 24, 2006 10:59am Aug 24, 2006 10:59am
Today was another example of pretty much the same stuff from ACM.

30 pip spread on the pound
20 pips on the other majors

Platform froze prior to data, Platform started working agian as soon as data was released. Price movement was extremely lazy and really did not move till the move completely retraced (a classic).

The MB platform I just opened worked very well today. This made me happy because existing home sales on Wednesday MB widened about 8- 10 pips and the pirce action was very lazy. Not so today.
Profit is where readiness meets Opportunity
  • #50
  • Aug 31, 2006 9:40am Aug 31, 2006 9:40am
I have not seen widened spreads on any of this weeks data. Setting me up for non farm ????? LOL

The last 2 months have also been an ongoing problems getting my wire transfers. SCARY !!! I have to follow up over and over to get it done.

I really don't know what the heck is going on over there but they went from great broker to a total cluster in a hurry.
Profit is where readiness meets Opportunity
  • #51
  • Edited 10:44am Aug 31, 2006 10:33am | Edited 10:44am
FXopportunist, <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>

I haven’t seen the behavior you mentioned, I was on holidays. Anyways, next time you’d better do a print screen.<o></o>

The spread is normally controlled by the liquidity provider especially with the STM system.<o></o>

Which broker are you now trading with? I got to see with my eyes if it’s better than ACM.
  • #52
  • Sep 1, 2006 9:30am Sep 1, 2006 9:30am
Quoting ilidio
FXopportunist, <o></o>

<o></o>

I haven’t seen the behavior you mentioned, I was on holidays. Anyways, next time you’d better do a print screen.<o></o>

The spread is normally controlled by the liquidity provider especially with the STM system.<o></o>

Which broker are you now trading with? I got to see with my eyes if it’s better than ACM.
Hello ilidio,

Don't worry about missing out on the widened spread. I was told by ACM that they are here to stay. I am also under the impression, based a few thing that I have read, that UBS is now calling the shots on ACM trading now. I believe that they may now be ACM's exclusive liquidity provider. If this is true, no good can come of it. Primarily, I have been Trading with MB Trading lately. It is a different kind of thing from the old standard IB and I think I like it. MB price action has been slightly faster and the platform is completely stable, which is somthing that ACM has never been for me.
As for the print screen I did several to see what ACM would say about it. It was a waste of time because they admitted to all of it and said that is the way it is now due to market conditions. As for all of the failed executions and freeze ups, they always say the same thing. It was a problem with the Java and it is fixed now- sorry for any inconvenience. I lived with all of that in the past but, not anymore. I have had enough.
Profit is where readiness meets Opportunity
  • #53
  • Sep 6, 2006 4:51am Sep 6, 2006 4:51am
FXopportunist,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

MB trading?? I don’t know those guys too well, but I am under the impression that they are new to the forex, right??<o></o>

I also think that they don’t even own their own platform, which means that they have to rent it to someone (another additional cost). The worst is that when you have problems with the platform their trading desk will not be able to help you as they will be calling the guys who rented them the platform. They have no power over what happens to the platform. <o></o>
Then who do you think they will attend to first in a case of a problem? Of course they will help their big clients and the small fish will just sits down and wait while the market is just going and filling their stops. I think a broker with their own software is a must condition.<o></o>
What about their margin? Is it constant (weekends and overnight)???<o></o>

Concerning the widening of the spread the truth is that is how the market works! The account is on STP therefore you are dealing directly with the banks. The spread given by the banks does get widened when the news are out (just a simple matter of demand/offer). Now unlike other brokers that just freeze your platform half an hour before the news ACM actually allows you to trade and does guarantee your orders. All my orders were filled so far; and if there is a spread increase in never more than a few second.<o></o>

To play the forex business one has to understand it. There are bad brokers out there and they will rip you off. But we should be glad that there are famous brokers out there (like ACM, FXCM, Saxobank), because they allow the retail clients a piece of the pie.<o></o>
  • #54
  • Sep 7, 2006 8:03am Sep 7, 2006 8:03am
Quoting ilidio
FXopportunist,<o></o>

MB trading?? I don’t know those guys too well, but I am under the impression that they are new to the forex, right??<o></o>

I also think that they don’t even own their own platform, which means that they have to rent it to someone (another additional cost). The worst is that when you have problems with the platform their trading desk will not be able to help you as they will be calling the guys who rented them the platform. They have no power over what happens to the platform. <o></o>
Then who do you think they will attend to first in a case of a problem? Of course they will help their big clients and the small fish will just sits down and wait while the market is just going and filling their stops. I think a broker with their own software is a must condition.<o></o>
What about their margin? Is it constant (weekends and overnight)???<o></o>

Concerning the widening of the spread the truth is that is how the market works! The account is on STP therefore you are dealing directly with the banks. The spread given by the banks does get widened when the news are out (just a simple matter of demand/offer). Now unlike other brokers that just freeze your platform half an hour before the news ACM actually allows you to trade and does guarantee your orders. All my orders were filled so far; and if there is a spread increase in never more than a few second.<o></o>

To play the forex business one has to understand it. There are bad brokers out there and they will rip you off. But we should be glad that there are famous brokers out there (like ACM, FXCM, Saxobank), because they allow the retail clients a piece of the pie.<o></o>
I have heard all these sales pitches before MANY MANY times.
So what exactly is your positiona at AC-Markets????

I have read all of your posts, I think I am right on this one, no?
Profit is where readiness meets Opportunity
  • #55
  • Sep 7, 2006 8:16am Sep 7, 2006 8:16am
Quoting fingotrader
Hi,

Im about to start an account with these and to transfer a good chunk of cash to them. Just came across some articles here, which wasen't positive all of them Are they ok, and stable? Good financials? Safe? ( I mean due to all the talk regards to Refco..)

Thanks in advance for any advice,

PF
Go to www.forexbastards.com, the reviws there would make anybody think twice, hope this helps,
best regards
Ray
  • #56
  • Sep 7, 2006 8:37am Sep 7, 2006 8:37am
Last night 30 pips spread was enough for me to decide! I am out!!
I joined them because they told me they are designed for this type of trading. I ask last night why their spreads were 30 and other brokers 7-10. AMC responded, that other brokersl have slippage and thats not the actual price I'd get. I responded, who cares about slippage when I cant even trade because spreads are to high. No response back.

This was the 4th strike. Twice I had the platform feed freeze once I was in profit and had to call the trading desk. And mysteriously the price goes against you 2-4 pips the second you enter a trade. Is that called spotting?

Anyways stay away.
  • #57
  • Sep 7, 2006 8:42am Sep 7, 2006 8:42am
WHO CARES ABOUT SLIPPAGE????<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

Well I do, and I bet any read trader out there!!!<o></o>

I rather have a 30 pips spread and KNOW THAT IT IS THE REAL PRICE, than clicking to buy at the price on display just to find out that I was FILLED 30 PIPS away!!!! GEESSSSSSS<o></o>
  • #58
  • Sep 7, 2006 8:47am Sep 7, 2006 8:47am
http://www.forexfactory.com/forexfor...ead.php?t=7349

This is a must read post before bitchin
  • #59
  • Sep 7, 2006 10:50am Sep 7, 2006 10:50am
Well ilidio,
You chose to address me personally so.................here is my replies.




Quoting ilidio
FXopportunist,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

MB trading?? I don’t know those guys too well, but I am under the impression that they are new to the forex, right??<o></o>

Then who do you think they will attend to first in a case of a problem? Of course they will help their big clients and the small fish will just sits down and wait while the market is just going and filling their stops.

This is perfect example of exactly what ACM does. I have actually had your representatives say " I can't deal with this now, we are very busy !" And just hang up on me while I was trying to close a position because your platform was FROZEN !


Concerning the widening of the spread the truth is that is how the market works! The account is on STP therefore you are dealing directly with the banks. The spread given by the banks does get widened when the news are out (just a simple matter of demand/offer).

Unfortunately for you, the people on this forum are far too knowledgeable to buy that pitch. We have all seen ECN platforms from companies that have multiple liquidity providers and We KNOW that your spreads are artificial.
I have no doubt that your spreads are dictated by your liquidity providers, or should I say provider???

Now unlike other brokers that just freeze your platform half an hour before the news ACM actually allows you to trade and does guarantee your orders. All my orders were filled so far; and if there is a spread increase in never more than a few second.

Now this is a classic. I can honestly say that over the years ACM's platform does not freeze bofere the news very often.
BUT, instead your platform freezes after you are in the trade.

To play the forex business one has to understand it.
But we should be glad that there are famous brokers out there (like ACM, FXCM, Saxobank), because they allow the retail clients a piece of the pie.

We are so thankful that you are so generous as to accept our money. It is interesting that you mention those exact 3 brokers hmmmmmmmm. I have no experience with saxo bank but the similarities between ACM and FXCM are growing.
<o></o>

Now, So I may be perfectly clear. Everything said above by me are specific points on specific issues.

I have no problem with ACM. I still trade with them.

They are acceptable as long as you don't trade the news. But I just can't stand when people try to buffalo the community a rosie picture that just is not so.
I am a huge advocate of TRUTH and FACT. There has been a ton of stuff written in this forum for all who wish to search and read about FCM's, ECN's. You are claiming STP- Straight through processing. watching your manipulated spreads leads us all to the question STRAIGHT THROUGH TO WHO? If, for example you have only one liquidity provider - say UBS for example, would that make ACM just a white label for a bucket shop bank??????

Now to be further clear on my position,

I don't care if how you provide your your service as long as it is a fair trading environment with accurate prices and good fills

OK, I think that is everything.

THE OPPORTUNIST
Profit is where readiness meets Opportunity
  • #60
  • Sep 11, 2006 6:55am Sep 11, 2006 6:55am
FXopportunist,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>
I don’t offend people just because they have a different opinion. You did it, so I hope this is the last time I will address you in this forum. And I sure hope you will do the same as I have no will of discussing anything with you.<o></o>

To make things clear, because my honor was under attack and from where I come from honor still means something, I have to say that I do not work with ACM, nor I work with any other broker. I wonder if you can say the same!?<o></o>

Then I really don’t understand how can someone that has said the following words:<o></o>

Quoting FXopportunist
<o></o>
Quoting FXopportunist

I use ACM out of <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region w:st="on"><st1lace w:st="on">Switzerland</st1lace></st1:country-region>. They only accept full size accounts. So, not an option for beginners. My reasons?: 1. One click dealing 2. Instant execution 3. Guaranteed fills. 4. No negative balance guarantee. 5. The simple and clean platform suits me.
I find them to be annoyingly arrogant on the phone (i have been told by others that americans often find french speaking cultures arrogant.). But, they have treated me fairly and honestly for years.
<o></o>

<o></o>
accuse anyone else of being with ACM.?!? That and saying that FXCM and ACM are the same thing!! How can someone think that the two biggest competitors (along with saxobank) are actually the same company??? I like a good conspiracy theory, but enough is enough!<o></o>

If you are frustrated with ACM why do you still trade with them? I tell you that the day I feel like I am being ripped off, badly treated or just deceived I will cancel my account straight away. There are tons of brokers out there just go with any other one!<o></o>

Now I do have an account with ACM until they do something to make me change my opinion I won’t just start bitch about them, just because its cool, or just because someone in the forum is trying to scare me away.<o></o>
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