Beware! Acy Securities is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
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Acy Securities is a Forex brokerage registered in Australia It provides the MT4 trading platform and a wide range of trading products. The required minimum deposit is quite low and favorable at only $100 and the spread on EUR/USD is 1 pip which is below the industry average.
Acy Securities regulation & safety of funds
As was noted above – the website of the brokerage does not contain clear corporate information. We read that the company behind the brokerage is registered in Australia and licensed by the Australian Securities and Exchange Commission. Here is a screenshot:
The Australian authorities keep and update a rigorous online registry. We were able to run a search on the company number. As you can see – the corporate information presented on the website seems to be legitimate and there is an Australian licensed company by the nameACY Securities PTY LTD. This menas that the brokerage assures its clients of its legitimacy by following the strictest regulatory standards. The company is licensed by the Australian Securities and Investments Commission with an AFSL license number 403863. ASIC is one of the top regulatory agencies in the world. Brokerages licensed by it have to comply with rules such as a minimum starting capital of $730 000 which gives assurance for financial stability. Furthermore, companies that fall under the regulatory oversight of ASIC take part in a financial mechanism by which losses may be compensated in the unlikely event the brokerage goes bankrupt. We always recommend readers deal only with regulated brokerages that have been issued licenses by top-notch agencies such as CySEC or The Financial Conduct Authority of the UK which is also among the foremost regulators in Europe and also requires a minimum capital of €730 000. There is also a compensation scheme set up which may recover clients losses up to €85 000
Acy Securities trading software
Putting that aside, the brokerage states that it provides a web-based trading platform. However, the MetaTrader4 is not among the supported terminals which is something we do not highly appreciate. Nonetheless, we weren’t able to register for a demo account which we always view as a huge disadvantage since it is the most secure and verifiable way in getting a hold of the trading conditions of the broker. We are further not given any information regarding the spread and the leverage extended to traders. The required minimum deposit is the absurdly high figure of $2000 and highly unfavorable for potential clients of the brokerage.
Acy Securities deposit/withdrawal methods and fees
Apparently the brokerage supports only cryptos as available payment methods. Usually, in Forex trading potential clients of a brokerage may deposit or withdraw only via the standard Visa and MasterCard, as well as bank wire.
Interestingly enough, we read that there are no withdrawal fees, however, this does not mean that the brokerage might charge some unexpected fees. This is why we always advise traders to put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.