Beware! Acmcapitals is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Acmcapitals has a delightful promising website, claims to have the most transparent approach and leading financial innovation. However, as soon as we dug deeper, the broker ended up being a suspected scam. Lack of necessary details, no regulation, inferior platform and misleading information about deposits are some of the inconsistencies we encountered. It’s a dangerous entity, and you can find out why in the full Acmcapitals review.
Acmcapitals REGULATION AND SAFETY OF FUNDS
Acmcapitals is supposedly a Marshall Islands broker, that being so because of the applicable law claims presented in the Terms. That’s a big problem because the island is a shady tax haven with no financial authority, let alone a regulated FX market. The companies legally created there are totally anonymous and can’t provide security for their clients. Moreover, most Marshall Islands brokers are scam schemes, which is possible only because of the regulation deficit. Eventually, your funds won’t be safe if you deposit with Acmcapitals.
Avoid it and better consider the high-rated EU brokers and British brokers on both lists. The European companies are adequately regulated, but most importantly, covered by deposit insurance funds protecting traders and investors’ money. For example, CySEC brokers’ clients can claim up to 20 000 EUR in case of bankruptcy, while the British guarantees are even up to 85 000 GBP. CySEC (Cyprus) and FCA (Britain) licenses are dependable, and you should bear this in mind when looking for investment opportunities.
Acmcapitals TRADING SOFTWARE
Acmcapitals’s software is inferior– a web-based platform that’s ugly and challenging to use. It has fewer indicators than MetaTrader, the charting tools are unreliable, and the sophisticated features are entirely missing. On top of that, the EUR/USD spread is massive- 6.6 pips most of the time, which creates a highly unfavourable environment. Such a Buy/Sell difference makes trading costly by reducing the profit potential, and Acmcapitals turns out to be a shady unregulated broker offering poor but very expensive services. A perfect reason to think twice before making any deposits whatsoever.
To find better opportunities, check the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists. MetaTrader distributions are reliable and provide advanced features such as Expert advisors, many complex indicators, and excellent charting tools, to name a few. The platforms also include a marketplace where traders can discover more than 10 000 apps and third-party developed solutions.
The default leverage is 1:200, traders are not allowed to adjust the ratio by themselves, and we can’t guarantee a change is actually possible. Such a level has excellent profit potential, but the risk boosts, as well. If mishandled, leverage can cause severe losses and many authorities worldwide even impose regulations to restrict its usage. For example, EU, British and Australian brokers have to limit retail clients to 1:30 for FX majors, while the Canadian brokers and the US brokers can’t provide more than 1:50. Swiss brokers are reputable but not leverage restricted, so risk-tolerant traders eligible to open an account can safely go for it.
Acmcapitals DEPOSIT/WITHDRAW METHODS AND FEES
Here we’ll present some evidence of a scam. On the website, Acmcapitals claims that the minimum initial deposit is only $10, but that’s not true. According to the Terms, traders should start with no less than $250, so the broker is knowingly misleading the public. Beware!
The funding methods are Credit/Debit cards and direct Bitcoin deposits. We need to note that cryptocurrency transfers are final, non-refundable, and it’s unknown who is on the other side of the transaction. On the other end, at least on paper, people can dispute bank card transactions and eventually get a refund if things go wrong.
Speaking of deposits, we’d like to offer Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have a preferred e-wallet or a trusted payment system. The high-rated companies are well-regulated, and you won’t face scammers.
The information about withdrawals and fees is scarce, with not many details we can talk through. However, according to the Terms, Acmcapitals process withdrawal requests within 3 days, but they claim to do so within 5 days in the Withdrawal Policy. Well, inconsistencies as such further undermine the broker’s credibility, and the outlook is terrible in the end.
Overall, Acmcapitals is an unlicensed broker and a suspected scam, so you’d better stay away from this suspicious business.
HOW DOES THE SCAM WORK
Swindling brokers and fraudulent websites appear literally every day. Still, most of the new schemes represent a modification of common fraud that’s not typical for the local markets but similar from country to country.
Nowadays, scammers are overcrowding the Internet and social media. The offers scammers make look legit and present exciting opportunities to invest money in the Forex market. Traders would get reassured that the people behind the broker have an excellent track record, who can secure high returns, seamless trading and guaranteed profits. The scammers intentionally make people believe Forex trading is risk-free, but actually, the opposite is true.
In the usual scenario, scammers just steal the money and won’t send a dollar back. Sooner or later, clients would ask for a withdrawal, but the con artists would delay or downright refuse transactions. If traders persist, scammers would find excuses to deny and would even ask for more money or directly cut the communication. Whatever the case, traders are going to lose some or all of the capital invested. In the end, when fraud becomes evident, the scammers would simply rebrand and start afresh, creating a new scheme under a different name.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is immune to scam. If you get scammed, the first thing you need to do is to evade further risks. Deactivate your bank card immediately, contact the bank and ask for advice.
Report what happened, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!
Remember, it’s crucial not to rush blindly to recover funds because many scam chargeback agencies and individuals are trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!
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