Beware! AcuityTradesFX.com 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.
AcuityTradesFX.com is definitely a scam and a risk, and there are no further defining elements. Everything else is, as they say, noise, but nothing worth listening. In fact, everything should be ignored here, except for the review, which is quite informative. Read it to see how bad AcuityTradesFX.com really is.
We were able to register very easily. But we do have to mention that when we registered an account, the broker did not tell us we could log in, nor did we receive an email. But in the end we were granted access to a user area, and that’s what matters. But the trouble just started; in spite of the poor user area, the broker has not included a trading software.
Without a platform to trade on, any of the promoted trading conditions are practically useless, and, as we said, simple noise. There are no applicable leverage, spreads, and definitely no available tradeable assets.
ACUITYTRADESFX.COM REGULATION AND SAFETY OF FUNDS
The New York registration address is a farce. We find no reason to take this claim seriously, considering that the US is the most regulated FX and CFD environment in the world. The CFTC and the NFA would never regulate the likes of AcuityTradesFX.com, nor would it even consider doing it. The mere thought of it would ruin their reputation!
And yet in the terms and conditions, the broker states that all disputes between it and the user are settled by the courts of the Republic of Seychelles. This conveys the possibility that the broker is regulated there, otherwise what purpose would the legal courts of Seychelles have with this shady broker? None whatsoever; AcuityTradesFX.com has clearly lied about this, only to make it seem more professional than it actually is.
AcuityTradesFX.com is utterly unlicensed, and a risk to all! Do not invest here, nor should you provide it with any personal details!
If you are investing in an unregulated broker better not invest at all; at least in the latter occasion you will not be ensnared in an investment scam that will not only take your money but will greatly waste your time and energy. Better yet, if you have the will to invest, and either are skilled at it or want to expand your knowledge, there is no better way to go than any of the European, UK, US, or Australian brokers we have compiled for you. These are all regulated, and so are up to industry standards, but are also limited in the amount of freedom they can have by some of the top regulators!
ACUITYTRADESFX.COM TRADING SOFTWARE
It’s official that there is no trading platform. Neither in the user area nor on the website. Without a platform we cannot even deem AcuityTradesFX.com as a broker, for the defining element is nowhere to be seen.
ACUITYTRADESFX.COM DEPOSIT/WITHDRAW METHODS AND FEES
The client portal gives users some shady crypto wallet into which to invest, without even telling us the type of crypto the firm accepts. The minimum deposit is whatever the user decides. The minimum deposit requirement on the site is stated to be $5000, which we know to be false, but it is still ridiculous to think of it.
The withdrawal area reveals a BTC wallet, wire transfer, and cash mailing as the available methods. Their inclusion goes against official anti money laundering laws!
The site includes the most contradictory payment details, including non existent payment methods, and fees for these unavailable payment systems, along side tons of other ridiculous claims. There is also an obvious discrepancy where withdrawal fees are concerned.
However, one of the few details that seems to be accurate is an applicable international bank fee of $50 for withdrawals.
Moreover, the terms and conditions state that the broker decides the withdrawal method:
which is unacceptable in light of the fact that AcuityTradesFX.com claims not to accept requests from he client. So this is a precedent for future unavailable withdrawals.
There are other fees. One is a turnover charge of 20% if not the client has not made a 1x turnover prior to issuing a withdrawal request. There is also a Visa and MasterCard depositing fee of 5%. And of course, we have other fees, some of which have been revealed, while other have not been. So, basically what ever you do with the firm you will be charged. If this is not a big reason to avoid AcuityTradesFX.com, we don’t know what is.
HOW DOES THE SCAM WORK
Scams have surprisingly little evolved over the past decades since their inception. It’s basically the same principle being rendered through different sites and by a plethora of different agents.
The core remains the same. The broker tries to grab the client’s attention either by advertising false profit gains, or by directly contacting the user, who is the vastness of the internet let his guard down at some point and either provided an email or a phone number to some now forgotten source.
Should the user get contacted (or fall for the ads) he or she will be shown to the website of the investment fraud and promptly be pushed to invest, either by sweet talking representatives of the scam, or by the account manager which is also the one that keeps the whole thing in check.
The ultimate goal is to compel the user to invest once, and after that the trap is fully shut. The client already lost money, and any further investments are a bonus to the broker. All withdrawals will not be available, and even if the broker seems to be keeping a straight face, it’s all part of the scheme.
Sometimes the users will get a small teasing taste of profit, just so they are motivated to invest more. But after that one time is when most clients realize that something is wrong.
WHAT TO DO IF SCAMMED
The best thing to do is to file for a charge back with your credit or debit card provider, provided that you had previously invested via them. MasterCard and VISA have a chargeback period of 540 days, so its relatively easy to get reimbursed, and that’s why fewer and fewer scammer brokers are offering card payments.
An easier way to lose money is through wire investments. The only advise we can give you is to contact the bank as soon as the money has been lost (or when you realize you have been played). That and to change your bank account password and user name!
We come to the favorite investment methods of unlicensed brokers – crypto wallets. These are untraceable, and thus once a payment goes through it’s finished! There is no real way of getting one’s money back.
Also do not trust recovery agent or agencies promising to get your money back. These will fee you a hefty sum in return for their services, but as soon as you pay them they will disappear!