Actually, it's not so excellent service as you might think. All marketing and persuasive words about extra fast trade execution is nothing. When I used to trade main currencies, I thought that it was a constant volatile market conditions. The worst thing I ever done is invested money into pamm account. Despite my poor performance, manager lost the rest of account balance twice faster than I did. They don't actually have their own pamm services and sending you to third party provider.
The above finally puts facts on the table for all to understand. The CFTC's own words seem to clear the Swiss broker from any wrongdoing, the good thing, from a trading point of view, is that now they are part of Swissquote bank...a trading dream on offer.
This also relates to the dispute between MBFX, mentioned below, and ACM the Swiss broker which was recently denied a Swiss banking license and subsequently acquired by Swissquote Bank, and the police raid which took place at ACM offices in 2009. It is possible that this will clear ACM from any wrongdoing as these cases are linked as I suspect.
CFTC vs MXBK, MexBank Case No: 2.10-cv-01172-TS
page 2, para 3: "Moreover, Defendants reported to their customers that in November 2008, that they incurred huge losses, approximating 99% of most customer account balances. In numerous reports to customers, Defendants attributed these losses to alleged wrongdoing by Advanced Currency Markets ("ACM"), a Swiss forex dealer with which MXBK traded its pooled forex accounts over the internet. However, Defendants last traded with ACM in February 2008, and, from March 2008 through October 2008, they lost more than $18 million trading with other forex dealers. Defendants also lost approximately $493,000 trading forex in November 2008 and approximately $1 million trading forex from December 2008 through April 2009."
ACM Awarded in Dubai
ACM - Advanced Currency Markets (ww w.ac-markets.com) was awarded the "Best Institutional Services Provider" during the recent Middle East On.line Trading Expo & Conference held at the Emirates Towers in Dubai, UAE.
The Swiss broker established its presence in the Middle East in 2005 and has since forged strong relationships with some of the leading banks and financial institutions in the region by providing outstanding FX trading solutions & services.
ACM offers its clients fast, efficient and secure access to 4 different trading platforms all over the World. In October 2010 ACM was acquired by Swissquote, Switzerland largest on.line bank, and now operates under Swissquote's banking license.
To the guy who posted the Webtrader review above, the broker now offers a website that is totaly devoted to their Advanced Webtrader platform. w w w.advancedwebtrader.com and to their Advanced Trader w w w.advanced-trader.com. Seems like a pretty smartl idea, saves the searching through the main website.
following the ACM announcement I researched Swissquote and seen they are actually a bank, this is good news as it will open more markets for the ACM client to trade on, and Swissquote clients will benefit from a leading FX broker. I would like to see if they'll incorporate the ability to trade the additional markets from our ACM webtrader as it is already considered one of the most advanced platforms. We will see.
Up to 4 in spread EUR/USD is not good enough. The best spread is 0.9 and that is for banks like Deutche Bank etc. LOL
I recently checked out ACMs new WebTrader. It seems there are a host of new platforms coming out recently, and this is the latest one. How does it compare? Lets take a look.
The first thing that struck me was its clean look. Definitely cleaner than Metatrader 4. At times MT4 can make the screen look a little clogged up, but with the ACM WebTrader, this isnt the case. To be honest, its probably mainly because the charts and the main info screen are in different windows, (unlike MT4), but despite that, it still manages to deliver an efficient but useful main window, including the latest news, in detail, live quotes, large quote boards, (something which most platforms have), your latest positions, and of course your trade log. MT4 has the latest positions and trade log in the same window but you have to flick between them, meaning you cant view both at the same time. WebTrader however has them in separate windows meaning you can view them simultaneously...
Now, when making or.ders, theres a few things which I came across which was unique to this platform. The first is something called, a GTC or.der, meaning Good for the day. A GFD or.der remains active in the market until the end of the trading day. Now, since forex is an ongoing market, the end of day must be a set hour. For ACM the end of the trading day occurs at exactly 23:00 CET. So basically, its a time limited trade, which automatically closes, whether in loss or in profit, at the end of the day.
Other types of or.ders include, the IF DONE type or.der. This can be really useful, and Im surprised other platforms dont have this. Basically, it means, if for example, the trader believes that the EURUSD is going down but will reach a resistance at say 1.3650. At that point, the trader thinks that the market will rebound which is why the trader can place a sell or.der at 1.3600. This kind of or.der allows the trader to execute a strategy without constantly being behind the computer.
When the execution of an or.der reduces the exposure on the traded currency-pair, the FIFO (First In First Out) rule will apply, and the oldest position on the traded currency pair is closed or reduced. If the amount of the or.der is larger than the amount of the closed position, the next oldest position is reduced or closed. This process will continue as long as the entire amount of the or.der has not been booked. If all positions are closed and there is still an available amount which has not been booked, the or.der reverses the exposure from long to short (or from short to long). A new position with the residual amount will be created in the opposite direction.
There is also something called linked orders. This means, or.ders linked to an open position are called Linked or.ders. It means that the execution of linked or.ders will only affect the linked position by closing it. Linked or.ders are easily configured by the client. The client just has to select a position in the list of all open positions on it and selecting the appropriate or.der type to close that position.
As far as colour customisations go, theres not really a lot to ACMs WebTrader. Its basically the option to have the platform as a dark scheme or a light scheme.
The advantage of a web based platform is that no installation is required (apart from Java if you dont already have it). The problem is however, web based platforms are notoriously sluggish. Nothing can compare for speed to having a local based platform installed on your own hard drive. Having said that, this is actually quite a speedy platform for its web based nature, and Im surprised at how smooth it was in regards to moving from different windows, clicking different buttons and icons, opening menus, dragging charts. Ok, if youre used to say, MT4, youre gonna find this slow, but it definitely holds up well against other web platforms, and it wouldnt be far fetched to say its the quickest of them all.
Overall, this is a decent platform, easy to use, with lots of functionality. Obviously its missing expert advisors thats natural, but for a platform for purely manual trading, it does a good job.
i see all your comments above, but guys try atlas forex, trust me u want regret, open account with couple of hundreds and you will see how easy is to work with their platform. regards to all of you
ACM Voted Best Broker Switzerland, 2010 by World Finance...just recognition for a global leading FX broker who provides exceptional execution.
I guess all traders whose broker is offering the iPhone app are happy. For me it is the ACM iPhone app and yes the marriage between the app and my broker's own mobile platform technology trully is amazing...and fun!
I buy a iPhone and has donloaded the ACM software for iPhone and iPod Touch, it is very nice indeed and have everything you are wanting like real live price feed, chart, account summarys and alot more. This software is also free and It is good that I can use already even if I only have a demo, when I go to go Live it will not be new for me.
September 2008 I wrote.
"Have been trading for many months now, absolutely pleased with my choice. I did much due diligence before making my decision, there was much information I needed answers for, as a fellow trader on another forum explained to me, we should see the relationship between us and a broker as a long term business one, that we work hard for our money and as such need to make sure we choose a broker which we feel comfortable and confident with, one that comes across as the most professional."
In 2 years the feeling of a long term working relationship remains. Since I have been with ACM so many different aspects of their services to client traders have improved, from the introduction of fractional pips, new currency pairs and lately the FX Insider on my live platform. I hope this positive atitude continues.
British, Currently I'm working in Kenya...i found out that ACM does not open accounts for Africans...I call this PATHETIC...SHAME ON YOU [ACM]
Speechless ... those are the persons supposed to know the interface and help you using it. This is what I get at the end of the day.
It was a pleasure to speak with you today. The nature of your questions are complex, therefore I am inclined to refer you to our expert customer service in Geneva who will be able to further as_ist you with your due diligence of ACM platform and our reporting capabilities.
Also, we did send a request on your behalf regarding hedging for Advanced Trader. You should have that turned on by Friday of this week. Please feel free to use the link below to contact customer support in Geneva.
You will find below Q and A interesting
I am practicing with a demo account. First contact with customer service, alias technical service.not to my satisfaction. When asked questions about their own ACM platform ... they don't know the answer, and they have to ... investigate. Had to find out myself that if you do not have a 10 000 $ account, hedging is disabled on ACM. So taking a hedging position results in ... having the previous position automatically closed ... at a loss. When asked to have hedging enabled I am told it takes ... 2 days. 2 days on a demo account. My first impression is that as long as the conversation is about how to put money into an account, things are OK. When you start asking questions ... they get annoyed.
So for now, I will post those chat and email conversations that I find significant, so that others will decide weather to waste their time or not with ACM. I wrote to their complaint department also, attaching the same chat. Just as a first thing to notice, I am stating from the beginning that I am on a demo account, still their representative is giving me an email address for a .... real account. The rest of the conversation is also not something you call professional. I wonder if this is the way I am treated before opening a real account ... what after?
Welcome to ACM chat support. An online representative will be with you shortly. Please wait. Chat InformationHello my name is Ashley.H, I'm here to answer your questions how can I help you?
Yes you can, I can open and close trades during major news and market events with almost no problem. I was used not be able to enter a trade at least 5 even 10 minutes before a major event when I traded with my previous broker. That is why I like this broker so much. Spreads obviously will move, regardless of what you are told BUT, I have found that the widening is very small indeed, I saw my EURUSD move from 1.8 pips to 3.4 pips which is pretty damn good.
Can someone who uses ACM please tell me if you can trade during announcements ? and if so, what are the spreads like ?
ACM just gone and added more currencies, check these out. GBP/PLN, EUR/CZK, EUR/HUF, USD/HUF, USD/CZK
well, guess the story just confirmed, La Marca is out of the picture, check their site: http://www.ac-markets.com/forex-broker/management-team.aspx
another thing we hear is that FINMA is NOT going to give them the banking licence, but this will take longer to find out
my friend works with acm and he say they only increased the capital to get the CEO's share participation down. i dont know how true this is, but if you see the CEO (Lloyd La Marca) step down in the near future, make your conclusion.. its a mess internal and external with this guys!