ACFX Broker Review
Atlas Capital Financial Service, also known as ACFX, is a market making foreign exchange broker based in Cyprus. They have many of the benefits that you have come to expect from top online forex brokers, including the ability to trade other commodities and support in several languages. However, this broker falls sort in execution times and offers too many requotes. They are one of the few brokers to offer a bonus on every deposit, which makes up for some of the requotes, but professional traders will likely want to find a different broker.
Broker ACFX comes fully stocked with all the features you expect from an online forex broker and a few that you don’t. Gold and silver are available for trade and CFDs are offered on gas, oil, gold, and silver. For forex, there are thirty different currency pairs offered. An Islamic account is also offered for Muslim traders.
AFCX does offer a lot more international support than other foreign exchange brokers. They offer language support in the usual English, Chinese, and Arabic. But they also offer support in German, Hungarian, Italian, Polish, and Spanish, languages you will be hard pressed to find with other brokers. Instead of only allowing accounts in USDs, you can also hold an account in JPY, CHF, EUR, and CNY.
On the trading side, online broker ACFX allows scalping, hedging, and automated trading systems. They also give you access to daily analysis and advice from experts.
Perhaps the best feature of ACFX however, is the bonus that you receive on every single deposit that you make. Everyone gets the same deposit bonus, but redeposit bonuses are awarded by your individual account manager. Deposit bonuses change from time to time so look at the site for more details.
Forex broker ACFX runs off of the incredibly popular MetaTrader4 platform. The downloadable platform offers you everything that you could want in a forex platform. It’s customizable, easy to use, and offers all traders the powerful tools that they need to make winning trades.
Mobile support is also offered for iPads, iPhones, Blackberries, and Android devices. Unlike many other brokers, which only give you access to price updates and simple buy and sell orders, the mobile trading platform gives you full access to a functional MetaTrader4 platform. You can see all the technical analytical data and graphical visualizations you need to make great trading decisions. An offline mode is available as part of the platform, which doesn’t require any connection to the server to use.
While the downloadable platform is the industry gold standard, execution times when trading through ACFX can be slow, especially during peak market times. The slow execution times cause a large amount of requotes on trades. This is a major problem with the platform and especially bothersome traders using a scalping strategy.
There are three types of accounts that you can open at ACFX. They are:
• Spreads from 3 pips
• Minimum $50 deposit
• 500:1 leverage
• Spreads from 2 pips
• Minimum $10,000 deposit
• 200:1 leverage
• Spreads from 0.8 pips
• Minimum $50,000 deposit
• 100:1 leverage
Forex broker ACFX also offers a demo forex account to try out their platform before you deposit any money. The demo forex account has a balance of $50,000 and run on the MetaTrader4 platform.
ACFX offers fixed and variable spreads that depend on your account type. Better spreads will come with higher deposits and account balances.
Deposits and Withdrawals
There are no fees on any deposits or withdrawals at ACFX. You can deposit via bank wire, credit card, MoneyBookers, WebMoney, Neteller, and CashU. Withdrawals are refunded back to the same methods that you deposited with.
Customer support with ACFX is offered through manuals, newsletters, call back phone support, live chat, and email. Support is generally fast via phone and live chat, but emails can take up to 48 hours for a response in some cases.
ACFX is registered with and regulated primarily by the Cyprus Securities and Exchange Commission (CySEC) and the United Kingdom’s Financial Services Authority (FSA).
ACFX offers a good product for many traders, especially if you are planning on doing a lot of trading on your smartphone. The MetaTrader4 platform will be familiar to most traders and the mobile platform based off of it is one of the best in the industry. Couple this with bonuses on every deposit and tight spreads, and ACFX looks very good on paper.
Unfortunately, in practice ACFX can suffer from slow execution times, resulting in a lot of requotes for most traders. Requotes and slow execution times can take a serious bite out of your profits and leave you on the losing side of many trades.
Because of the slow execution times, most trades would be better off using a different broker, with the exception of traders that want to take advantage of the deposit bonus or trade on their cell phone.