Note: ACM Brokers official site - https://acmbrokers.com/ is currently on sale and not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is ACM Brokers？
ACM Brokers, owned by OOHRHII GLOBAL SERVICES LTD, is a Nigerian broker who offers online trading services to global clients including currencies, indices, CFDs, commodities and cryptocurrencies . However, concerns arise due to the absence of regulatory oversight and an inaccessible website, casting doubts on its operation and reliability.
In the following article, we will analyse the characteristics of this company in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
Pros & Cons
Pros:
Five live account options cater to a wide range of trading preferences, ensuring flexibility for traders.
Low initial deposit requirements from NGN 5k make trading accessible to beginners, encouraging participation in the financial markets.
Provision of demo accounts allows traders to practice and develop their skills in a risk-free environment.
Multiple payment methods, including wire transfer and cards, offer convenience and accessibility for funding accounts.
MetaTrader 4 platform provides a stable and reliable trading experience, equipped with essential tools and features for effective trading strategies.
Cons:
Lack of Regulatory Oversight of the broker raises concerns about transparency and accountability in its operations.
Limited customer support channels, such as email and phone, can lead to delayed responses and support for traders seeking assistance.
Exclusion of clients from the EU restricts market accessibility for traders residing in European countries, limiting market opportunities and trading options.
Is ACM Brokers Legit？
When considering the safety of a brokerage like ACM Brokers or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
User feedback: For a deeper insight into the brokerage, traders should read reviews and feedback from existing clients. These valuable inputs from users, available on trustworthy websites and discussion forums, can provide firsthand information about the broker's operations.
Security measures: So far we cannot find any security measures through the Internet about ACM Brokers.
In the end, choosing whether or not to engage in trading with ACM Brokers is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.
Market Instruments
ACM Brokers offers a comprehensive range of market instruments to cater to diverse trading preferences and strategies.
Clients can access a variety of currency pairs, including major, minor, and exotic currencies, allowing for flexible forex trading opportunities.
Additionally, the availability of indices, CFDs, and commodities enables traders to diversify their portfolios and capitalize on global market movements.
Moreover, the inclusion of cryptocurrencies further enhances trading options, providing exposure to the rapidly evolving digital asset class.
Account Types
ACM Brokers provides traders with a range of account types tailored to different trading needs and preferences. These include the Micro account with a minimum deposit of NGN 5,000, the Mini account with a minimum deposit of NGN 50,000, the Basic account with a minimum deposit of NGN 100,000, the Premium account with a minimum deposit of NGN 500,000, and the Platinum account with a minimum deposit of NGN 5,000,000. These varying account types cater to traders of all experience levels, from beginners to seasoned professionals, with the Micro account offering a particularly low entry barrier.
Furthermore, a demo account is also available for trading strategy practicing without risking real capitals.
Leverage
Regarding leverage, the broker offers competitive leverage levels across its account types. Traders can access leverage of up to 1:1000 on the Micro account, 1:500 on the Mini account, 1:300 on the Basic account, 1:200 on the Premium account, and 1:100 on the Platinum account. This provides traders with the flexibility to adjust their leverage based on their risk tolerance and trading strategy.
Spreads & Commissions
In terms of spreads and commissions, the broker offers both fixed and floating spreads depending on the account type. The Micro, Mini, Basic, and Premium accounts feature fixed spreads, providing traders with certainty over their trading costs.
On the other hand, the Premium and Platinum accounts offer floating spreads, which vary depending on market conditions.
While for commission, we have not found any info regarding this part. If you intend to trade with the broker, you should contact them for direct clarification to ensure you understand all the costs and fee structures of your trades.
Trading Platofrm
ACM Brokers primarily offers MetaTrader 4 (MT4), a renowned platform in the online trading world. Launched in 2005 by MetaQuotes, MT4 is globally licensed for traders and brokers. It stands out for its robust server stability, capable of handling numerous trades concurrently, and its efficiency in utilizing minimal device resources. Traders value its user-friendly interface and comprehensive features, making it a preferred choice for many in the financial markets.
Deposit & Withdrawal
ACM Brokers facilitates deposits and withdrawals through various channels, including wire transfer, credit card, debit card, and popular online transfer services like PayPal and Skrill.
However, it's important to note that the broker exclusively deals in Nigerian currency, which can pose challenges for traders unfamiliar with its conversion rates.
Customer Service
ACM Brokers offers customer support via email and phone, providing direct avenues for assistance. Additionally, the broker maintains active social media profiles on Twitter and Facebook, allowing clients to engage and seek support through these platforms.
Tel: +234 705-101-3333.
Email: support@acmbrokers.com.
Conclusion
In conclusion, while ACM Brokers offers online trading services in currencies, indices, CFDs, commodities and cryptocurrencies to its global clientele, concerns arise due to the absence of regulatory supervision and ongoing website accessibility issues. This casts doubt on the broker's reliability, and it's unclear whether the broker's business is in a cease situation or not.
Given these uncertainties, ACM Brokers is strongly unrecommended. We advise you exploring alternatives that prioritize transparency, regulatory compliance, and consistent customer service to ensure a trustworthy trading experience.
Frequently Asked Questions
Is ACM Brokers regulated？
No. The broker is currently under no valid regulation.
Is ACM Brokers a good broker for beginners？
No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its unavailable website.
Does ACM Brokers offer the industry leading MT4 & MT5？
Yes, it offers MT4 platform.
Does ACM Brokers offer a demo account？
Yes.
Whats the minimum deposit does ACM Brokers request？
Luxtious requires a minimum deposit of NGN 5000.
Are there any restricted areas for ACM Brokers？
Yes, the broker is not allowed to deal with clients throughout the EU.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
2023-02-21 15:30
