Need Reviews on ACM, please!

[nishant 10]

I need reviews on Advanced Currency Markets. I've a query and really wanted someone and especially all who are actually trading with them, rather than relying on the comments from executives of ACM itself with whom i had a talk last week.

 

Currently i'm having account with GCI Financials. But for me, they are a crook! There is so much of slippage when trading with GCI, which on asking them before getting an account opened they denied! So i will be getting account closed with them.

 

I wish to know if there is slippage with AC-Markets though they mention that they do guarantee fills! This is where i need help from anyone who's broker is ACM. If i trade any major economic announcement and put stop buy/sell orders then do they really fill such orders at my designated prices? Or slippage is there? Secondly do they increase the spreads during those times? If yes, then what is their usual increased spread?

[carter 10]

I havent heard good things about them. I hear alot of complaints on bad fills and slippage. However, they do receive a good reputation for their trading platform. I dont trade Forex so Im only posting what I heard.

 

Hopefully a Forex trader in this forum will help you out.

[Piptrader 10]

I started of with them. I love their software but kept getting bad fills I had to ditch them. Im thinking of switching to Infinity. Heard alot of good things about them.

[Soultrader 12]

I started of with them. I love their software but kept getting bad fills I had to ditch them. Im thinking of switching to Infinity. Heard alot of good things about them.

 

I didnt know Infinity offered Forex. Im planning to clear through them as well. If you need a contact info, I can hook you up with a Infinity broker who is helping me out. Let me know.

[feb2865 10]

I need reviews on Advanced Currency Markets. I've a query and really wanted someone and especially all who are actually trading with them, rather than relying on the comments from executives of ACM itself with whom i had a talk last week.

 

Currently i'm having account with GCI Financials. But for me, they are a crook! There is so much of slippage when trading with GCI, which on asking them before getting an account opened they denied! So i will be getting account closed with them.

 

I wish to know if there is slippage with AC-Markets though they mention that they do guarantee fills! This is where i need help from anyone who's broker is ACM. If i trade any major economic announcement and put stop buy/sell orders then do they really fill such orders at my designated prices? Or slippage is there? Secondly do they increase the spreads during those times? If yes, then what is their usual increased spread?

 

A humble suggestion

 

Why don't you look at currency futures? I traded Forex via market makers and I honestly say that one time too many I had problems of re-quoting, stop hunting, etc.

 

Currency futures broker comissions are lower ($30.00 spread average for EUR/USD if you're trading full lots) versus 4-6 dollars round trip with futures brokers. I believe currency futures quote the pip(contract)@ $12.50.

 

Just remember, most of Forex brokers outhere, are market-makers. They make the market for you. In other words, you don't have a way to verify if you're price is on real time or the real thing.

 

I remember once I plotted 3 charts of different brokers to time price action between them. I found levels between 3-5 pips away from each other. I even tried ECN's type brokers and I had problems with them.

 

Another thing you should consider: Forex brokers are getting filled with all kind of new-traders coming into the market, lured by all the advertising outhere, promising "quick riches" and "this is a 1.5 trillion dollar market a day that never sleeps" things like that. Besides the market itself is not regulated under SEC act of 1933/1936 and 1940. Brokers can say and, promise you whatever they want. Demand is pretty high for this product. So you now what happens when demand rises.

 

Don't get me wrong, I believe forex is a wonderful market as I did very well. Not to sound contradictory, I pulled of due the facts I mentioned above(and waking up @2:00AM EST to trade the London Market).

 

There's some facts about forex, news, slippage and volume that by popular concept is completely wrong and misleading, but I prefer to cut my post in here as I feel it's a little too long.

 

Regards

 

Raul

[nishant 10]

Hello and Thank you everyone. Now, i'm interested in knowing about Infinity. Will you please tell me the name of their website.

 

Thanks for suggestion @Raul. Will think about pushing myself to currency futures.

 

Regards

[Soultrader 12]

Here you go nishant.

 

 

If you want the best fills, go with infinity. They have a super fast execution platform. I did a test run before and I was impressed.

[nishant 10]

Thank you so much Soultrader for providing me with the information.

Kind Regards.

[Soultrader 12]

You are very welcome nishant

[nishant 10]

Hello everyone,

 

I actually had a bit of confusion. I really do weigh all the suggestions and reviews that you all have poured in here regarding establishing links with ACM. But on analyzing futher i realised that "Ernst & Young" happens to be ACM's auditors? I have gone through quite a lot forex broking sites but never came with such piece of infromation from any of them as regards auditors. So doesn't is reflect any kind of genuineness in dealings when it comes to ACM or as a matter of fact any other forex broker just because the auditors are the most reputed ones? Or it doesn't matter whoever the auditor is.

 

@soultrader, i had a bit of detailed talk with Infinity's official. And overall they looked promising to me. Thank you again.

 

Regards,

 

Nishant

[Soultrader 12]

@soultrader, i had a bit of detailed talk with Infinity's official. And overall they looked promising to me. Thank you again.

 

Make sure you test drive their execution platform. It is unbelievable fast and you may need some time to get familiar with it. Also, if you need a direct contact info to one of the brokers at Infinity, please let me know. I have a contact info for a broker there who was helping me out in the past and if you are interested he will lower your margin rates.

[nishant 10]

Hello Soultrader,

 

Please do provide me with the official you had mentioned and who had been helping you out.

I dont know if he happens to be the same person or not but Justin Lawrence is the fellow who had helped me initially when i had a talk.

Secondly James, you mentioned about the lowering of margin rates. Please make me understand what you mean by margin rates. Are you interchangeably calling leverage as margin rates? Or is it something else?

Please help by providing the details either here or at my email address.

 

Regards

 

Nishant

[Soultrader 12]

From what I recall the margin to trade 1 contract was $1000. I'll send you a contact email from a broker at Infinity and he may be able to lower this to $500 a contract. Remember this is intraday rates. To hold contracts overnight may require slightly more.

 

Check your pm.

[Guest nojob]

I have demo traded with ACM. The reviews online are terrible. I did experience some problems with requotes and slippage. So I decided against trading live with them. I am currently trading with FXCM. I have been trading with FXCM since 2005. I have followed

their improvements and currently they really does impress me. You can get in touch with them and compare what they have to offer with what Infinity has to offer. I have not traded with Infinity, so I cannot say anything regarding them.

 

I demo trade with north finance, because their demo account does not expire like most brokers. So you can test a strategy on a demo for months to actually extablish a winning strategy. I have taken an account from $50,000 to $175,000 within 2 months.

 

What I discovered is that if you have a trading system and you stick to the rules, no matter what, slippage will hardly affect your trading output. For the past 6 months, I believe slippage has affected my position just once. I am pretty happy with FXCM.

 

Demo trade with Infinity, demo trade with FXCM and compare both. From my experience with FXCM, you will be happy with your trading carrier.