ACY Securities Review - ASIC Regulated NDD Forex Broker
Our ACY Securities Review - Updated 7th August 2020
ACY Securities was founded in 2011, in Australia. The broker offers access to trading forex, commodities, precious metals, and indices. ACY Securities was previously known as Synergy FX and is regulated by is regulated and licensed by ASIC.
The company was originally founded in 2011 and since then it has established a great reputation and gained many clients around the world. It was purchased by Australia's leading international broker ACY Capital in September 2018. As a result, the company developed further and grew stronger by combining years of experience with expertise and the proven development of ACY Capital which is well-established within the industry.
ACY Securities is an NDD broker that allows you to avoid risks by connecting the trader directly to the liquidity provider and thus offering real-time rates. ACY Securities, as part of a large global organization, provides ultra-fast execution and cooperates with 20 liquidity providers.
Our ACY Securities Review Ratings
The broker offers three account types for traders to choose from. All accounts have the MT4 and MT5 platform available for traders.
An StpECN account offers fast execution, multi-bank liquidity, and anonymous trading. The minimum initial deposit is $50 and the minimum trading volume is 0.01 lots. A swap-free account is available for Muslim clients. This time of account does not charge any commission. You can open an account in USD, AUD, EUR, GBP, NZD, CAD, JPY, and the available leverages are 1:50, 1:100, 1:200, 1:500. The accounts are 1 on 1 service, offer market analysis and there is no deposit fee. The minimum spread for the EUR/USD pair is 1.0.
The zeroECN account offers very tight spreads as low as zero pips, access to deep liquidity pools, high-speed execution, and direct access to liquidity providers. The minimum initial deposit is $2000 and the minimum trading volume is 0.01 lots. A swap-free account is not available, unfortunately. This type of account charges various commission depending on what financial instrument you pick. For example, for forex commission is $6 per roundtrip. You can open an account in USD, AUD, EUR, GBP, NZD, CAD, JPY, and the available leverages are 1:50, 1:100, 1:200, 1:500. The accounts are 1 on 1 service, offer market analysis and there is no deposit fee. The minimum spread for the EUR/USD pair is 0.
MT5 Xchange Account
MT5 Xchange account offers fast execution, flexible lot sizes as well as automated trading and EAs. The minimum initial deposit is $50 and the minimum trading volume is 0.01 lots. A swap-free account is not available unfortunately. This type of account does not charge commission. You can open an account in USD, AUD, EUR, GBP, NZD, CAD, JPY and the available leverages are 1:50, 1:100, 1:200, 1:500. The accounts are 1 on 1 service, offer market analysis and there is no deposit fee. The minimum spread for the EUR/USD pair is 0.
pureECN VIP Account
ACY Securities offers VIP traders a special account with premium features called pureECN VIP Account. The minimum initial deposit is $20,000 and the minimum trading volume is 0.01 lots. A swap-free account is not available unfortunately. This type of account does charge commission on some financial instruments, for example for Forex commission is $5 per roundtrip. You can open an account in USD, AUD, EUR, GBP, NZD, CAD, JPY and the available leverages are 1:50, 1:100, 1:200, 1:500. The accounts are 1 on 1 service, offer market analysis and there is no deposit fee. The minimum spread for the EUR/USD pair is 0.
Account Opening & KYC
Opening an account with ACY Securities is relatively easy and easy. First, clients must register basic details such as name, surname, date of birth, phone number, and email. Then they must authenticate their account. For that, you must submit the following documents:
- An updated utility bill or bank statement
- Government ID, passport, or driver's license.
The broker will verify the documents quickly and all you will need to do after is just fund your account and you can start trading.
Trading Conditions and Clients' Fund Protection
ACY Securities spreads depend on which account you choose, some starting with as low as 0 pips. Zero spread accounts do charge commission charge per trade however depending on what instrument you choose. Minimum deposits vary based on your account type – for example, the stpECN account’s minimum deposit is $100.
The broker accepts various methods for depositing and withdrawing funds, such as wire transfer (local and international), credit card and debit card, as well as e-wallets like Skrill, Doku Wallet, China Union Pay. Withdrawal time depends on the method you choose will bank transfers will take 2-3 business days while card withdrawals take 3-5 business days. Withdrawal requests will get processed on the same day if they are received before 14:00 AEST. Requests received after 14:00 AEST might not be processed until the next business day. Clients in Australia can withdraw funds via bank wire for free up to three times per month. When you exceed that limit then you will be charged $25 USD per every additional withdrawal. International charge costs $25 per withdrawal. Some e-wallets will also charge you, for example, Skrill will char you up 3% per withdrawal fee. Deposits and withdrawals must be made from and paid to the same individual as the trading account holder as no third-party payments are allowed.
ACY Securities is regulated and licensed by the Australian Securities and Investments Commission (ASIC). ASIC expects its brokers to follow stringent capital requirements and to implement some internal procedures like risk management, staff training, accounting, and audits.
ASIC expects clients to follow high-level client fund safety measures. For example, client funds must be kept in segregated accounts from client funds in a tier-one bank. This means, should the broker go bankrupt, client funds will not be used to pay back creditors.
The broker also works the insurance firm Aon and provides ‘Professional Indemnity Insurance’ to all their clients, with liability coverage up to $2,500,000 in any one claim. This is part of our requirements under ASIC Regulatory Guide RG126.
ACY Securities does not have a proprietary platform but instead offers both MT4 (MetaTrader 5) and MT5 (MetaTrader 5). MT4 was developed by the fintech company MetaQuotes – the platform is well-known and appreciated by traders worldwide. MT4 was developed on the MQL4 programming language and was released in 2005. The platform comes with plenty of analytics tools and up to nine timeframes. There is a built-in library of over 50 technical indicators.
MT4 is a fantastic platform for new traders as it's very straightforward and easy-to-use. The interface is sleek and user-friendly; the software is highly compatible and does not overpower the PC when in use. The platform allows three trade execution models to choose from:
- Instant execution
- Execution on request
- Execution by market
MT4 offers advanced order types like Market Orders, Pending Orders, Stop Orders, and Trailing Stops. Moreover, MT4 offers custom technical indicators that can be customized by traders.
The broker also offers MT5, which is a new and improved version of MT4 but created to satisfy the trading needs of traders of all levels. The MT5 is more powerful and offers access to a larger range of markets. In addition to this, MT5 offers a multi-asset trading experience.
MT5 comes with advanced tools that can help you hedge your positions, offers access to partial order filling with your orders, allows you to view full level II market depth, and implement a wider range of pending order types. MT5 comes with 21 different trading timeframes and a higher range of technical indicators.
Both platforms are available as downloadable software, on browser and mobile. ACY Securities accepts scalping and hedging.
The broker offers a large range of financial instruments across five asset classes:
- Forex: Major, minor, and exotic currency pairs.
- Commodities: ACY Securities offers various commodities for trading like WTI Oil, Platinum, Silver, and Gold.
- Indices: Various global indices such as the S&P 500, Dow Jones Industrial Index (DJIA), NASDAQ, Hang Seng, Shanghai Composite Index, Nikkei 225, DAX, CAC, and the ASX 200.
- Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin are available for trading.
- Share CFDs: Global shares of large public companies for trading as Contracts For Differences.
Trader Education Tools
ACY Securities offers various trading tools for both beginners and experienced traders; the broker offers its clients a full range of educational resources which is powered by a strong educational department that regularly updates their website. The team publishes regular trade analysis videos and reviews, industry news, specialized courses as well as a wide range of professional education and research resources.
Market Analysis: The broker offers a detailed assessment of what is happening across financial markets both on a long and short-term basis.
Market Blog: ACY Securities updates its clients with market news through the blog available on their website. The blog is regularly updated with corporate, financial, and political news.
Webinars: ACY Securities conducts online trading courses customized to different experience levels. The courses are very useful traders whether they are new to foreign exchange trading or already have experience. The webinars are live and hosted to suit traders in different time zones.
Free Trading e-book: ACY Securities offers a detailed e-book that covers important aspects of trading such as how to use fundamental and technical analysis, how to practice risk management, and more.
Economic Calendar: An economic calendar allows traders to stay up to date will key global financial releases that could impact financial markets as well as forecasts and results.
Trading Courses: An online video series about trading that helps traders develop their trading skills.
ACY Securities customer support team has won multiple awards for its impeccable service. The broker provides support in multiple languages and is on a 24/7 basis from their offices in Sydney, Taiwan, China and Malaysia. Support is available via email, live chat and phone.
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Wednesday, January 19, 2022