ACY Securities Review 2023

Trust

ACY Securities Regulations

In this section, we will delve into the regulatory frameworks governing broker’s various entities and what that means for you as a trader. We employ a rating system for regulators, ranging from 1 to 3, where Tier 1 signifies the pinnacle of trustworthiness.

ACY Securities operates under two entities:

• ACY Securities Pty Ltd is regulated by the Australian Securities and Investments Commission. We rate ASIC as a Tier 1 regulator.
• ACY Capital Australia LLC is incorporated in St Vincent and the Grenadines. The entity is unregulated.

Why is It Important to Know Where Your Broker Subsidiary Is Regulated?

Each regulator has its own requirements for brokers, which may differ substantially. Such requirements cover aspects like leverage levels and specific protections for investors. These protections may include negative balance protection, segregated accounts, and investor compensation funds. Traders should understand the differences between regulations to evaluate whether the broker suits their needs.

ACY Securities operates under two entities: ACY Securities Pty Ltd, which is regulated by ASIC, and ACY Capital Australia LLC, which is registered in St. Vincent and the Grenadines. Traders should note that entities registered in St. Vincent and the Grenadines are not regulated.

ACY Securities offers standard protections – segregated accounts and negative balance protection. The segregation of clients’ funds ensures that clients’ money is not used for the broker’s own business purposes. Negative balance protection safeguards clients from losing more money than they have in their accounts.

I have summarized key aspects of the brokers’ entities in terms of regulation and safety in the table below:

Is ACY Securities Safe to Trade With?

ACY Securities presents a mixed bag when it comes to safety, largely due to its dual-entity operation. On one hand, its ASIC-regulated entity, ACY Securities Pty Ltd, offers traders a high level of trustworthiness, as ASIC is a reputable regulator with stringent requirements around aspects like leverage levels and investor protections. These include common safeguards such as segregated accounts, which ensure that client funds are separate from the broker’s operational finances, as well as negative balance protection, minimizing the risk of traders incurring debts beyond their account balance.

While ACY Capital Australia LLC entity registered in St. Vincent and the Grenadines is not regulated, it also provides the clients with negative balance protection and segregated accounts. However, if you’re considering this entity, be aware of the increased risks due to the lack of regulation.

Stability and Transparency

In my tests for the Trust category, I also cover factors relating to stability and transparency. Here, I focused on how long the broker has been in business, the size of the company, and the transparency in terms of information being readily available.

ACY Securities has been in business for over 12 years. My research showed that the company is not publicly traded and does not operate a bank. Clients can find the regulatory details in a separate section of the broker’s website. Essential documents, such as Client Terms and Conditions, Key Information Statement, Privacy Policy Statement, and Market Manipulation Warning, can be found in the Terms and Conditions section of the website. The details of the broker’s account offering are placed in the Account Types page.

In summary, my research indicated that ACY Securities can be regarded as having a reasonable level of trust and stability due to the following factors:

• The broker has been in business for more than 12 years.
• Its entities provide negative balance protection and offer segregated accounts.
• The broker provides easy access to important information on the company’s website.

Fees

ACY Securities Trading Fees

For this review, I tested the ACY Securities Standard Account, where the broker charges spreads and swap/rollover fees and does not charge commissions. ACY Securities also offers commission-based accounts.

ACY Securities Spreads

I tested the spreads on the ACY Securities Standard Account during the London open at 8:00 a.m. UK time and just after the US open at 2:45 p.m. UK time. These are the most actively traded times.

I summarized my findings in the table below:

My tests indicated that ACY Securities offers low spreads for GBP/JPY, Gold, WTI Oil, Apple, Tesla, Dow Jones and Bitcoin. The spreads for EUR/USD and DAX were medium.

Swap Fees

The swap fees for EUR/USD were medium during my tests, while the swap fees for GBP/JPY were rather high.

Non-Trading Fees

ACY Securities does not impose inactivity fees, which means that accounts can be dormant for a period of more than 6 months without incurring extra charges. The broker also refrains from charging any other non-trading fees.

Are ACY Securities Trading Fees Competitive?

From my estimation, ACY Securities provides competitive fees for GBP/JPY, Gold, WTI Oil, Apple, Tesla, Dow Jones, and Bitcoin at its Standard Account. The spreads for DAX and EUR/USD were medium during my tests. Additionally, the broker does not charge any non-trading fees offering a more cost-effective trading environment.

Platforms and Tools

MetaTrader is popular among brokers because of its extensive range of technical analysis tools and support of algorithmic trading. Many traders are already familiar with either MetaTrader 4 or 5, so they don’t have to spend time learning the features of the platform.

ACY Securities Desktop and Web Platforms

In this review, I tested the MetaTrader 5 platform, examining its charts, indicators, drawing tools, order functionality, and overall ease of use.

General Ease of Use

MT5 is an advanced trading platform that could be tailored to traders’ needs. Its interface is rather intuitive, although some traders may want to search for tutorials to take a deep dive into MT5’s capabilities. In general, advanced traders would have no problems with MT5, while beginners may need to spend some time learning the fundamental features of the platform.

For beginner traders, it’s beneficial to familiarize yourselves with various chart options, indicators, drawing tools, and order types. You may need to learn how to create watchlists and manage your trading positions. Despite the initial time and effort required, traders who invest in this learning, ultimately gain a powerful tool that helps achieve better trading results. While the general look of the MetaTrader 5 platform may seem a bit outdated, I find the platform fairly intuitive and easy to learn. However, for novice traders who have never had experience with this platform, it may initially appear overwhelming. ACY Securities provides the standard MT5 offering, so those who have previously used the platform with other brokers will be ready to trade in a couple of minutes.

Charts

MT5 offers 97 indicators and 21 timeframes, which is more than enough to customize your charts and adjust them to your needs.

Trend indicators, oscillators, volumes, Bill Williams indicators, and custom indicators help to design the chart you need.

Available timeframes range from 1 minute to 1 month, providing traders with an opportunity to observe short-term developments, as well as significant multi-month trends.

MT5 also supports:

• lines
• channels
• Gann tools
• Fibonacci tools
• Elliott tools
• shapes

These tools are commonly used for decision-making in trading, so their inclusion is a must for any reputable trading platform.

Each chart can be displayed as a bar, a candlestick, or a line. Candlesticks are generally the most popular among traders as they suggest plenty of various patterns that are used for making trading decisions. That said, other chart types also have their advocates.

MT5 charts are accessible even to novice traders. Nevertheless, they also offer enough options for experts.

Like most traders, I have my favorite indicators and drawing tools, which include RSI, moving averages, and channels. I prefer using candlestick charts for the insights they offer through candlestick patterns. I find it easy to use and combine various indicators in MT5.

Orders

MT5 offers all main order types including:

• Market orders. This type of order allows you to buy or sell the instrument at the current market price. It is used when the trader needs to establish a position in the fastest possible way. The main downside of a market order is the necessity to pay a spread, which is the difference between the bid price and the ask price
• Limit orders. This order is used to buy or sell the instrument at a pre-set price or better. Limit orders are suitable when the trader wants to get a specific entry point and is unwilling to pay the current market prices.
• Stop-loss orders. These orders are used to get you out of the position when the price is moving in the wrong way. The order is triggered when the price reaches a specified point.
• Stop limit orders. This is a stop-loss order which puts a limit order instead of a market order, when triggered. This is a potentially risky way to close a position, and it should be used only by experienced traders.
• Trailing stop orders. This order allows you to set a stop order that will move if your open position trends favorably. It is used to protect your profits in case the market direction changes.

Different expiration types are available for all pending orders, including GTC (good-till-cancel), Today, Specified, and Specified Day.

Personally, I strongly prefer limit orders and use them for both entry and exit points. These orders are highly effective in risk management, particularly during significant market movements when market orders can result in prices that deviate greatly from your expectations.

ACY Securities MT5 Mobile App

In this review, I have tested the ACY Securities MetaTrader 5 Mobile App for Android.

General Ease of Use

The MT5 mobile app for Android is quite user-friendly. It provides charts, quotes, account balance info, an economic calendar, news, and other tools designed to help traders make informed decisions. As expected, traders have access to the standard features of the MT5 mobile app. If you’ve previously worked with the MT5 app, you’ll be able to begin trading in a short period of time.

Charts

MT5 mobile app offers:

• 30 technical indicators
• 24 drawing tools
• 9 timeframes
• 3 chart types

This selection of options is sufficient for mobile-based trading. I prefer using a mobile app when I don’t have access to the desktop platform, but need to monitor the market and open positions. While the app is helpful in certain circumstances, it is not as efficient as the desktop platform, which remains the primary solution for traders who require fast and active trading capabilities.

Orders

The MT5 mobile app allows you to place market orders, limit orders, and stop orders. However, trailing stops are not available on mobile trading terminals.

VPS

ACY Securities provides access to the ForexVPS solution, which has servers located in data centers in New York, Hong Kong, London, and other key cities of the financial world. A Virtual Private Server (VPS) is a cloud-based service that operates with its own distinct operating system. It allows users to tap into the system’s resources as though they were integrated into the native hardware infrastructure. The broker credits up to $35 of the monthly fee charged by ForexVPS for clients who trade over 20 lots in a calendar month.

Tradable Instruments

What are CFDs?

CFDs (Contracts for Differences) are financial instruments that allow traders to bet on securities without owning the underlying securities. The key advantage of CFDs is the access to significant leverage, which is typically not available when trading other instruments. In this light, CFDs are very popular in short-term trading.

What Can You Trade with ACY Securities?

• 45 forex pairs. The list includes popular names like EUR/USD and USD/CAD, as well as more exotic options like USD/CNH and EUR/SEK.
• 22 indices. Traders have access to major indices like Dow Jones and DAX and minor indices like Swiss 20 and Singapore 30.
• 17 commodities. WTI Oil, Gold, Silver, and other commodities are available for trading.
• 9 cryptocurrencies. Traders have access to Bitcoin, Ethereum, Ripple, and other popular cryptocurrencies.
• 2300+ stocks and ETFs. ACY Securities offers stocks from various countries, including U.S., Australia, and China.

ACY Securities provides access to forex pairs, indices, commodities, stocks, ETFs, and cryptocurrencies. The forex offering is mostly in line with the industry standards, featuring the most popular pairs as well as some exotic options.

The selection of commodities and indices is quite extensive. From my perspective, the stock and ETF offerings are particularly intriguing, providing traders with access to over 2300 instruments across diverse exchanges.

Customer Support

ACY Securities Customer Support Test

ACY Securities customer support is available 24/5 via online chat, email, and phone. During my tests, I posed various inquiries to the customer support team through live chat asking about negative balance protection, types of accounts, and typical spreads and swap rates. The customer support team delivered quick and professional answers to my questions. I have also used the chatbot which is equipped with answers to common questions.

Deposit and Withdrawal

ACY Securities Deposits

ACY Securities clients can fund their account via credit cards, range of e-wallets, bank transfers, and crypto. Deposits are available in multiple currencies, and the broker provides several local options in less-common currencies like PHP, MYR, IDR, and VND. The minimum deposit level depends on the deposit method used by the client.

ACY Securities Withdrawals

ACY Securities provides a wide variety of withdrawal methods. Traders can benefit from three free withdrawals per month. After the third one, the broker charges $25 in the base currency per withdrawal.

Account Types and Terms

Clients of ACY Securities have the option to choose from three distinct account types: the spread-based Standard Account, the ProZero Account, and the commission-based Bespoke Account. Each comes with its own set of minimum deposit prerequisites—$50 for the Standard, $200 for ProZero, and a significant $10,000 for the Bespoke Account. Additionally, an Islamic Account option is available under the Standard Account, compatible with both the MT4 and MT5 platforms.

Leverage options differ depending on the regulatory entity you’re registered with. Accounts under ACY Securities Pty Ltd are limited to a 1:30 leverage, while those with ACY Capital Australia Limited can access a much higher leverage of 1:500.

For trading novices, the Standard Account serves as an ideal starting point due to its low entry barrier and uncomplicated, commission-free fee structure. As traders gain experience and increase their trading volume, they may consider transitioning to the commission-based accounts. Of these, the Bespoke Account stands out as the premium offering for traders who can meet its $10,000 deposit requirement, offering the advantage of tight spreads and reduced commissions compared to the ProZero Account.

Why is Choosing the Right Account Type Important?

The account you choose must suit your needs. The main features to consider when looking for the best-fit account are base currency options, contract size, commission, fees, the number of pending orders/positions, and the minimum deposit requirement.

What Account Types does ACY Securities Offer?

ACY Securities clients can choose between USD, AUD, NZD, EUR, GBP, CAD, and JPY as the base currencies of their accounts.

For clients observing the Muslim faith, it’s important to note that the Islamic Account option is exclusively available with the Standard Account.

Restricted Countries

ACY Securities does not accept clients from the following countries: Central African Republic, North Korea, Congo, Guinea-Bissau, Iraq, Lebanon, Mali, Somalia, South Sudan, Sudan, Yemen, Iran, Libya, Syria, Russia, New Zealand, and the United States.

What is Leverage in CFD Trading?

CFD leverage allows you to avoid paying the full value of the position. Instead, you pay a deposit, which is called margin, while the remaining funds are borrowed.

Top-tier regulators like the FCA, CFTC, and ASIC, impose leverage restrictions as a risk-mitigation measure aimed at protecting retail traders from excessive losses. High leverage can amplify both gains and losses, and inexperienced traders are often unaware of the rapid and significant losses that can occur. On the other hand, offshore or unregulated brokers tend to offer high leverage to attract traders looking for higher profit potential, but this comes at the expense of increased risk and minimal investor protection.

In ACY Securities’ case, clients of the ASIC-regulated entity have access to leverage of up to 1:30, while the clients of St. Vincent and the Grenadines entity have access to leverage of up to 1:500.

ACY Securities Account Opening Process

To open an account with ACY Securities, follow these steps:

• Go to the broker’s website and click “Open an Account”.
• Provide basic personal information, such as name, country of residence, mobile phone number, and email address.
• Provide additional details, including ID and residential address.
• Answer questions about your trading experience.
• Confirm your ID by sending scans of the appropriate documents.

In my case, the account opening process took less than five minutes. I effortlessly navigated through the client portal and experienced a seamless registration process.

What is a demo account?

A demo account is an account that allows you to test the broker’s services and your trading skills without risking your money.

Please note that your trading experience will differ when you use a demo account compared to a real-money account due to human psychology, as traders find themselves under pressure when real money is at stake.

It’s a good idea to use the demo account for practicing and learning the trading platform, but do not spend too much time on the demo.

ACY Securities provides demo accounts, so traders have the opportunity to test the broker’s services without risking real money.

Research

ACY Securities provides in-depth market analysis, curated by their in-house experts and available in both written and video formats. This content is not only comprehensive but also incisive, catering effectively to the sophisticated demands of experienced traders. Meanwhile, newcomers stand to gain invaluable market insights by consistently engaging with ACY’s analytical resources.

The broker also offers several third-party tools. Capitalize.ai is used for code-free trading automation. The tool brings the ability to analyze and backtest simulated strategies using simple text. Code-free applications are progressing day by day, so the tool may be useful even for those who are not ready to build complex automated systems as backtesting is an important tool for each trader.

ACY Securities also provides MetaTrader Scripts which represent a collection of MT4 and MT5 scripts and indicators. The scripts include charting indicators like Advanced Bollinger Breakout and Multi-Timeframe RSI (as a fan of RSI, I find this tool quite useful) and trading tools like MT4 Script Close All (closes all positions) and Delete all Objects Script (not surprisingly, deletes all objects from the chart).

SoFinX is a copy trading service that provides access to signals from 1200+ providers. Traders can copy the signals or become signal providers themselves. Another offered signal provider is Signal Start which enables traders to choose signal providers according to gain, drawdown, leverage, number of trades per month, etc.

Education

ACY Securities offers a robust educational framework catering to traders ranging from beginners to seasoned professionals. The broker regularly updates a diverse collection of educational articles and maintains a dedicated section for platform tutorial guides on its website.

In addition to providing a comprehensive e-book that delves into key topics like fundamental and technical analysis, as well as risk management, ACY Securities also offers specialized trading courses focused on advanced techniques, such as utilizing Fibonacci tools – a staple among many market participants.

Moreover, the broker hosts frequent webinars covering a wide spectrum of subjects, from “Live Market Analysis” to strategies for identifying high platform tutorial guides-probability trading levels, offering a unique opportunity to gain insights into the decision-making of veteran traders.

The Bottom Line

In a landscape of forex and CFD brokers, ACY Securities distinguishes itself by operating through two distinct entities: ACY Securities Pty Ltd, regulated by the reputable ASIC, and ACY Capital Australia LLC, a non-regulated entity registered in St. Vincent and the Grenadines. Both entities uphold stringent security measures, such as negative balance protection and segregation of clients’ funds, adding a layer of trustworthiness.

ACY Securities provides a comprehensive array of tradable instruments, ranging from forex and commodities to indices, stocks, ETFs, and cryptocurrencies. While the stock offering is particularly robust, their cryptocurrency portfolio could benefit from some expansion to meet the industry standard.

On the platform front, traders have the flexibility to choose between the ever-popular MetaTrader 4 and MetaTrader 5. In my own testing, I found that the spreads on the Standard Account were competitively priced, making it an attractive option for many traders. Beyond the Standard Account, ACY Securities extends more specialized, commission-based offerings through their ProZero and Bespoke accounts, catering to the varied needs of the trading community.

The broker stands out for its versatile deposit and withdrawal options, including cryptocurrencies. My research indicates that ACY Securities also excels in research support, particularly due to its in-house market analysis and integration of valuable third-party tools.

Overall, ACY Securities delivers a well-rounded trading experience that appeals to both novice and experienced traders, although there are areas where some enhancements could further solidify its standing in the industry.

FAQ