October 21, 2020

ACFX Broker Review

Overview

Atlas Capital FX or ACFX as it is generally known as, is a two decade old forex and CFD broker, based out of Southern Europe. It is a part of the business conglomerate Atlas Group. The parent company is called AtlasCapital Financial Services Limited, which is based out of Cyprus. The broker offers trading in various indices, commodities, precious metals and currency pairs. It also has various different types of accounts to offer, to cater to different traders. Read the full review of ACFX Broker here.

About ACFX Broker

As mentioned earlier, the broker accommodates various levels of traders, with different account types. The most basic account starts out with a minimum initial deposit requirement of just $50. The broker also offers both fixed and floating spreads. That being said the spreads are actually quite expensive over all. One of their 2 most expensive trading accounts, offers a very average 1 pip on EUR/USD. And the other most expensive account, that offers the leanest spread with 0.5 pip on EUR/USD demands a commission of $14 per lot. This makes the spread situation quite average and unattractive. Along with this spread they offer leverage as high as 1:500. Now, this might seem quite lucrative to some traders, with the chances of multiplying your money to such extents. However, it should be equally emphasised that it is basically a measure of risk, and the loss can also be pretty high.

The broker chooses to make use of the market popular Meta Trader 4, as its choice of platform. Apart from this they also offer a module which helps you use multiple accounts on the platform. It also has various bonuses for deposits, starting from $500. Also it offers most payment options that one looks for. But the biggest problem with the broker is the regulation.

Being located in Cyprus, it was earlier under the regulation of the Cyprus Securities and Exchange Commission (CySEC), but in 2016 their license was suspended. And since 2017 their license has been withdrawn. This makes it the biggest red flag for this company.

The Verdict

Though the broker has some lucrative features to offer, the spread that they have on offer is quite mediocre. But it is the fact that it is an unregulated broker, that makes us uncomfortable more. And thus we urge our users to be careful, if you think of investing with them.