Need Reviews on ACM, please!

[nishant]

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]

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]

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]

	Quote:	Piptrader
	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]

	Quote:	nishant
	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]

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]

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]

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

[Soultrader]

You are very welcome nishant

[nishant]

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