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Updated: Oct 12, 2017
2.171 · 73 REVIEWS
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November 2010 UPDATE: After ACM was denied a license by FINMA, it was sold to SwissQuote.ch

We are waiting to see if SwissQuote can fix some of ACM's other issues or not.

December 2010 UPDATE:  It looks like ACM came out the winner against MexBank and may not be responsible for any losses incurred by MexBank customers.  This doesn't free ACM from their irresposible actions in the FPA's forums.

May 2009 Update: AC Markets appears to have created over a dozen fake FPA forum accounts used to make fake postings by "satisfied customers". The FPA considers such an action to be extremely unethical and recommends extreme caution dealing with any company that would do such a thing.
2009-04-05: There was a police raid against AC Markets. We have an article in our forums about this issue, along with a response from ACM.

The FPA recommends using a reasonably high level of caution dealing with this company until more facts come out.

Another web site of this company is ForexPro.com

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2.171 · 73 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

stephan,
, Jamaica,
Jul 6, 2014,
Guest

i saw this thread and had to respond to it for the sake of anyone with the same experience had. i remember trading with this broker in 2008, one evening i was trading the usd/jpy pair. i made over 2200$ just that night and felt really happy because i never earned that much before. i closed all my positions and logged off. the morning i went to bed at around 4am and got up at about 8am to start the morning trade only to find that my account was short of over 1000$. i called ACM and complained, only to hear them telling me that the platform had malfunction and gave some wrong information. i knew something was fishy because the person i spoke to sounds like someone making up a story. i accepted their excuse and continued trading but anytime i'd open a position something went wrong. i compared their live rates with other brokers and they were periods of great differences. while other broker's rate was at one figure, ACM was 30 pips higher or lower. i had a terrible experience with this company, its as though they dont like when you win on a trade for some reason. i'd love to sue, but it so long gone, but i will place a hex on them though.
Sam WEalthy,
Canada,
May 23, 2011,
Guest

i opened an account with ACM for 7 months so far , and they are ok with me , the customer service are good , but wts important is the execution and so far they are fair with me, i like them ,
Anonomos,
NYC,
Mar 11, 2011,
Guest

I Worked at ACM, you should know and understand they are taking your money, if they raided the geneva office went down the first hall on the left past the first conferance room , there was a "trading desk" with black plastic up on the windows inside you'd find the scumiest activities possible.. the things I saw and heard there are unbeleavable. my very soul was disturbbed to work there after finding out what was actually going on! the salesman (brokers) are lieing scumbags, I know I was one of them!!!! Stay away! NFA sham on you for letting them exsist in this country also! to close and open under a new name, to close once more and reopen with a new name...terrible lamarcas sham on you
olivier ,
china,
Jan 18, 2011,
Guest

Dear Ilya Paniotov :
I would like to tell you I meet the biggest scam and frauds from ACM
Could you contact me :olivierchen007@gmail.com
I will do my best to support you and go together to tribunal court

I have already mail to www.mcswisslaw.com

Thank you to reply by mail !
John Karopczyc,
Long Island, NY,
Dec 10, 2010,
Guest

I've been trading ACM for a while now and have been following this case just to make sure everything was ok with my investment. I found this which basically clears ACM and confirms the point that there was no wrong-doing on their side. The Swiss judges that raided their office completely geeked it.

Full info here: http://www.courthousenews.com/2010/12/02/28Million.pdf

page 2, para 3: "Moreover, Defendants reported to their customers that in November 2008, that they incurred huge losses, approximating 99% of most customer account balances. In numerous reports to customers, Defendants attributed these losses to alleged wrongdoing by Advanced Currency Markets ("ACM"), a Swiss forex dealer with which MXBK traded its pooled forex accounts over the internet. However, Defendants last traded with ACM in February 2008, and, from March 2008 through October 2008, they lost more than $18 million trading with other forex dealers. Defendants also lost approximately $493,000 trading forex in November 2008 and approximately $1 million trading forex from December 2008 through April 2009."

I've traded with other brokers (FXCM and Dukascopy) - they're all ok but I like the customer support ACM offers and their platform the best. Trading conditions are the same as any established broker.
ILYA PANIOTOV,
New York,
Oct 3, 2010,
Guest

If you still considering to be a client of ACM, think again.

ACM still undergoing in criminal investigation and a trial in a CRIMINAL COURT in Geneva.
If you have in your contract with ACM - they can close your open positions at any time and close your account at any time, and why this paragraph exists in a trading agreement ???? - just ask them to remove that paragraph from your contract and see what they say.
This paragraph give them power to "Cash In on your money" at any time they want or when they need extra cash for they business.
Take your money and RUN from ACM, they are FINISHED,
JUSTICE WILL PREWAIL in CRIMINAL COURT.

2010-10-01 00:00 No rating FINMA not granted a banking license to ACM

http://translate.google.com/translate?hl=en&sl=fr&tl=en&u=http://archives.tdg.ch/TG/TG/-/article-2010-09-2963/la-finma-n-accorde-pas-de-licence-bancaire-actuC3actuA0-acm

Finally Justice prevails !!!

2009-05-22 12:00 1 Star New Criminal cases has been filed against ACM.

ACM - this accounts was manipulated by ACM dealers

If you are owner of listed account, you may consider to contact to Swiss Police to investigate activity on your account, or Monfrini Crettol & Associes Monfrini Crettol & Partners - Attorneys at law in Geneva, Switzerland

103609 - specially this account owner
102278
102584
104915
105155
105350
106784
107001
107265
107944
107996

2008-01-19 1 star ACM - THEFT BY DESIGN. ACM the business of currency broker is unregulated in Switzerland.
They are regulated by the Swiss Federal Department of Finance => only for money laundering procedure.
FOREX trading is UNREGULATED in SWITZERLAND.
On January 16 2008 they posted new changes for margin requirements http://www.ac-markets.com/online-forex/spread-rates.aspx
This will create massive margin calls on existing accounts.
On past weekend they change margin over weekend without any notifications from 1% to 2%. Then they send me new requirements for open positions, and they bump margin requirements to 5% on the same account balance,because they want to force me to close my open positions.
I'm trading with them for 2.5 years, large account. Today they give me notice off closing my account, because SWISS atterney start to get involved. This changes indicate that they have not enough CASH to cover your positions with inter banks, and they need clients money.
If you have the same problem or other problems with ACM, please contact me.
Swiss law firm collecting information on ACM www.mcswisslaw.com to take them to court for SCAM & FRAUD activity.


Andrew Grasso,
Geneva, Switzerland,
Oct 1, 2010,
Guest

As an ACM representative, please find the company's official statement below:

ACM, Advanced Currency Markets, is still undergoing the process to become a Swiss bank.

Recent press articles surrounding ACM's status have evoked events that took place several months ago. Following FINMA's preliminary review as of December 2009, ACM was found not to satisfy all the requirements for Swiss bank status due in part to impediments arising from ACM's cross-continental and cross-jurisdictional, global presence.

Since that time, the firm has effectively adhered to all banking regulation required by FINMA and its activities continue without restriction.

ACM has and continues to work closely with the regulator and has taken all necessary measures to resolve outstanding issues. An independent 2010 audit confirmed that the firm fully complies and fulfills all necessary requirements - be they structural, organization or financial - for its banking license.

ACM is confident in the positive resolution of this case and optimistic about the company's future.

In the interim, the largest retail Forex broker in Europe continues normal business operations and trading.

ACM recently launched a new Web-based trading system as well as added several new features to its revamped homepage.

www.ac-markets.com
Luke Rhinhart ,
zurich,
Sep 29, 2010,
Guest

ACM have been refused the banking licence and could soon have to pull the shutters. The company publicly admitted to this today. They are appealing the decision (what else would one expect) and if the appeal is refused they have decided to plea to the Supreme Court of Switzerland. ACM's management seems, nevertheless, fairly confident that they will prevail. However, I feel that a broker that not only reaps trouble for itself but has a tendency of reaping money off the profits of its client should close down. Let the courts decide.
Diego,
Argentina,
Aug 10, 2010,
Guest

I have a real account with ACM and yesterday i took a position in eur/usd with a TP and SL and when I open back my platform I find out that there was a slippage of 25 pips of course against me, I call them and they said to me that this is the way the platform works and that they will not reverse the problem.
Im studying if i can place a demand on them.
MARK,
WASHINGTON,
May 31, 2010,
Guest

I have had nothing but a very positive experience with this company. No gliches so far and quick positive results on every problem I needed help with.