ACY Securities Review – Fees, Features, Pros and Cons Revealed
ACY Securities is an online broker that offers users to trade a variety of financial assets with leverage. Also, by using an ECN execution, the Australian broker is able to offer fast market execution, low trading fees, and a transparent trading environment.
So, if you are wondering if ACY Securities is the right broker for you, this review may help you make up your mind. In this review, we’ll cover the broker’s pricing structure, trading platforms, mobile app, regulatory framework, fees, tools and features, account types, and more.
What is ACY Securities?
ACY Securities is an online trading platform that was founded in 2013 in Melbourne Australia by Tim Cahill. The Australian broker, which was initially founded as ACY Capital Pty Ltd, was developed in order to provide cutting-edge technology and ECN market execution to help traders get a fair and fast trading environment.
For those unaware, an ECN broker uses electronic communications networks (ECNs) to give its clients direct access to other traders in the market through a number of liquidity providers. For example, ACY Securities connects traders by using 16 global banks as their liquidity providers. As such, with the broker, you’ll often get very competitive spreads but more importantly, you can be sure that there is no conflict of interest as ACY does not trade against its clients.
In 2018, the company rebranded to ACY Securities following the acquisition of Synergy FX. And throughout the years, ACY has won several awards including the best multi-asset broker in Australia in 2020, and the best forex broker in2018.
The broker is heavily regulated by top-tier regulators including the Australian Securities and Investments Commission (AFSL 403863), the Vanuatu Financial Services Commission (VFSC 012868), and it has insurance for clients’ funds as it is a member of the Professional Indemnity Insurance.
ACY Securities is headquartered in Level 18/799 Pacific Hwy, Chatswood NSW 2067, Sydney, Australia.
74% of retail traders lose money when trading CFDs.
ACY Securities Pros & Cons
Below, you can find a quick recap of the pros and cons of ACY Securities.
- A pure ECN broker
- A huge selection of more than 1600 assets
- Offers a high leverage ratio of up to 1:500
- Supports the MetaTrader4 and the MetaTrader5
- Offers a free demo account
- Excellent customer support service
- Three account types
- A low minimum deposit requirement of $50
- Heavily regulated
- Competitive spreads and low fees
- No social trading tools
- High overnight fees
- Long registration process
What Can You Invest in and Trade on ACY Securities?
Obviously, one of the most important factors when choosing an online trading platform is the range of financial assets the broker supports. In the case of ACY Securities, it supports forex and CFD products so users get access to more than 1600 assets across the following asset classes:
Shares – Over 1600 shares from top exchanges around the world including NYSE, NASDAQ, ASX, and more. With ACY Securities, all stock CFDs can be traded with a leverage ratio of 5:1 via the MT5 platform. Further, unlike traditional brokerage firms, ACY Securities enables users to easily take a short sell position, meaning you can make a profit when the price of a certain asset drops.
ETFs – In addition to shares, ACY Securities also offers an extensive list of over 60 Exchange Traded Funds CFDs from the US and other exchanges. As such, users can trade popular ETFs such as the SPDR S&P500 ETF Trust, VanEck Vectors Gold Miners, and more.
Forex – ACY Securities also offers trading on 60 of the most popular major, minor and exotic FX currency pairs. Notably, as ACY is a broker that uses electronic communications networks (ECNs), users get access to zero spreads, fast market execution, and transparent trading conditions.
Commodities – The broker offers some of the most popular commodities including WTI crude oil, Brent oil, gold, copper, silver, etc.
Indices – ACY gives users access to indices CFDs of some of the most traded global stock indices in the world such as the S&P500, NASDAQ, DAX, EuroStoxx50, Nikkei, China 50, ASX200, etc.
Cryptocurrencies – Another advantage of ACY is that it offers the top five crypto coins in the market including bitcoin, bitcoin cash, litecoin, ethereum, and ripple. Crypto CFDs can be traded with a leverage ratio and without the need to store the coins on a digital wallet.
ACY Securities Fees & Commissions
When you trade with a CFD brokerage firm like ACY Securities, you need to differentiate the costs that you need to pay for using the broker’s service. For this matter, you’ll have to pay trading and non-trading fees. To help you understand the broker’s fee structure below is a breakdown of the cost for trading with ACY Securities:
ACY Securities has a different pricing structure for each of the three account types. For the Standard account, the broker does not charge any fixed trading, but it does charge a tight buy and sell spread. On the other hand, if you decide to open the ProZero or the BeSpoke account, then you can trade with zero spreads and pay fixed trading fees of $6 per lot and $5 per lot respectively.
Overall, the spreads at ACY Securities are competitive, with the spread for the EUR/USD for the Standard account, for example, is as low as 1 pip. Also, as a pure ECN broker, the spreads are variable, which means that at times the markets are being volatile, the spread is changing in favor of the broker’s clients.
Other than trading fees, brokers like ACY Securities often charge non-trading fees like deposit and withdrawal fees, inactivity fee, and account management fees. In the case of ACY Securities, it does not charge any commission for funding the account with a bank transfer. For withdrawals, you’ll have to pay the following fees:
- International Transfer – if your bank account is outside of Australia, a fee of $25 USD per withdrawal.
- Skrill – 3% per withdrawal
If you decide to withdraw funds with other payment options, you might have to take into consideration a pay-out fee charged by your payment service provider.
Another thing to consider is that ACY Securities does not charge an inactivity fee, which is normally a fee charged by most forex and CFD brokers.
ACY Securities User Experience
In a nutshell, the user experience that ACY Securities provides is generally user-friendly and smooth. Essentially, ACY is an all-in-one broker that covers all aspects of trading – the broker’s website is well-designed and provides all the necessary information and tools to open an account, contact the support team and download the platforms.
When it comes to trading at ACY Securities, we could say that the user experience is the best possible. Both platforms are available on web browsers, and desktop and mobile applications. Also, the broker provides the necessary information about all aspects of trading including products specifications, swap rates, spreads, fees, and more – this makes the trading experience much easier and clearer.
ACY Securities Features, Charting, and Analysis
When it comes to trading tools and features, ACY Securities partly relies on tools provided by the MT4 in addition to other tools and features available from the broker’s side.
Both MT4 and MT5 platforms are loaded with lots of tools, features, and are considered among the best charting packages available in the markets. Crucially, the broker enables users to trade the MT4/MT5 on a web browser (webtrader), desktop version, or mobile app (available on iOS and Android). Additionally, you’ll also be able to use one of the key tools of MT4/MT5 – the Expert Advisor, which is a built-in computer program that was designed to automate trading.
Aside from the above, ACY Securities is an ECN broker that provides direct access to 16 top liquidity providers. As such, it is one of the few forex brokers that offers level 2 pricing quotes. It also provides fast market execution, partial order filling, and micro positions (0.01 lot).
As for market data and educational resources, ACY Securities has done a great job by providing a news section, market analysis, and an informative education portal. Therefore, you will get constant news updates, technical analysis suggestions, and best of all, trade ideas from the ACY Securities team.
Furthermore, ACY Securities maintains an education section with plenty of resources for pro traders and newbies. This includes eBooks, trading courses, webinars and seminars, and more.
74% of retail traders lose money when trading CFDs.
ACY Securities Account Types
ACY Securities offers three account types for categories of traders – the Standard account, ProZero account, and Bespoke account. Below you can find a basic comparison table of the three account types:
Standard ProZero Bespoke Initial Minimum Deposit $50 $200 $10,000 Minimum Trading Volume 0.01 lot 0.01 lot 0.01 lot Spreads from Variable 0.0 pips 0.0 pips Commission starts from Zero $3/lot per side $2.5/lot per side Leverage up to 500 to 1 500 to 1 500 to 1
Take that that in addition to the above, ACY Securities also provides an Islamic (swap-free) trading account for those who follow the Sharia law, and thus, this account incurs no interest rates on overnight positions.
At last, the broker also provides a demo paper trading account for 30-days in case you’d like to get familiar with the platform before you make a deposit.
ACY Securities Mobile App Review
As mentioned previously, ACY Securities does not have its own proprietary trading platform. Instead, the broker supports two of the most popular and widely used trading platforms for forex and CFD traders – the MetaTrader4 and its successor MetaTrader5.
Both mobile apps of the MT4 and MT5 are some of the best trading apps in the market with great functionality and a charting package that comes with a variety of timeframes and technical indicators. You can download the platforms from Google Play or Apple Store at no cost.
ACY Securities Payments
When it comes to payment methods, ACY Securities has the following options: Wire Transfer (Local and International), Credit Card and Debit Card, Skrill, Doku Wallet, PayPal, Neteller, and China Union Pay.
According to the broker, if you decide to deposit and withdraw funds with bank transfers, it will take around 2-3 business days for the money to be transferred. For card withdrawals, it takes 3-5 business days.
ACY Securities Contact and Customer Service
One of the key strengths of ACY Securities is the customer support it offers First, the broker has multilingual support 24 hours a day, 5 days a week via email, phone, submit a ticket form, and live chat. Further, the broker has an informative FAQ section on a variety of topics.
The broker is headquartered in Australia and has additional offices in Malaysia, Vietnam, the Philippines, Saudi Arabia, and Egypt.
Is ACY Securities Safe?
From this review, we can certainly confirm that ACY Securities is safe and secure. First and foremost, this Australian broker operates for nearly a decade and holds licenses and regulations from top financial entities. This includes a license from the Australian Securities and Investments Commission (AFSL 403863), and from the Vanuatu Financial Services Commission (VFSC 012868).
Further, the broker ensures that all clients’ funds are held at segregated accounts at Commonwealth Bank. At last, the broker is also a member of the Professional Indemnity Insurance, meaning that your funds are safe in case the broker cannot fulfill its financial obligations.
All things considered, ACY Securities is a safe and secure online trading platform.
How to Start Trading with ACY Securities
At this point, you have all the necessary information about ACY Securities and it would be fair to say that it seems like a great platform option to start trading financial markets. So, if you are ready to start trading with ACY Securities, simply follow the steps below.
Step 1: Open an Account
The first thing you need to do is to head over to the ACY Securities site and click on the ‘Open Account’ button at the top right corner of the screen. Once you click on the button, you’ll start the registration process where you’ll be asked to enter your personal details, your investment goals, trading experience, etc. Additionally, you’ll be able to choose the account type, and the leverage ratio you wish to trade with.
Step 2: Upload Documentation that Verifies Your Identity
As ACY Securities is regulated by several regulators, on the last step of the registration form, you are required to upload a copy of the front and back of your ID, and a proof of address like a bank statement or any utility bill.
Step 3: Deposit Funds into Your Account
As soon as ACY Securities approve your account, you can make a deposit. In general, the broker maintains a minimum deposit requirement of $50 for the Standard Account, and you can use any of the following payment methods to add funds – Wire Transfer (Local and International), Credit Card and Debit Card, Skrill, Doku Wallet, China Union Pay.
Step 4: Start Trading
Now that you have funds in your ACY account, you can start trading. Whether you decide to trade on the MT4 or MT5, on this step you simply need to explore the markets and find the asset you want to trade.
Bear in mind that ACY Securities offers a 30 days trial period for a demonstration account so you can practice your trading strategies and get familiar with the broker’s tools and features before you risk real money.
ACY Securities Review – The Verdict
In conclusion, ACY Securities ticks all the boxes and seems to be a great online trading platform to trade the markets whether you are a beginner or a professional trader. With this heavily regulated ECN broker, you get access to 1600 assets with a leverage ratio of up to 500:1, and low spreads and trading commissions. Also, ACY supports MT4, and MT5, and a huge range of CFD and forex trading tools and educational resources.
So, if you are looking for a reliable forex and CFD broker, we could say that ACY Securities is certainly one of the best choices you can make. This is particularly the case if you wish to actively trade the markets with an ECN broker that gives you access to a commission-free trading platform, fast market execution, and one that completely removes the conflict of interest between the client and the broker.
74% of retail traders lose money when trading CFDs.
What is ACY Securities?ACY Securities is a safe and secure online trading platform that provides users the ability to trade on over 1600 financial assets via two of the most popular trading platforms in the markets, the MT4 and MT5.
What is CFD trading?Contract for difference (CFDs) are derivative financial contracts that enable two parties to speculate on the price of an asset without owning it and having to physically deliver the asset. As such, when trading CFDs, it is possible to trade with a high leverage ratio and paying lower fees than trading assets outright.
Is ACY Securities regulated?Yes, ACY Securities is regulated by the Australian Securities and Investments Commission (ASIC), and by the Vanuatu Financial Services Commission (VFSC).
What is the minimum deposit requirement at ACY Securities?This depends on the account type you choose. For the standard account, which is the most trading account at ACY, the min deposit requirement is just $50.View all posts by Tom Chen
Tom is an experienced financial analyst and a former derivatives day trader specialising in futures, commodities, forex and cryptocurrency. He has a B.A. in Economics and Management and his work has been published on a range of publications, including Yahoo Finance, FXEmpire and NASDAQ.com.Scroll Up