ACY Securities – what we know and have as facts about it; This is a trade name of ACY Securities Pty Ltd, which is authorized and regulated by the Australian Securities and Investments Commission (ASIC) under license number 403863. This license allows it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Product Disclosure Statement that ACY Securities is acting as principal when transacting with clients and not as a client’s agent to find the best prices. This means ACY Securities is a market maker. It is also written that there is a conflict of interest, as the company may enter into transactions with other persons, at different prices, or will hedge its position with that of another client with the intention of making a profit. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in forums about posting fake positive reviews, withdrawal issues, blocking profitable accounts, high negative slippage, unreasonable increase of spreads and poor customer support.
So far, we have not received any complaints from customers of ACY Securities. If you have any criticism to share with us or feel annoyed by ACY Securities, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and ACY Securities if you wish.