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In the fast-paced world of forex trading, choosing the right broker is crucial. ACY Securities and Charterprime are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between ACY Securities and Charterprime across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated ACY Securities and Charterprime, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, ACY Securities earned a higher trust rating than Charterprime.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that ACY Securities has overall lower trading costs than Charterprime.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both ACY Securities and Charterprime offer copy trading.
A broader range of CFD instruments provides more trading opportunities. ACY Securities offers a greater variety of instruments compared to Charterprime:
For those interested in trading cryptocurrencies, ACY Securities offers 9 cryptocurrencies, while Charterprime offers 0 cryptocurrencies. Therefore, ACY Securities is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that Charterprime charges a withdrawal fee and ACY Securities does not. Overall, ACY Securities has better deposit and withdrawal processes than Charterprime.Â
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.Â
ACY Securities and Charterprime both have moderate educational support. Both ACY Securities and Charterprime offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that ACY Securities offers better research analysis than Charterprime and that both ACY Securities and Charterprime offer frequent webinars.
ACY has a large number of instruments on the MT4 and MT5 platforms and a variety of low-cost trading accounts, but Ugandan traders will be onboarded through ACY Securities’ VFSC-regulated entity, which means they will have little recourse in the event of a dispute with the broker. But ACY Securities’ Australian entity is regulated by ASIC and it provides all traders with negative balance protection.
ACY Securities’ commission-based accounts have spreads that start at 0 pips (EUR/USD) in exchange for commissions of between 5 and 6 USD, which is highly competitive. Experienced traders will also appreciate the wide range of instruments on offer, including 60+ Forex pairs and over 1600 share CFDs.
Overall, if you can look past the lack of regulatory oversight, you will find a low-cost broker with a wide range of tradable assets, decent educational and market analysis materials, and a good selection of trading tools.
For more detailed reviews, please read our comprehensive assessments of ACY Securities and Charterprime.
Select another broker to another broker to compare features, fees, and platforms side by side.
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
