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Last Updated On September 14, 2023
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.
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.
🏦 Min. Deposit | USD 50 |
🛡️ Regulated By | ASIC, VFSC |
💵 Trading Cost | USD 10 |
⚖️ Max. Leverage | 500:1 |
💹 Copy Trading | Yes |
🖥️ Platforms | MT4, MT5 |
💱 Instruments | Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices |
We consider ACY Securities to be a high-risk broker because Ugandan traders have no recourse in the event of a dispute with the company.
No Local Regulation: ACY Securities has a good reputation regulated by ASIC in Australia. It is also regulated by the FSC of Vanuatu, through which Ugandan traders will be onboarded:
The VFSC is not considered a very good regulator and does not involve itself in the client protection business. At most, they may release warnings against companies that are found to have repeatedly violated the rules. But if you enter a dispute against VFSC-registered brokers, you cannot expect the agency’s assistance to mediate or get your money back.
Safety Features: Although Ugandan traders may be apprehensive about trading under a subsidiary that is essentially unregulated, ACY Securities deposits all client funds in top-tier, well-capitalised banks, separate from the company’s operating funds.
Ugandans are also afforded negative balance protection, but this is evaluated on a case-by-case basis.
Company Details:
ACY Securities has an impressive range of CFDs, more than is typically offered at other brokers.
See below for a list of ACY’s financial instruments and corresponding leverage:
Overall, ACY Securities’ CFD offering is broader than other similar brokers, and it includes specialty CFDs such as ETFs and cryptocurrencies.
ACY Securities’ trading fees are average on its Standard Account but significantly lower than average on its ProZero and Bespoke accounts.
Trading Fees: ACY Securities offers three live accounts on the MT4 and MT5 platforms. The Standard Account has trading fees included in its variable spreads, while the ProZero and Bespoke accounts offer raw spreads (often down to 0 pips on the EUR/USD) in exchange for a commission per lot.
See below for more details:
ACY Securities’ Account Trading Costs:
As you can see from the table above, the trading costs on the Standard Account are built into the spread and are higher than the costs on the ProZero and Bespoke Accounts, which have a small commission per lot traded. However, the minimum deposit on the Standard Account is significantly lower than the requirements of the ProZero and Bespoke accounts.
Standard Account
The minimum initial deposit in the Standard Account is 50 USD. Spreads are variable, starting at 1.00 pips on the EUR/USD, which is slightly wider than similar-sized ECN/DMA brokers, but no commissions are charged.
ProZero Account
A minimum deposit of 200 USD is required to open a ProZero Account. Spreads start at 0.0 pips on the EUR/USD, and average at 0.1 pips, and a low commission of 6 USD (round turn) per lot is charged. These trading conditions are highly competitive for the industry.
On the ProZero Account, commissions are charged differently depending on the base currency of your account (this is detailed below).
Bespoke Account
A minimum deposit of 10,000 USD is required on this account, spreads start at 0.0 pips on the EUR/USD, and traders are charged a very low commission of 5 USD (round turn) per lot. Overall, the trading costs on this account are among the lowest in the industry.
See the table below for the commissions in a selection of common base currencies:
MT4 and MT5 ProZero and Bespoke Account Commission Structure:
Overall, ACY Securities offers three live accounts which are suitable for beginners and more experienced traders. Its commission-based accounts also have some of the lowest trading costs in the industry.
ACY Securities offers a wide range of payment methods, and while deposits are free, some withdrawal methods incur a cost.
In line with Anti-Money Laundering policies, ACY Securities operates a “return to source policy,” meaning that withdrawals can only be returned to the original funding source.
Trading Account Currencies: ACY Securities offers accounts denominated in USD, EUR, GBP, AUD, NZD, CAD, and JPY, which means that Ugandans will have to pay conversion fees on all deposits and withdrawals. Conversion fees can make trading expensive, and affect profitability.
Deposits and Withdrawals: Deposits and withdrawals can be made via Bank Transfer, Visa/Mastercard, PayPal, Neteller, Skrill, PerfectMoney, Trustly, dragonpay, PayTrust, and UnionPay. However, Ugandans can only make use of credit cards/debit cards, bank transfer, Skrill, Neteller, and Perfect Money.
Deposits are free and instant. Withdrawal requests are processed on the same day if a request is received before 14:00 AEST. Requests received after 14:00 AEST might not be processed until the next business day.
See below for details:
Overall, ACY Securities offers a wide range of funding methods with fast processing times and fees only charged on some withdrawal methods.
With support for MT4 and MT5, ACY Securities’ mobile platform support is average.
Both trading platforms are available on both Android and iOS mobile devices and tablets. Beginner traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced timeframes and fewer charting options. In addition, spotty connections can reduce the overall trading experience. Generally, it is better to be at your desktop to conduct day-to-day trading and use a mobile device to keep an eye on the markets or close open positions.
Although ACY Securities only offers the Metatrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MT4 and MT5 are considered some of the best third-party platforms in the industry. Additionally, ACY Securities offers the MetaTrader Scripts, one of the best MetaTrader plugins on the market.
While not the most beginner-friendly software, MT4 has been the industry-standard platform for trading Forex and CFDs since 2005. One of the features that make MT4 popular is its auto-trading feature that enables algorithmic trading and strategy backtesting with expert advisors (trading robots).
However, while MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find. In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop.
MT4’s successor, MT5, is a state-of-the-art, multi-functional platform that boasts advanced technical tools and copy-trading. MetaTrader 5 is designed to accommodate advanced trading across a wider selection of asset classes than its predecessor, MT4. Feature-rich, it boasts advanced tools and offers superior execution.
The benefit of ACY Securities offering third-party platforms such as MT4 and MT5 is that traders can take their own customised version of the platform with them should they choose to migrate to another broker. Additionally, thousands of plugins and tools are available for both the MetaTrader platforms, some of which will be covered in the section below.
Trading Platforms Comparison:
ACY Securities offers a small selection of trading tools to help traders make better trading decisions, but this includes MetaTrader Scripts, an excellent MetaTrader plugin.
ACY Securities has partnered with Capitalise.ai, Signal Start, and MetaTrader Scripts to provide traders with automated trading options.
Trading Tools Comparison:
ACY Securities’ account-opening process is as per the industry standard.
All Ugandan traders are eligible to open an account at ACY Securities as long as they meet the following minimum deposit requirements. These are:
Traders can choose between a business or individual account, but for the purposes of this review, we will outline the process for opening an individual account:
After the application is approved, traders can log in and fund their accounts
Overall, ACY Securities’ account-opening process is fully digital and hassle-free and accounts are generally ready for trading once all documentation has been approved.
ACY Securities offers a wide selection of educational materials for beginner traders, but its market analysis materials are limited compared to other large international brokers. What is available is well-structured and of high quality. Customer support is also available 24/5 to help with any technical or account issues.
ACY Securities’ education section is comprehensive but not as good as the best brokers in this space.
ACY’s educational materials comprise e-books, trading videos, a video trading course, various articles about how to trade Forex, and a demo account. See below for more details:
Education Comparison:
ACY Securtities’ market analysis is limited compared to other similar brokers.
The market analysis section is updated on a daily basis but essentially comprises two sections – Market News and Market Analysis. Both sections cover articles written by ACY Securities’ in-house team of market analysts, headed by Duncan Cooper. The material is in-depth and well-structured.
ACY Securities is a service-oriented broker with multilingual support available 24 hours a day, 5 days a week through multiple channels. On opening an account, traders receive personalised support, helping them with account setup and any other technical difficulties. For the purposes of this review, we found the customer support responsive, polite, and resourceful.
Yes, we consider ACY Securities a safe broker for Ugandans to trade with. It maintains regulation from ASIC in Australia, segregates client funds from its operating capital, and provides traders with negative balance protection.
Founded in 2011 and headquartered in Australia, ACY Securities has grown to become a large multi-asset financial company offering trading on over 1600 instruments. As an international broker, it is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). See below for details:
Awards
ACY Securities has won numerous awards for its services and offering over the years, further burnishing its credentials as a safe broker. These include:
Fast Trade Execution: ACY Securities offers ultra-fast order execution, liquidity from 16 global banks, direct access to Equinix Servers in New York and Asia, and a No Dealing Desk system. These measures ensure that traders have access to a fast, efficient and transparent trading environment.
Overall, even though ACY Securities Ugandan traders will be trading under a subsidiary with little regulatory oversight, it maintains regulation from ASIC, segregates all client money at top-tier banks, and provides negative balance protection on a discretionary basis. We, therefore, consider ACY Securities a trustworthy broker.
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process. Central to that process is the evaluation of reliability, the platform offering, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned.
Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. ACY Securities would like you to know that: Foreign exchange and derivatives trading carry a high level of risk. Before you decide to trade foreign exchange, we encourage you to consider your investment objectives, your risk tolerance, and trading experience. It is possible to lose more than your initial investment, so do not invest money you cannot afford to lose. ACY Securities Pty Ltd ( AFSL: 403863) and ACY Capital Australia Limited (VFSC: 012868) provide general advice that does not consider your objectives, financial situation, or needs.
An ASIC-regulated Australian broker, ACY Securities offers trading on over 1600 instruments, including over 60 Forex pairs. Trading conditions are excellent, with spreads down to 0.0 pips on two of its accounts, in exchange for low commissions. ACY also offers trading on the most popular platforms – MT4 and MT5, and it allows all trading strategies alongside a decent repository of educational materials. One drawback is the lack of regulatory oversight, although client funds are segregated from ACY’s operating capital and traders are provided with negative balance protection. Overall, ACY Securities is a dependable, if unexciting CFD broker.
Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.
Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.
Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.
Find out how ACY Securities stacks up against other brokers.
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