Editor’s Verdict
Overview
Review
Headquarters | South Africa |
|---|---|
Year Established | None |
US Persons Accepted? |
ACM Gold LTD is a Forex broker and authorized financial service provider based in South Africa. The brokerage firm is one of few Forex brokers that accepts transactions in South African rands. They have won several awards from Global Finance Magazine over the last few years. The brokerage uses the MetaTrader 4 platform to offer trading to its clients on most devices throughout the day and night. ACM Gold allows customers to trade all major Forex pairs as well as a number of minor crosses and exotic pairs. Their list of instruments also includes Forex CFDs, commodities, world shares, metals, energies and futures.
Offering
ACM Gold claims to offer instant funds and fast payouts which are claims made often in the Forex industry that are often unfounded. Though we haven’t tested their deposit and withdrawal service we recommend testing them with a small amount to make sure their claims are valid before depositing a larger sum. One of the selling points on ACM Gold’s website is how convenient and pleasant it is to walk into their offices, a relative rarity in the Forex world, and a significant benefit for local South African Forex traders. ACM Gold offers their customers on-site training at their local facilities. This might appeal to some local traders but to those based a little bit further from their offices it does not have the same benefits.
Trading Platforms
ACM Gold operates on MetaTrader 4 platform and offers all of the options that come along with using that platform in any form. Its available on web, mobile or desktop and for the Mac. They are partnered with Uprise Markets training program to offer educational opportunities to those who want to trade with them.
Demo Account
ACM Gold does allow customers to open a demo account and trade without risking actual funds. With a demo account, you can test the trading platform and your trading strategies. When a trader wants to convert their account into a live trading account there is a FICA process which is required by law in South Africa and requires proof of residence.
Account Types
We did a thorough ACM Gold review and found no substantial information about account types, spreads, leverage and other trading conditions, which was both surprising and slightly alarming. We would highly recommend that South African Forex traders look for a brokerage that offers clear, comprehensive information about their services and outlines what traders can expect, rather than one that omits or skirts these important issues.
Overall, we found ACM Gold to be a small-town broker with very limited services. Another area of concern is that there is very little explanation of their regulation and any protection they offer their customers. We suggest looking for a larger brokerage that offers extensive services and options and is properly regulated.