WikiFX Visited Australian Forex Broker ACY in Sydney

Background

After its office in Shenzhen was closed under investigation of the Industrial and Commercial Bureau, the illegal forex broker ACY has returned with more intense marketing efforts in July. Meanwhile, WikiFX has got over 14 complaints against the broker in the past 3 months from investors, who suffered heavy loss for ACY's illegal behaviors including causing slippage, blocking withdrawal or deactivating their accounts illegitimately. WikiFX thus visited the headquarter of ACY to bring investors first-hand information about the broker and help investors avoid potential risks.

Broker's profile

Full name: ACY CAPITAL PTY LTD

Registration country: Australia

Regulatory status: Illegal

Business status: Normal

Website: https://cn.acy.com/

Address: Suite 804 Level 8, 12 Help Street, CHATSWOOD NSW 2067

Location

ACY is located in Chatswood, one of the busiest commercial district on Sydney's Lower North Shore, within only 19 minutes' drive from Sydney CBD.

On-the-spot Investigation

According to regulatory information, WikiFX team arrived at Help Street where ACY headquarter is located and found its office on Level 8 of Suite 804. Though we didnt take photos of its interior, we could see inside of the office through the glass door, and the turned-on lights and computer monitors as well as other office facilities all indicate the company is in normal business.

Though ACY's headquarter in Sydney truly exists, it's compliance remains in question. The company claims to hold forex license (regulatory number 474738) under ASIC regulation, but upon checking regulatory website, WikiFX found that although license No.474738 does belong to ACY CAPITAL PTY LTD, it's not an ASIC- authorized license for forex brokerage. In other words, ACY operates in overrun business.

The next ASIC review day is drawing close according to the organization's website. And ACY is likely to have its license suspended or canceled by then for the guilty of operating in overrun business and posting fake advertisement. The recent extravagant ad-spending could be the illegal broker's desperate attempt to gain market exposure and lure unwary investors into its trap. Investors should be extremely careful about the dangerous broker and keep away from it when seeking to profit in forex investment.

Conclusion

Per checking the WikiFX App, ACY is rated at only 2.18 and uses white-label MT4/MT5 software, while its server has irregular IP address. The broker bears tremendous risks and we remind investors to stay away from it.

If you wish avoid the risks in forex investment, learn more about how to chose a reliable broker, avoid the pitfalls of illegal brokers and defend your rights against broker scams, or are interested in other WikiFX's reports of illegal brokers, please check WikiFX's official website at www.wikifx.com. To report illegal brokers, please contact WikiFX at wikifx@wikifx.com. We can make a safer and green investment environment by nipping illegal brokers in the bud.