I want to report ACY Securities. I'm a seasoned retail forex trader, and my recent experience with ACY Securities has truly been an eye-opener. Simply put: if you lose money, that's fine, but if you make money, they'll find a million reasons to take your money away, and they'll do it in an extremely unseemly way.
Here's what happened: I deposited $30,000 into ACY, which happened when the market was good. I traded manually and made a profit of $40,085.19. When I tried to withdraw the money, it got stuck. ACY Securities sent me an email saying I had violated trading rules and was suspected of manipulating the market for arbitrage. I was so angry I almost laughed when I saw the email. I only have tens of thousands of US dollars in my retail account. How am I supposed to manipulate the international forex market? If I had that ability, would I be trading here with you?
The most disgusting thing was ACY Securities' constant back and forth. Initially, I provided all the KYC documents and explained the trading logic. They insisted that I had violated the rules and sent an email notifying me that they would deduct $32,879.19 of my profits. To be honest, at that time I just wanted to get out safely as soon as possible. In order to keep my principal, I endured the disgust and agreed to have that part of the profit deducted, just asking to get back the remaining money and the principal. And what happened? They agreed but didn't release the funds, dragging it out for almost a month. A month later, they suddenly changed their minds, saying the previous agreement didn't count and their current decision was: all the $40,085.19 in profits would be deducted, not a single penny would be returned, only the principal would be refunded.
Do you all understand this logic? They initially withheld a portion, seeing I was easy to talk to (actually, I was scared by the safety of the funds), then after a month, they weren't satisfied and simply swallowed it all. This isn't risk control; this is outright robbery.
In ACY's eyes, making a profit is equivalent to breaking the law. Their COO, Ashley Jessen, is still touting the "tourist model" as a financial innovation, but it's actually just a guise to lure people in. If they lose money, it's your problem; if they make money, it's theirs.
I have already filed a complaint with ASIC in Australia, and I have kept all the evidence. I'm writing this to warn friends who are still with ACY Securities or are planning to go to ACY Securities: don't believe the hype surrounding big platforms and established brokerages. Brokers who arbitrarily modify penalty decisions and deduct whatever amount they want have no credibility whatsoever. As long as you make money, you're considered a "market manipulator." Even if you're just a small retail investor with tens of thousands of dollars, this is a scam. The so-called "tourist mode" uses the same tactic—let you taste some initial profits, then they'll fleece you in the end. My $40,000+ profit is still in their hands; everyone, please stay away!
