You are not the only one who are waiting for your payments from ACFX.
ACFX - What's now?
ACFX has decided to close its business on May, 2016. The Broker will no longer accept any new account openings, new orders or deposit. If you were trading with ACFX you are only allowed to close your existing open positions.
For traders who are still waiting for your payment from ACFX, we would like to say you are not the only one trader in this situation. We have been reported by several traders that they are still waiting for their funds to come back from ACFX.
It has been more than two months since ACFX has announced publicly about its “License Suspension“. The broker has also notified that it was going to process all withdrawals to send back all clients’ funds to original accounts though, it seems like the process haven’t been processed yet for many until now.
Is it because ACFX has got no one to process these withdrawals? or the broker is refusing to return the funds with a hope of coming back to the business again.
What about CySEC and ICF?
CySEC continues to just suspend its license though, the authority hasn’t announced anything yet for further details. We are currently waiting for the further announcement regarding to the license suspension from CySEC, which is expected to be released soon again.
Regarding to the ICF(Investor Compensation Fund), the entity does not need to act on this matter as ACFX is capable of returning all funds to its traders according to our source.
Many traders have opened trading accounts and made deposits to ACFX by believing in the CySEC license. It is not a small number that have lost faith in “regulations” and “licenses” which are actively promoted by many online Forex brokers.
After all, perhaps regulation or license doesn’t really matter for your security of funds.
But still, being regulated by some government authority does mean a lot than being un-regulated or un-registered. As long as there is no further announcement by CySEC or ACFX, your funds should be still with them waiting to be processed.
If you are worried about your funds, let’s wait for it together until it is resolved.