One month already passed since CySEC, the Financial Regulatory Authority has announced that it has suspended the license from ACFX.

CySEC has given ACFX one month period of the suspension, and now the Broker has decided to close down its Forex business.

Many workers have already left the Broker and only the people from the treasury department are still remained.

What about your funds with ACFX?

In case you have a trading accounts and open positions in your ACFX Trading Account, all you can do is “Closing Positions”, as ACFX no longer opens new trading accounts nor accept new orders to open positions.

ACFX is still processing withdrawals for all existing clients, so in case you have already requested for your fund to be withdrawn, you will receive your funds back in the near future.

As the Broker has followed the rules of CySEC and deposited all clients’ funds into segregated accounts where separated from the normal operation of ACFX, the Broker should be capable of sending back all clients’ funds to original accounts.

In case ACFX has failed to meet the obligation and that caused its clients some losses, ICF(Investor Compensation Fund) may take actions though, this time ICF may not need to do that.

Atlas Capital is the biggest conglomerate in Montenegro

Once ACFX came on-board to Forex industry, the company has grown up rapidly with the stable background, Atlas Capital Group.

Many traders have thought that such broker wouldn’t close down easily or involved in this kind of situation.

In fact, the broker was capable of providing services financially, but it was the management who have failed to manage the risks of clients’ tradings.

Also the broker might have huge background entity, but that doesn’t mean that the broker is the huge one. ACFX is just a part of the group.

It was fortunate that ACFX was regulated by one major financial regulatory authority, otherwise there would have been a different result instead of this.