ACFX to close its FX business after suspension of CySEC license

May 10, 2016

FX Online Broker ACFX to go bankruptcy. All funds to be withdrawn upon requests.

Notification

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.

ACFX to close its FX business after suspension of CySEC license

ACFX(Atlas Capital FX) has been suspended its official financial license from CySEC for a month since April 7th, and now the company has decided to close its Forex business and possible acquisition.

According to our source, most of the staff members are already left, and only the treasury department team remains in the office and processing withdrawals for the existing funds.

There hasn’t been any official announcement regarding to this yet, but ACFX should make an announcement soon.

What happens to ACFX now?

ACFX had one month period to decide either come back to the business or close it.

The broker couldn’t provide any financial services but was allowed to only close positions and process withdrawals for the month, and now most of the clients have left the broker already.

Along with the clients, large part of staff members have already left the company last week and now only some in the financial department are currently working to process withdrawals.

Fortunately, ACFX is taking care of all withdrawal requests and processing it one by one, in case you have funds with ACFX, you will soon receive it in the near future.

But no one can assure what happens in the future, so you may want to hurry for your withdrawal requests.

ICF to take action?

ICF stands for Investor Compensation Funds and the group compensates losses of investors in case a member broker failed to meet its obligation with its clients.

In case of ACFX, ICF is most likely not going to take actions as the Broker is capable of sending back all clients’ funds to their original accounts.

As ACFX has “Segregated Accounts” for its clients which is separated from the normal operations, there shouldn’t be any problem liquidating all positions and sending back all of these funds.

What you need to do now?

If you still have open positions in your ACFX’s trading account, you can only close them whenever you wish.

And after liquidating all existing open positions,  you may request for withdrawals from the “Client Portal” of ACFX.

Please note that ACFX is going to close its business and no longer available for trading Forex and CFDs.

You can login to the “Client Portal” from the link below.

ACFX Client Portal

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