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I understand the ACY Securities mentioned that they are regulated by less reputable bodies, how do I make sure my fund is safe when I trade with ACY Securities?

Niloy
Philippines
Feb 07, 2022
ANSWER ACY Securities is a brand name of ACY AU and ACY LTD. ACY Securities Pty Ltd (ACY AU), under the domain of https://acy.com.au/en, is regulated by the Australian Securities and Investments Commission (ASIC AFSL:403863). ACY Capital Australia Limited (ACY LTD), under the domain of https://acy.com/en, is regulated by the Vanuatu Financial Services Commission (VFSC). For more details about this broker, please check our full ACY Securities review. ASIC has become one of the most competent broker regulation standards worldwide. It has quite strict requirements, including risk limitation, bonus prohibition, and consumer enlightenment. Therefore, dealers overseen by ASIC is considered to be reliable brokers compared to unregulated or weak-regulated ones. However, VFSC is a popular offshore regulator among forex brokers as capital (or bond) requirements are relatively small. A Forex license covering the online activities of a brokerage is issued in 2-3 months, which is indeed extremely fast. Moreover, there is no income tax, capital gains tax and inheritance tax in the country. So VFSC-regulated brokers are actually not under strong regulation. That means, if you are interested in ACY Securities and are about to deal with this broker, you'd better avoid onboarding your account on its offshore license. You can ask their official customer service where will they onboard your account. It is much safer to onboard your account to its Australia ASIC license.
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