A Forex broker is a firm or company that provides a trading platform mainly online for Forex traders to buy and sell foreign currencies. Forex trading is an online business and investment method that have proven to be very lucrative for Nigerians and so the need to know about these Forex Brokers before using their platform is very necessary. Read below as I will be reviewing one of the known Forex Brokers in Nigeria, ACM Gold Ltd.
ACM Gold is an award winning Forex Broker Company that was founded in 2004 in the United Kingdom. In Africa, ACM Gold was based in South Africa but overtime, the company extended it services to other countries around. ACM Gold was introduced in Nigeria in 2011 with its office in Ikeja, Lagos State and since its introduction in Nigeria; ACM Gold has attracted the interest of many Forex traders because of their reliability.
Just as most Forex brokers, ACM Gold offers a demo account for traders to practice without the fear of losing their money, this feature has helped a lot of users to get acquainted with their trading platform before trading with real money. For Live trading, ACM Gold initially used the popular MetaTrader 4 platform but recently upgraded to the MetaTrade 5 platform.
ACM Gold has only one account type for trading which you can used to trade both variable and fixed spreads and they usually don’t accept traders from countries like the United States, Japan, Australia etc.
Depositing money into your ACM Gold can be done either by using your credit card (ATM Card) or through e-wallets like Skrill and Neteller. The minimum amount you are required to deposit into your account is about 122,000 (One Hundred and Twenty Two Thousand Naira Only) and the money may take about a day to reflect in your account.
A Withdrawal can take 1 – 2 business days to be completed; the process also hugely depends on the bank you are using, after a successful withdrawal, you are sure to receive your funds directly into your bank account.
CUSTOMER SUPPORT AND FAQ
ACM Gold has been effective with their customer support system; the easiest way to contact them is to send a mail to [email protected]. The website also features an FAQ where questions to issues concerning Deposits, Withdrawals and more are answers.
Recently, ACM Gold shut down its Forex brokerage operations in most countries, and unfortunately Nigeria was included. There have been a lot of speculations as at why it happened but the company came out with the claim of preparing itself for entry into the Cryptocurrencies world. Throughout the time ACM Gold was in operation in Nigeria it was highly recommended because of its useful services but it was considered to be a Forex broker for small scale Forex Traders. Since they are no more functional, you can look for other recommended Forex brokers online to trade like http://www.instaforex.com who has been in operation since 2006 till date, with while anticipating their return, if they will.