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ACFX Review
ACFX was a CFD broker brand run by AFX Capital Markets and AFX Markets. UK special administrators and a full CySEC license withdrawal followed a 2019 collapse.
Min Deposit
$2019
Spreads From
Not applicable, no verified live trading service exists
Max Leverage
Not applicable, no verified live trading service exists
Platforms
N/A
Pros
- The full collapse is documented directly by both the FCA and CySEC
- UK clients had FSCS protection, covering shortfalls up to 85,000 pounds each
- Regulators moved to freeze assets and appoint administrators quickly
- It once held real licenses in both the UK and Cyprus, unlike clone sites
Cons
- UK arm entered special administration on 27 August 2019 by court order
- About 1,200 UK customers were owed roughly 7.5 million pounds in client money
- A shortfall in client money was expected, per the FCA's own statement
- Cyprus regulator fully withdrew its CIF license in 2021 over governance failures
- A senior director was fined 50,000 euros and banned for three years
ACFX was a CFD and forex broker brand run by two linked companies. AFX Capital Markets Ltd in Cyprus held CySEC license 119/10 from 2010, while AFX Markets Ltd in the UK was FCA authorised from 2012 and executed client trades through its Cyprus parent. The firm had earlier compliance troubles reported in 2016.
The real collapse came in 2019. CySEC suspended the Cyprus license on 19 July 2019. On 31 July, the FCA froze AFX Markets' UK activities. On 27 August 2019, London's High Court placed AFX Markets into special administration, appointing CG Recovery. About 1,200 UK customers were owed roughly 7.5 million pounds, with a shortfall expected.
Clients could claim FSCS protection up to 85,000 pounds each, and 418 filed claims worth 13.77 million pounds. In 2021, CySEC fully withdrew the Cyprus license over board governance failures and fined a director 50,000 euros. Treat any site still using the ACFX name with real caution.
Min. Deposit
USD 2019
Max Leverage
Not applicable, no verified live trading service exists
Spreads From
Not applicable, no verified live trading service exists
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
