GuidePedia

4

Breaking: ACFX Launches Arbitrage Investigation, Delays Withdrawals in China

The Chinese clients of the Cyprus regulated brokerage ACFX are due to have their accounts screened.
 
 
Chinese clients of Cyprus regulated brokerage ACFX have expressed worries over the company’s decision to send out a note elaborating on some possible delays in the processing of their withdrawal requests. The brokerage sent a note to the company’s clients that their accounts are due for a screening.
ACFX claims that the action is necessary due to some clients engaging in risk-less arbitrage and realizing unfair gains on their accounts. Its clients in China are worried by the move as it is directly impacting the disposability of their funds.
However the company is scrambling to reassure them.
According to early reports in some local press, the offices of ACFX in Shenzhen and Shenyang have been closed for business. Finance Magnates has contacted representatives of ACFX for a comment on the matter.
A company spokesperson stated: “Due to recent incidence of clients in China abusing the trading platform in order to benefit from the swap rates on oil contracts, the company has decided to filter out all accounts in order to identify those who abused the system. Due to the large amount of trading accounts being affected this causes a slowdown and delay in the accounting department process.”
Back in 2014, another foreign exchange brokerage regulated in Cyprus caused an outrage amongst its Chinese clients after making a similar move and denying withdrawals to a number of clients. IronFX has since become involved in a number of controversies with European clients filing complaints in large numbers with the Cyprus Financial Ombudsman.
ACFX Client statement
Chinese clients of ACFX received a statement from the company after it suspended a number of withdrawals
ACFX has issued the following explanation to its clients: “Regarding the matter where some clients performed risk-less arbitrage, we decided to screen all of the client accounts to find the target accounts which have caused an impact on the withdrawals of a number of trading accounts.”
“We’re operating as normal and will try our best to process the withdrawal requests of the clients whose account screening process is completed. We’re sorry to inconvenience your trading experience,” the statement concludes.

Post a Comment Blogger

  1. Hi everyone are you looking for a professional binary, forex and Bitcoin broker/manager who will guide and help manage your trade and help you earn meaningful profits all within seven days contact Mr Barry Silbert now for your investment plan. For he has helped me to earn 10,250 USD just with a little investment capital and with the aid of his trading software system that brings forth good trading signals i was able to trade and cash out on time and am still trading with him, if you need his assistance on how to recover your lost investment in bitcoin/binary Contact him now on whatsaap +447508298691. or contact him on his email address Email: Barrysilbert540 @ gmail.com. [WITH MR BARRY I BELIEVE THERE ARE STILL GOOD INDIVIDUALS WHO STILL HAVE GOOD INTENTION TO OTHERS. ONCE AGAIN THANKS MR BARRY.]

    ReplyDelete
  2. Yes i am totally agreed with this article and i just want say that this article is very nice and very informative article.I will make sure to be reading your blog more. You made a good point but I can't help but wonder, what about the other side? !!!!!!THANKS!!!!!! private investigator spain

    ReplyDelete
  3. Instead, look for academies or training programs that have been created by private investigators. Who knows better about what a new or an aspiring private detective needs to know than an investigator who has been in the field for a considerable amount of time? Oklahoma Private Investigator

    ReplyDelete
  4. Really love this blog very informative and valuable thanks for sharing.Tata Steel Share Price

    ReplyDelete

 
Top