ACFX website is down! What next for ex ACFX clients?


ACFX's license has been suspended multiple time. Following the suspensions, employees of ACFX left, while some of their clients are still struggling to retrieve their money. Now, ACFX website is down! What next for ex ACFX clients?

11 November, AtoZForex – On the 7th of April CySEC license of ACFX was suspended. Following the suspension, the brokerage started to restrict withdrawals to IBs and retail customers,whilst its management board left the company. Now, ACFX website has stopped working. Will ACFX clients manage to return their money?

ACFX website is down, no personnel at the office

Shortly after the license was suspended the employees of ACFX left the office. One of the first members of the management board to flee was Chief Marketing Officer Some of the former personnel commented that the entire management board left the company, while regular staff had not been kept even prior to the suspension. Furthermore, they added that probably the only person who can still be reached is CEO, Petar Gazivoda. But it is also impossible to connect with Mr. Gazivoda.

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This summer it was revealed that the UK-based broker LCG had recruited some members of the management board of ACFX. Also, there were rumors that ACFX assets could be bought by the British company but it turned out not to be true. Now, ACFX website is inaccessible and brokerage's office in Limassol seems to be empty.

What is next for ex ACFX clients?

Furthermore, corporate and retail clients of the brokerage all over the world can’t withdraw their money, despite having positive balances. An account of an introducing broker from Malaysia indicates a balance of $246,755. However, the attempts to access this money failed.

Besides, one of the retail clients of ACFX have reported that:

“I am a client of ACFX, with a large sum in an account with them that I cannot withdraw, as my withdraw request is falling on deaf ears, along with thousands of others I’d say. I have written to CySEC with no response other than they are still investigating the situation.”

Furthermore, a client from Indian said that he was waiting to withdraw his $1379. He commented that he tried to submit a couple of requests to withdraw the money via emails but didn’t receive any reply.

“My initial deposit was made by Webmoney, and therefore in order to withdraw, ACFX stated that I needed to send an email to them to be able to receive funds back to my Webmoney wallet, but nothing has materialized.”

Considering that CySEC has taken little actions to safeguard client's money so far, it is not certain whether ACFX’s clients will get back their funds or not.

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