ACM's new offices, Zurich, Switzerland
Geneva, Switzerland (GenevaLunch) – ACM, the world’s largest currency trader, based in Geneva, Monday announced that is opening a new office in Zurich. The announcement comes on the heels of confirmation last week that it has applied for a banking license. The company told GenevaLunch in October 2008 that it would be applying for a license, partly as a result of changes in Swiss law covering online transactions, but that it intends to maintain currency trading as its principle business.
Police visit more fuss than trouble
The company currently has offices in New York, Dubai and Montevideo, as well as Switzerland.
ACM was in the spotlight briefly last week over an incident that now appears to have been more brouhaha than serious trouble: a story carried in the local press that ACM had been invaded by the police. Swisster, the English-language Edipresse site, reported that 28 police officers descended on the world’s largest currency trader 3 April to investigate complaints from a former client in Mexico. Le Temps reports today that the incident appears to have been little more than an embarrassment for the company, which had earlier lodged a complaint against the former client for attempting to blackmail it.
Nevertheless, with Finma, the banking authority, looking closely at companies applying for banking licenses, the visit may have brought unwelcome attention.
Ellen, this really is positive news for the company, business as usual! It shows that this broker is going places, all this whilst concentrating on doing the necessary for their banking licence. It’s satisfying to know that our “little” Genève is the home of Forex’s number 1 broker!