Headquarters: 35 Barrack Road, third floor, Belize city, Belize
USA Traders: Not Allowed
Available Assets: 100+
Min. Deposit: $250
Min. Trade Size: $25
Max trade Size: Not published
Additional Features: Non
Platform Provider: SpotOption
Languages: English, Italian, Russian, Arabic, French, and Turkish.
FMTrader was initially launched in 2013 and is officially own by FM Marketing LTD incorporated in Belize with IFSC license number IFSC/60/372/TS/15 and address 35 Barrack Road, third floor, Belize city, Belize.
Is FMTrader a scam?
FMTrader where under different management in the past but since new management have made significant improvements that have made this broker a legit and secure company. The previous management where considered a scam however due to the on going complaints they have had, the company as have went through some real reorganization.
FMTrader Trading platform
The SpotOption copy trading platform is easily obtainable directly through a trading room and it has a leader board of traders. There is also a section to choose your preferred settings.
FMTrader uses SpotOption’s as a market trading tool for traders. Within the trading platform the asset list is lenghthy. There are currently 12 major Forex pairs, such as 20 stocks, 29 indices and 7 commodities. Forex and stock trading on the platform is effective, along with the commodities and indices. The commodities consist of oil, gold, silver and indices are broader across the world.
The asset list itself is connected by a full list of tradable options that has a expiry range from a short term 60 second out to several months. The options included within the trading platform are digital trading with calls and plus pairs, one touch, ladder and IFollow copy trading. The digital trading is separated into individual binary options such as short term and long term.
There are also ladder options that are a more advanced form of binary and pay a enhanced amount. There are bets on whether the asset will be complete above or below a set strike cost and you can choose the estimated money.
FMTrader Unique Features
With FMTrader withdrawals are easy to do, once you have account verification requirements, you can proceed to the withdrawal page and request for a withdrawal. The deposits and withdrawals can be made through a credit card, wire transfer or Skrill, the withdrawals are free as well and are usually processed into your account within three days however pay-out may take up to a week depending on the payment method used.
FMTrader is also very user friendly and uses the SpotOption platform that is easy to use. There is also a chat and phone support system for traders to gain advice. The website is full of information and resources and has comes in seven different languages.
They offer a number of various bonus and reward programs. With the bonus scheme you can talk to your account representative and specify what is an available and relevant to you. There is a sign on bonus based on account size as well as other factors and the base trade volume is 40x the bonus which should be met prior to withdrawals.
Why to open an account with FMTrader
One of the reasons you should open an account with FMTrader is because there are no commissions that will be charged for opening an account and credit card withdrawals are free of charge, however there would be a $25 fee will be charged for a wire transfer withdrawal.
Another reason is because the support that is offered is professional and effective; the support is fast and also professional. The communication is made via chat and telephone where traders can communicate with the support staff.
Why NOT to open an account with FMTrader
FMTrader used to be under old management and during the time the broker had a lot of complaints and was not regarded as a regulated broker however improvements have been made. There are some complaints regarding the terms and conditions and a questioning of if they are clear to the trader. Some people find the terms and conditions confusing and uninformed which can make them decide not to open an account.
In conclusion, FMTrader has had its downfalls in the past but with new management, it has improved and has become one of the best brokers with an effective trading platform in place.
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