FMTrader Review – Scam or Legit Binary Broker

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FMTrader Review

FM Trader was a binary options broker owned by FM Marketing LTD. They are located at 35 Barrack Road, third floor, Belize city, Belize. FMTrader can be reached by phone from Australia at:+61 38 820 5337, and from United Kingdom at: +44 20 7043 3795. Their email address is: [email protected]

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FMTrader Platform Review

FMTrader is now using the new SpotOption trading software! They now have ladder options, one touch options as well as Forex CFD’s and the iFollow feature. Returns on $EUR/USD binary options are 82%, and for 60 second options the returns are 70%. FM Trader is mostly popular in English speaking countries like Canada and Australia. Their site is available in English, Italian, Russian, Arabic, French, and Turkish.

Minimum Deposit For New Accounts is $250, Minimum trade size is $25, and the Max trade size is $10,000.

FMTrader License

The most important thing we look for when reviewing a binary options broker, to determine if they are a legit broker or a scam broker is very simple. Are the licensed and regulated by CySEC in Cyprus? Do they fall under the MIFId regulatory rules in the European Union (EU)? Are they registered with the FCA in the United Kingdom?

FMTrader is not a licensed broker.

If you are looking for a European or Australian licensed broker, then read about the Top Licensed Brokers.

Australia Warning

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“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”

So the question; is FMTrader a legitimate binary option broker and not another scam broker? What has been your trading experience with them?

Share your review of FMTrader in the comments below.

FMTrader Broker Review

�� Demo Account:
⚖ Allows Hedging:
�� Allows Scalping:
�� Headquarters: Belize
�� Founded:
�� Trading Platform(s): SpotOption
�� Regulating Authority(s):
�� Minimum Deposit: 250
�� Maximum Leverage:

Visit FMTrader
Risk Warning: Your capital may be at risk

Our Review of FMTrader

Company Overview

With FMTrader, traders can trade with stocks, indices and commodities. This trading platform focuses specifically on binary options trading.

Account Types + Opening

It is free to open an account with FMTrader and this can be done by means of a simple online form. FMTrader offers various account types, including an Islamic account, and Bronze, Gold, Silver and Platinum accounts. The Bronze account is designed more for beginner traders, whilst the Platinum account is for experienced, professional traders who want to be able to trade larger sums of money.

Promotions, Sign Up + Deposit Bonuses

Bonuses and promotions available will depend on the type of account that you hold. For example, whilst the Bronze account offers a bonus of up to 20%, the Platinum account offers a bonus of up to 40%. This is still lower than most other online brokers, though, who tend to offer bonuses of 100% with higher powered accounts. There are other benefits associated with different account types – for instance, with the Platinum account you can enjoy a risk free trade with your first trade. One thing to note about bonuses with FMTrader is that they cannot be withdrawn instantly. Traders need to reach a certain turnover in their account before they can withdraw their bonus.

Commissions and Fees

Depending on the type of account that you hold and the types of trade that you make, FMTrader will charge a commission of between 15% and 35% on your trades. Though there are no fees associated with opening an account, there are charges attached to withdrawals, and these will vary depending on the payment type that you use. For example, the fee for making a withdrawal via wire transfer is $50, and the fee for a withdrawal using a credit card is $25.

Trading Platform Review & Mobile Apps

The FMTrader site has a basic feel to it. It provides some education (in the form of articles and a limited webinar service) as well as customer support and of course the trading platform itself. There is no FMTrader smartphone app available to date.

Deposits & Withdrawal Methods + Ease

Withdrawals can be done by credit card, bank transfer and by some online payment providers. Each withdrawal method has a different minimum withdrawal amount associated with it; with the wire transfer option, for instance, this amount is $250 and for a credit card it is $100. Once you have requested a withdrawal, FMTrader will take five days to process it.

Regulators & Safety: Are they a reliable, legitimate broker or a scam?

FMTrader is not regulated, however not all legitimate brokers are. Reports suggest that FMTrader is simply an unregulated, legitimate broker rather than any kind of scam.

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

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