FMarketX Forex Broker

Note: FMarketX's official website https://fmarketx.com/ is currently inaccessible normally.FMarketXReview SummaryFounded2020Registered Country/RegionSaint Vincent and the GrenadinesRegulationNo regulationMarket InstrumentsForex currency pairs, and commoditiesDemo Account/LeverageUp to 1:200EUR/USD SpreadUnder 1 pipTrading PlatformWebMin Deposit$250Customer SupportTel: +44 7912 57 6421Address: Beachmont Business Centre, Suite 107, Kingstown, St. Vincent and the Grenadines FMarketX was registered in 2020 in Saint Vincent and the Grenadines. It uses its own trading platform, which is a web-based one. The minimum deposit is $250, and the leverage can be up to 1:200. However, it is not regulated currently.Pros and ConsPros Cons Multiple account typesInaccessible websiteLack of regulationLimited trading asset classesNo MT4/5High minimum depositIs FMarketX Legit? FMarketX is not regulated by the financial services regulatory authority in Saint Vincent and the Grenadines, which means that the company lacks regulation from its registration site. Moreover, CNMV issued a warning notice about this company.What Can I Trade on FMarketX? Trading instruments available on the platform are limited, only forex currency pairs, and commodities.Tradable Instruments Supported Forex Currency Pairs✔Commodities✔Indices❌Stocks❌Cryptocurrencies❌Account Type There are three trading accounts on offer: A-Future, B-Grow, and E-Pro. Its basic account, that is A-Future, requires $250, in line with the industry standard. The other two accounts require much higher deposit requirements, $1,500 to open a B-Grow account and $10,000 to start an E-Pro account.Account TypeMin DepositA-Future$250B-Grow$1,500E-Pro$10,000Leverage The leverage can be up to 1:200. Customers should be aware that potential risks may be high if the leverage is high. Therefore, careful considerations are recommended.FMarketsX Fees The spreads on FX majors like EUR/USD are under 1 pip. Besides, it also charges an inactivity fee of 10% per month.Trading Platform FMarketX uses its own web-based trading platform, and it does not support MT4 or MT5.Trading PlatformSupported Available Devices Suitable forWeb Trader✔Web/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal The deposit options include credit cards and wire transfers. Withdrawal fees are needed, but other information such as the processing time is not clear.Withdrawal OptionsWithdrawal FeesWire transfers50 USD/GBP/EUROCredit cards25 USD/GBP/EURO (processing fee of 10 USD/ 7 EUR/ 5 GBPePayments25 USD/GBP/EURO