FTMarkets Forex Broker

Note: FTMarkets's official website - https://www.ftmarkets.com is currently inaccessible normally.FTMarkets Review SummaryFounded2018Registered Country/RegionThe Virgin IslandsRegulationUnregulatedMarket InstrumentsForex, gold, and silver, stocks and indicesDemo Account❌Leverage1:500SpreadFrom 1.1 pips (Mini account)Trading PlatformWebMin Deposit$50Customer SupportTel: +84 12280088Email: cs@ftmarkets.comFacebook: https://www.facebook.com/ftmarketsglobalInstagram: https://www.instagram.com/ftmarketsglobal/Physical address: Office 4, Unit 2, 2nd Floor, Dekk Complex, Plaisance, Mahe, Seychelles FTMarkets, registered in the Virgin Islands in 2018, serves as a financial brokerage firm offering over 100 types of trading options. The company provides three types of accounts, comprehensive customer support channels, and leverage up to 1:500. However, this broker lacks legal regulation from any financial authorities.Pros and ConsPros Cons Diverse tradable asset classesUnavailable websiteMultiple trading accountsNo regulationMini account offeredNo demo accountsNo commissionsNo reliable trading platformLow minimum depositPopular payment optionsIs FTMarkets Legit? FTMarkets lacks regulation and is not legitimate. It claims to have a physical address in Seychelles, but upon our field investigation team's visit to the supposed location, no genuine business premises were found.What Can I Trade on FTMarkets? FT Markets offers investors access to 60 financial tradable instruments, including foreign exchange, gold, and silver, as well as stocks and indices. In terms of market instruments, it is quite average.Tradable Instruments Supported Forex✔Gold & Silver✔Stocks✔Indices✔Commodities❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type/Fees Three types of real trading accounts are available on the FT Markets platform: Mini (minimum initial deposit of $50), Gold (minimum initial deposit of $100), and Platinum (minimum initial deposit of $2,000).Account TpyeMin DepositSpreadCommissionMini $50From 1.1 pips❌Gold $100From 0.7 pips❌Platinum $1,000From 0.5 pips❌Leverage FTMarkets offers a leverage of 1:500 for all of its account types, which is relatively high in the industry. While such high leverage can potentially result in significant profits on a single trade, it also significantly amplifies losses. Therefore, we do not recommend using such a high leverage with an unregulated broker like FTMarkets.Trading Platform The trading platform provided by FT Markets does not have a specified name and seems to be some sort of web-based platform. Due to the inability to access the official website, we were unable to register for an account or test the platform. In summary, it is best to avoid considering this trader.Trading PlatformSupported Available Devices Suitable forWeb Trading Platform✔Web/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal FT Markets accepts deposits via credit card, wire transfer, and electronic wallets, but it does not specify the minimum deposit amount. Alarmingly, wire transfers are non-refundable, which suggests a potential scam to defraud your assets. Therefore, you are advised to steer clear of this trading service.