FALCOM Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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I joined falcon Falcom after reaching out to a few of the key members who were largely active on instagram at the time, all of which said it was the best decision they’d made. I liked the idea of what they were portraying, a simplistic approach to trading, no indicators, just pure price action and trendlines.
In this comprehensive review of Falcom, we delve into the broker's overall reputation, user experiences, and key features. While some reviews suggest a streamlined trading experience, others raise significant concerns regarding its regulatory status and user safety. Notably, the broker operates without valid regulatory oversight, which is a critical factor for potential traders to consider.
Note: It is essential to recognize that Falcom operates under different entities across various regions, which may affect its legitimacy and user experience. This review aims to provide a balanced perspective, drawing from multiple sources to ensure fairness and accuracy.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 4 |
How We Score Brokers: Our scoring is based on a combination of user reviews, expert opinions, and factual data regarding the broker's operations.
Founded within the last few years, Falcom is a trading platform primarily focused on forex and cryptocurrency instruments. The broker offers a trading experience through the popular MetaTrader 4 (MT4) platform. However, it is crucial to note that Falcom lacks a solid regulatory framework, which raises red flags for potential users. The assets available for trading include various forex pairs, cryptocurrencies, and commodities, catering to a diverse range of trader preferences.
Falcom operates without any valid regulatory oversight, which is a significant concern highlighted in various reviews. According to WikiFX, the broker has been flagged for its lack of regulation and potential risks associated with its business model. This unregulated status poses a high risk to traders, as there are no legal protections in place to safeguard their investments.
The broker primarily accepts deposits in cryptocurrencies, which could be appealing to crypto enthusiasts but limits options for traditional traders. The minimum deposit requirement is reported to be around $2,000, which is relatively high compared to many other brokers in the market. Users have expressed frustration regarding the withdrawal process, with some reviews indicating difficulties in accessing their funds.
There is limited information available regarding bonuses and promotional offers from Falcom. The absence of clear promotional strategies may deter potential clients looking for incentives to trade with the broker.
Falcom's trading costs include spreads that start from 1.5 pips for its basic accounts. However, the lack of transparency regarding commissions and other fees raises concerns. Users have reported unexpected charges, which can significantly impact overall trading profitability.
The broker does not provide clear information on leverage options available to traders. This ambiguity can be a deterrent for experienced traders who rely on leverage to maximize their trading potential.
Falcom supports the widely used MT4 platform, which is known for its user-friendly interface and advanced trading tools. However, the overall trading experience has been criticized for its lack of innovative features compared to other brokers.
Falcom has not clearly defined its restricted regions, but given its unregulated status, it may not be operating legally in many jurisdictions. This lack of clarity can pose risks for traders who may unknowingly violate local trading regulations.
Customer service at Falcom appears to be limited, with reviews indicating poor responsiveness and support. The broker does not have a robust support structure in place, which can lead to frustration among users seeking assistance.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 4 |
The account conditions offered by Falcom are not competitive, with a high minimum deposit requirement that may not be suitable for all traders. Many users have expressed dissatisfaction with the account types available, which lack flexibility and variety.
While Falcom provides access to the MT4 platform, the range of trading tools and resources is limited. Users have reported that the broker does not offer advanced analytical tools or educational resources that are commonly found with other brokers.
Customer service is a significant pain point for Falcom users. Reviews frequently mention long response times and a lack of effective support channels. This can be frustrating for traders needing immediate assistance with their accounts.
The overall trading experience with Falcom has been described as mediocre. Users have reported technical issues and a lack of innovative features that could enhance their trading experience.
The trustworthiness of Falcom is highly questionable due to its unregulated status. Many reviews highlight the potential risks associated with trading with a broker that lacks proper oversight, making it a less than ideal choice for many traders.
Despite some positive user experiences regarding the platform's usability, the overall sentiment leans towards dissatisfaction. Many users have reported encountering issues that detract from their trading experience.
In conclusion, while Falcom may appeal to some traders due to its cryptocurrency focus and the use of the MT4 platform, the significant concerns regarding its regulatory status, customer service, and overall trustworthiness cannot be overlooked. Prospective traders should exercise caution and consider these factors before engaging with the broker.
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