FXMarket Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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They contacted me and asked me to deposit, and I agreed with countless benefits because I trusted them. I deposited about 1,500 Euros in the bank, which was a wrong decision. After that, I didn't see the money from the broker, and they prevented me from entering the platform. No one answered me again. I didn’t get my money back today, please help me.
Summary: The overall evaluation of Fxmarket presents a concerning picture, with numerous reports indicating potential scams and regulatory issues. While some users have reported positive experiences, the overwhelming sentiment leans towards caution, particularly due to the lack of robust regulatory oversight and numerous complaints regarding withdrawal issues.
Note: It is important to highlight that different entities operating under the name "Fxmarket" may exist across various regions, which complicates the evaluation of this broker. This review aims for fairness and accuracy by analyzing multiple sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 3 |
We evaluate brokers based on extensive research and user feedback, ensuring a comprehensive overview.
Founded in 2019, Fxmarket claims to provide a digital trading platform for forex and CFD trading. While it offers various account types, including standard, VIP, and ECN accounts, the absence of a well-established regulatory framework raises significant concerns. Reports indicate that Fxmarket operates under the guise of being associated with regulated entities, which has been disputed by the actual regulatory bodies, leading to accusations of being a clone firm. This lack of transparency is a red flag for potential traders. The platform does not specify whether it supports popular trading software like MT4 or MT5, nor does it provide clear details about the asset classes available for trading.
Fxmarket has been scrutinized for its regulatory status, with various sources indicating that it lacks the necessary oversight from reputable financial authorities. According to BrokersView, the broker may be operating as a clone firm, misleading users by falsely claiming affiliation with legitimate entities. This raises significant concerns about the safety of funds and the overall trading environment.
The minimum deposit requirement for opening an account with Fxmarket is reported to be $100, but users have expressed difficulties in withdrawing funds once deposited. Numerous complaints highlight issues such as accounts being frozen unexpectedly, making it challenging for traders to access their capital. As noted on Sitejabber, users have described their experiences as frustrating, with some claiming they were unable to withdraw their profits.
While specific details regarding spreads and commissions are sparse, users have indicated that the trading costs are higher than expected, which can significantly impact profitability. The lack of transparency surrounding fees is another concern, as potential traders may find themselves facing unexpected charges.
There is little information available about the trading platforms offered by Fxmarket. The absence of popular platforms such as MT4 or MT5 could be a disadvantage for traders who rely on these tools for technical analysis and automated trading. Furthermore, the lack of educational resources and trading tools limits the support available for both novice and experienced traders.
Customer support for Fxmarket has received negative feedback, with many users reporting long wait times and unresponsive service. According to WikiFX, the broker has a low score due to numerous complaints, indicating that customer service is a significant area of concern.
Fxmarket reportedly offers customer service in English, but the overall accessibility of support is questioned. The broker's availability in various regions is also unclear, with indications that it may not be accessible in some jurisdictions where regulatory compliance is stringent.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 3 |
Account Conditions (3/10): The minimum deposit is relatively low at $100, but the lack of clarity regarding account types and conditions is a concern.
Tools and Resources (4/10): Limited information on trading tools and educational resources hampers the trading experience for users.
Customer Service and Support (2/10): Numerous complaints about unresponsive support highlight a critical area for improvement.
Trading Setup (3/10): The absence of popular platforms like MT4 or MT5 could deter traders looking for advanced trading features.
Trustworthiness (1/10): The lack of regulation and numerous reports of scams significantly diminish trust in Fxmarket.
User Experience (3/10): Overall user experiences appear mixed but lean towards negative, particularly concerning withdrawals and customer service.
In conclusion, the Fxmarket review paints a troubling picture for potential traders. The broker's lack of regulatory oversight, combined with numerous complaints about withdrawal issues and poor customer service, suggests that traders should exercise extreme caution. While some users may have found success, the risks associated with trading through Fxmarket are substantial, making it essential to consider alternative, well-regulated brokers.
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