POE Market Forex Broker provides real users with 2 positive reviews, * neutral reviews and * exposure review!
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License
Educational resources are fantastic, and customer service is always helpful.
Well explain and regarding the service that POE Market provide, and willing to help by sending educational video, thank you John.
Summary: The Poe Market has garnered significant scrutiny due to its unregulated status, posing substantial risks for potential investors. Users have reported a mix of experiences, with concerns predominantly surrounding fund security and withdrawal issues. However, the platform offers a variety of trading instruments and educational resources, which some users find beneficial.
Note: It's important to recognize that the lack of regulation across different regions raises serious concerns about the safety of funds and the integrity of operations. This review aims to provide a balanced view based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 5 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 4 |
How We Rate Brokers: Our ratings are based on a comprehensive assessment of user feedback, expert opinions, and factual data regarding the broker's operations.
Founded in 2023, Poe Market operates as an unregulated forex trading platform based in China. It provides access to the MT5 trading platform and offers a range of financial instruments, including currency pairs, commodities, and indices. However, it lacks oversight from any major financial regulatory authority, which raises significant concerns regarding the safety of client funds.
Regulated Geographical Areas/Regions: Poe Market is based in China and does not hold a license from any recognized financial authority, such as the FCA or ASIC. This lack of regulation is a major red flag for potential traders.
Deposit/Withdrawal Currency/Cryptocurrency: The platform supports deposits from all banks, with limits dependent on individual bank policies. However, specific withdrawal methods and fees are not clearly outlined, which can create confusion for users.
Minimum Deposit: The minimum deposit requirement is not explicitly stated in the sources reviewed, indicating a potential lack of transparency.
Bonuses/Promotions: There is no mention of any bonuses or promotional offers available to new users, which is often a standard practice among regulated brokers to attract clients.
Tradeable Asset Classes: Poe Market allows trading in various asset classes, including major, minor, and exotic currency pairs, as well as commodities and indices. This variety can appeal to different trading strategies.
Costs (Spreads, Fees, Commissions): The platform charges overnight interest or swap rates on forex positions held beyond the daily settlement time. However, specific details on spreads and commissions remain vague, which can be a deterrent for cost-conscious traders.
Leverage: The available leverage options are not specified in the sources, which is critical information for potential investors looking to maximize their trading potential.
Allowed Trading Platforms: Poe Market exclusively offers the MT5 trading platform, known for its advanced features and user-friendly interface. However, the absence of other popular platforms may limit options for traders accustomed to different trading environments.
Restricted Regions: There is no clear indication of specific regions where trading is restricted, but the lack of regulation suggests that users from heavily regulated jurisdictions should approach with caution.
Available Customer Service Languages: The customer support is available in multiple languages, including English and Chinese, but the effectiveness of the support has been questioned by users.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 5 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 4 |
Account Conditions (3/10): The lack of transparency regarding minimum deposits and withdrawal conditions contributes to a low rating. Users have expressed concerns about the unclear terms associated with account management.
Tools and Resources (5/10): While Poe Market provides educational resources such as video tutorials and simulated trading environments, the overall effectiveness of these tools in enhancing user experience is debated among users.
Customer Service and Support (4/10): Customer service is available via email, but users have reported slow response times and a lack of helpfulness, which detracts from the overall experience.
Trading Setup (Experience) (5/10): The MT5 platform is a strong feature, but the absence of other platforms limits flexibility. User experiences vary, with some finding the interface intuitive while others struggle with the lack of personalized support.
Trustworthiness (2/10): The unregulated status of Poe Market significantly impacts its trust rating. Users are cautioned against investing due to the high risk of losing funds without any recourse.
User Experience (4/10): Overall user experience is mixed, with some appreciating the variety of tradable instruments while many express frustration over withdrawal processes and the lack of regulatory oversight.
In conclusion, while Poe Market offers a range of trading options, the significant risks associated with its unregulated status and mixed user experiences warrant caution. Potential traders are strongly advised to weigh the comprehensive trading facilities against the potential risks highlighted in this review.
