Overview of FTM Global Market
FTM Global Market, established in 2021 and registered in Denmark, lacks regulatory oversight. The broker offers forex, CFDs, indices, metals, and energy through MT5 platform, and provides six account types, MICRO, STANDARD, Premium, ECN Pro, Star VIP, and PAMM, with maximum leverage up to 1:500 and a minimum deposit as low as $10. However, the broker's lack of transparency in commissions and fees, deposit and withdrawal processes, and educational resources is a drawback. Customer support is accessible via email at support@ftmglobalmarket.com.
Pros and Cons
FTM Global Market offers multiple account types, and the low minimum deposit requirements for MICRO accounts could make it accessible for new traders or those with limited capital. Additionally, the variety of trading assets provided by FTM Global Market could offer ample opportunities.
However, the broker is unregulated. The unavailability of the official website further complicates the situation, making it difficult for traders to access vital information. Moreover, there is a lack of transparency regarding the payment methods, commissions, and fees, which can lead to unexpected costs. Lastly, the absence of phone support limits the avenues through which traders can seek assistance.
Is FTM Global Market legit or a scam？
FTM Global Market operates without regulation. This means there are no guarantees regarding the security of funds, transparency, or fair trading practices.
Market Instruments
FTM Global Market offers Forex, CFDs, indices, metals, and energy.Forex is a market where currencies are traded. CFDs (Contracts for Difference) is a type of financial derivative that allows traders to speculate on the price movements of various assets without owning them. Indices represent a statistical measure of the performance of a group of stocks. Metals typically include precious metals traded on the financial markets. Energy are commodities related to the energy sector, such as oil and gas.
Account Types
FTM Global Market offers six distinct trading account types:
MICRO Account: This beginner-friendly account requires a minimum deposit of $10, provides maximum leverage of 1:500, and features a minimum spread of 3 pips.
STANDARD Account: For regular traders, this account requires a minimum deposit of $100, offers leverage up to 1:400, and a minimum spread of 2 pips.
Premium Account: Geared towards more experienced traders, it requires a minimum deposit of $100, offers maximum leverage of 1:300, and features a minimum spread of 1.6 pips.
ECN Pro Account: This professional account demands a minimum deposit of $100 and offers maximum leverage of 1:200.
Star VIP Account: This premium account requires a minimum deposit of $10,000, offers leverage up to 1:200.
PAMM Account: Ideal for asset managers, this account type requires a minimum deposit of $1,000, provides leverage up to 1:200.
How to Open an Account with FTM Global Market
Since the website is offline, reach out to FTM Global Market's customer support via email at support@ftmglobalmarket.com.
Leverage
The maximum leverage provided by the broker is up to 1:500, available on the MICRO account. The STANDARD account offers a maximum leverage of 1:400, the Premium account provides up to 1:300, while both the ECN Pro and Star VIP accounts offer a leverage of up to 1:200. The PAMM account also offers leverage up to 1:200. This unregulated broker offering such high leverage intends to attract innocent traders.
Spreads & Commissions
The MICRO account starts with a minimum spread of 3 pips, and the STANDARD account offers a minimum spread of 2 pips. The Premium account features a lower minimum spread of 1.6 pips.
Trading Platform
FTM Global Market leverages the MetaTrader 5 (MT5) trading platform, with its advanced features and user-friendly interface. MT5 equips traders with sophisticated charting tools, automated trading capabilities via Expert Advisors (EAs), and various order types. Additionally, the platform includes an integrated economic calendar and supports multi-asset trading across forex, CFDs, indices, metals, and energy markets.
Customer Support
Email: support@ftmglobalmarket.com
Conclusion
FTM Global Market, though offering forex, CFDs, indices, metals, and energy trading, falls short because of its lack of regulatory oversight. Despite the appeal of multiple account types, low minimum deposits, and high leverage options, the absence of regulation, coupled with a non-functional official website and minimal customer support channels, undermines its reliability.
FAQs
Q: Is FTM Global Market regulated？
A: No, FTM Global Market is not regulated by any financial authority.
Q: What assets can I trade with FTM Global Market？
A: You can trade forex, CFDs, indices, metals, and energy with FTM Global Market.
Q: What is the minimum deposit for FTM Global Market accounts？
A: The minimum deposit is $10 for a MICRO account.
Q: What leverage does FTM Global Market provide？
A: The broker offers leverage up to 1:500 on the MICRO account.
Q: How do I reach FTM Global Market support？
A: You can contact support via email at support@ftmglobalmarket.com.
Q: Does FTM Global Market have an active website？
A: No, the official website is currently offline.
Q: What types of accounts are available at FTM Global Market？
A: Account types include MICRO, STANDARD, Premium, ECN Pro, Star VIP, and PAMM.
Risk Warning
Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.
Additionally, the review's generation date is a critical consideration, as information may have evolved since then. We strongly advise readers to verify updated details directly with the company before making any decisions, as the readers must be aware of and willing to accept the inherent risks involved in utilizing this information.
