Score
FMarketX
Saint Vincent and the Grenadines|2-5 years| https://fmarketx.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Website
fmarketx.com
Server Location
United States
Website Domain Name
fmarketx.com
Server IP
172.67.178.73
Company Summary
Note: FMarketX's official website https://fmarketx.com/ is currently inaccessible normally.
| FMarketXReview Summary | |
| Founded | 2020 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | No regulation |
| Market Instruments | Forex currency pairs, and commodities |
| Demo Account | / |
| Leverage | Up to 1:200 |
| EUR/USD Spread | Under 1 pip |
| Trading Platform | Web |
| Min Deposit | $250 |
| Customer Support | Tel: +44 7912 57 6421 |
| Address: Beachmont Business Centre, Suite 107, Kingstown, St. Vincent and the Grenadines | |
FMarketX was registered in 2020 in Saint Vincent and the Grenadines. It uses its own trading platform, which is a web-based one. The minimum deposit is $250, and the leverage can be up to 1:200. However, it is not regulated currently.
Pros and Cons
| Pros | Cons |
| Multiple account types | Inaccessible website |
| Lack of regulation | |
| Limited trading asset classes | |
| No MT4/5 | |
| High minimum deposit |
Is FMarketX Legit?
FMarketX is not regulated by the financial services regulatory authority in Saint Vincent and the Grenadines, which means that the company lacks regulation from its registration site. Moreover, CNMV issued a warning notice about this company.
What Can I Trade on FMarketX?
Trading instruments available on the platform are limited, only forex currency pairs, and commodities.
| Tradable Instruments | Supported |
| Forex Currency Pairs | ✔ |
| Commodities | ✔ |
| Indices | ❌ |
| Stocks | ❌ |
| Cryptocurrencies | ❌ |
Account Type
There are three trading accounts on offer: A-Future, B-Grow, and E-Pro. Its basic account, that is A-Future, requires $250, in line with the industry standard. The other two accounts require much higher deposit requirements, $1,500 to open a B-Grow account and $10,000 to start an E-Pro account.
| Account Type | Min Deposit |
| A-Future | $250 |
| B-Grow | $1,500 |
| E-Pro | $10,000 |
Leverage
The leverage can be up to 1:200. Customers should be aware that potential risks may be high if the leverage is high. Therefore, careful considerations are recommended.
FMarketsX Fees
The spreads on FX majors like EUR/USD are under 1 pip.
Besides, it also charges an inactivity fee of 10% per month.
Trading Platform
FMarketX uses its own web-based trading platform, and it does not support MT4 or MT5.
| Trading Platform | Supported | Available Devices | Suitable for |
| Web Trader | ✔ | Web | / |
| MT4 | ❌ | / | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
The deposit options include credit cards and wire transfers. Withdrawal fees are needed, but other information such as the processing time is not clear.
| Withdrawal Options | Withdrawal Fees |
| Wire transfers | 50 USD/GBP/EURO |
| Credit cards | 25 USD/GBP/EURO (processing fee of 10 USD/ 7 EUR/ 5 GBP |
| ePayments | 25 USD/GBP/EURO |
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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