FTMarkets Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-30 15:47

Abstract：FTMarkets, registered in the Virgin Islands in 2018, serves as a financial brokerage firm offering over 100 types of trading options. The company provides three types of accounts, comprehensive customer support channels, and leverage up to 1:500. However, this broker lacks legal regulation from any financial authorities.

　　Note: FTMarkets's official website - https://www.ftmarkets.com is currently inaccessible normally.

FTMarkets Review Summary
Founded	2018
Registered Country/Region	The Virgin Islands
Regulation	Unregulated
Market Instruments	Forex, gold, and silver, stocks and indices
Demo Account	❌
Leverage	1:500
Spread	From 1.1 pips (Mini account)
Trading Platform	Web
Min Deposit	$50
Customer Support	Tel: +84 12280088
	Email: cs@ftmarkets.com
	Facebook: https://www.facebook.com/ftmarketsglobal
	Instagram: https://www.instagram.com/ftmarketsglobal/
	Physical address: Office 4, Unit 2, 2nd Floor, Dekk Complex, Plaisance, Mahe, Seychelles

　　FTMarkets, registered in the Virgin Islands in 2018, serves as a financial brokerage firm offering over 100 types of trading options. The company provides three types of accounts, comprehensive customer support channels, and leverage up to 1:500. However, this broker lacks legal regulation from any financial authorities.

Pros and Cons

Pros	Cons
Diverse tradable asset classes	Unavailable website
Multiple trading accounts	No regulation
Mini account offered	No demo accounts
No commissions	No reliable trading platform
Low minimum deposit
Popular payment options

Is FTMarkets Legit?

　　FTMarkets lacks regulation and is not legitimate. It claims to have a physical address in Seychelles, but upon our field investigation team's visit to the supposed location, no genuine business premises were found.

What Can I Trade on FTMarkets?

　　FT Markets offers investors access to 60 financial tradable instruments, including foreign exchange, gold, and silver, as well as stocks and indices. In terms of market instruments, it is quite average.

Tradable Instruments	Supported
Forex	✔
Gold & Silver	✔
Stocks	✔
Indices	✔
Commodities	❌
Cryptocurrencies	❌
Bonds	❌
Options	❌
ETFs	❌

Account Type/Fees

　　Three types of real trading accounts are available on the FT Markets platform: Mini (minimum initial deposit of $50), Gold (minimum initial deposit of $100), and Platinum (minimum initial deposit of $2,000).

Account Tpye	Min Deposit	Spread	Commission
Mini	$50	From 1.1 pips	❌
Gold	$100	From 0.7 pips	❌
Platinum	$1,000	From 0.5 pips	❌

Leverage

　　FTMarkets offers a leverage of 1:500 for all of its account types, which is relatively high in the industry. While such high leverage can potentially result in significant profits on a single trade, it also significantly amplifies losses. Therefore, we do not recommend using such a high leverage with an unregulated broker like FTMarkets.

Trading Platform

　　The trading platform provided by FT Markets does not have a specified name and seems to be some sort of web-based platform. Due to the inability to access the official website, we were unable to register for an account or test the platform. In summary, it is best to avoid considering this trader.

Trading Platform	Supported	Available Devices	Suitable for
Web Trading Platform	✔	Web	/
MT4	❌	/	Beginners
MT5	❌	/	Experienced traders

Deposit and Withdrawal

　　FT Markets accepts deposits via credit card, wire transfer, and electronic wallets, but it does not specify the minimum deposit amount. Alarmingly, wire transfers are non-refundable, which suggests a potential scam to defraud your assets. Therefore, you are advised to steer clear of this trading service.