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FMarketX-Overview of Minimum Deposit, Spreads & Leverage

WikiFX | 2024-11-14 18:52

Abstract: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.

Note: FMarketX's official website https://fmarketx.com/ is currently inaccessible normally.

FMarketXReview Summary
Founded2020
Registered Country/RegionSaint Vincent and the Grenadines
RegulationNo regulation
Market InstrumentsForex currency pairs, and commodities
Demo Account/
LeverageUp to 1:200
EUR/USD SpreadUnder 1 pip
Trading PlatformWeb
Min Deposit$250
Customer SupportTel: +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 typesInaccessible 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.

Is FMarketX Legit?

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 TypeMin 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 PlatformSupported Available Devices Suitable for
Web Trader✔Web/
MT4❌/Beginners
MT5❌/Experienced traders
Trading Platform

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 OptionsWithdrawal Fees
Wire transfers50 USD/GBP/EURO
Credit cards25 USD/GBP/EURO (processing fee of 10 USD/ 7 EUR/ 5 GBP
ePayments25 USD/GBP/EURO

LeverageBrokerDealerForex tradingForex Broker

Related broker

No Regulation
FMarketX
Company name:FMarketX
Score
1.49
2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.49

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