FOTMARKETS Review - Is It Safe and Legit? How Does One Log In to Fotmarkets? - WikiFX

FOTMARKETS Information

FOTMARKETS is a global brokerage firm. Guided by the concept of cooperation and transparency, it offers diverse choices such as professional accounts and premium raw accounts. Its professional accounts are specifically tailored for experienced traders, with spreads as low as 0.6 pips and zero commission. It also comes with a maximum leverage of 1:500 and the MT5 platform. However, there are regional service limitations on the platform.

Pros and Cons

Is FOTMARKETS Legit?

FOTMARKETS claims to be a legitimate and compliant brokerage firm. It is strictly regulated by relevant financial regulatory authorities, but there is no evidence to show that this limited company is actually under supervision.

What Can I Trade on FOTMARKETS?

On the FOTMARKETS platform, investors have a wide variety of choices. They can engage in forex trading, stock CFD trading, and index CFD trading, and they can also enter the metal market to trade precious metals such as gold and silver.

Account Type

FOTMARKETS offers various account types. The PLUS Account is suitable for experienced traders. The Standard Account is targeted at traders of all types. The Raw Account is specifically designed for experienced traders. The base currencies are US dollars and euros. Islamic accounts can be selected, and the order execution mode is STP.

FOTMARKETS Fees

For the PLUSEnhanced Account of FOTMARKETS, the spread starts from 0.6 pips, and there is no commission. As for the Standard Account, the spread starts from 1.2 pips and also has no commission. In addition, for the Raw Account, the spread starts from 0.1 pips, but a commission of $2.5 per lot per side is charged.

Leverage

FOTMARKETS offers a leverage of up to 1:500. High leverage allows investors to control larger trading positions with relatively less capital, thereby magnifying potential profits.

Trading Platform

MetaTrader 5 is the trading platform used by FOTMARKETS. This platform is equipped with an advanced automated trading system and supports the copy trading function. Both experienced traders and novice traders can find a trading method that suits them. It offers multiple device versions for selection, including desktop versions (computer version and Mac version) and mobile versions (Android version, Android tablet version, iPhone version, and iPad version), which facilitate traders to conduct transactions anytime and anywhere.

Deposit and Withdrawal

FOTMARKETS supports various payment methods, including VISA, bank transfer, etc. The minimum deposit is US$30.

Copy Trading

The platform supports the copy trading function. Novice investors can choose to follow experienced traders with good trading performance on the platform to conduct transactions.

Bonus

FotMarkets has launched a deposit promotion, offering a 100% deposit bonus of up to $1000. That is, if you deposit $1000, you can get a trading credit of $1000. This activity applies to deposits of $50 or more. The credit will be immediately available after the deposit.