We are going to evaluate the offer that FXTradeMarket has for its traders in this FXTradeMarket Review. They offer MetaTrader 4 as their trading platform and require a minimum deposit of 250 USD. It is important to note that between 74-89% of retail investors accounts lose money when trading CFDs; thus, one should consider if they can afford the risk of potentially losing their money.
Address: Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K367, 10119, ESTONIA
Warning: Financial Conduct Authority (United Kingdom)
Domain Age Information of FXTradeMarket
|Date Registered||August 24, 2017|
|Domain Age||5 years, 8 months, 14 days, 16 hours, 22 minutes, 13 seconds|
What is FXTradeMarket?
FX Trade Market is a forex brokerage, situated in Estonia. Ingoten OÜ is its owner and operator. A wide variety of trading goods are available, and prospective clients have access to a web-based trading platform. The EUR/USD spread is particularly small at just 1 pip, which is much less than the marketplace norm.
Regulation of the FX Trade Market and Financial Security
The capital of the nation serves as the company’s official address, Ingoten OÜ. On the broker’s website, it is stated that the firm is subject to the MTR’s regulatory monitoring in Estonia, although this is untrue. The MTR, which falls well short of true regulation, is the nation’s corporate register where the corporation is listed. In actuality, the MTR lacks the power to control or license forex firms in Estonia. On purpose, the website’s information is misrepresented. Such cunning ploys lead us to believe that potential customers of the company may be exposed to a variety of risks.
No specified trading conditions and no demo accounts
None of the trading terms that the broker offers are disclosed on the FX Market website. This is simply another warning sign regarding this business. Its lack of free demo accounts is even more severe, but at least everyone may view the site and its spread without logging in.
Fees for deposits and withdrawals on FXTradeMarket
Only MasterCard, bank/wire transfer, and Visa are accepted for deposits and withdrawals from potential brokerage clients.
There are no well-known options like Neteller, Skrill, or Bitcoin.
The following withdrawal clauses, which are unfavorable to their clients, can be found in the broker’s terms and conditions.
First off, withdrawals will only be executed if the minimum volume of trading criteria of ten times the amount of the deposit has been satisfied.
It retains the right to reject a withdrawal request while an account is being investigated for fraud, account manipulation, or a potential breach of its terms of service.
FXTradeMarket Review Conclusion
Unregulated Estonian forex broker FX Trade Market specializes in bitcoin CFDs. Although its forex spreads appear favorable, trading in cryptocurrencies has a less alluring cost. Anyhow, the absence of financial control and the unfavorable withdrawal requirements of this broker are what concern us the most.
If you want to invest in Bitcoin, you should look for a trustworthy exchange or trade it as a contract for difference (CFD) with an authorized forex broker.
FXTradeMarket fraud victim? Scam Helpers can help
File a complaint here if you were a victim of an FXTradeMarket scam or any other fraud, such as a binary, forex, or cryptocurrency scam to recover your money. Scam Helpers can handle your complaint and assist you with fund recovery. Before the damage gets significantly worse, we should start investigating the issue. Your one action can prevent you and other people from falling for such brokers’ tricks.
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