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FMarketX -

Score

1.44 /10
Danger

FMarketX

Saint Vincent and the Grenadines

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://fmarketx.com

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Score

Regulatory Index0.00

Business Index6.43

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Regulatory disclosure

Danger

FR AMF
2022-01-10
Blacklists of unauthorized companies and websites: Forex
FMarketX
ZMarket
Infinity4x
Alphatradeplus
IGC Markets

Warning

FR AMF
2022-01-10
Authority blacklists and alerts
FMarketX

Broker Information

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Company Name

FMarketX

Company Abbreviation

FMarketX

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

FMarketX · Company summary

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

User Reviews

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User comment

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Comments

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yewL
more than one year
This broker is extremely shady and dishonest, making him the worst broker in the whole wide world. Imagine that I activated my orders at a price that was 30 pips higher than what I intended because of spillage. If you are more of a fundamental trader, you should just get the hell away from this broker and avoid him at all costs.
This broker is extremely shady and dishonest, making him the worst broker in the whole wide world. Imagine that I activated my orders at a price that was 30 pips higher than what I intended because of spillage. If you are more of a fundamental trader, you should just get the hell away from this broker and avoid him at all costs.
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2023-03-20 17:08
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FX1305842923
more than one year
My friends told me that companies registered at Saint Vincent and the Grenadines are mostly unreliable, and I didn't quite believe it at first. Now I see that many companies registered there have closed down, such as FMarketX. Terrible!
My friends told me that companies registered at Saint Vincent and the Grenadines are mostly unreliable, and I didn't quite believe it at first. Now I see that many companies registered there have closed down, such as FMarketX. Terrible!
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2023-03-02 17:17
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