FCMarket-Overview of Minimum Deposit, Spreads & Leverage

BASIC INFORMATION:

FCMarket is an offshore broker, registered in Saint Vincent and the Grenadines (SVG FSA). Launched in 2007, the trading provider offers the usual array of assets, from FX to CFDs. Both retail and institutional traders can open a live account.

REGULATORY INFROMATION: LICENSE

No valid regulatory information. Please be aware of the risk!

MARKETS

At FCMarket there are 47 currency pairs to choose from, 5 commodities including coffee and sugar, and 11 indices such as NASDAQ and FTSE 100. Theres also a selection of precious metals including gold and silver, as well as 56 global shares such as Google and Amazon. Notable absentees include cryptocurrencies, such as Bitcoin and spread betting.

MINIMUM DEPOSIT

There are several contradictions on the website around how many accounts are offered. The Premium account appears to be the standard account; however, you need a rather expensive $500 minimum deposit to apply. On another page, however, the minimum deposit is quoted at $50. There is also apparently a VIP account, though the broker is not transparent with trading conditions here either.

TRADING FEES

FCMarket seems to be using spreads from HF Markets, which is a little concerning. Spreads for EUR/USD are around 0.9 pips and approximately 1.18 for the FTSE 100. Gold spreads are around 0.35.

LEVERAGE

The maximum leverage available is 1:400 for accounts with less than $400,000. For accounts over $400,000, the maximum leverage rate is 1:100.

PAYMENT METHODS

Accepted payment methods include bank transfer, credit cards, and e-wallets such as Skrill and Neteller. Deposits are processed on business days, between Monday to Friday from 09:00 am to 5:00 pm (GMT). Withdrawals are executed immediately and take a maximum of 3 working days.

The minimum deposit is rather high at $500 and traders should check with their bank or payment processor for any intermediary fees.

TRADING PLATFORMS

· Meta Trader 4

ACCEPTED COUNTRIES

FCMarket accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use FCMarket from United States.

TRADING HOURS

Trading at FCMarket is open 24 hours a day from Sunday 21:00 (GMT) to Friday 21:00 (GMT). Specific asset operating hours are provided within the trading platform.

CUSTOMER SUPPORT

The broker does not have a telephone number or a live chat, so the only way to contact them is by emailing info@fcmarket.com.