FTMarkets

Note: FTMarkets's official website - https://www.ftmarkets.com is currently inaccessible normally.

FTMarkets, registered in the Virgin Islands in 2018, serves as a financial brokerage firm offering over 100 types of trading options. The company provides three types of accounts, comprehensive customer support channels, and leverage up to 1:500. However, this broker lacks legal regulation from any financial authorities.

Pros and Cons

Is FTMarkets Legit?

FTMarkets lacks regulation and is not legitimate. It claims to have a physical address in Seychelles, but upon our field investigation team's visit to the supposed location, no genuine business premises were found.

What Can I Trade on FTMarkets?

FT Markets offers investors access to 60 financial tradable instruments, including foreign exchange, gold, and silver, as well as stocks and indices. In terms of market instruments, it is quite average.

Account Type/Fees

Three types of real trading accounts are available on the FT Markets platform: Mini (minimum initial deposit of $50), Gold (minimum initial deposit of $100), and Platinum (minimum initial deposit of $2,000).

Leverage

FTMarkets offers a leverage of 1:500 for all of its account types, which is relatively high in the industry. While such high leverage can potentially result in significant profits on a single trade, it also significantly amplifies losses. Therefore, we do not recommend using such a high leverage with an unregulated broker like FTMarkets.

Trading Platform

The trading platform provided by FT Markets does not have a specified name and seems to be some sort of web-based platform. Due to the inability to access the official website, we were unable to register for an account or test the platform. In summary, it is best to avoid considering this trader.

Deposit and Withdrawal

FT Markets accepts deposits via credit card, wire transfer, and electronic wallets, but it does not specify the minimum deposit amount. Alarmingly, wire transfers are non-refundable, which suggests a potential scam to defraud your assets. Therefore, you are advised to steer clear of this trading service.