There’s a warning out from regulators regarding FCS Markets. Please find out more in our thrilling fcs-markets.com.
FCS Markets (fcs-markets.com) uses false FCA registration details. And that made the British Columbia Securities Commission (BCSC) sound the alarm. The platform has used false registration credentials on multiple occasions. FCSMarkets is a clone trading platform that rips off anyone who invests. We believe it’s another forex exit scam waiting to wallop investors with withdrawal blockades. It’s already happening. Please find out more in our clear FCS MARKETS REVIEW.
About FCS Markets
FCS Markets claims to have grown massively, amassing over 5 million members on the homepage. If this were the case, it would be recognized by most traders. But unfortunately, that’s not the case, as the platform uses false narratives to lure investors in.
From the word go, we can tell that the people behind it have forex trading knowledge. When it comes to creating forex trading websites, not so much. Several rookie mistakes lead us to believe it was a hurried job.
The platform uses a dark-themed website which is not a forex-related website. Also, navigating through the website is an ordeal. User experience is far worse as the results mean losing your entire deposit.
Take Note: When dealing with the forex market, you need reliable tools to better your trades. You can use expert-backed robots that offer a clear analytical view of the market. Go for forex trading robots that over the years proven reliable to traders.
FCS Markets is far from being a reliable forex trading platform. Soon, other regulators will follow suit and issue warnings about using the platform. And that’s why we have to expose the store to protect our ardent readers.
The platform claims commitment to the people and trade on the about us page. However, there’s no clear structure regarding the platform’s background and history. You won’t find the platform with any solid footing in the industry.
Experts recommend doing due diligence before investing with any platform. Try and check the experiences of other users before committing funds. You can also reach out and request we do a review on your behalf.
Accounts FCS Markets
FCS Markets offers three trading accounts, all offering a distinctive feature. These three include Beginner, Gold, and Platinum. In addition, each of these accounts targets a different demographic of users. These are the features making investors sign up with the platform.
Let’s take a sneak peek at the accounts;
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It’s the account set for beginners or novice traders. You have to make a minimum investment of €250 to get started. It has favorable maximum leverage of 1:30 with spreads starting at 0.0 pips. Decimal pricing is five and no commissions per trade.
For the gold account holder, there’s a minimum investment requirement of €5,000. The account offers maximum leverage of 1:300. There’s a maximum allowed deposit of €24,999, with members getting three trading instruments.
You have to deposit a minimum of €25,000 with the account. Commissions per trade start at €1 per lot, with members getting three trading instruments. The account mainly targets institutional traders. However, members get a promise of copy trading support, which is not the case.
Having leverage of 1:500 with the platinum account makes no sense. The platform puts your trading position at risk, especially with the set trading instruments. We see a platform going against set leverage positions.
Regulators in Europe have set the maximum leverage at 1:100. In the United States, the maximum leverage is 1:50 for retail traders. Only crypto assets enjoy higher leverage in each jurisdiction.
That said, the platform doesn’t provide fair trading conditions. Despite having a demo account, it doesn’t have full trading platform capabilities. The demo account is another buy/sell option type.
Members can’t fully use the demo account to test the platform’s set conditions. And that’s why we have to expose the store’s features. At best, these are harsh trading conditions, driven to take advantage of investors.
The spreads on some of these assets don’t give investors any footing while trading. With the commissions per lot also a problem, investors need to be extra careful. These are some of the issues that put your position at risk.
Assets and trading instruments
There are five classes of trading instruments available on the platform. These include commodities, cryptos, forex, indices, and stocks. Each of the accounts can only use three trading assets.
You get to trade commodities such as cotton, crude oil, metals, natural gas, etc. Unfortunately, the platform fails to mention the crypto pairs available on the accounts. We believe the crypto available includes Bitcoin, DOGE, Ethereum, Litecoin, and Ripple.
Forex trading is at the core of the platform’s activities. However, the platform seems to offer only three pairs. You trade with three major currency pairs, EUR, GBP, and USD. Members don’t spread their risks with exotic or minor currencies.
Indices play a critical role in ensuring day traders irk a living. Some of the leading indices to find include DAX, Dow Jones, FTSE, NASDAQ, NIKKEI, etc. In addition, you get to trade in the world’s largest market for all commodities.
Shares have been around since trading started. As a result, you get a chance to own a piece of the company for a limited time. Some of the shares to find include tech giants Apple, Google, and Microsoft.
There’s no indication of who owns or runs the platform. We only get false claims that the platform was registered in London. Upon checking the Company’s Register, there’s no such entity existing.
And that makes FCS Markets an anonymous and unregistered trading platform. You don’t want to invest in an anonymous platform for obvious reasons. Members don’t get a chance to withdraw funds from such entities.
Recovering funds from an anonymous platform is improbable because the owner stores funds. Most of these anonymous platforms store funds in offshore banks. Recovery agents don’t have the power to freeze these bank accounts.
Only regulators and a court order can help members recover funds, which takes time. The best way to protect yourself is to avoid such platforms. Try and confirm the business registry details with the concerned authority.
Compliance, License, and Registration FCS Markets
FCS Markets is not a licensed or registered trading platform. Those who invest with the platform will likely lose their deposits as it’s an exit scam. The British Columbia Securities Commission issued a warning regarding investing with the platform.
Not only is fcs-markets.com anonymous, but it’s also unregulated, double trouble for investors. First, you need to confirm whether a platform is dully registered with authorities. The platform doesn’t have any legal framework to follow without any registration.
Check with regulators such as ASIC, BaFIN, BCSC, CNMV, CONSOB, CySEC, and the FCA. Other reputable regulators include CFTC, FINMA, NFA, and the SEC. These are the best regulators out there.
Deposit and fund safety FCS Markets
Funds are far from safe from a platform that fails to segregate accounts. The owner stores all funds in a single offshore account. If the owner decides to call it quits, no member will get any compensation.
The platform fails to offer insurance cover for deposits made. That’s another reason to stay away from fcs-markets.com.
Final remarks FCS Markets
PLEASE STAY AWAY FROM FSC MARKETS.
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