FXM Trader Review: Fxmtrader.com Untrustworthy Broker

FXM Trader claims it has years of experience in the financial sector. The venture allegedly wants to be a unique entity that delivers financial results to traders. They are unlike any other entity in the industry. The broker makes trading easy and understandable to novice investors. However, before you decide to join this entity, we suggest you read this review.

 

The company states it equips clients with all the necessary materials. Therefore, they can trade in confidence and earn real-time profits. The venture utilizes a professional team to cater to the needs of customers. It features statistics of their happy clients.

A great investment scheme does not provide jargon content but instead showcases their proof of trading activities. FXM Trader shies away from availing trading results. Therefore, there is no evidence of investment. Customers that want to venture into online trading should get the right skills.

Moreover, this broker is operating illegally. We do not see a license on their website. The location of the company is also anonymous; this makes them risky to trust their venture. We suggest that you avoid dealing with the platform as we can only see red flags.

Fxmtrader.com Review

FXM Trader proclaims it has infinite trading opportunities for all investors. They provide financial instruments and world-class support. However, it is important to note the venture operating anonymously. They don’t credit the team, which could be because whoever is responsible for the scheme is running the whole show alone.

The broker also states that it pays to have a strategy. Nonetheless, the entity does not mention the technique it is using in its trading activities. The market bar is set high by reputable and transparent legit forex companies. These are platforms that have an idyllic trading history.

You will never find expert investors wasting their time with a rogue entity. Using a demo account does not guarantee that your funds are safe or you are going to have a successful journey. Scammers can manipulate the simulations. Therefore, you will feel that you are ready to open a live account while you are not.

FXM Trader is an offshore firm, and these are dangerous. They only have a perfect sales pitch. They are also convincing. Make sure that you have the right skills before choosing a broker. The market has become dangerous as fraudsters constantly design fake trading websites.

FXM Trader Trading Conditions and Accounts

FXM Trader has four trading accounts. They all have negative balance protection, no overnight fees, and efficient trading platform, a minimum trading lot volume of 0.1. Investors can also access the educational center. The Silver account has an account manager, market analysis, and a summary of the market.

Customers that choose the Gold package receive daily SMS signals and all other perks of the Silver account. The advantage of the Platinum account is access to the trading center platform and the assistance of the senior account manager. For the Diamond account user, there are no withdrawal fees. Traders can participate in events, credit cards and acquire direct numbers for trading rooms.

How are we supposed to believe the entity has qualified account managers while it fails to credit and introduce them to the public. For all, we know FXM Trader may be using fluff content to trap in more victims.

The only available trading platform is a web trader. It does not match the benefits of an MT4 or MT5. The available leverage is 1:200. The scheme acts as though it is operating from the UK, yet this is not the permitted cap. Legit forex entities from this region only offer 1:30 leverage. The spread is 0.6 pips which is profitable. Nonetheless, do not forget that this is a shady firm.

FXM Trader Withdrawal and Deposits

The minimum amount that clients can deposit is $500, which is double the standard price. They list payment methods such as Visa, Neteller, MasterCard, Skrill, and PayPal. FXM Trader is operating like all other scammers.

It does not feature a legal document. Therefore, clients will not know the minimum amount that they can deposit. The scheme has fees, but they are not specified. For your peace of mind, stay away from the company.

We also cannot seem to find clients’ testimonials. This is still a green company that we do not know the kind of services the investors should expect. You are better off without the broker.

Customer Support and Contact Details 

FXM Trader claims it originates from the UK. It also allegedly has offices in Monaco. They feature an address, email address, and phone number. Users can also fill in the contact form, and the venture will contact them. The red flag that the broker showcases does not allow them to collect funds from United Kingdom citizens and the world.

Moreover, we have seen several fraudsters fake their location just for transparency purposes. Kindly note that scammers will never reveal their location to avoid being caught by authority. Immediately they notice no funds are coming into their system. The broker will close down their business.

Offshore entities don’t last long in the market. Clients’ personal data is also not safe at the hands of con artists. We urge traders to deal with transparent schemes that reveal their operating areas and team. Your data will be secure as they cannot sell it to third parties.

Regulation Status of FXM Trader

FXM Trader is an unregulated broker that tries very hard to remain relevant in the industry. The venture admits that it doesn’t have a license from any financial body in the market. The company even makes up an excuse on why it exists in this manner. A platform that fails to respect the jurisdiction set by various governments should not be your go-to venture.

The firm displays falsehood statements. It states that financial watchdogs do not license companies that open short positions, and the bodies are also not permitting investors to venture with the market trend. The scam also claims that the agency only allows a few assets. The regulatory bodies are only trying to make the market conducive for all investors.

Avoid unregulated schemes like the plague if you want to get real-time profits. Your money is in great danger at FXM Trader. A platform must report its daily trading activities to the authority. This helps to ensure there is no price manipulation. It is a guarantee that you won’t get from this entity if you give them the benefit of the doubt.

The scheme can do whatever it pleases with your money as there is no segregation of money. Trade only with the leading and best-regulated investment scheme that guarantees fund safety.

The Domain Insight

FXM Trader is a company that was established in July 2021. The domain name will expire in 2023. The people that are responsible for the broker are anonymous. The firm has a global traffic engagement of 6,435,483.

Final Verdict

FXM Trader is a dangerous scheme. The entity is operating against the law. They do not have a trading history, and this is a big red flag. There is also no evidence of investors earning from the broker. If you care about your money, then stay away from this shady firm.

Invest with some of the best forex trading companies in the market. They offer the best experience. The customer support is also professional and friendly. You can contact them anytime.

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