FM Trader

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Reference ID: #b59c0040-7598-11ea-aaf7-47e346d7ace6

FM Trader

ASIC advises this company could be involved in a scam

Page reading time: 1 minute

Do not deal with this business as it is unlicensed in Australia

This business has made unsolicited calls or sent emails about investing, financial advice, credit or loans. It does not hold a current Australian Financial Services (AFS) licence or an Australian Credit licence from ASIC.

Company details

6 Ioanni Stylianou 2nd Floor Office/Flat 201 2003
Nicosia Cyprus

Level 17 Dashwood House Old Broad Street EC2M 1QS

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35 Barrack Road Third Floor
Belize City

Bank Name: Noor Bank
Account Name: Ace Venture FZE
Account Number: 02410898100073

Account name: Fincompany SRO
Account number: CZ7627000000002114193161
Bank name: Unicredit Bank Czech

Account name: –
Account number: CZ4920200000002801081399
Bank name: –

FMTrader Broker Review

�� Demo Account:
⚖ Allows Hedging:
�� Allows Scalping:
�� Headquarters: Belize
�� Founded:
�� Trading Platform(s): SpotOption
�� Regulating Authority(s):
�� Minimum Deposit: 250
�� Maximum Leverage:

Visit FMTrader
Risk Warning: Your capital may be at risk

Our Review of FMTrader

Company Overview

With FMTrader, traders can trade with stocks, indices and commodities. This trading platform focuses specifically on binary options trading.

Account Types + Opening

It is free to open an account with FMTrader and this can be done by means of a simple online form. FMTrader offers various account types, including an Islamic account, and Bronze, Gold, Silver and Platinum accounts. The Bronze account is designed more for beginner traders, whilst the Platinum account is for experienced, professional traders who want to be able to trade larger sums of money.

Promotions, Sign Up + Deposit Bonuses

Bonuses and promotions available will depend on the type of account that you hold. For example, whilst the Bronze account offers a bonus of up to 20%, the Platinum account offers a bonus of up to 40%. This is still lower than most other online brokers, though, who tend to offer bonuses of 100% with higher powered accounts. There are other benefits associated with different account types – for instance, with the Platinum account you can enjoy a risk free trade with your first trade. One thing to note about bonuses with FMTrader is that they cannot be withdrawn instantly. Traders need to reach a certain turnover in their account before they can withdraw their bonus.

Commissions and Fees

Depending on the type of account that you hold and the types of trade that you make, FMTrader will charge a commission of between 15% and 35% on your trades. Though there are no fees associated with opening an account, there are charges attached to withdrawals, and these will vary depending on the payment type that you use. For example, the fee for making a withdrawal via wire transfer is $50, and the fee for a withdrawal using a credit card is $25.

Trading Platform Review & Mobile Apps

The FMTrader site has a basic feel to it. It provides some education (in the form of articles and a limited webinar service) as well as customer support and of course the trading platform itself. There is no FMTrader smartphone app available to date.

Deposits & Withdrawal Methods + Ease

Withdrawals can be done by credit card, bank transfer and by some online payment providers. Each withdrawal method has a different minimum withdrawal amount associated with it; with the wire transfer option, for instance, this amount is $250 and for a credit card it is $100. Once you have requested a withdrawal, FMTrader will take five days to process it.

Regulators & Safety: Are they a reliable, legitimate broker or a scam?

FMTrader is not regulated, however not all legitimate brokers are. Reports suggest that FMTrader is simply an unregulated, legitimate broker rather than any kind of scam.

FMTrader

Overview

FMTrader Broker is a private investment company, which is owned by Broad Media Limited, was founded in 2020 and registered in Great Britain. Company currently has no regulators, but English registration compensates this disadvantage, because the activity of broker is controlled by the laws of England. Trading Platform of FMTrader customized to the most demanding clients, provides a fairly wide range of trading assets and guarantees payments, even in case of a failed transaction. For the safety of customers’ personal data, the broker uses special protocols that provide a high degree of protection and reliability.

Rating chart

Detailed Information

USD, EUR, GBP, AUD, CAD, CHF, DKK, JPY, NZD, PLN, SGD, CCK, HKD, HUF, MXN, NOK, SEK, TRY, ZAR, HRK, XAU, XAG, BTC, BRL, INR, ILS, RUB

FMTrader Reviews

michelle from United States of America

Investment and Binary options fraud is growing hugely and I advice the public to stay away from these fraudulent companies. For those who are victims to these scams like myself, I strongly recommend you to approach an Ethical Hacker. I invested all my savings and was unable to get my hard earn money back from an unregulated company that kept demanding for more deposits. wolfpackackers has successfully recovered investment for their clients. I have hired them as well and they did not disappoint, they recovered all of my money in two weeks. If you are also a victim, Contact them via mail;;; admin @ wolfpackhackers . com

Vinston from Belgium

it was everything gone wrong for me, i fell fully for their lies, had my broker handle my account for me which made things get worse but i was out there working almost all hours of the day to make sure i stay stable financially in life and all of a sudden +booom . i need cash and they are wasting my time to approve my withdrawal request. At this point i am beginning to get scared and after a while they stopped responding to my emails which became worse, i was going nuts!

Gavin from United Kingdom

I believe everyone and anyone could be victims of online fraudsters, I lost a whooping $40,000 a month ago to option trading, I couldn’t get a withdrawal till i was luckily referred to a recovery company by a friend, they helped me get my money back from those thieves, i’m willing to share my experience with anyone out here who also needs help recovering funds from trading companies, feel free to contact me on

Lillian from Germany

HMMM, it s not supposed to do this but i think its nice to actually give this information out considering the fact that i have lost a lot of money to scammers and fake people claiming to have good strategies and i know its a general problem but it turned out not to be a total loss considering the fact that i stumbled into the right teacher through which i have been able to regain all i have lost and made huge profits like never before. You can reach him via angela.swiftrecoveryat at gmail com and i guarantee you’ll be glad you gave him a try. and be a success feel free to contact

Mohammed from Liberia

After incurring a huge loss with EZTrader, I was trapped again by this other binary options company and lost some more money. I feel that these people are not human beings, they have no hearts, they are evil and it is absolutely best not to have anything to do with them!

cammy from United States of America

cammyton2atgmaildotcom I got ripped off by a scam broker recently it was difficult to get a withdrawal after several failed attempts. I had to hire a recovery solution company to get my funds back. I don’t recommend this broker most of them can’t be trusted.

Eddie An from Romania

A unique program that helps to trade in the foreign exchange market, the market of binary options and stock exchanges, the Crypto-currency. Based on the analysis of indicators provides recommendations on trade.

Dean stead from United Kingdom

Fm trader contacted me I gave £250 then they said wasn’t enough so gave another £1250 to start trading, they have never carried out one trade for me or earnt me a single penny since, and won’t give money back or return my Emails.. it’s disgusting how they can legally Ripp everyone off from their honest hard earned money , can’t do anything about it. also Fm trader app no longer works in U.K.

carl paker from Canada

Binary Options is full of irregularities and inconsistencies. I found out this after losing my Gratuity invested with 24Options brokers.

Edward from United States of America

24Options, 2020binary and other binary options brokers are group of rippers, getting ripped off by them was a bad experience. I was saved by a specialist and I didn’t regret paying 12%. You can reach him on “mitnick at planetmail dot net” also if you care to get your funds back, he would definitely render some help but note that he recover funds from ten thousand dollars and above. Good luck guys

ASIC Warns Against FM Trader and RTG Direct Trading

ASIC latest update warns of FM Trader and RTG Direct Trading.

The Australian Securities and Investment Commission (ASIC) has advised the public of several warnings, through its MoneySmart.gov.au website, against potential scam firms purporting to offer financial services in Australia yet lacking the relevant licenses to do so. This update follows ASIC’s last warning against a marketing website that offers reviews of binary options brokers as covered by Finance Magnates yesterday.

The two new warnings were issued against FMTrader and RTG Direct Trading Ltd, and just yesterday against Top Ten Binary Brokers (toptenbinarybrokers.com), according to the three separate circulars so far this week.

Warning against FM Trader

One of the companies cited in the warning earlier this Monday in Australia, FM Trader, has the url fmtrader.com and addresses in Cyprus and Belize, including at 6 Ioanni Stylianou 2nd Floor Office/Flat 201 2003 in Nicosia, Cyprus, and Level 17 Dashwood House Old Broad Street and 35 Barrack Road on Third Floor in Belize City, Belize.

The FM Trader website lists itself as a brand owned by Terapad services LTD yet that entity is not authorized in Cyprus as a CIF, according to information on the Cyprus Securities and Exchange Commission (CySEC) website.

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The warning against FM Trader mentioned that the firm could be involved in a scam and that Australians should not deal with this business as it is unlicensed in the country. FM Trader was also added to a warning list by France’s financial market regulator earlier last year.

According to the warning, the firm allegedly made unsolicited calls or sent emails about investing, financial advice, credit or loans, but it doesn’t hold an Australian Financial Services (AFS) license nor an Australia Credit License from ASIC.

Warning against RTG Direct Trading

The second warning was against RTG Direct Trading Ltd, which uses the url rtgtrading.com and purports to have a UK address at 20-22 Wenlock Road London UK N1 7GU. ASIC noted in its warning about this firm that it too may be involved in a scam and that the public should not deal with this business as it is unlicensed in Australia.

In addition, ASIC added that RTG made unsolicited calls or sent emails related to financial services or credit card loans, yet lacked related AFS licenses or credit licenses from ASIC. Finance Magnates has previously written about RTG when Canadian authorities took action against the firm.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

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    Binomo

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