Review of FMTrader

Financial Markets Trader

Review of FMTrader

Overall Score

  • Ease of use
  • Features
  • Value for money
  • Support
  • Other
  • Overall Score:
    5.5

FMTrader Makes Trading Options Easy

100% Web Based Digital Options Trading FMTrader broker is a relatively new entrant to the highly competitive binary options trading arena. There are many benefits and features available through this broker, making it one of the most sought-after binary options trading platforms on the market. Traders can enjoy a download-free trading platform, replete with a user-friendly interface. Since no prior experience is required to trade binary options, anyone of legal age can enjoy dabbling in the financial markets with indices, stocks, commodities and foreign exchange. FMTrader is owned and operated by Broad Media Ltd and is headquartered in Gibraltar. It should be pointed out that FMTrader is not yet licensed by any authority, but it has purportedly made an application for a licence to the Cyprus Securities and Exchange Commission (CySEC).

Features of FMTrader Broker

One of the first things you'll notice when you log on to this binary options broker is the highly interactive web interface. Traders are presented with a video that features everything you need to know about trading binary options. It covers 60 Second Trading, Option Builder, One Touch and Pro Trader. A wide range of commodities, currencies, indices, stocks, pairs and top picks are available to traders. This broker offers returns on binary options trades up to 90% and as high as 550% on one touch options. If you need to contact customer support, professional and courteous agents are available 24/7, and The Binary Advisor can confirm the competence of these support agents. You can reach the support agents via local telephone, e-mail or live chat.

100% Free No-Download Trading Platform

Once you're ready to start trading for real money at FMTrader, you will need to complete an account registration. This is easily done by entering your personal details, verifying them by e-mail and then placing a deposit. Available currencies are USD or EUR. When we reviewed this trading platform, we found that the minimum deposit amount is 250USD/EUR or 20,000 JPY, but the maximum that you can place on any individual trade is $5000 by credit card and $10,000 by Western Union.Minimum withdrawal amount is 100USD/EUR. As mentioned, the trading platform is available directly off your browser with no need to download any software. This is definitely a big plus point since it means that you will not be downloading malicious software to your PC. There are multiple account types available including the crème de la crème – the Platinum Account. This is followed in descending order by the Gold Account, Silver Account, and Bronze Account. Each of them offers unique benefits, rewards, resources and accounts support. In terms of the actual trading platform, there are several options available to traders including rollovers, double up options, call options and put options. All of the asset prices provided by a live streaming feed from Thomson Reuters, but there are delays and differences between quoted prices and featured prices. Once you are logged into the trading platform, you will be able to monitor and track your trading history atFM Trader. The Trading Academy at FMTrader offers a wealth of resources for you to understand the markets, and specific tradable assets. Articles, eBooks, video courses, video on demand and daily reviews are readily available to all traders. These resources make it easy to understand how to trade stocks, trading indices, trade currencies or trade commodities. The actual platform itself is really easy to use, since all your required to do is place a green call option or a red put option on your preferred asset. Once you've selected your expiry time, your forecast will be rewarded with payouts of between 75% and 90% of standard options or as high as 550% for one touch options. Mobile traders will be heartened to know thatFMTrader offers an Android App and an iOS App, available at the Google play store and the App Store respectively.

Bonuses and Promos

Unfortunately, the bonuses and promotions are not displayed on site. To find out about bonuses and promotions, you can access the frequently asked questions page. If you click on the Deposit Tab of the Frequently Asked Questions, you will see that the general volume requirement on customer account wagers for bonuses is x40 of the qualifying deposit for that particular bonus credit. It is best to contact customer support before you make a deposit to find out what offers are currently available. Another great feature at FMTrader is the demo trading platform. This is a great asset for new traders to practice different strategies before they deposit and trade for real.

Unique Features

The broker utilizes SpotOption trading platform. FMTrader is not the only broker that uses that platform which is not a surprise taking into consideration its popularity. That makes FMTrader 100% web based. You don't need to download any apps to trade from your laptop or computer which saves you from unnecessary hassles.

Conclusion

Unfortunately, there are many negative reviews about this broker. The company's management team try to consider all complaints and work on adjustments to their platform. We hope that they will succeed and the broker will make progress in the future. Anyways, we recommend to use it with caution until that happens.

You can find more information about binary options brokers on our brokers review page.