Score
FTMarkets
The Virgin Islands|5-10 years| https://www.ftmarkets.com
Website
Rating Index
Contact
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic Information
The Virgin Islands
Account Information
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Sources
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Mkt. Analysis
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ftmarkets.com
Server Location
Hong Kong
Website Domain Name
ftmarkets.com
Server IP
116.251.230.220
Company Summary
Note: FTMarkets's official website - https://www.ftmarkets.com is currently inaccessible normally.
| FTMarkets Review Summary | |
| Founded | 2018 |
| Registered Country/Region | The Virgin Islands |
| Regulation | Unregulated |
| Market Instruments | Forex, gold, and silver, stocks and indices |
| Demo Account | ❌ |
| Leverage | 1:500 |
| Spread | From 1.1 pips (Mini account) |
| Trading Platform | Web |
| Min Deposit | $50 |
| Customer Support | Tel: +84 12280088 |
| Email: cs@ftmarkets.com | |
| Facebook: https://www.facebook.com/ftmarketsglobal | |
| Instagram: https://www.instagram.com/ftmarketsglobal/ | |
| Physical address: Office 4, Unit 2, 2nd Floor, Dekk Complex, Plaisance, Mahe, Seychelles | |
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
| Pros | Cons |
| Diverse tradable asset classes | Unavailable website |
| Multiple trading accounts | No regulation |
| Mini account offered | No demo accounts |
| No commissions | No reliable trading platform |
| Low minimum deposit | |
| Popular payment options |
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.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Gold & Silver | ✔ |
| Stocks | ✔ |
| Indices | ✔ |
| Commodities | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
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).
| Account Tpye | Min Deposit | Spread | Commission |
| Mini | $50 | From 1.1 pips | ❌ |
| Gold | $100 | From 0.7 pips | ❌ |
| Platinum | $1,000 | From 0.5 pips | ❌ |
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.
| Trading Platform | Supported | Available Devices | Suitable for |
| Web Trading Platform | ✔ | Web | / |
| MT4 | ❌ | / | Beginners |
| MT5 | ❌ | / | Experienced traders |
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.
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Australia Appointed Representative(AR) Revoked
- Seychelles Retail Forex License Revoked
- High potential risk
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The market trend is always modified.
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Please be careful everyone
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FX2165330395
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The account will be checked monthly, especially the new account of $1,000. The account which is checked is closed automatically and you can’t trade or withdraw. You should think twice before using this platform.
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2020-09-04
Dyshmliy
United Kingdom
Be aware of the FTMarkets. I came to know that my best friends Benjamin’s multiple trading accounts have been wiped out. Be careful before joining this broker.
Neutral
2023-02-23