FinancesMarkets Review Is Finances-markets.com A Scam Broker

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FinancesMarkets Review: Is Finances-markets.com A Scam Broker?

Finances-markets.com Review: this is the website of a Forex broker that is located in the United Kingdom. Is it safe to trade with FinancesMarkets? It is important that traders know if their invested funds are safe with a broker. Read the details of what we found out about this broker.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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FinancesMarkets discloses that its headquarters in London, United Kingdom. Forex trading in this region is under the supervision of the Financial Conduct Authority (FCA). When we checked the online register, we found that Finance Market is not listed among legitimate brokers operating in the region.

This is a big disadvantage because trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of FinancesMarkets

Nothing special is said on the website of Finances Markets. It claims to be the world’s largest and most advanced cryptocurrency trading platform. This is not unusual as many legit brokers now also offer CFDs on digital currencies. The page also mentions that traders get as much help as needed to make profits.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

FinancesMarkets Trading Platform

Since we are not told what sort of trading platform is used by Finance Markets, we guess it might be a web-based one. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

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Trading instruments offered to traders seem to include only cryptocurrencies. We find this discouraging because legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Such information as the maximum leverage and spreads are not included in the details revealed on the website. Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on FinancesMarkets

The means of making deposits and withdrawals are not disclosed on the website. This is not encouraging because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit that eXcentral requires is $250 which is within the obtainable average of $100 to $250 usually required by many other brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

Trading bonuses are offered which we have come to view as a red flag. Often, scam brokers offer a trading deposit for new deposits and then place unrealistic withdrawal conditions on such accounts. The result most times is that the funds are tied down and the conditions can be shifted at the whim of the broker.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is FinancesMarkets Licensed?

No. FinancesMarkets is not a properly licensed and registered broker. There is no mention of any sort of regulation on the page as well. The Financial Conduct Authority does not permit it to trade in the United Kingdom.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

In order to contact the broker or a customer service representative, dial +09 74 59 89 15 or email [email protected]

Conclusion

FinancesMarkets is not a properly licensed broker and will not be recommended to our readers. Its trading conditions are not stated as well as corporate details. Only the affordable minimum deposit is seen as the good it has to offer. If you have anything to say about this broker, do so in the comment section.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

FinancesMarkets Review: Is Finances-markets.com A Scam Broker?

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