Warning! This Broker is Not ASIC Licensed
First Demo Trade with a Licensed Broker
FM-FX was an unlicensed Forex broker that started operations in November 2016. They are owned by FM Marketing LTD which is located at: Barrack Road 35, Belize City, Belize. The listed phone number in United Kingdom is: +44 208 068 0485, and the contact email address is [email protected].
FM-FX Broker Review
A review of the Forex broker FM-FX reveals that they offer their investors the MetaTrader4 trading platform, which is available as a desktop software, and a web based version. Mobile apps for Android and iPhone are also available. They offer more than 170 assets to trading including all popular Forex pairs, Market Indexes, CFDs for European and American Listed Stocks, along with popular Commodities like Gold, Silver, Crude Oil and Corn.
Their website and customer support is available in English, Russian and French. Leverage offered on Forex trading is 200:1, and spreads on AUD/USD are 3.8.
FM-FX gives bonuses to new traders, and you should read an understand the terms and conditions of bonus money before accepting a bonus. It is the number one cause of broker complaints.
FM-FX No License
When you are reviewing a Forex broker, the first thing smart investors look for is a valid brokers license. The reason traders use regulated brokers is in the event of a broker going out of business, their money is protected by the government regulator. Smart investors always test out multiple brokers, before choosing their broker.
FM-FX is not a licensed broker.
There are many licensed Forex brokers who you can trade with, see below. In Canada, Forex brokers must be licensed by the IIROC, and in Australia the brokers are licensed by ASIC.
Australia ASIC Warning! “ASIC urges all investors considering trading in margin FX and other financial products to check they are dealing with an entity that is licensed in Australia.”
What was your experience trading with FM-FX? Please write your review in the comment section below.