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FCMarket was founded in 2007 and is located at Saint Vincent and the Grenadines. FCMarket is the introducer of Hot Forex, owned by HF Markets Ltd which is licensed by the Financial Services Commission (FSC) of Saint Vincent and the Grenadines. FCMarket provides online trading platform for individuals that want to speculate on Forex and CFDs.
As HotForex, the broker is the recipient of the several awards by the renowned World Finance magazine. It was awarded the title of Best Online Broker in Asia and Eastern Europe for 2013 as well as the Best Online Broker in Asia 2012, both of these awards reflecting the strength of their position in the region.
The minimum amount needed to open a live account at FCMarket is only US$500. Accounts can be set up as micro (1K), mini (10K) or standard lot (100K) depending on the funds in the account. Registration is made under the HotForex name.
There is leverage option up to 1:1000 and no fees or commissions are taken.
FCMarket offers investors a Forex Managed Account Program (Fund Management) with an estimated 5-30% profit per month and is the right choice for those who want a passive income investment or for those who do not have time to trade. Once a Forex account has been opened and a deposit made, FCMarket will trade and manage all funds using a combination of manual trading and automated trading / robot (EA).
The spreads are variable with the minimum spread at 1 pip.
A demo account is available for anyone wishing to practice his/her trades before putting real money at risk.
Swap free Islamic accounts are also provided for those keeping Sharia laws.
The FCMarket website is suited to beginners as it enables them to start learning online Forex trading, walking them through the steps quite thoroughly. It is user-friendly and is easy to maneuver.
A sound knowledge of Forex can be acquired from the Forex section and it explains the fundamentals, risk and risk management very well. The in-depth knowledge provided is an indication that the company is truly interested in educating its customers and taking good care of them, underlining FC Market’s strong service motive.
Forex Basics Course
Unlike most Forex brokers, FCMarket offers two different economic calendars, one provided by Bloomberg and the other by Forex Factory. They use ProChanger as there currency calculator.
There are also a host of tutorials on basic and advanced topics and both technical and fundamental analyses are covered in great detail. There are no news updates or reports provided.
Funding to an account can be done in various ways, including bank transfers, credit cards, Neteller, Skrill, WebMoney and other online payment programs. The minimum deposit amount is only US$ 500. To trade standard lots (volume 1), recommended minimum deposit is $3000 to avoid Margin Call easily.
Withdrawals are made using the same methods as the deposits.
There are no deposit or withdrawal fees.
Traders can contact an FCMarket representative via email or telephone. Any questions are answered in a timely manner by well-trained and knowledgeable staff. I was surprised that there was no live chat available.
FCMarket is a reliable and trustworthy Forex and CFD broker. The website is easy to navigate and the choice of different platforms is very attractive. I was disappointed, however, that there were no bonuses or platforms offered.
Review info: FCMarket
Review Date: 2016-08-11
Rating : 3
Reviewed By : Sara Patterson (Google+)