FMTrader Review

FMTrader

* Ranked #13 of 98 in DailyForex's top broker list

Info

Name : FMTrader
Website : fmtrader.com
Established : 2013
Country : Belize
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • Choice of Trading Accounts
  • Islamic Accounts
  • Regulated

Disadvantages

FMTrader Review

FMTrader Review

FMTrader (also referred to as FM Financial) was established in 2013 and is a privately held investment firm that offers binary option trading. FMTrader is a brand owned and operated by Terapad services LTD in Nicosia, Cyprus which is a subsidiary of FM Marketing LTD incorporated in Belize.

Accounts

FMTrader offers a choice of several accounts tailored to each type of trader.

A deposit is not required and no credit/debit card details are requested in order to register with this broker.  However, a minimum of $250 is needed in an account in order to place the first trade.  The Platinum account offers free withdrawals and starts off with a generous 40% bonus on the first trade. The Gold account offers the same features but with a 30% bonus as does the Silver account. A 20% bonus accompanies the Bronze account.

Accounts can be opened in USD or EUR. However, the currency selection cannot be changed after registration.

All account holders receive a certain amount of 1-on-1 personal training as well as access to the FMTrader ebook, and to FMTrader's online VOD.

FMTrader offers an Islamic account for those who follow Sharia laws. These traders are not charged with any financial penalties no matter what type of positions they have opened.

When doing this review it was nice to see that a video is offered on the landing page that explains in detail how to set up a trading account.

I was disappointed to see that a demo account is not offered.

Features

The pricing and execution modules at FMTrader utilize the most up to date and advanced technologies and trading is available at any time as long as the chosen asset is being traded in the relevant market. Data streams arrive from the FMTrader data provider, Thomson Reuters, a highly respected global news feed.

A special feature at FMTrader is that 10% of the invested amount is paid back even if your option expired out of the money.

Another nice feature is the scrolling the continuously rolling news offered by Yahoo.

When it comes to trading strategies, MTrader offers a variety from which traders can choose the one that fits them best based on their trading experience, profit target and desired returns and personal inclination. These include simple binary options, pairs, short term options, one touch, ladders and FX/CD.

Their iFollow tool is a social option whereby traders can view live listings of other traders and choose which one they wish to follow. This enables them to join an experienced trader and emulate his transactions and, thereby, make the same profit he made.

FMTrader iFollow Tool
FMTrader iFollow Tool

Deposits/Withdrawals

$250 is needed in an account before a trade can be placed. The maximum deposit depends on the method of funding: The maximum for credit cards is $5,000, a wire transfer is unlimited and $10,000 is the most that can be deposited if using Western Union.

The minimum withdrawal amount is 100 EUR or 100 USD depending on the trading account currency.

Education

The Trading Academy provides educational material in the form of in-depth video tutorials on major binary options topics, daily and weekly market reviews and ebooks.

FMTrader Courses
FMTrader Courses

FMTrader is interested in developing traders’ abilities to reach their maximum potential. To help this along, FMTrader analysts provide one-on-one lessons to all their clients, describing in careful detail how each type of chart and graph works, providing extensive insight in the market and sharing market news and events.

FMTrader Market Analysis
FMTrader Market Analysis

FMTrader has acquired the services of Faunus Analytics, a world-class business intelligence (BI) company, to include in its trading platform a sophisticated yet easy to follow trading signal system.

Trading signals are technical up-to-the-minute indicators that notify a trader about good investment opportunities. They may provide useful tips regarding the buying or selling of option

An updated economic calendar is also provided.

Bonuses/Promotions

FMTrader offers a number of attractive reward features including welcome bonuses, contests and awards to new and current customers.

Bonuses and one time trading credits awarded to clients are part of FMTrader’ promotions program. These bonuses are limited time offers and the terms and conditions associated with any bonus rewards are subject to change.

At the time of this review, the only promotion that was detailed was their Refer-a-Friend promo where registered traders who have exposed new members to the FMTrader enjoyed a bonus based on the new member’s initial amount of deposit. In order to be eligible for the bonuses, the new member’s trade cycle must be equal or bigger than his / her personal investment portfolio.

Customer Support

Customer support is provided at FMTrader via local telephone numbers in over 15 locations including local calls to their offices in Belize, London and Nicosia.  Live Chat and Skype are available as well as email communications.

The website is offered in English, French, Chinese, Italian, Arabic, Turkish and Russian.

Conclusion

FMTrader is a good broker offering everything a Binary Option trader could want including multiple account options, generous bonuses and good payouts. Being relatively new to the industry, I would expect there to be more additions and positive changes in the future.

Advantages

  • Choice of Trading Accounts
  • Islamic Accounts
  • Regulated

Disadvantages

Review info :
Broker reviewed : FMTrader Rating : 8 out of 10
Reviewed By : Review Date :