FX Trade Market. True and honest review
It is so easy to choose and to use the wrong brokers. Especially when it comes to forex and CFD brokers. There are so many to choose from, that making a mistake is easy. Trade FX Market is one of the brokers that you can choose. But, are they recommended and legit?
With this full review, you will get a better understanding of FX Trade Market, and you will see if this is brokers that you can consider using.
FX Trade Market is an Estonian forex and CFD broker. Making them an offshore broker that is risky to use. They have a large variety of cryptocurrencies to choose from, but this doesn’t mean that they are recommended.
They might have a valid address, and email address, but there isn’t any telephone information. There isn’t any information about the company they are registered to as well. Making our believe that the company might not be legit.
Are they regulated and registered?
FX Trade Market is claiming to be registered to a company called Ingoten OÜ. However, finding more information about this company is almost impossible. Making our believe that they might not be as legit as what they claim to be.
This means that they aren’t registered internationally and they aren’t regulated at all. Making this one of the brokers that aren’t recommended. It is always risky to make use of brokers that aren’t registered or regulated. And, this is exactly what FX Trade Market is offering you. A service that isn’t registered or regulated.
The account options and minimum required a deposit
They offer three different accounts. Silver, gold and platinum. There isn’t much information about the different accounts, and what the difference between the accounts are. There is also not any information about the minimum required a deposit that you need to pay before you can register for one of these accounts.
This is the problem with these brokers. You need to know what the minimum required a deposit is, and have other account information before you can decide what account option to choose. With the info that they are giving, this isn’t going to be possible.
The platform that they are using
Looking at the platform that they have, we found that the platform isn’t that bad. It isn’t the most popular and recommended platform, but this is giving you everything you need to trade.
We all know that MT4 or MT5 is the two platforms that should be considered. That these platforms are giving you everything you need to trade successfully. The other type of platforms, like the one that FX Trade Market is using, is not giving as many benefits as MT4. And, because they don’t offer a demo account, we couldn’t test the platform to see how reliable it really is.
No Financial regulations
A serious problem that we found with these brokers is that there aren’t any financial regulations available. Putting the money that you have in your account at risk. There are many different brokers that you can make use of, where you can know for sure that your money is secure and safe.
Even if a broker isn’t regulated, it should still be ensuring that your money is safe and secure. This is also a feature that many traders don’t think about, and this can cause some serious problems at the end of the day.
Different Withdrawal requirements
Another thing that you should know before you are choosing FX Trade Market as your broker, is that they have different withdrawal requirements than other, more reliable brokers. There are some requirements that might prevent you from getting your funds withdrawn.
The moment that you use brokers with withdrawal requirements that are different from other brokers, you need to ask the question on why they do things differently. This might because they are scammers and is just looking for getting as much money as possible.
Rules and regulations dodgy
Another really important thing that you should make sure about, is getting all the information about their rules and regulations. This is because, with further investigation, it was found that their rules and regulations are incomplete and dodgy.
This is the most important thing about brokers. Their rules and regulations. And, if this isn’t standard and is incomplete, there are a huge chance for you to lose your money, because of these rules. They can change it as they please, and cause your account to be canceled.
What are regulators thinking about FX Trade Market
Not only are regulators saying that FX Trade Market is a risk to use, but they are also having official warnings out for them Making sure that you know that if you are using them,but you are also doing it at your own risk.
There are also some regulators that have blacklisted them. Meaning that they don’t want any traders to use them. However, they are still being used on a daily basis.
FX Trade Market. Brokers that you can’t trust and that aren’t recommended to be used. There are a couple of good things about the brokers, however, most of the features are dodgy and not recommended at all. The fact that they aren’t registered or regulated is enough proof that they aren’t recommended for trading.