FXMCapital. Everything you should know about them
Brokers. Experienced traders will know that the right broker will give you the best chance of being a successful trader. This is why it is important to make sure that you are getting as much info about a broker as possible before you sign up with them.
This is why you should make sure that you know everything there is to know about FXMCapital. With this review, you will see that they might not be as reliable and trustworthy as what you have thought.
More about the brokers
The first thing that you should know is that FXMCapital is offshore brokers. They are situated in St. Vincent and the Grenadines. They are connected to a company called MTP holdings. They are known as forex and CFD brokers.
They do have a legit address, telephone, and email. However, this doesn’t mean that now you can start using them, because they are legit. There are many other things that you should know about before you can say that they are safe to use.
Are they registered and regulated?
At first glance, it seems like they are registered. However, they aren’t. The company that they are connected to isn’t legit and isn’t known internationally. Meaning that they aren’t internationally registered.
And, because they aren’t registered internationally, they aren’t regulated as well. Making them really dangerous to use. Regulated brokers are legit and they are being monitored so that they can’t do anything illegally. And, with FXMCapital, this can’t be said of them.
The platform that they are using
You will see that they are using MT5 as their platform. Experienced traders will know that MT5 is one of the best platforms to use. And, this is just here where traders decide that the brokers are legit.
However, something that you should realize is that they have purchased MT5 from a third party. Meaning that the MT5 platform might not be legit and the real deal. You can use a platform that might not be as great as what you have thought.
They offer great cryptocurrencies
This is the one great thing about FXMCapital. They are offing a great number of cryptocurrencies that you can trade with. This is a great benefit if you are looking for different cryptocurrencies to trade with.
Still, just because of the one great benefit, it doesn’t mean that they are recommended and safe to use. You should make sure that they are overall recommended and legit. And, because they aren’t regulated, this isn’t something that we can say.
The account and required deposit info
They offer three different accounts that you can choose from. They offer the basic, advanced and the Premium. There isn’t much more information about the different accounts, except for the required deposit that you need to pay for each account.
For the basic account, you’ll need to pay $250. For the advanced, you will need $5,000 and for the premium you’ll need $25, 000 to start trading. This is a huge amount of money, and it is a lot more than most other, reliable brokers. Meaning that you have a bigger chance of losing more money than with other brokers.
FXMCapital isn’t transparent
FXMCapital isn’t transparent. Meaning that you can’t really see all the spreads and the other aspects of trading. Meaning that you can’t see if this is great brokers to trade with or not.
Many traders don’t really worry about a broker not being transparent. However, this is really important because this is the only way to see what you are dealing with. And, if this is worth it to pay this high amount of deposit to a broker. The more information you are going to get from brokers the better. And, this is for sure not something that you are going to get from FXMCapital.
What regulators are saying about them
When you are looking at reviews from regulators, you will see that FXMCapital isn’t really recommended. In fact, there are some regulators that have blacklisted them from being used.
Meaning that they don’t only not recommended these brokers, they realize that it is a huge risk for traders to use them. And, this is why they are blacklisting the brokers. So that traders that are doing research before using a broker can see that they aren’t legit and that regulators are warning traders about using them.
FXMCapital. Brokers that you can use for trading. The thing that you should know is that they aren’t legit and they aren’t recommended at all. There are many reasons why you should leave these brokers alone, and look for brokers that will be more beneficial to trade with. They aren’t transparent, the company is connected with other scam brokers and they are blacklisted by some regulators. This means that you should leave them alone and start looking for brokers that are regulated and registered to a legit company. This is the only way that you can know that you have the best chance of being successful with trading.