FM Trader
Broker ReviewEstablished in 2013, the UK-based Financial Markets Trader (FM Trader) has a simple, bare bones, light and dark blue color scheme. This broker offers the most common types of trades and assets, but seems to have a few bugs in the system. FM Trader is not regulated by any government agency.
Overall Score: 90
90-
Bonus, Deposit and Payment 90
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Commissions and Support 89
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User Friendly 95
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No. of Assets and Expiry Time 90
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Mobile Application 89
Solid Mobile Platform
FM Trader offers a fairly familiar user interface with the primary tabs at the top of the screen - Trade Now, Open Account, Banking, Trading Academy and Contact Us. The minimum deposit is US $250.00, but United States customers are not accepted.
FM Trader offers the following asset classes: commodities, currencies (Forex), stocks and indices. Many customers complain that there are only about 60 to choose from. This is not as voluminous as other brokers.
This is a market maker broker. FM Trader has both Web-based and mobile trading platforms. In fact, you can even click on the Apple App Store or Google Play to get applications for your mobile devices directly from the FM Trader website.
The money deposit and withdrawal systems supported are credit cards, wire transfer or payment systems, such as MoneyBookers or CashU. You must withdraw your money the same way you deposit your money. FM Trader has free withdrawal on all its accounts, which is a nice feature allowing you to keep more of your profits. There is a bonus for the first deposit.
Other Trading Features
| Tradable Assets | Min. Position | Max. Position | Mobile Trading | Regulated |
|---|---|---|---|---|
| 200 | € 10 | € 10,000 | 1 | x |
Customer Support Availability
FM Trader has customer support available 24 hours a day. Customer support is phone, email, live chat or Skype. There is actually a toggle of global phone numbers on the left-hand side. No matter where you are, there is a phone number you can call for service.
There are solid customer reviews for this broker. Most folks see the website as functioning adequately, but as still a work-in-progress. It could be better and needs some fine-tuning to remove a few bugs.
Languages
- Arabic
- English
- Italian
- Russian
- Turkish
Deposit Methods
- Delta
- Diners
- Maestro
- MasterCard
- Skrill
- Solo
- Visa
- Visa Electron
Contact Broker
- Email: support@fmtrader.com
- Phone: +44 800-170-0149
Account Scalability
There are six accounts available: Free, Islamic, Bronze, Silver, Gold and Platinum. With better accounts, you get higher bonuses, one-on-one training and portfolio analysis. The top accounts match you with your own personal broker. This is attractive if you want better features after you gain more experience.
There is an "Information" section located in the lower left-hand corner. Beginners can review the FAQ list or download an e-book to learn more about binary options trading.
Trading Features
| Speed Trading | Spread High/Low | One Touch | Option Builder | Mobile Trading | Regulated |
|---|---|---|---|---|---|
| 1 | x | 1 | 1 | 1 | x |
The trading screen uses the traditional "Call" (green) and "Put" (red) terminology. There is a scroll of real-time asset values along the bottom. Breaking news is delivered by Yahoo. There is an "Analyst Review" on the bottom with daily and weekly market reports. "History" helps you see the trends. The "Trader's Choice" allows you to view the sentiments of other customers on your trade.
There are four primary types of trades enabled: Binary Options, Options Builder, One Touch and 60 Second. Languages supported include Arabic, English, Italian, Russian and Turkish. Just "Apply" to set up a trading contract. Trades out-of-the-money can deliver up to a 10% rebate on FM Trader.
Pros & Cons
- Free withdrawal
- High customer service availability
- Various accounts with a personal broker
- Up to 90% payout on binary options trading
- Not regulated
Good Broker to Start With
FM Trader has the majority of its website up and running, but there remain some glitches. A brief check found bare HTML code was showing. It also has a "Pairs" trading format listed, but nothing was there. It could be that the feature is time-sensitive.
The number of accounts is intriguing. Having a personal broker, like a British butler, could be a nice touch for a professional wanting to become an expert trader. The offerings are solid and customer support availability is first-class.
FM Trader might be a better broker for the beginner who does not want too many bells and whistles. It seems like the learning curve is rather flat. Customer service is readily available to help with any concerns.