What is FinancialMarketsOnline.com?
FinancialMarketsOnline.com is an online forex broker that offers trading in a wide range of currencies, including the majors like EUR/USD and GBP/USD, as well as more exotic pairs like USD/TRY and EUR/RON. The company claims to be headquartered in London, United Kingdom, but its website provides no further information about its ownership or management.
The broker offers two types of accounts – a standard account with a minimum deposit of $500 and a VIP account with a minimum deposit of $10,000. Both account types offer leverage of up to 1:200 and allow for micro lot trading (0.01 lot size). FinancialMarketsOnline.com does not charge any commissions on trades; instead, it makes money from the difference between the bid and ask prices (the so-called “spread”).
The broker’s website is available in English, Spanish, French, Italian, Polish and Russian languages. Customer support can be reached via live chat, email or phone.
From what we could gather from FinancialMarketsOnline.com reviews posted online, the overall opinion about this broker seems to be positive. Traders appreciate the wide range of currency pairs offered by the broker, as well as the absence of commissions and tight spreads. On the downside, some reviewers complain about the lack of information available on the company’s website and say that customer support could be more responsive.
How does FinancialMarketsOnline.com work?
FinancialMarketsOnline.com is a forex broker that offers online trading in currency pairs, commodities, and indices. The company is headquartered in the United Kingdom and is regulated by the Financial Conduct Authority (FCA).
The broker offers two account types: Standard and Professional. The Standard account requires a minimum deposit of $250 and has a maximum leverage of 1:200. The Professional account requires a minimum deposit of $10,000 and has a maximum leverage of 1:500.
FinancialMarketsOnline.com uses MetaTrader 4 (MT4) as its trading platform. The MT4 platform is available for desktop, web, and mobile devices. FinancialMarketsOnline.com also offers the use of Expert Advisors (EAs) for automated trading.
To fund an account, traders can use credit/debit cards, bank wire transfer, or e-wallets such as PayPal, Neteller, or Skrill. The minimum deposit for credit/debit card and e-wallet deposits is $250, while the minimum deposit for bank wire transfer is $1,000. The maximum deposit limit is $100,000 per transaction.
Withdrawals can be processed via credit/debit card, bank wire transfer, or e-wallet. The processing time for credit/debit card withdrawals is 3-5 business days, while bank wire transfers take 5-7 business days. Withdrawals to e-wallets are
What are the pros and cons of using FinancialMarketsOnline.com?
When researching a potential forex broker, it is important to consider both the pros and cons of using their services. In this FinancialMarketsOnline.com review, we will take a look at some of the key points that you should keep in mind when evaluating this broker.
The first thing to note about FinancialMarketsOnline.com is that they are not a regulated broker. This means that they are not subject to the same strict financial rules and regulations as brokers who are regulated by organizations such as the US Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA). While regulation does not guarantee that a broker will not engage in fraudulent activities, it does provide an extra level of protection for investors.
Another thing to keep in mind is that FinancialMarketsOnline.com offers a very high leverage ratio of 1:500. This high degree of leverage can be both a pro and a con depending on your trading strategy and how comfortable you are with taking on additional risk. On the plus side, high leverage can allow you to make bigger profits if your trades are successful. However, it also means that your losses will be amplified if your trades go against you.
One final point to consider is that FinancialMarketsOnline.com charges commission on all trades, both winning and losing ones. This commission structure is generally considered to be more favorable to the broker than it is to the trader since it reduces the amount of risk that
Is FinancialMarketsOnline.com a legit or scam forex broker?
When it comes to online forex brokers, there are always going to be some that are legit and some that are scams. It can be hard to determine which is which, but there are definitely some things that you can look for to help you make your decision.
One of the first things that you should do is check out the website itself. If it looks like it was put together quickly and doesn’t have a lot of information, that’s usually a bad sign. You should also take a look at the company’s regulation and licensing information. If they’re not regulated by any major financial institution, that’s another red flag.
Of course, the best way to really know if a broker is legitimate or not is to trade with them yourself. Open up a demo account and see how they operate. If they give you good customer service and provide you with all the tools you need to succeed, then they’re probably legit. However, if they don’t seem very helpful or if they start pressuring you to deposit real money before you’re ready, then it’s probably best to steer clear.
Conclusion
Overall, we found FinancialMarketsOnline.com to be a reliable and trustworthy forex broker. They offer a wide range of currency pairs and CFDs to trade, as well as competitive spreads and leverage. We also like the fact that they are regulated by the FCA in the UK, which gives us peace of mind that our funds are safe. If you’re looking for a reliable forex broker to start trading with, we recommend checking out FinancialMarketsOnline.com.