Commodities, CFDs, currencies, etc., Forex offers whatever a trader’s heart desires. Traders really get to enjoy trading many different assets with the broad choice. Forex brokers try to indulge their large customer-bases with all-around service packages. They compete against each other to outdo the rest and to be the It broker in their community. Cyprus is especially competition-driven given that he majority of EU brokers can be found on the beautiful island, especially in Nicosia and Limassol. The FCM broker is also one of the brokers who is part of the Cypriot Forex melting pot and tries, just like the others, to stand out with its business model and customer treatment. The broker industry is not as easy as it seems. It does not only take money to open a company, but also appropriate leadership and commitment. Only the best brokers will manage to maintain a business for a very long time while others will go as they came. Let us see what the future holds for FCM Forex based on its service. Read the FCM Forex review below and find out how the broker operates in the over-crowded industry.
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Background
The broker will need a few more years in the business to be classified as an old hand, but for now, the broker is still fresh in the industry. FCM Forex has been with us for the past three years, since 2013 and as a Cypriot-based broker; it is, of course, under the supervision of CySEC. The CySEC institution and commission had to prove its strength and willingness in the past, which it successfully did. Nowadays, CySEC is acknowledged as one of the leading regulators in the EU, and as it seems, it is the busiest one since all the brokers rush to Cyprus. FCM Forex can be found in the CySEC Public Register under Fideliscm with the license number 208/13. FCM actually stands for Fidelis Capital Markets Ltd. You can trade currencies, indices, metals, and CFDs with the broker.
Platform
FCM Forex is also a fan of the greatest platform in the business which is the Meta Trader 4. The distinguished features of the MT4 remain the top features incorporated in a platform. Still, the over-use of MT4 gets a little bit tedious, so it is always nice when a broker offers an additional platform to the MT4. Nevertheless, the MT4 is able to cover all traders’ needs and that is the most important thing. The appropriate FCM mobile app is also available for free. It has never been so easy to trade since mobile trading enabled the quickest access to trades in the history of humanity.
Account Types
When it comes to account types, the broker offers a greater variety than with the platform. Namely, you can choose from five different account types. Let us start with the most affordable which can be opened with only a $5 deposit- the Mini account. This account comes with the biggest leverage of 1:400. The Standard and ECN Classic accounts can be opened with a $1,000 minimum deposit with leverage 1:200. The VIP and ECN Gold are available at $25,000, and leverage is 1:100 (minimum lot size 1.00). All of the accounts are ECN/STP accounts, and a small commission applies for using each of them. Spreads already start from 0.0 pips. We see that this broker is suitable for the less wealthy as well, who can participate in the market with as little as $5, but the broker does not forget about elite traders who are serious about the trading business and are brave enough to deposit $25,000. For beginners, demo accounts are available for all types, as well as swap-free versions for Islamic traders.
FCM Forex Bonus
FCM Forex knows how to welcome its new traders and is being very generous with the FCM Welcome deposit bonus of 100%. For example, you invest $100; you get additional $100 from the broker. The bonus goes up to $5000. This means that investing the maximum amount of $5000, will result in $10,000 in your trading account. Still, we advise traders to read the Bonus Terms and Conditions before making any decisions, given that each bonus policy comes with requirements.
Payment Options
FCM Forex offers a mixture of old-fashioned and electronic payment options. Brokers are very lucky today with the different transaction e-wonders which enhanced circulation of money from one end to the other. FCM Forex offers the following:
- Wire transfer
- Visa
- Barclaycard
- MasterCard
- Skrill
- Neteller
- WebMoney
- CashU
These methods are very popular among traders, and they like a broker with a wide selection of payment methods. The broker handles withdrawals within 24 hours and makes sure that the funds are safely transferred to your account.
Customer Support
The broker offers the standard contact forms like request a call-back, phone line, e-mail, and live chat which pops out as soon as you open the FCM Forex website. A 24/5 service is in place with the FCM support team, and you can contact the broker anytime during weekdays if you should need something.