Forex Market gives the impression of a broker with a relatively small client base, which is easy to explain by the small age of the company. This dealing organization, operating in Russia and Kazakhstan, appeared on the market, already awash with numerous Forex brands. In addition, the package of services it offered seems rather concise, although it embodies a perfectly acceptable combination of price and quality.
The reputation of the broker is also ambiguous: in particular, independent rating sites (for example, on ratingfx.ru) have negative reviews dedicated to Forex Market. Among other things, the company is accused of disloyalty to customers, especially in the case of arbitration situations. Of course, such comments are available in the account of all brokers without exception, so they are not always advisable to take into account. And yet, traders who decide to open an account in Forex Market, it is recommended to try to personally contact a couple of commentators before enrolling money on their account.
- Registration and regulation in Forex Market
It is important to note that the official web resource of this broker (forex-m.com) lacks a traditional for dealing centers section with history. Since the age of the company remains a significant factor in the client’s choice of an intermediary, the indication of the year of the basis is regarded as a good tone. For example, such information is available on the Mill Trade website, which was created last year.
The Forex Market license issued in the British Virgin Islands is dated October 30, 2009. Registration in the offshore zone is a typical phenomenon for the domestic market, especially if the DC has certificates of domestic regulators. In this case, we are talking about documents confirming compliance with the standards of the CRFR.
Five years of development have brought Forex Market three awards:
- The 2012 Best Broker Award, awarded by the rating portal best-broker.name,
- award in the “Best Forex Partner Program 2013” award, which the DC received at the RACE Awards,
- “Industry Leader 2013” as part of the national “Leader of Kazakhstan” program.
Forex Market account
The direct package of services for traders applies to demonstration and real accounts, as well as support services. These include free tuition in the form of two five-day face-to-face courses (basic and supplementary). Beginner traders will also be interested in a selection of profile literature. In addition, the dealing center provides analytics and information support: online quotes, schedule of trading sessions, interest rates, etc.
Forex Market trading conditions:
- A cent, standard and professional account;
- Starting deposit from $1 for a standard account and $200 for a professional account;
- Shoulder up to 1000:1;
- Lot volume up to 100;
- Up to 59 currency pairs, metals, CFDs,
- Support for Instant Execution and Market Execution;
- Support for automated trading (you can download Forex Mastery 2 Market Scanner and other programs of the same type) on the site;
- Support for Meta Trader and mobile apps for traders;
- Investor accounts of ProCopy and Labcapital.copy to copy trades of professional traders.
The company, in general, looks like an average broker, the main advantages of which should be called a branched package of services and a low entry threshold. Participation in the RACE Awards complements the list of positive qualities of the DC. At the same time, dedicated Forex Market reviews encourage treats to this organization with caution.
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