Is fairmarkets legit? Fair markets forex trading reviews

As a forex trader, it is important to be cautious when choosing a trading platform to invest your money with. In this review, we will take a closer look at FairMarkets, a forex broker that promises a range of investment services to its clients. We will examine their claims, check their licensing status, and provide you with information to help you make an informed decision on whether to use their services or not.

About FairMarkets

FairMarkets, also known as Fair.markets, is an offshore brokerage that promises to offer forex trading and crypto investment services to their clients. The brokerage claims to offer a range of trading instruments including forex, stocks, commodities, crypto, bonds, and indices.

Is FairMarkets a Scam Forex Broker?

The first thing to consider when choosing a forex broker is their licensing status. FairMarkets claims to be licensed in two jurisdictions – Mauritius and Australia. To verify this claim, we checked the database of the financial regulator in Mauritius and found that the broker is indeed licensed there. A licensed broker provides some guarantees for clients, including regulatory requirements and controls. It is always advisable to check for regulated and licensed brokers on financial authorities’ websites before depositing funds for trading.

It is important to trade with a licensed and legitimate broker to protect your funds. Fortrade is a UK-based broker that is regulated and licensed by the FCA (Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus, as well as IIROC in Canada. This makes client funds safe. Fortrade offers trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. They accept traders worldwide, so you can visit their official website to learn more.

Account Types

FairMarkets offers trading accounts such as the Aussie Premium, Standard, and PRO accounts. According to their website, the broker provides a leverage capped at 1:400 and a spread of 1.8 pips. The minimum deposit is specified to be $1, which is an attractive and affordable start. Some licensed FX brokers can offer clients trading rates as low as $50 with the assurance of their trading funds.

Payment Methods

FairMarkets allows payment deposits by bank transfer. However, it is important to note that offshore brokers are commonly known for accepting cryptocurrencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. It is important to be cautious when dealing with such payment methods and to ensure that your funds are safe.

Trading Software

FairMarkets offers the industry-standard MetaTrader 4/5, with all distributions available – Mobile, Desktop, and Web. MetaTrader is a popular trading platform among traders, and using a forex broker with advanced trader features like MT4/MT5 provides the best features of real-time quotes, financial news, and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Is FairMarkets Legit?

FairMarkets claims to be licensed in two jurisdictions – Mauritius and Australia. Upon checking the financial regulator’s database in Mauritius, we found out that the broker is indeed licensed. This regulatory oversight means that FairMarkets is held accountable for its operations and is required to adhere to specific guidelines and regulations to protect its clients.

However, it is essential to note that being licensed offshore can come with its own risks, as the regulatory requirements may not be as stringent as those of reputable financial regulators like the FCA and ASIC. It is crucial to weigh the pros and cons before deciding to trade with an offshore broker.

FairMarkets Reviews:

FairMarkets has received mixed reviews from traders. Some traders have praised the broker for its user-friendly trading platform, customer service, and competitive spreads. However, other traders have criticized the broker for various issues, such as slow withdrawal times and poor customer service.

Pros of FairMarkets:

1. Competitive Spreads: FairMarkets offers competitive spreads on various trading instruments, making it an attractive option for traders looking to keep their trading costs low.
2. User-Friendly Trading Platform: FairMarkets provides traders with the popular MetaTrader 4/5 trading platform, which is known for its user-friendly interface and advanced trading features.
3. Variety of Trading Instruments: FairMarkets offers a broad range of trading instruments, including forex, stocks, commodities, crypto, bonds, and indices, providing traders with a diverse range of options to trade.

Cons of FairMarkets:

1. Offshore Regulation: FairMarkets is regulated offshore, which may not be as stringent as reputable financial regulators like the FCA and ASIC, raising concerns about the safety of client funds.
2. Limited Payment Methods: FairMarkets only allows payment deposit by bank transfer, which can be inconvenient for traders who prefer other payment methods such as e-wallets or credit/debit cards.
3. Mixed Reviews: FairMarkets has received mixed reviews from traders, with some praising the broker for its services while others criticizing it for various issues such as slow withdrawal times and poor customer service.

In conclusion, FairMarkets is a licensed offshore broker that offers a range of trading instruments and competitive spreads on its user-friendly trading platform. However, the broker’s offshore regulation and limited payment methods may raise concerns for some traders. It is advisable to conduct thorough research and weigh the pros and cons before deciding to trade with FairMarkets or any other broker.

Conclusion

In conclusion, FairMarkets is a licensed forex broker that promises a range of investment services to their clients. While their minimum deposit is attractive, it is important to consider the safety of your funds when choosing a broker. It is advisable to use regulated and licensed brokers like Fortrade, who are well-established and have a good reputation in the industry. It is important to do your own research before making any investment decisions and to seek advice from professionals if necessary.