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FM Capitals Review - is it scam or safe?

FM Capitals Review - is fmcapitals.com scam or good binary options broker?

RATING: 1 / 0 REVIEWS
FM Capitals is not regulated. We cannot guarantee your money is safe.

Trading Conditions & Accounts

 

Minimum deposit  Min./Max. bet size Payout % Regulation
$500 Not specified Up to 79% on EUR/USD (short-term) No

 

FM Capitals is a binary options broker based in Bulgaria. The broker offers trading in short-term options (with expiry times from 30 seconds to 5 minutes) and long-term ones (from 5 days to three months). At first a payout of 90 % is displayed on the platform for EUR/USD, but once you start clicking around it appears that the maximum return for short-term options is 79%.

 

Clients of FM Capitals can open a Basic account by investing $500, and those who invest more, are qualified for Silver, Gold, or Platinum accounts:

 

 

Overall, the broker’s trading conditions are nothing special in the sector, but we have several serious concerns regarding FM Capitals.

 

FM Capitals Advantages 

 

Bonuses offered

The only possible benefit of FM Capitals we could think of is its bonus offer. Like most binary options brokers, this one offers on- deposit bonus from 50% to 125% to new clients, depending on their initial investment. While such an offer might attract some investors, keep in mind that usually you need to meet certain trading volume requirements in order to withdraw.

 

 

FM Capitals Disadvantages 

 

Not regulated, ASIC warning against it

 

FM Capitals is allegedly owned and operated by Riverside Services Ltd., a company operating out of Sofia, Bulgaria. As some of you probably know, binary options trading in the EU and EEA is banned from July, 2018. This basically means that FM Capitals’s offering is illegal.

 

What is worse, we found out that the Australian Securities and Exchange Commission has issued a warning against FM Capitals. The latter obviously used to claim to be operated by Genum Ltd. Changing brand and company names is a popular tactic against scammers.

 

 

Considering the above, you’d better not deal with FM Capitals – it could be one of the many brokers involved in fraudulent activities.

 

High initial deposit

While most binary options brokers require $250 as a start, FM Capitals demands $500.

 

Platform too simple

FM Capitals’ web-based platform is also nothing special – it has some very basic charting without any technical analysis tools. Here is a preview:

 

 

Click to zoom.

 

Less than 20 currency pairs

While most forex and binary options brokers offer many currency pairs and various CFD categories, clients of FM Capitals may only trade in about 17 forex pairs.

 

Modern drug advertisements on website

We thought we have seen it all on forex and binary options markets, so it was quite a shock to discover that the website of FM Capitals also advertises some “modern drugs”.

The asset index page for example offers investors to acquire Neurontin (anti-epileptic drug) and Dapoxentin (against premature ejaculation, as it appears) instead of binary options.

 

 

 

Conclusion 

 

FM Capitals is a binary options broker whose offer is not diversified, nor very attractive in terms of payouts. Overall, the company seems pretty shady: it operates out of Bulgaria, where binary options trading is not allowed, and ASIC has issued a warning against FM Capitals. That being said, we suggest that you avoid this broker and select a company that offers forex trading instead and is properly regulated.

 

To those who would prefer dealing with a European broker, here is a list of well-regulated brokers in Cyprus:

 

 

>> CySEC-licensed brokers <<

 

 

 

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