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Fullerton Markets Review - Is it scam or safe?

Fullerton Markets Review - Is it scam or safe?

RATING: 2.5 / 4 REVIEWS Fullerton Markets
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Trading Accounts

 

Account Type
Minimum Deposit
Minimum trade size
 Maximum leverage
Min.Spread 
Standard
$200
0.01 
1:500
Variable: From 0.5 pips EUR/USD
ECN: From 0.0 pips EUR/USD + commission $10 per standard lot


Fullerton Markets offers a single account type with leverage up to 1:500 and tight variable spreads on the most widely used forex trading platform, MetaTrader 4.


Micro lots are available for trade and also, Swap-Free Sharia-compliant service is offered to clients of Islamic faith upon request.


The Company. Security of Funds


Fullerton Markets is a straight-through processing (STP) broker that was recently launched by its CEO Mario Singh – a forex analyst and coach who is popular particularly in the Far East. The broker offers trading in currency pairs and CFDs on indices, crude oil and indices.


Fullerton Markets Limited, trading under the Fullerton Markets brand, was regulated by the Financial Markets Authority (FMA). In 2018, however, the broker transferred all business from its NZ entity Fullerton Markets Limited (FML) to a newly established offshore company called Fullerton Markets International Limited (FMIL). The latter is registered in Saint Vincent & the Grenadines, a popular offshore destination.

 


Trading Conditions


Minimum Initial Deposit
The minimum initial deposit required by Fullerton Markets is $200, which is an average amount to start trading with, however other brokerages licensed in NZ, like CMC Markets, do not require any minimum deposit.


Commission & Spreads
Fullerton Markets offers two types of floating spreads on its single account type: variable spreads, starting from 0.5 pips on EUR/USD, which is a competitive value, and ECN spreads, starting from 0 pips on EUR/USD, which incur a commission of $10 per standard lot. So trading costs for this pair would be around 1 pips as a minimum (ECN spread + commission), which is average for the forex market.


In comparison, In comparison, NZ broker, Key To Markets offers spreads starting from 1.0 pips on EUR/USD on its commission-free account, and Pro account holders may trade with spreads as low as 0.0 pips on EUR/USD with a commission of $8. You may check out and compare real-time spreads of 15 leading brokers here


Leverage
The maximum leverage level offered by Fullerton Markets is 1:500, which is comparatively high, since most brokers usually offer leverage up to 1:200 or 1:400. CMC Markets also provides leverage up to 1:500, although in some jurisdictions there are set limitations on leverage, which are considerably lower – for example, in USA the maximum leverage allowed is 1:50.


You may look up a list of more FX brokers offering leverage up to 1:500 or higher here.


Trading Platform


Fullerton Markets offers its clients the industry’s standard platform, MetaTrader 4 (MT4), available as desktop and mobile versions.


MT4 4, developed by Russian software company MetaQuotes, is preferred by most traders, because it is equipped with an advanced charting tools, more than 50 built-in indicators, a wide range of Expert Advisors (EAs) and extensive back-testing environment for them. Traders can download ready-made or create their own trading robots (EAs), scripts and custom indicators in the MQL programming language. What is more, MT4 offers user-friendly customizable interface and even newbies traders can easily find their way around it.

 

What is more, Fullerton Markets has collaborated with financial technology provider Tradency and the broker’s clients can now use advanced copy trading options via accessing Mirror Trader Platform and Tradency’s latest offering, RoboX.


Promotions
At the time of writing this review Fullerton Markets offers 50% Credit Bonus (up to USD500) for deposits of a minimum of $500 and also runs a trading competition with $6,000 cash pool prize.

 

Methods of Payment


Fullerton Markets’ clients are offered the following modes of payment: Wire Transfer, Credit Card or Digital Wallets such as Skrill, Neteller and FasaPay.


There are 4 deposit currencies for clients to choose from: USD, EUR, NZD and SGD.


Conclusion


Fullerton Markets is a reputable STP broker that provides trading in forex and CFDs on a single account type through the popular MT4 platform under competitive terms and conditions. Here are, in a nutshell, the advantages and drawbacks in relation to this broker:

 

Pros  Cons
NDD environment  Registered offshore
MT4 available + advanced copy trading options No web platform
High leverage levels  
Competitive spreads    

 

Latest news about Fullerton Markets
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Traders` reviews for Fullerton Markets

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Fair Explanation for requote of swap

Fullerton Markets requoted my swaps for the CFD and caused some losses to my trading account on september 25th 2018, I was angry and wrote back to the support team.

They explain that the requote was due to a calculation error and there was a proof on the Bloomberg market swap screenshot. The explanation is fair and easy to understand.

I believe there was a human error cannot be 100% right all the time. But Fullerton was sincere and honest, explained the case with proof. Furthermore, they compensated me with some credit.

For that I rest my case, I hope they can prevent such issues from happening again. Will recommend this broker to my friends.

Armporn Narthanon 10/16/2018

Bad Service

requote my order.

golf 09/29/2018

Scam broker

Fullerton Markets is the worst broker i ever traded. Cheating up to 50 Thai traders on Sep 25, 2018 i am also one of these. Please do not trade with shit broker otherwise it will happen again and again.

Kampol 09/29/2018

Fair trading environment and no withdrawal issues.

I am currently trading with Fullerton Markets and so far I have not experienced any delay with my Withdrawals. I also appreciate the fact that their funds are segregated in Kiwi Global Trust to ensure that my funds are secured.

Chiam See 12/22/2017
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