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FTMBROKERS

FTMBROKERS
About company:

FTM Brokers is a Belarusian Forex broker that has been operating since 2004 as a Forexline. In 2016, the broker received a Forex license from the country's central bank, which also acts as the Forex regulator.

 

Company. Fund security

The regulatory requirements for Forex brokers in Belarus came into force in 2016: companies must be entered in the register of the National Bank and meet certain requirements, including the amount of capital available and membership in the compensation scheme of the National Forex Center.

 

The Forex industry in Belarus is dominated by local companies and brokers, mainly focused on the Russian market, such as Alpari, TeleTrade, Forex Club and Gerchik & Co. This seems logical since the regulatory requirements in the two countries are more or less similar, as well as the common Russian language. The big global Forex brokers seem to show no interest in Belarus.

 

Considering that FTM Brokers is likely targeting the Belarusian market, it has relatively little competition and may not afford to offer the most lucrative terms.

 

Terms of trade

FTM Brokers offers Forex CFD trading on three types of trading accounts: Basic, Standard and Pro. There is also a free demo account.

 

The broker also offers trading in other instruments: commodities, indices, stocks and ETFs. According to the information on the website, the total number of assets is 1500.

 

Minimum initial deposit

The smallest amount that a broker allows to start work is $ 20, which is quite acceptable.

 

Of course, there are brokers with even lower requirements, for example InstaForex (from $ 1).

 

Spreads and commissions

FTM Brokers has fixed, market and floating spreads depending on the type of trading account. Fixed spreads are offered averages for the industry (from 2 pips). The practice of providing floating spreads along with additional commissions to cover costs is fairly common.

 

Leverage

FTM Brokers has the highest leverage utilization ratio - 1: 100, which is below average, and for RUB pairs - even lower: 1:50.

 

Trading platforms

FTM Brokers offers the popular MetaTrader 4 platform in both desktop and mobile versions.

 

Another platform that FTM Brokers provides is xStation.

 

The xStation platform was voted “Best Trading Platform 2016” by the Online Personal Wealth Awards and offers fast execution speed, technical analysis and charting tools, and many other options. In addition to the desktop version, FTM Brokers also offers a mobile version and access to the xStore, an API that allows users to create their own applications.

 

Promotions

Clients can receive bonus points for completed transactions, for which various prizes are offered. Transactions must be made in the following instruments: currencies, indices, futures, metals. It is easy to become a member: open a real account, familiarize yourself with the rules of the loyalty program and accept the conditions.

 

At the time of writing this review, the prize is the Bosch kitchen faucet. There are also smartwatches, game consoles, TVs, computers, laptops, smartphones, bicycles, and tablets.

 

Support service

The main office is located in Minsk. The support service has three phone numbers available at once, e-mail and skype. However, no feedback form or live chat is offered.

 

additional services

Traders will find an important stream of financial information on the broker's website in the form of news, technical analysis, economic calendar, and can also take advantage of investment ideas.

 

For those who are just learning to trade, the "Training" section will be useful. FTM Brkers specialists have developed online lessons and face-to-face trading courses of several difficulty levels. For beginners - materials that provide key knowledge and skills of working in the financial markets. For experienced traders - specialized programs for the analysis and forecasting of the state of financial markets, as well as for the psychology of trading and the construction of successful investment systems.

 

Ways of payment

FTM Brokers accepts payments via bank transfers and bank cards. The latter, however, is only available to holders of cards issued by Belarusian banks. The company does not accept deposits through electronic payment systems such as Skrill or PayPal.

 

For payments using a bank card, the broker charges a commission of 1.5% of the payment amount.

 

Pros:

 

low minimum deposit; MT4; selection of trading accounts.

 

Minuses:

 

low shoulder.

 

 

FTMBROKERS is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.

In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.

The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.

What is the benefit of a broker?  

 

The broker FTMBROKERS makes profit from traders' transactions, as a rule, in two main ways.

The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.

The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.

Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.

 

Ways to cheat customers  

 

We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.

The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.

Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.

In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where are brokerage companies registered?

 

One of the key points is the place of registration and regulation of the company's activities.

Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.

However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.

But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization,   considering disputes between its members - brokers and their clients.

If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to pay attention to?

 

When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.

It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.

Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.

Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.

Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.

FAQ - broker questions

  • 1. Do the trader reviews impact on a rating of FTMBROKERS ?

    Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.

  • 2. How to leave a comment about FTMBROKERS on the website 4ex.review ?

    In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.

  • 3. Can we assume the broker FTMBROKERS decent?

    Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. FTMBROKERS received a score of 1 of 5 on our resource.

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