A Binary Option is a trading instrument with a fixed return that is determined at the outset of the trade. If the prediction is right, the trader receives an agreed upon payout. If the trader is wrong, then the person only loses the initial stake. With so many online binary trading platforms sprouting up, it can be difficult for one to select the type that is the best to utilize. One such binary trader that is gaining traction in the marketplace is FMTrader.com.
FMTrader was established in 2013 and functions out of London, England. With operation of just over a year, FMTrader is still relatively new to the Binary Options marketplace. As such, the company is still learning the best practices of what it takes to succeed in the marketplace. The company recently revamped their management and has already developed a reputation for a high level of customer service and training. They are headquartered in the UK and operate on the SpotOption platform. Trading features include:
- 60 Second Options
- High Yield Touch
- Option Builder
- Pair Options
- Roll Over
- Double Up
Although the company is still in its infancy, FMTrader includes features that are enough to describe their success in a very small period. Let’s delve into some of the key features that make this Binary Options firm one worth checking out.
Top Features Of FMTrader
FMTrader may not be one of the veteran binary options brokers in the space, but they are off to a really strong start. Through offering the features that traders want most, many people are making the decision to partner with this broker. The platform is solid, as it is a transportable trading platform. In order to deal with this broker firm you don’t have to download any type of advance software or even application.
The web-based nature of the platform is designed keeping in mind the desires of traders. They are also in the application process for a CySEC CIF license, which will make them regulated throughout the EU. This is a very important feature of the site since it shows that the company is legit and accredited for use, which should put one at ease knowing that the site is legitimate. Regarding the platform, it’s ease of use is really important since most traders do not want to be bothered with extra frills or unnecessary buttons with needless complexity of the website. Those people who are not used to dealing with trading online can even manage the system with ease.
FMTrader has a number of various base account options, which is quite good and they also have the option builder, which is very good for setting your own expiry times. The only catch is at this time they are only accepting EU traders and not US traders. And although there are no demo accounts, they will pay you fast!
The service will cash you out within 48 hours. An option unique to FMTrader is that 10% of the invested amount is paid back even if your option expired out of the money. The service prides itself on the speediness of its payment. The base currencies for accounts can range from a number of global currencies including: US dollars, British pounds, Australians dollars, in Euros, in Canadian dollars, in Japanese yen, in the South African rand, the Turkish lira, and the Russian ruble.
It’s really simple to establish a new account with minimal formalities as the site only asks users to fill a small registration form. After few minutes of deposit, you can start trading with their easy trading methods. To make it easier and smooth they have placed every essential link at the home page, which saves you from finding them through the website under various links. The homepage design is very sleek and crisp which makes the site very easy to read.
Reasonable terms and conditions, plenty of tools, trade types, assets, and first-rate customer service round out the package. Those who are considering partnering with FMTrader should proceed with confidence.
Their trading system is really first-rate. It offers features that are totally practical and helpful. If you look at their payouts, they are totally trustworthy since they do not trap you in hidden clauses and maintain complete transparency.
When it comes to money, the minimum deposit is $200, with a minimum investment of $25, and maximum investment of $1,000. Though there is a maximum in place, those who wish to invest more than $1,000 do have the option to purchase the same identical contract more than once.
FMTrader does not have many deposit options, however the site supports the most common credit cards such as Visa, MasterCard, Maestro and Cartebleue. They naturally have bank wire deposits available to all serious traders who deposit larger amounts.
All withdrawals through the site are pretty straight forward. When you make a withdrawal you will get your funds back on your credit card up to the amount you deposit. The rest will be sent via bank wire.
The service has a few different account tops, ranging from a bronze account up into a platinum account. The company fails to actually specify any details on the site on how much you need to deposit to get the various account types. But generally how these work, is depending on your deposit amount, you’ll get some extra benefits.
Criticisms Of FMTrader
As an up and coming leader in the Binary Options trading industry, FMTrader has many positive attributes, but there are still some areas where the platform falls a little short. The biggest criticisms of the service, is the way that the site goes about its business, with many suggesting that it is relentless in asking their customers to trade more and more.
The main time that customer service will get involved is when you decide to fund your account. In this case you can expect high-end customer service, phone calls from the friendliest representatives and basically anything they can do to get you to spend more money! Once FMTrader got you, they will not stop until they get you to deposit more and eventually wipe out your account in creative ways.
The same company that’s behind some other Binary Options firms in the industry owns the FMTrader Brand. 777Binary and Vault Options are the sister firms, which have been flagged in the past as possibly being a little shady. As such, it’s recommended to proceed with caution when trading with this service. It’s recommended to only do a small test to get your feet wet before moving forward with a large trade.
FMTrader workers are very gentle people; they are highly qualified people who have worked with leading companies in the past. The service allows customers to contact the company via phone, email, or live chat. Turnaround times are usually fairy decent. Live chat and calls are replied within a minute, which is much quicker than using email that takes a few days. In addition to English, FMTrader also provide support for several additional languages.
Although fresh to the market, FMTrader has made some strides within the last year. FM Financial Trader is good broker overall. They have responsive 24/7-customer support, many trading features, and a welcome bonus up to 100%. The service is really one of the new leading binary trading platforms that is helping to shape the industry. Although it may be one of the newer sites to hit the market, there is a lot to be gained from using the services. Their payout ratio is very good and usually very efficient, with 48hr the usual turnaround time. So if you’re looking for a place to trade online, look no further than FMTrader.com!