Score
Fxm
United Kingdom|5-10 years| http://www.fx8888.com.cn/En/
Website
Rating Index
Contact
Licenses
Single Core
1G
40G
1M*ADSL
- The claimed CyprusCYSEC regulation (license number: 185/12) is verified as a clone firm. Please pay attention to the risk!
Basic information
United KingdomA Visit to Fxm in UK -- Finding No Office
The survey team went to London, UK, to visit the the dealer Fxm and found no office at its business address. It was supposed that the dealer might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this broker.
United KingdomFailure to Find Fxm’s office in Australia
The investigators, based on the result of this field survey, confirmed that Fxm’s real address failed to match with the one in its regulatory information. Its MM license (license number: 391441) issued by Australian Securities & Investment Commission is a suspicious clone, so is its STP license (license number: 677530) by Financial Conduct Authority. Beside, the MM license (license number: 185/12)
AustraliaA Visit to Fxm in UK -- Finding No Office
The survey team went to London, UK, to visit the the dealer Fxm and found no office at its business address. It was supposed that the dealer might just use that address to register its company, or there was no offline exhibition place. Please be prudent when trading with this broker.
United KingdomFailure to Find Fxm’s office in Australia
The investigators, based on the result of this field survey, confirmed that Fxm’s real address failed to match with the one in its regulatory information. Its MM license (license number: 391441) issued by Australian Securities & Investment Commission is a suspicious clone, so is its STP license (license number: 677530) by Financial Conduct Authority. Beside, the MM license (license number: 185/12)
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Website
fxmbloc.com
Server Location
Hong Kong
Website Domain Name
fxmbloc.com
Website
GRS-WHOIS.HICHINA.COM
Company
HICHINA ZHICHENG TECHNOLOGY LTD.
Domain Effective Date
0001-01-01
Server IP
47.91.253.249
-
fx8888.com.cn
Server Location
Hong Kong
Website Domain Name
fx8888.com.cn
ICP registration
粤ICP备17069349号-2
Website
WHOIS.CNNIC.CN
Company
阿里云计算有限公司（万网）
Domain Effective Date
0001-01-01
Server IP
47.91.253.249
Company Summary
Risk Warning: Please note this forex broker is a clone one. Please be aware if the risk and the potential scam!
BASIC INFROMATION
A Straight Through Processing (STP) broker, FXM is a foreign currency dealer situated in the UK. They assert that some of the main advantages of working with them include commission-free trading, access to sophisticated trading tools, protection against negative balances on all accounts, availability of a personal account manager, use of straight-through processing, absence of a dealing desk, capacity for high leverage, access to free training and demo accounts, a wide range of trading instruments, fund segregation, and high levels of security. We'll use this analysis to determine whether the aforementioned services are actually provided and to assist you in determining whether they are the best broker for you.
BUSINESS SCALE
Forex: Although we do not have a complete breakdown, Real FXM offers you the chance to trade popular currency pairings like EUR/USD, GBP/USD, and USD/JPY as well as uncommon currencies like USD/MXN (Mexican Peso), USD/TRY, and others (Turkish lira).
Metals: You may trade precious metals like Gold, Silver, and Platinum using CFDs at a far lower cost than you would pay to buy them in actual form.
Soft commodities, like sugar, coffee, and crude oil, are accessible for trading; there may be others, but those are the most common.
Indexes: You may trade a number of significant international indices in the UK, US, Europe, Asia, and Australia. The UK 100, Nifty 50, and France 40 are a few examples provided
Shares are accessible from all around the world, including the UK, US, Europe, and Asia.
ACCOUNT TYPES
Three distinct accounts are available when signing up with FXM; we've listed them below, along with details on their prerequisites and benefits.
Fixed spreads, economic calendars, real-time news, daily analysis, one-click trading, unique chart access, traders' opinions and analysis, and data security are some services that are included with all accounts.
X-Standard Account: This account offers standard spreads, a leverage of 1:200, and a minimum opening deposit of $200. It utilizes the X-Web trading platform and offers solely Forex pair trading. There is a limited amount of free personal instruction, and the sample account is free for two weeks. A personal account manager is not available, and you are only permitted to have a maximum of 25 open trades or orders.
X-Premium Account: A deposit of $2,000 is necessary to open this account. Premium spreads and leverage up to 1:400 are included. It employs the X-Web trading platform combined with mobile apps and offers trading in metals and Forex pair. Personal training is totally accessible, and a free test membership is available for a month. A personal account manager is available, and you may have up to 75 open trades or orders. Online chat assistance is also available.
The minimum deposit amount for the X-Pro Account is $5,000. It offers premium spreads and has a 1:400 leverage limit. It employs the X-Web trading platform and mobile apps, and offers trading in Forex pairings, metals, and commodities. Access to personal training is unrestricted and there is a free sample account available. A maximum of 200 active trades or orders are permitted, and both a personal account manager and online chat assistance are available.
TRADING PLATFORM
The single platform offered by FXM is called X-Web; it is simple to use, doesn't require downloading or installation, and clients may access it from any location in the globe using a PC or laptop.
Customization, chart analysis and trading, news and analysis, one-click trading, an integrated economic calendar, and automated trading are just a few of its numerous capabilities. It also comes with a mobile application that enables trading while on the go, is user-friendly, and is designed for small screens.
Leverage
The account you use will determine how much leverage you may employ. Using the Premium or Pro accounts will enable you to utilize leverage up to 1:400, while using the Standard account will allow you to have the account leveraged up to 1:200. When starting an account, you may choose the account leverage, and if you later decide you'd want to modify it, you can do so by getting in touch with customer care.
Market Sizes
Trade sizes on all three accounts begin at 0.01 lots, or micro lots, which are equivalent to 1,000 units of money. The trades then increase by 0.01 lots at a time until they reach the maximum. Unfortunately, we do not know how many open trades and orders you can have at any given moment, nor do we know the maximum transaction size for any of the accounts.
TRADING EXPENSES
There are no additional commissions charged to the accounts or trading because all three accounts employ a spread-based method (which we will examine later in this study). Swap costs, which may be positive or negative and are often viewable inside the trading platform you are using, are fees that are assessed when you hold a deal overnight. Swap-free accounts are provided by certain brokers, although FXM makes no mention of them.
SPREADS
We don't completely grasp spreads, but we do know that they will be reduced the higher tier of accounts you have. However, we lack examples of particular spreads. We are unsure of what the Standard account's standard spreads, Premium account's premium spreads, and Pro account's pro spreads truly equal to, hence we are also unsure of the total cost of trading with FXM.
MINIMUM DEPOSIT
The minimum deposit needed to establish an account is $200, which gives you access to the Standard account. If you want to use the Premium account, you must deposit at least $2,000, and if you want to use the Pro account, you must deposit $5,000. Normally, the minimum deposit amount decreases once an account is formed; regrettably, we are unsure if that is the case with FXM.
Deposit Procedures & Fees
You may deposit using a few different options, including Bank Wire Transfer, Credit/Debit Card, and Neteller.
The deposit information page discusses when to deposit (after creating an account) in great detail, but it makes no mention of fees, so we are unsure whether any have been imposed. We can say with certainty that you should inquire with your individual bank or credit card company to see whether they would tack on any additional outbound transfer costs.
WITHDRAWAL PROCEDURES & FEES
To be clear, the same three withdrawal options are available: bank wire transfer, credit/debit cards, and Neteller. Only the amount you initially placed can be withdrawn using a credit or debit card; any additional funds must be transferred using one of the other ways. Depending on your country, there is a $20 additional withdrawal cost when utilizing bank wire transfers. The other two options are accessible, but there is no indication of any fees.
CUSTOMER SERVICE
The customer service team can be contacted 24 hours a day 5 days a week, they close over the weekend and on bank holidays.
You can use the online submission form, fill it in with your query or request and you should then get a reply via email. You can also use the provided postal address, phone number, support email, compliance email or Skype username.
Address: C B C House Realfxm, 24 Canning St, Edinburgh EH3 8EG, United Kingdom.
Phone: +441316189330
Support Email: support@realfxm.com
Compliance Email: compliance@realfxm.com
Skype Username: realfxm.Support, Realfxm
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Clone Firm Cyprus
- High potential risk
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Nguyen72
United States
Unable to withdraw removed me from chatting group, the app is gone, the manager disappeared from Facebook
Exposure
01-16
AB-Y
Australia
Klin Jay, a Singaporean Chinese I met on LinkedIn, whose real name is Zhang Zhongjian, transferred to WhatsApp after chatting on LinkedIn. After chatting for a period of time, he felt that the three outlooks fit together. Then he showed his talents to induce me to invest in Bitcoin. , The choice of the platform is Fxm. The background information of Fxm on the Internet is a centrally controlled and controlled company. There may be the possibility of applying information to operate. After I invested more than 10,000 Australian dollars, the profit amount was 360,000 yuan, the customer service told I need to pay taxes after my profit exceeds 100,000 before I can withdraw I personally realized that there was a problem with the investment platform (from the details of the website domain name, network security and public security filing), so I did not proceed with the next step of tax payment and investment. As a result, he told me that he would contact customer service to conduct a transaction account and withdraw cash. I myself have realized that I can’t get the money back, so I don’t care, and I will verify that it’s all lost. Exposure here is not to denounce money, but to warn everyone not to be deceived by perfect character packaging. Although everyone expects to meet excellent people, there are too many social scams. Please keep your eyes open.
Exposure
2020-11-17
振℡
Hong Kong
After a round of operation, the platform asked me to add position, claiming that my data was unmatched. After doing so, the I placed order correctly in round 2. But a mistake in the final round caused the unmatched data. I was asked to make up for the amount of order placing and the P&L margin! But I failed to make withdrawal due to wrong bank information. The service asked me to pay 35% margin, i.e., 180 thousand yuan or so. So I applied for the 25% margin, 130 thousand yuan. I got a real “whose hoops” over here.
Exposure
2020-06-02
FX2294958976
Hong Kong
As long as I applied for the withdrawal, the platform would froze my account. Having paid 50 thousand for unfreezing the account, I couldn’t log in to the platform.
Exposure
2020-05-16
朴永男
Hong Kong
They won’t let me withdraw and shut the website later. Their manager changed name. I can’t contact them now.
Exposure
2018-07-07
FX6749748264
Hong Kong
I transferred the money via e-bank to the company account on June 16, 2018. But the money has not yet arrived in my personal account. There are pictures to prove my words.
Exposure
2018-06-20
Hendryono
Turkey
For some reason, my withdraw button on the website doesn't work. I tried it many times and called the customer service but no one replied. My money was stuck!
Neutral
2022-12-13