Trusted Broker By BinaryOptionsThatSuck.com
Trusted Broker By BinaryOptionsThatSuck.com

FMTrader Overview

FMTrader
  • FMTrader
  • Bonus: up to 100%
  • Options Profability : 65-85%
  • Rating: 8.5 / 10

Basics

Broker Name: FMTrader
Platform: SpotOption
Founded: 2013
Bonus: up to 100%
Return/Refund: 65-85%/0-10%
US Traders Accepted: No
More
FMTrader Basic Information

Features

No. Of Assests : 80
Regulated : No
Demo Account : Yes
Deposit Options : C.C., WireTransfer, More
Language : 6
Minimum Deposit : 250

Screenshots

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Review Last Updated 2015-05-20 14:01:08

Editor’s Note – Why FMTrader doesn’t Suck in 50 words?

If a rose by another name smells as sweet, does a new broker with the same old name smell as bad as the original? I have to say that in this case no, absolutely not. After months of hard work it has come to our attention that FMTrader is a whole new broker, literally. Finally, bunch of legitimate businessmen who understand the long term nature of binary options brokering have re-furbished this broker who, like the Phoenix, is rising out of the ashes of the first. Regulation coming soon.

 

 Check out more Recommended Binary Options Brokers

 

Why does FMTrader Suck in 50 Words?

This broker sucks because it’s the same old SpotOption based platform. We already said a lot about this platform, and 1 thing we cannot take from Spot is the large number of white labels, some of them are really vicious. So far all good with FMTrader, ofcourse we’ll keep monitoring.

 

 

FMTrader Full Review – Looking Forward to a Leading Company

FMTrader, the new improved one, is a SpotOption powered broker. If anyone out there knows me at all they know I like SpotOption platform, if not the individual brokers. The platform is one of the most complete on the market and offers trading for just about any kind of preference. The asset list is very long and includes more than any one person can trade in a week. There are 12 major Forex pairs, 20 stocks, 7 commodities and 20 indices. While the Forex and stock trading is quite good, the commodities and indices are what I like. The commodities include oil, gold, silver, wheat coffee and sugar while the indices span the globe.

 

The asset list is supported by a full line of tradable options with expiry ranging from short term 60 second out to several months. Options include standard digital trading with calls and puts plus Pairs, One Touch, Ladder and iFollow Copy Trading. Digital trading is divided into Binary Options, Short Term and Long Term. Binary Options all have expiry sometime today, short term all have expiry ranging from 30 seconds to 5 minutes and the long term are all end of today, tomorrow or this week and range out to next week, end of the month and next month out to 6 months or more depending on the asset.

 

Pairs trading are the roots of binary options. These are options betting on which asset will perform better over a given time period, like a horse race between stocks. Some commonly traded pairs on this broker are Apple/Google and Gold/Silver. One touch options are usually only available over the weekend and can be used to predict large movements. Ladder Options are a more advanced form of binary, and pay a more advanced amount. They are bets on whether an asset will finish above or below a set strike price, you can choose near the money, in the money or out of the money strikes for different pay outs. ifollow   is the SpotOption copy trading platform and is directly accessed through the trading room. It includes a leader board of traders to copy and a few settings for your account.

 

 

Is FMTrader a Scam?

FMTrader may be a familiar face but it is a whole new broker in terms of look, execution, service, integrity and straightforward business/trading practices. Trust me; we have been very careful with this one in the past. The old management really did some nasty stuff, and we’re right from first place to warn our readers against using this broker. On the other hand, the new management seems to be moving stuff forward. I really can’t tell why they’ve chosen to take over this brand, maybe the great marketing work done by the old management to establish the original name brand, but we sure hope they would finally remove the old stain. After monitoring many different forums and websites we have found very few complaints that amount to anything. And I’m only talking about the last year under the new management, because if you scroll back in time, you’ll see some nasty complaints. Thank god that’s over. FMTrader is in Final process of regulation, so when they meet the requirements, I hope we could make this broker fully approved.

 

 

 Check out our Recommended Binary Options Brokers

 

FM Trader Complaints

There are some complaints (we are referring ONLY to the last 8-12 months under new management), but you have to dig through them to get the real picture. Some of them are old and have no bearing on the new broker, some are the usual traders having problems because they jumped into binary without learning what they needed to know, like reading the terms and conditions. Other than that there is not much there and you know if they were cheating or holding back on withdrawals the community would be screaming about it.

 

FM Trader Bonus

FMTrader offers a number of different bonus and reward programs. You will need to talk to your account representative to find out exactly what is available to you. Basically, there are sign on bonuses by account size as well as other promotions. The base trade volume is 40 times the bonus and must be met before making any withdrawals.

 

FM Trader Withdrawal

Withdrawals are easy with this broker. All you have to do, once you meet account verification requirements, is go to the withdrawal page and request one. Deposits and withdrawals can be made by credit card, wire transfer or Skrill. Withdrawals are free and are processed in under 3 days. Payout may take up to a week after that depending on method, Skrill being the fastest.

 

FM Trader Extra

This broker doesn’t really have anything “extra” when compared to others of this caliber but stands out next to lower quality ones. Two things that stand out now though are the Ladder Options and the iFollow copy trading which help elevate the platform to a whole new level.

 

 

 FMTrader Ratings

User Friendly 18/20

This broker is very user friendly. Not only is it built on the ever popular SpotOption platform the new owners have gone out of their way to make support easy to get. Chat and phone supports are only a punch of a button away, but you probably won’t need it because everything you need is easy to find. The website is available in 6 languages.

 

Number of assets and expiry times 18/20

FM Trader offers traders 20 stocks, 12 currency pairs, 7 commodities and 21 indices as underlying assets. That’s not the most of any broker I have seen but a trader will definitely have enough assets to trade. The expiry times start from 60 seconds, half an hour, hourly and go as high as the end of the week, end of the month and end of the year. One Touch Options are available and so is an Option Builder tool.

 

Commissions, Support and Effective return 18/20

No commissions will be charged for opening an account and Credit Card withdrawals are free of charge; however a $25 fee will be paid for a wire transfer withdrawal. Their support is fast enough and pretty polite and available through chat and phone. The effective return for In the Money trades ranges between 65% and 85%. Out of the Money trades have a 10% refund that can be adjusted with the OptionBuilder.

 

Deposit, Payment and Bonus 18/20

Deposits can be completed through Credit Cards, wire transfer, Skrill or CashU and the same applies for withdrawals. Keep in mind that you will have to withdraw to the same Credit Card or CashU account you used for deposit. Minimum deposit is $250 and minimum withdrawal is $100. The bonus differs depending on the amount you deposit and their ongoing promotion at the time. Withdrawals are quick and easy, and reliable, unlike the original FM.

 

Website Extras 13/20

Nothing makes them stand out and all the features are standard, for a great SpotOption based broker. Expiries, Option Builder, Pro Trader, Rollover, Close Now, Ladders and iFollow features are all big plusses. We want more!

 

 

 

FM Trader Overall Ratings = 85/100

 Check out our Recommended Binary Options Brokers

 

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27 Responses to “FMTrader”

  1. Mark Says:

    I downloaded the app on my phone from a link in Facebook and registered with my registering-email just to see how it looks like and if I like it. Before I even sat down and looked at it I got a call (the next day) from their customer service.
    He started asking questions about how much money I want to make with it, how old I was and what my profession is. All okay, but not customer friendly; he kept interrupting me, kept pushing me to make a deposit even after telling him ‘no’ or ‘not yet’. He told me that if I wanted to swim, I have to jump in the water instead of doing a little bit of research/self-education first, which I personally disagree with, but that’s personal.
    Even after telling him several times that I wasn’t comfortable transferring $250 to a deposit/account (even though I could withdraw it immediately after opening the account) only because somebody calls me about an app that I randomly downloaded out if pure curiosity. I’ll be doing some more research about trading and FM trader before I “jump in the water”

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    • Alima Says:

      Same thing happened to me yesterday. Downloaded the app, opened it and i got a call about an hour after. The lady (Maggie) asked me to make a $250 deposit as a startup. But I don’t have that kind of money just laying around waiting to be spent. I gave hermy card number and she tried to proceed with the payment and it didn’t go through. She kept pushing asking me for a second card number and I asked her what does she need it for and she said if I want to go through with the thing, I will need to give here my cards numbers. I told her it was pointless because there’s no money for that. She said she will call me back when I am ready then.

      Next thing I know, i don’t have access anymore to the app… If that doesn’t qualify as a suspicious behaviour then I don’t know what it is. Plus I saw earlier on the app that I could register my credit card on it myself directly so what do I need to be called?

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    • Richard Says:

      Hi Mark,

      I did the exact same thing, downloaded the app from facebook and received a call from FM Traders 30 minutes after I downloaded it. I also told them I need to do some research on FM Traders before depositing $250 and giving them my credit card details.

      Have you found anything out or did you go through with the trading?

      Has anyone else gone through with the payment and what are the results?

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    • FMTrader Says:

      Hey Mark,
      We sincerely apologize for the negative and unpleasant experience you have had while trading with FMTrader’s trading platform. We assume full responsibility for all the malfunctions and mishaps you might have encountered.
      You may rest assure that everything possible is being done to solve the problem you have mentioned. Our Customer serves teams works day and night to improve the services we provide our traders.
      FMTrader has a new management that gives top priority to customer service. It is guided by four core principles: professionalism, fair trading, reliability and transparency. These principles are clearly reflected in FMTrader’s trading platform.
      On the one hand, it enables our traders a variety of investment channels and advanced trading strategies that include more than 200 assets available for investment and multiple trading programs such as 60 second and one touch options. On the other hand, it promises direct and accurate settlement of investor’s transactions and fast and secured money withdrawal mechanisms.
      FMTrader operates a world class customer service department. Our representatives are highly attentive and responsive to any query that may arise. They are available on the phone, email and one on one chat.
      If, after that, you still encounter any problem with your FMTrader account, you are more than welcome to contact directly our management by visiting our website and filing a complaint at fmtrader.com/contact-fmtrader-management.
      Best Regards,
      Paul Harris
      Head of Customer Service Division

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  2. Vijay Says:

    i have the same experience also.even i told him that i’m not interested to open now.but he was tring to convinced me about an hour.he also asked me so many times to give credit card number.but i didnt give him.still i have confusion to open account.
    can i open account,if anybody know please guide me

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  3. odi Says:

    it seems as if we have had similar experiences with FM trader. does anyone one know of somebody who has actually went all the way with this site…?

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    • Diana Says:

      I put some money into an account and a training call was arranged. For various reasons that did not happen. However, when I spoke to Maggie recently I was advised that my account has a balance of zero. I asked how that came about as I had not had the training and had not done any trading. I was advised that I had signed up under another company who had been trading for me and lost my money. I have been offered a $ for $ top up by FMT if I put another $250 in the account and a new account will be established.

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  4. safradhiwi Says:

    i have the same experience also.even i told him that i’m not interested to open now.but he was tring to convinced me about an hour.he also asked me so many times to give credit card number.but i didnt give him.still i have confusion to open account.
    can i open account,if anybody know please guide me

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  5. Sid Says:

    I did open an account, never deposited the 250$, was called many times but didn’t answer. Finally answered and said I want nothing to do with them. I deleted app off my phone but nowhere on they’re site can you delete, close your account. I have to check with my credit card company to see if they have tried pulling money off it and if so I will tell my credit card company to stop any further transactions. As of right now there is no money in my fm trader account. I find it odd that you can open an account but can’t close it!!!

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    • Matt Says:

      Sounds like I’ve had the exact same experience, except it was with http://www.B54.com instead of FM Trader, both companies are “Co Operated” by Hortense Holdings Limited. Both seem like they employ the same tactics. I was continuously called, spoke to a broker for about an hour after saying no I didn’t want to do their “speciality” training, I stupidly caved to agreeing to deposit $500 with them. I never opened any trades with them, asked that I pull out and the money be deposited back onto my credit card. Two weeks later two lots of $500 were taken from my account. Called B54, no response, my so called personal broker was unavailable every time. I asked for an explanation and for them to return my funds. No response. Two weeks later another two lots of $1000 were taken from my account. Had to call my bank to cancel my card. Finally spoke to one person from B54,who couldn’t tell me why money had been taken out. After a while I was locked out of logging into B54’s login page. Money gone – no contact from B54. Do not deal or hand over your credit card details to this company.
      http://www.B54.com = S**
      Hortense Holdings Limited and anything in any way shape of form associated to it = S***. Will take money from your account without your permission.

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  6. John Says:

    Hi ,

    6 months ago I started trading with FMtrader, I can say that I am very happy that I decided to trade with them they offer a lot of useful tools that educated me on how to read the market. The fact that I am still a trader with them shows that they are legit.

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    • Saurabh Says:

      Sounds like a paid review!

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  7. Michael Says:

    I decided to take the plunge with $250 to check out how it works. Once I get the hang of it this should be profitable. A broker has left a message a few times to assist me with training. To get money out you need to submit 3 types of ID. I submitted copies of my passport, photos of my credit card and a tax statement with my address just today. I wont put anymore money down until Im sure I can withdraw the cash. Im happy to provide feedback on how this plays out, especially in reguards to any perceived abuse of trust.

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    • Hasan Says:

      Same thing happen to me,please let me know the results?

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  8. Martin simon Says:

    Same thing happened to me, they were convinced well to took my money £250 and hold my account, i trunk then but they are asking my credit card details or driving licence or residential notary documents ie…

    and they are given wrong post code and etc…

    I don’t know what to do now to get back my money £250, also I thinking to go for inter pool and crime stopper and company house and citizen bureau, FCA…..

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  9. Darren Says:

    Am I the only one trading with them???
    I have the same experience as you all, download the app i saw on facebook, open a demo account, couple of days later, someone called me, ask me if i want to open a real account, and ask me to deposit 2k (for gold account) and that i would get 500 dollar bonus, and i can only deposit in the currency that i chosen in the demo account (GBP), stupidly, i agreed to deposit GBP1,000 for a silver account and get a 250 bonus (in the process she keeps persuate me to go for the Gold account but i say i don’t have that much money and eventually she gave up and we settle with Silver).
    The next day, another guy named Ethan called me and says he’s my account manager and he will teach me how to trade, so we talks over the phone while he shows me how to trade on Skype (shared screen), but that only covers the basic of binary option, and the candle chart.
    After stumbling a few times and lost a few hundreds, I was going to give up and then this guy called Shawn rang me and say he’s going to teach me more, so I learned about studies such as “Bollinger bands, MACD, RSI”, and that when i started to get a hang of the trades, and for the past 3 months I went from 1675(after another 250 deposit and get 125 bonus) to 6054, a few days back, I made my second attempt (the first attempt was cancelled by my “account manager” after he said I didn”t do enough trade) of withdrawal of GBP500 from my account, and it has been approved, and 500 was pulled out from my account, and still waiting for it to arrive in my bank account, until then, I still
    skeptical…Hope this is going to end well, cause as you can see, I’d put in quite a lot (moneywise, and timewise), fingers crossed.

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  10. Jarrad Gordon Says:

    I deposited 10k AUD to my fmtrader account and start working with a broker, I’ve been trading for little bit over a month and now i have 47234 AUD in my account. still didn’t made a withdrawal yet.

    after reading those comments i really hope that they are not true because i made a lot of money with fmtrader and i want to continue.
    now i submitted a 15k withdrawal hope it all goes well.

    if someone that had bad experience can contact me and tell about it personally it will be very helpful.

    jarrad.gordon36@gmail.com

    Thanks,
    Jarran Gordon

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  11. Dan Says:

    I have recently started using FM Trader. I downloaded the app first and got the phone call within days telling me about the company and how things work, and asked what my intentions or goals were, and told me that if i deposit into the account and want to start trading then a broker will be in contact with me to teach me the ropes, so i deposited the minimum $250. I did my research and couldn’t find any solid evidence that this was a scam, only peoples opinions (everyone is sceptical about things like this unless they use it) but to my knowledge everything seemed legit. So once i got setup and started talking to my broker, who rings you at a time that suits you, i deposited an extra $2250 to build up my equity. The broker will also call you using skype, that way when they are teaching you how to use the trading platform, find reports and analyse charts, you can see their screen which makes it alot easier to understand. And because they call you on skype it doesn’t cost you anything. My broker calls me everyday to see how i’m going and also gives me some heads up on where good profits can be made. They will also teach you money management and work out a plan based on your budget and goals. I’ve been following the advice and have been making profits already, only small, but i spose you have to start with small steps. Some people wonder why would they want to help you make money, isn’t it better for you to lose money so they make more? Well for the broker that is assigned to you, they make commissions off your trades, so if you lose $2000, you won’t want to use them. But if your getting a good service and keep trading with them long term, it means they will keep getting commissions from your trades. So put simply, the more money you make – the more money they make. I must add this isn’t for everyone, it take’s time to learn and with experience you will build your knowledge. At first the graphs make no sense to someone who doesn’t know what their looking at, but they will teach you how to analyse charts and what the market is doing, it actually isn’t as bad as it seems. So to sum up – if your interested in doing this, don’t just jump in and start trading if you have no idea what your doing because it’s a sure way to lose your money. But if your willing to spend the time to learn it, it can have good rewards. Don’t expect to get rich quick, you need to look at this as long term, as with anything, it takes time to acquire the knowledge to start making more and more successful trades, just listen and follow your broker.

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  12. shaun Says:

    Anyone had a successful withdraw yet, please advise?

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  13. Tom Says:

    The person assigned to you makes money on trading volume: wins AND losses. Because he won’t have a customer once your account is drained, he may be interested in your success but he is more interested in your turnover. However, the solution to a diminishing account is to encourage you to put more of your own capital in and to entice you to do so by offering all sorts of bonuses (which are locked in until you do trading volumes of more than $1M).

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  14. rami Says:

    this company is BAD he stole my money in the same way and laying to every one that set in UK and the company in Israel in Ramat- Gan bursa .
    every one stop trading in this bad company .the VIP not “MIKE HIMLTON”. search on Facebook to find him

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  15. Donald Smith Says:

    I have been attempting to receive my funds back from FMTrader for several months and it has been an interesting experience when they have wanted me to invest they called me incessantly and then when I wanted my funds returned they have been completely silent. This is NOT a trustworthy business – do not invest your funds if you ever want to see them again.

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  16. Joe black Says:

    I am not sure if I can say they are scammers but they definitely are unethical.
    The Account manager would call you to open an account promising risk free trades and bonus. From here on this gentleman will “elope”.
    You will handed over to a senior trader who will share his results with you and explain a strategy as if you are already a pro.
    With those half baked strategies you will win some and lose lot.
    The trader will ocassional give pointers and more than 75% of the time it will be late compared to when he takes trade and you end up losing. He may give you risk free trade but as a bonus which means you have to trade 40 times volume to be able to recover it. (in other words, that money is lost – based on your trade that you took because of his pointers). I think this is their strategy to make you lose money so you will be with them trying to recover your money and keep investing more.
    They do not share anything in written and their verbal session hardly makes sense. They show it on an old chart where they can show pattern – if you invest here, you earn 80%, etc. But in reality when its live and the charts are moving, it is not easy and you lose money. They hide important details for the reason that you lose money.
    I am dealing with an agent Shawn Wells and he is absolutely the worst person ever to deal with. I can sense that he has an agenda and that is to make you lose money with his incorrect strategies and either invest more or lose few 1000s dollar by the time you get your sanity back.

    In just 1 month I have over 1000$ (thanks to his 4 wrong trades where I lose 500 each).
    he conveniently says – you are smal investor and he cannot spend much time with me and every conversation is as if he is doing a big favor. jeez!

    There was also lie where risk free trade was told that it could be withdrawable and then once it was put back to my account it was labelled as bonus and followed the condition of 40 times trade which means I have lost the 2000$ and to get it back I will need to be very lucky to win or keep investing. its a blackhole!!!
    These guys are NOT trustworthy and almost follow unethical practices to lure new traders.
    They say 24×7 support but its far from true. even your designated senior trader wont respond to you on skype. Chat does not work when you need and the phone call gets forwarded to some drunk rude women who are eager to put the phone down. I was supposed to get a callback 2 weeks ago and havent recieved it yet. :)
    Stay away from them.

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  17. Wandile Says:

    Same here,i was also forced into opening even though I didn’t know much about them. I didn’t, but I want to know if they are legit.

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  18. FMTrader Says:

    We sincerely apologize for the negative and unpleasant experience you have had while trading with FMTrader’s trading platform. We assume full responsibility for all the malfunctions and mishaps you might have encountered.

    You may rest assure that everything possible is being done to solve the problem you have mentioned. Our Customer serves teams works day and night to improve the services we provide our traders.

    FMTrader has a new management that gives top priority to customer service. It is guided by four core principles: professionalism, fair trading, reliability and transparency. These principles are clearly reflected in FMTrader’s trading platform.
    On the one hand, it enables our traders a variety of investment channels and advanced trading strategies that include more than 200 assets available for investment and multiple trading programs such as 60 second and one touch options. On the other hand, it promises direct and accurate settlement of investor’s transactions and fast and secured money withdrawal mechanisms.

    FMTrader operates a world class customer service department. Our representatives are highly attentive and responsive to any query that may arise. They are available on the phone, email and one on one chat.
    If, after that, you still encounter any problem with your FMTrader account, you are more than welcome to contact directly our management by visiting our website and filing a complaint at fmtrader.com/contact-fmtrader-management.

    Best Regards,
    Paul Harris
    Head of Customer Service Division

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  19. Phillip R. Higgins Says:

    I enjoyed the first deposit bonus provided to me by FMTrader after ensuring funds for my account. They even offer me risk-free trades that give me and my trade better leverage. I wish I was always a first-time depositor to experience things like this. I have been trading with them for almost a year now and I never had a slight problem when dealing with them.

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  20. Kim Maher Says:

    I have invested $2500 into FM Trader also. I originally invested $500 and was persuaded the next day to add another $2000 and that trading etc would be provided.

    I no longer have time or energy to learn how to trade and wish to withdraw my money. Apparently I have to provide colour copies of my ID and then my money will be returned.

    Has anyone sent this through and had their money returned?

    I hope they arent scammers.

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