Fxmarketlivepro Review by professional crypto currency trading experts the “ForexSQ” FX trading team, Everything you need to know about the broker is in this Fxmarketlivepro Review.
Fxmarketlivepro Review
Fxmarketlivepro offers several types of trading accounts with the lowest initial deposit of $1000, which is quite a lot, compared to other brokers like XM and FXTM who require just $5, or IG who does not have an initial deposit requirement at all.
At a second look, it appears that Fxmarketlivepro is offering some kind of hybrid between trading accounts and investment packages, as it promises a ROI on the different accounts. We have not seen such information provided by other forex brokers, as usually the success of the investment in forex depends on the skill and luck of the trader and the circumstances.
On the other hand, the broker says it offers 50 currency pairs, indices and commodities, as well as spot gold and silver and binary options, which suggests we are talking about trading, after all.
Fxmarketlivepro allows the use of expert advisors (trading robots) for trading.
Fxmarketlivepro says it is “a leading European financial risk management broker ” that offers individual investors, traders and Firms a professional treasury and foreign exchange risk management services. The company claims to be based in Luxembourg and to be registered under the supervision of the SICAR (Société d’investissement en capital à risque) CAA 153 441 925.
However, it turns out that a SICAR is a tailor made investment vehicle for private equity and venture capital. It invests its assets in securities representing risk capital in order to make its investors profit from results of assets’ management. The minimum share capital of a SICAR is 1 million EUR of which minimum 5% has to be paid up. The promoter of a SICAR is not subject to any authorization from the Luxembourg watchdog Commission de Surveillance du Secteur Financier (CSSF).
On the other hand, the CSSF itself recently has published a warning that it has not granted the required authorization to Fxmarketlivepro to provide investment services in or from Luxembourg.
This suggests that the broker might be misleading claims regarding its legal status and could actually be a scam.
Generally, it is best to avoid dubious brokers who make misleading or false statements and rather choose a well-regulated and reputable broker, like the ones supervised by a strict watchdog like UK’s FCA.
Trading platform
Fxmarketlivepro offers the popular MetaTrader 4 (MT4) as a trading platform – for dekstop, web and mobile devices.
For over 10 years MT4 is the most preferred trading platform by brokers and traders alike. It offers multiple features, trading and analysis tools, charts and supports EAs.
Methods of payment
Fxmarketlivepro accepts payments with credit cards (Visa, MasterCard, Discover and American Express), direct bank deposits, bank transfers, PayPal, Western Union and MoneyGram. Those are quite a lot of options, including some more rare ones like Western Union and MoneyGram, which are seldom offered as a deposit option by the forex brokers.
Frankly, we are not entirely sure what to make of Fxmarketlivepro. It appears to make some misleading statements regarding its regulation and there is a warning against it from Luxembourg’s CSSF. Besides, the broker does not provide enough information about the trading conditions and instruments. Most brokers who are serious about their business, make sure they display this information in a clear and concise manner.
Instead Fxmarketlivepro displays information about ROI on the accounts (investment packages), which is not usually done by the forex brokers. Perhaps the company is actually offering some hybrid service. But there is not enough clear and detailed information about this, either.
All in all, Fxmarketlivepro looks very dubious to us and we advise you to avoid dealing with it. As we have already said, there are plenty of properly regulated and reputable forex brokers and other types of investment companies.
Fxmarketlivepro Review Conclusion
For more information about crypto currency trading brokers visit TopForexBrokers.com crypto brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about Fxmarketlivepro Review.