Inmarket FX Review
It seems that Integrated Markets (Inmarket FX) provides 2 account types, but the information about their trading conditions is not clearly presented. Leverage levels provided by this broker are up to 1:400 and there are micro tradeable lots are available for trade to those unwilling to use large volumes.
INMARKET FX Advanatges:
– MT4 available
Although this platform is offered by the majority of forex brokers, we still consider its availability an advantage. The MT4 has proved to be a reliable and convenient platform, equipped with all a trader needs, plus nice customization options for those who have coding skills.
– Tight spreads
Although Inmarket FX has not disclosed the spreads it offers on its website, we tested its demo MT4 and found out they are really good: average ones on EUR/USD amount to 0.2 pips. Even if we add the commission of $6 per standard lot which applies, the trading costs per standard lot for this pair are below pip. Of course, there are brokers, with which the cost of trading is lower than this – for example, global brokerage IG provides spreads averaged 0.6 pips for this pair and charges no commission fees. More importantly, IG is licensed by some of the most reliable governmental authorities, while Inmarket FX is not.
– Many instruments available for trade
This broker provides wide range of financial instruments for trade, including numerous currency pairs, CFDs on indices, commodities, stocks, precious metals and cryptocurrencies (Bitcoin and Ether).
– High leverage levels offered
The maximum leverage provided by Inmarket FX is up to 1:400, which is considered a high ratio, although many brokers offer similar or higher levels.
INMARKET FX disdvantages:
– Registered offshore
The company owning and operating this brokerage, Integrated Markets Limited, is registered in Vanuatu, an offshore destination that appears to be very popular among forex and binary options brokers lately. Although they claim to be “licensed” by the local Financial Services Commission (VFSC), they are actually not subject to any requirements or supervision.
– CNMV warning against this broker
Although the website of the broker is available only in Spanish, Inmarket FX is not licensed by the Spanish financial watchdog, the Comisión Nacional del Mercado de Valores (CNMV). What is worse, the CNMV has issued a warning against Integrated Markets LLC (the company operating the www.inmarketfx.com) for illegally targeting Spanish investors.
– Poor presentation
Another thing that bothers us with regards to Inmarket FX is that it website lacks information on its spreads, and the minimum deposit it requires for Standard account holders. In our opinion, this is not a transparent pricing policy and combined with the offshore regulation makes this broker seem shady.
Although the instrument portfolio of Integrated Markets (Inmarket FX) is rather rich, and its trading costs seem low, we don’t recommend doing business with this broker. First of all, it has not presented its services well on it website in terms of pricing. Important information about its spreads, commission fees, initial depoosit required is missing. What is worse, Inmarket FX is not overseen by any governmental agency. Although it obviously targets Spanish investors, the broker is not licensed with CNMV and the latter has even issued a warning against it. Instead, Inmarket FX is registered offshore, in Vanuatu.
Inmarket FX Review Conclusion
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