FXMTrade.com Review

It is a robot trading GBPJPY. I have invested 1500 euro topped up with 2 times 500 euro after they assured me a roughly 10% account improvement per month. I asked also to make sure they were FCA regulated. Despite my calls warning things were running out of hand they managed to blow the account in just 11 days. They advised me to increase the leverage to 400:1 reassuring me there was no problem. Unbelievable .

never had a problem with fxmtrade,
I cut off without any problems,
so far I believe a good brokerage!

Hi everyone,

This is my review about FXM. If you want to give somebody money and forget about them use FXM. I tryed to make a deposit with 10$ (their minimum account) at FXM. They took the cash in 1 day and gived them back at withdrawal after 5 days taking 10% as withdraw tax :).
The other thing if you open a 10$ account your minimum lotsize would be 10c/pip. I did 2 transactions and couldn't open any new one because of "no margin".
Another problem: They have some contracts in the demo metatrader and in the real other contracts you can trade. Not to talk about the execution - you basicaly get requote until they like the price and give you ALWAYS the worse price.

It's just a cheap thief.
Victor

I have been using FXM Trade for a couple of months now, and can tell you there is a HUGE difference between using a demo account with them, and a live account. With the demo account, you click a button during a trade and it responds right away; just like it should. However, during live trading, your trades can take a critically long time before they are executed. And, the more the trade moves against you, the longer it takes.

Then there is what I call "Spread Manipulation." Let's say you click to close a trade at 1.500. If the trade is working against you, you will not get the quote where you opted out, but rather, where it settles, which sometimes is an agonizingly long way down the road; all whilst your money whittles away. The same cannot be said of the trade if you close out while it's working in your favor, and you think you are going to reap the benefits of momentum. Ah huh. In this case, you will get the EXACT quote at which you closed the trade even as it continues to move in your favor. Funny how it always seems to work out like that.

Anyway, it won't be long before I close my account with them. And oh yeah! Getting a response to your email will be days in the making, and even then, it will be in some form of broken English that's anything but useful.

For what it's worth, there is one trader's experience with FXM Trade.