Fotmarkets

Fotmarkets has a low overall score of 2.08 and is not regulated by any major financial authority. User accounts have reported a complaint regarding an arbitrary balance adjustment. While the broker holds an active license from the Mauritius Financial Services Commission (FSC), potential risks should be carefully considered.

Fotmarkets holds an active Securities Trading License (EP) from the Financial Services Commission (FSC) of Mauritius under license number GB23201518. However, it is not regulated by major financial authorities such as the FCA, ASIC, or CySEC. The broker's regulatory status is listed as 'Not Regulated' in its core profile.

The minimum deposit for Fotmarkets is U$30, as indicated in the account entry conditions for all account types (Raw, Standard, Plus).

Fotmarkets supports MT5 (MetaTrader 5) via a white label solution. There is no indication that MT4 is currently offered.

Pros: Low spreads from 0.1 pips on the Raw account, high leverage up to 1:500, support for scalping, EA trading, and Islamic accounts, and availability of MT5. Cons: Not regulated by major financial authorities, low overall score (2.08), a user complaint about arbitrary profit confiscation, and limited transparency regarding business operations.

Yes, there is at least one user complaint on record. A user reported that Fotmarkets made an arbitrary balance adjustment of -$4,562.08, confiscating profits from gold trading, and only returned the initial deposit. The complaint is currently unresolved.

Fotmarkets does not publicly specify its availability in the US region. Given its registration in Mauritius and lack of US regulatory licensing, it is unlikely to offer services to US residents.

Fotmarkets offers features that may appeal to beginners, such as copy trading, low minimum deposit, and support for MT5. However, the lack of major regulation and reported user complaints indicate higher risk. Beginners should exercise caution and consider their risk tolerance.

Fotmarkets offers competitive spreads depending on the account type: Raw from 0.1 pips, Plus from 0.6 pips, and Standard from 1.2 pips. No additional commission or fee details are publicly specified. Overall, the spreads are relatively low.

Fotmarkets offers maximum leverage of up to 1:500 across all account types. Such high leverage can amplify both gains and losses, significantly increasing risk. It is not considered suitable for inexperienced traders.

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