ATTENTION: We advise against this broker. They do not respond to our emails!
FMTrader supplies the binary traders a wide range of educational tools to make the best investing decisions. In this FMTrader review we have rated them the almost maximum of points available. The only thing we miss are ladder options and iFollow/SpotFollow, the social trading binary option.
FMTrader has a website makeover scheduled for early 2015 and we expect them to migrate to SpotOption 2.0 trading platform which the missing binary option types. You might want to check out their website now for new options: fmtrader.com (Update: ladder options, iFollow and Forex CFD’s are added to the option types! 🙂
FMTrader Option Types
As a trader you are not required to download any software on your computer. The trading platform is 100% webbased. On the main page the user friendly platform is immediately visible making it easy to trade the market after loggin in.
FMTrader offers 8 types of option to trade. This is a brief overview:
- Binary options – the common binaries are available to trade commodities, currencies (forex), indices, stocks and pairs. You can choose for end of day options, but there are also expiries of 3 weeks. Payouts up to 85%.
- Pairs – well-known in the binary options world and great for more experienced traders. Do you know which stock will outperform the other one? Trade pairs binary options like APPLE vs ALPHABET. Payouts up to 80%.
- One Touch – are you very good at index trading? You should give it a try with this type. Nasdag or Dow, if you think they will hit a certain value (touch once!) then you might endup with a 420% revenue on your investment on indices and up to 520% on APPLE binary options!
- Short term – put some excitement in your life with the short term options. Take a close look at your Japanese Candlesticks and pick a direction. In less than a minute you can make money (or lose :). Short term binary options are available in 30 seconds, 60 seconds, 90 seconds, 120 seconds and 300 seconds. Payout up to 70%.
- Long term – the long term option gives a longer time frame before expiry. Instead of picking seconds or minutes, with the long term binary options you pick a date. Depending on the asset, dates range from a week to nine months.
- Ladder options – optiontradingpedia.com’s favorite option type. The ladder options even offer a 1500% payout when your position ends in the money. But as with most things, high potential payouts also means high risk of losing the stake. Are you a professional trader doing your homework? Then this might be your cup of tea. Ladder Options are available in 5 different time frames: 15 minutes, 30 minutes, 45 minutes, 60 minutes and 75 minutes from your current time when trading. We have a special article dedicated to ladder options trading.
- FX / CFD – this option type is new since 2015 and also known as Forex Option. ‘FX’ is an abreviation for ‘forex’, the currency market. ‘CFD’ is short for ‘contract for difference’, which is also offered by netotrade, plus500 cfd service and more cfd specialists. In the binary option trading industry FX CFD means that you enter an amount, say $25 and hit the call button when you think the price will go up on the currency pair. This type of options has no expiry time, you can tell when to close the position. It is cash settled and you either lose the $25 or win the difference. However, there is a ‘take profit’ function present. You can enter the profit you wish to make and the position only closed if that amount is reached or when the stop loss level is met. Find out more about the FX/CFD option in our special article.
- iFollow – also known as SpotFollow, lets you copy positions from other traders. Pick a trader, enter a following period, choose an amount you wish to invest per trade and what the limit amount is. The system now does the rest. Exciting? No, a passive way of trading.
FMTrader has some special features. They offer all traders the ‘rollover‘ function. When you are on the losing side with a particular position, you can postpone the expiry. Not for free: it will cost you an extra 30% of the initial investment in that position. On the other hand, when the position will expire in the money afterwards, you receive another 30% payout.
The ‘double up‘ feature is another one we see on a regular basis. WHen you are going well in the trade, you can copy the position and open a new one against the same conditions. But, for the then current price of the asset. This way you can immediately, with a click of a button, leverage on a strong position.
FMTrader Reasons to join
There are hunderds of binary option brokers, and FMTrader is just another one. What makes them so special that you want to sign up with them?
FMTrader has a Trading Academy in which they provide you some things you might not see with other brokers. The FMTrader trading academy has not less than 4 sections with:
- A video course with 7 beginners video’s, 8 advanced video’s and 6 video’s explaining their platform.
- A 50 (!) page eBook important topics like trader’s psychology, tips to trading success, the tools and important techniques.
- A video on demand section with 4 video’s about market analysis, financial management and trading psychology.
- The FMTrader Market Review in which you can read about the latest financial news and market sentiment.
FMTrader Assets to trade
Here is something special to find. FMTrader offer the traders ALL available binary options for Russian companies! Since Russia is very volatile, Russian binary options might be a good value. After all, volatility is what we need in trading binary options. Gazprom, USD/RUB, Oil (light sweet crude) and Russian index RTS can be invested on. Unique feature.
FMTrader supports all major indices, and that includes DAX, CAC, FTSE 100 but also the indices in Turkey, Kuwait, India and Hongkong and many more. To find an overview of the supported underlying assets, please visit this page: fmtrader.com/assetlist.
FMTrader Account Types
When you are a high roller and wish to open an account with a binary option broker with a few thousand dollars/euros, you expect some extra features.
The minimum amount to open an account in (a regular acocunt) is $250. When you are ready to deposit $1000 or more, then you suddenly will get some treats. In the below grid you will vind an overview of the special accounts.
Again: you can open a regular account on fmtrader.com with as little as $250.
FMTrader Review: Conclusion
The trading platform is available in Arabic, English, Russian, Turkish and Italian. The list of countries of which FMTrader accepts traders is not so long: United Kingdom, Italy, Sweden, Russia, Denemark, Turky, Australia, New Zealand, South Africa, Singapore, Arabic GCC countries, Ukraine and Kazahstan.
Would we reccommend this binary option broker? Yes.
FMtrader offer a very wide range of tradable assets and gives a new trader a 100% bonus on the first deposit (your first money doubler!). All major deposit methods are supported and FMtrader is not yet regulated by the Cysec in Cyprus. FMTrader has started the process and expects to be accepted by the Cysec in 2015.
An overview of the not yet mentioned perks of trading with FMTrader
- A user-friendly system – a fully functional platform with intuitive touch screen control to help you manage your account easily.
- Smooth and easy operation – open and close trades with instant execution.
- A complete trade history – including expired options.
- Fully functional help and support features.
- Constant updates on latest market trends – live and dynamic charts to help you understand what is going on in global markets.
- A full access to highly profitable trade types – including exotic options, such as One Touch and 60 seconds.
- Lucrative welcome bonuses to give our new clients significant head start.
- An advanced mobile application.