Financial Markets Alliance Inc (FMAI) has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: 1 6646 652 04 36, fax 1 646 786 47 67
Addresses: 220 Madison Avenue New York NY 10016 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.fima-inc.com.
After for about five months with Financial Markets Alliance Inc (FMAI) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: No hidden fees|Multi-device support
Cons: Currency conversion fee exists
My withdrawal request from Financial Markets Alliance Inc (FMAI) has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Dedicated account manager|Social trading features|Copy trading available
Cons: Desktop app not available on Linux
What really bothers me about Financial Markets Alliance Inc (FMAI) is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them through my accountant's suggestion and I fell for the polished exterior. Never again.
Pros: Clean UI|Professional team|Real-time alerts|Responsive team
Cons: Alert system is basic|Minor UI glitches occasionally
I gave Financial Markets Alliance Inc (FMAI) a fair chance. After for just over a year of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Stable platform|Tax reports included|Wide product range|Instant funding
Cons: No fractional shares
After spending since I retired last year trying to make Financial Markets Alliance Inc (FMAI) work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Stable platform|Tax reports included|Intuitive for beginners|Instant funding
Cons: Live chat only during business hours
I had a dispute with Financial Markets Alliance Inc (FMAI) and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Clear documentation|Clean UI|Segregated accounts
Cons: Onboarding videos are outdated
The spread at Financial Markets Alliance Inc (FMAI) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after seeing their ad online and initially thought the platform was good - until I started trading seriously.
Pros: Regular platform improvements|Wide product range|Easy to use platform|Tax reports included
Cons: Some tools only available on higher tiers|Desktop app not available on Linux