FinmarketsFX has been flagged by Swiss Financial Market Supervisory Authority for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The only good thing about FinmarketsFX is that they remind you why regulation matters. I found them based on a colleague's recommendation. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Automated trading options|Personal attention|Portfolio tracking tools|Regular platform improvements
Cons: Alert system is basic
After spending for a couple of months now trying to make FinmarketsFX 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: No hidden fees|Educational resources
Cons: Slow to add new assets|Desktop app not available on Linux
My withdrawal from FinmarketsFX was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. since I opened my account last year of being strung along.
Pros: Segregated accounts|Stable platform|Easy to use platform
Cons: Minor UI glitches occasionally
Tried to withdraw my funds from FinmarketsFX and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics