FM-FX has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: +442080680485, +61412345678 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.fm-fx.com.
My withdrawal from FM-FX 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. for the past six months of being strung along.
Pros: Dedicated account manager|Market news feed|Educational resources|Fast execution
Cons: Live chat only during business hours
I joined FM-FX after a family member had a good experience and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Copy trading available|Easy withdrawals|Customizable dashboard|Excellent charting
Cons: Limited cryptocurrency options
Do not be fooled by the professional-looking website. Behind the scenes, FM-FX is disorganized and incompetent. I found them after doing extensive research and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Good analytical tools|No hidden fees|Multiple order types
Cons: Wait times can be long during peak hours|Alert system is basic
The mobile app from FM-FX is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Easy to use platform|Multi-device support|Multi-currency support|Multiple order types
Cons: Website design could be more modern
The reporting at FM-FX is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Two-factor authentication|Full transparency
Cons: Limited cryptocurrency options
I requested my data from FM-FX under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Transparent fees|Two-factor authentication
Cons: Would like more payment methods|No dark mode on mobile