FCM Forex Review – The Trading Experience With Fidelis Capital Markets
Fidelis Capital Markets, or more commonly known as FCM, is a Cypriot Investment Firm (CIF) that also has its branch office in Vanuatu. Therefore, FCM Forex is regulated by two distinct regulatory organizations, the Cyprus Securities and Exchange Commission (CySEC) and the Vanuatu Financial Services Commission. Fidelis Capital Markets take pride in the fact that they offer only the ECN/STP Forex brokerage that operates on a No-Dealing Desk (NDD) model for maintaining a ‘no conflict of interest’ policy with its clients.
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Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker, DMA
Platform for trading Forex, analysing financial markets and using expert advisors.
Multi-asset platform for trading Forex and CFDs.
Trade online without downloading any software.
Wire Transfer, Bank Transfer, Credit or Debit Cards, PayPal
Does Fidelis Capital Markets Offer The Finest Protection For Your Trading Capital?
FCM is regulated according to the rigorous standards of the Markets in Financial Instruments Derivatives (MiFID), which is a legal framework created by the European Union for ensuring the safety and integrity of the European financial markets. The MiFID has several guidelines that are aimed to safeguard investors against potential scams or broker malpractices. FCM is also a member of the Investor Compensation Fund (ICF), which guarantees payments of up to €20,000 if a broker is rendered insolvent. Regardless of the broker’s regulatory status with the Vanuatu FSC, traders will be more interested in the regulatory protection offered by the CySEC and its allied European regulators. The MiFID not only creates a legal framework for Forex broker regulation, but it also provides FCM an excellent opportunity to advertise its services to the entire EU through the European Economic Area Agreement. FCM supports making payments to its trading accounts through the highly popular e-wallets in the markets such as Neteller, Skrill, CashU, fasapay, Qiwi, Yandex, UnionPay, and WebMoney. Traders may additionally use their credit/debit cards for payments, or deposit/withdraw funds through Bank Wire. European Forex brokers offer the distinct advantage of holding its clients’ funds in segregated accounts, which is one of the standard norms for all high-quality regulatory organizations from across the world. Such trader funds should also be kept separate from the broker’s operating capital of €1 million, which is the minimum amount of trading capital required for establishing an FX brokerage in Cyprus.
How Do We Rate The Fidelis Capital Markets Trading Accounts?
FCM appears to have created a portfolio of trading accounts that are geared towards different types of traders, but a common feature of all accounts is the fact that all clients receive ECN/STP access as the standard feature. Traders are given the option of choosing from 8 different categories of trading accounts. The cheapest account options are the MINI and the Rookie accounts, which have one of the lowest account deposit requirements of $5 and $10, respectively. Both accounts get access to a maximum FCM leverage of 1:400, but the MINI Account has maximum account equity of $5000 and a cap on the maximum order size of 3 lots. The Rookie account has no such limits, which allows traders to open as much as 100 lots under market conditions. The Mini and Rookie accounts also have the highest FCM spreads of 3 pips, which are not anywhere near competitive enough. In stark contrast, several market maker brokers can offer spreads starting from 1 pip, which does sound far better when compared to the Mini and Rookie account options. The Standard Account does offer more competitive spreads of 1.8 pips, but it is also not the desirable spread for an ECN account. The Standard Account requires a minimum of $1000 trading capital with a maximum limit of $25,000, along with a maximum leverage of 1:200. The Standard Account lot size is also restricted to 20 lots maximum. The Mini and Standard Accounts are free from any form commission on trading. The final commission-free trading account is the VIP account, which quotes ultra-competitive spreads of 1 pip for a minimum deposit of $25,000. The VIP account, as it is known, has a maximum leverage of 1:100, while other VIP conditions offer certain account privileges. However, if you want access to an ECN trading environment, the ECN Classic and the ECN Gold accounts are available for minimum deposits of $1000 and $25,000 respectively. The ECN Classic Account has maximum account equity of $25,000 with a maximum leverage of 1:200, a spread of 0.5 pips, and a commission of $15 round turn. However, it is the ECN Gold account that has the best trading conditions with tight spreads and a $10 commission round turn; albeit with a high trading capital requirement of $25,000 and a 1:100 maximum leverage. The broker also offers additional accounts known as the PRIME and the ELITE, which offers a higher leverage of 1:400 with no maximum account balance limits. The PRIME account requires a $100 deposit, while the ELITE account is the most expensive account that requires an investment of $50,000. The high-end Fidelis Capital Markets trading accounts may not make sense if you are a retail trader, as you may be able to enjoy slightly better trading conditions at other competing brokerage houses for the same amount of capital.
Choose From A Moderate Number Of Forex & CFD Instruments
Fidelis Capital Markets has an average collection of Forex currency pairs and CFDs. FCM clients can invest in more than 60 currency pairs, CFDs, and metals, which are available for trading through the MT4 interface as the primary FCM trading platform. FCM does not have any other trading software, as all trading must be performed through the excellent MT4 terminal. MT4 is a popular trading platform that has more advantages than any disadvantages, which further allows traders to trade on FCM mobile apps through the dedicated iOS and Android MT4 versions. FCM clients may also access the MT4 WebTrader, or if you are looking for the best trading performance, you will find the MT4 desktop version to be the best choice of platform. FCM also has a VPS option that can either be subscribed as a free or paid option according to your account standing. Larger deposits and premium account holders will be able to use the VPS for free, while lower account options may have to pay for the VPS. As a loyal client, you may be eligible for a free VPS option if you transact a minimum trading volume within a trading calendar month. The FCM customer service department should be able to shed more light on your free VPS options. Under the CySEC regulatory framework and MiFID protection, it is easy to see why Fidelis Capital Markets can offer a sustainable Forex trading service that does not have any conflicts of interest. The broker does have a lower capital requirement for some of its accounts, but traders may be confused regarding the choice of accounts and the relatively higher deposit requirements for premium ECN accounts. The spreads are also slightly higher for the smaller account options, which may prevent traders from enjoying a cost-effective trading environment. If you are looking for the best trading option, compare different Forex brokers side by side and open an FCM demo account before opening a real account.