Register and regulated by one of the strictest financial regulators in the world, this broker follows a legal directive that ensures the safety of customers. The company has a reputation of a well established business that’s thriving to allow users with all knowledge levels to profit on financial markets.
Keep reading this FairMarkets review to find out everything about this brokerage offer and how to keep safe when venturing into the complex Forex ecosystem.
| Regulated by: | ASIC |
| Is This Company Safe? | As far as legal compliance goes, this company can be considered safe. |
| Known Websites: | fair.markets |
| Have Warnings from: | N/A |
| Registered in: | Australia |
| Operating since: | 2018 |
| Trading Platforms: | MT4, MT5 |
| Maximum Leverage: | 1:30 (retail) 1:500 (professional) |
| Minimum Deposit: | $1 |
| Deposit Bonus: | No |
| Trading Assets: | Forex, Indices CFDs, Commodities, Crypto |
| Free Demo Account: | Available |
| How to Withdraw from This Company? | Standard withdrawal procedure is outlined and explained on the site. However, if you have issues with payouts, contact us without delay. |
Aussie Stamp of Approval
The FairMarkets regulation is impeccable. Trading environment is supervised by the leading Australian regulatory body – ASIC. Trive Financial Services Australia Pty Ltd. was established and licensed in 2012, although their trading brand we’re reviewing today was first launched in 2018.
Besides the operational capital and additional regulatory measures concerning transparency and AML standard has to be implemented, the broker also guards their clients’ funds. That is possible through segregation of investments, risk-reducing measures and other strategies. Such a firm is far safer than offshore regulated entities like GMI Markets.
Long Time In Business
While the company dates back to 2012, it did not use the fair.markets domain we see today until 2018. With multiple awards in the bag, the service has become quite popular over the years.
Most of the clients are from these countries:
- Singapore
- United Arab Emirates
- United States
Regardless of the quality of service, the FairMarkets broker would not gain the client loyalty it enjoys today without a good dose of advertising. It can be found on all popular social media, including Facebook, Instagram, X and YouTube, with additional business related info available on LinkedIn.
Insignificant Number of Reviews
Interestingly enough, the company doesn’t seem to have a lot going on when it comes to different ratings platforms. FairMarkets reviews can only be found on TrustPilot, and there’s less than 10 of them at the moment of writing this review.
The overall score is 3.6, but given the small sample this statistic doesn’t say much. Considering how old the company is, this situation doesn’t instill much confidence. Feel free to contact us if you suspect any foul play from this firm, or if you’ve become a victim of an online scam like Summitrade.
Trading Terms are Within Limits
The maximum leverage allowed on this platform is 1:30. Professional traders, however, can access premium leverage of up to 1:500 if they meet the criteria.
Other FairMarkets trading conditions are in the standard range compared to other prominent financial services providers. For example, starting spreads on EUR/USD for standard clients is between 0.4 and 0.8 pips, while Australian clients get exclusive access to 0.0 pips and $0 trading commissions.
Solid Performance and Range of Tools
A regulated platform that offers trading on MT4 and MT5 live servers is always well received. Furthermore, there’s specialized accounts for retail and professional traders that prove their skill. Lastly, the choice of instruments is average but lacks some of the most popular assets. Let’s review each of these aspects separately.
Industry Leading Platforms Offered
No retail or professional trader has managed to build their career as a trader on a software that isn’t an advanced and sophisticated solution. The FairMarkets MetaTrader platforms are available in all forms – as web terminals, desktop traders and mobile apps.
Reliable, fast and rich in options and extra tools, these trading terminals are known to be almost every traders favorite. Whatever your experience level, you will surely learn, grow and profit thanks to this software.
Mobile Trading App in Online Stores
As previously noted, the FairMarkets app is available in several versions. Therefore the broker has linked the downloads for MT4 to App Store and Google Play. For those that rather prefer the newer and more advanced MT5, they can also find it for iOS and Android devices.
Limited Asset Choice
If we were to compare the richness of the instruments palette available on this site with other major brokerage firms, it would certainly come off as inferior. Here is a list of available groups of tradable products:
- Forex – EUR/USD, EUR/AUD, USD/AUD
- Indices CFDs – S&P 500, DAX30, Dow Jones
- Commodities – gold, silver, oil, energy goods
- Crypto – BTC, ETH, XRP
Differences Between Accounts
After creating your personal FairMarkets login credentials, you can choose to buy one of these packages:
- Aussie Premium – no minimum deposit
- Standard – no minimum deposit
- Pro
Now, as an Australian brokerage, it is only expected the firm to provide a special treatment for their most common customers. The account designed for their domestic traders offers some most commonly traded instruments on their markets with amiable trading conditions.
In order to unlock a Pro account, registrants have to pass a knowledge quiz, provide proof of holding significant funds and have some previous experience in trading.
Trial Trading Accounts
With a virtual margin of $100.000, traders are enabled to test the trading environment for a limited time. Simulated trading environment, however, doesn’t reflect real market conditions. Therefore, beware of being led into investing by the attractiveness of easy Demo earning.
Withdrawal Options
One of the complaints we have about the firm is the lack of a separate document outlining the withdrawal policy. As for the financial channels, the broker accepts payments via bank cards, bank wire transfers and e-wallets. The channels for FairMarkets withdrawal, however, lack the e-wallet option.
Withdrawals are processed automatically, and may incur some fees depending on your preferred method. Bank wires cost AU$25 and US$40 for Australian domestic and foreign clients respectively. Bank card payouts are free of charge, and only include the 3rd party fees applied by the banking institution.
Limited Support
The company may be reached via email or phone. Live chat, however, is absent from the service, and the company does not clearly outline their support work hours.
Clients may also use the physical mail option, or opt to submit a ticket using a contact form, but these methods won’t yield a prompt response. For these reasons, we consider customer support subpar when compared to competitors.
Good Regulation But Far From Perfect
This company may be well regulated, but lacks in some areas of business. While this is nothing earth shattering, the firm does tend to be less transparent with some information. Support channels are lackluster, and the firm completely omits trading education. All these factors combined make it less suited for the rookies.
If you believe you’ve misled into investing with this service, feel free to contact our experts. We can help you recover your investment through a chargeback procedure.
FAQ Section
What is FairMarkets?
It is an Australian online brokerage that caters to both domestic and international clients.
Is FairMarkets Legit?
Yes, the firm is legally registered and is licensed by one of the strictest financial regulators on the globe.
How to Withdraw Profits From My FairMarkets Account?
Use the withdrawal option in the client area, or contact customer support. If you believe your requests were denied for no reason, contact our chargeback experts.
Source:
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