Fidelis CM Review – Is Fidelis CM Legit or a Scam?
Fidelis CM operates as a forex brokerage based in St. Vincent and the Grenadines. This offshore broker offers traders access to the MT4 platform along with an exceptionally generous leverage option of up to 1:400. Furthermore, Fidelis CM boasts a diverse array of trading products for investors to select from, accompanied by a competitive spread of just 0.9 pips on EUR/USD, significantly undercutting the industry average. Remarkably, this broker also maintains an incredibly low minimum deposit requirement of just $5, providing traders with a highly favorable entry point into the market.
Read a detailed Fidelis CM review to know more about this broker.
Website – https://fideliscm.com/
Address – Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines
Regulation – Unregulated
Warned By – Not recommended by review website like IOTSPYNET
Domain Age –
| Domain Name | fideliscm.com |
|---|---|
| Date Registered | May 11, 2011 |
| Domain Age | 12 years, 4 months, 21 days, 54 minutes |
Ownership and Regulatory Claims
It is important to know that Fidelis Capital Markets Limited, a St. Vincent and the Grenadines-registered firm, is allegedly the owner and operator of the brokerage according to its website. It claims to be under local Financial Services Authority (FSA) regulation. It is commonly accepted, however, that the SVG government does not include binary options and forex trading in its regulatory jurisdiction. The brokerage seems to be trying to deceive novice traders with its claims of regulation. There is no legal regulation of the broker, and prospective clients could be subjected to a variety of risks.
Variable Spreads
FCM Forex offers floating spreads, which can vary depending on the type of account chosen. Spreads range from as low as 0.5 pips to 3 pips on EUR/USD. However, it’s important to note that the Standard commission-free account typically incurs an average spread of 1.8 pips on EUR/USD, which is comparatively higher within the forex market.
Withdrawal
FCM Forex, while offering a range of trading opportunities, comes with some notable considerations for traders. Depositors should be aware of potential bank fees for deposits below $5,000, which could impact the cost of funding their accounts. Additionally, it’s crucial to note that certain currencies may not permit withdrawals, limiting the flexibility of traders who operate in those currencies.
Furthermore, the commissions associated with deposits and withdrawals can vary depending on the chosen payment method, which underscores the importance of carefully evaluating the costs associated with different transaction options. These factors highlight the need for thorough research and consideration when engaging with FCM Forex to ensure a well-informed and cost-effective trading experience.
Fidelis CM Review Conclusion
In conclusion, making informed decisions in the realm of online trading is paramount. While Fidelis CM and similar brokerage firms may offer enticing features, prospective clients must take the initiative to conduct thorough research and due diligence. Tailoring the choice of a brokerage firm to one’s specific trading needs and preferences is essential for a successful and secure trading journey. By doing so, investors can mitigate risks, make well-informed choices, and ultimately optimize their trading experience while safeguarding their financial interests.
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