Beware! Fullerton Markets is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Fullerton Markets is a broker that is currently offshore but used to be regulated by a reputable financial authority before moving its business elsewhere. Their offer will surely be attractive to many – low minimum deposits, tight spreads, access to high leverage, great platforms, and attractive bonuses – Fullerton Markets seems to have it all. However, we can never ignore the lack of license. Moreover, the absence of educational materials and the low number of trading instruments did not leave us impressed.
If you want to learn more and see if this is the broker for you, read the review below:
Fullerton Markets REGULATION AND SAFETY OF FUNDS
Fullerton Markets used to be a New Zealand-based broker regulated by the local Financial Markets Authority (FMA) but has since moved its registration to St. Vincent and the Grenadines, and is no longer licensed in New Zealand. Even before that change of location, the broker had some problems with the FMA and has received certain warnings – mostly connected to the fact that Fullerton Markets did not have adequate risk assessment and failed to identify certain clients as politically important persons.
The current home of the broker, St. Vincent and the Grenadines, has a financial authority that does not regulate forex brokers, or issue licenses for them. That is the reason why so many scammers have set up companies there. Although that might not be the case with Fullerton Markets, the broker certainly has some specs on its reputation due to the FMA warnings – but in St. Vincent and the Grenadines, they would not have to worry about complying with such strict laws. However, even though they are not obligated by law to do so, Fullerton Markets keep client money in segregated accounts and keep separate records of client funds in their accounting system.
However, we would still advise you to turn to a thoroughly regulated EU, UK, or Australian broker. Not only do such brokers keep client money in segregated accounts, but they also have to provide negative balance protection – so you could never lose more money than you have in your account. Additionally, they have to hold a certain minimum operational capital to prove their financial stability – A$1 million in Australia and €730 000 in the UK and the EU. Here are some great options for brokers with a prestigious license:
Fullerton Markets TRADING SOFTWARE
Fullerton Markets offers accounts on the two platforms that are currently dominating the world of trading – MetaTrader 4 and MetaTrader 5. These are, without a doubt, two very intuitive, user-friendly, and yet highly functional platforms that allow advanced charting and analysis and provide access to a number of technical indicators – 30 on MT4, 38 on MT5 – timeframes – 9 and 21 respectively – and pending order types. You would be able to use Expert Advisors or create your own trading bots and indicators on both platforms, as well as set signals or subscribe to those set by others. MT5 also comes with a built-in economic calendar.
Which platform you choose depends mostly on your preferences and purposes. While MT4 is more suitable for beginners, MT5 provides access to a wider range of markets, and offers some additional features like netting, for example:
If you are looking for alternatives for brokers who offer both MT4 and MT5, check out these great options:
Fullerton Markets also offers access to their own copy-trading solution – CopyPip – which allows you to copy the trades of others – Strategy Providers. You would then cash in when your Strategy Provider does, and be charged a default 20% performance fee.
Fullerton Markets TRADING CONDITIONS
Fullerton Markets offers access to the following markets – forex, metals, indices, crude oil, cryptocurrencies, and stocks. However, there is not a great variety of instruments – only 11 currency pairs, 8 indices, and around 60 stocks, and when the broker says metals, it means gold and silver only. The cryptocurrencies you would be able to trade are Bitcoin, Ethereum, Cardano, XRP, Dogecoin, Stellar, Litecoin, and Polkadot – again, a quite limited number.
There is also no variety when it comes to account types. Clients can open only one kind of account but have the option to choose between Variable Spreads or ECN. The minimum deposit in both cases is the same – just $100 – which is in line with what most top brokers would offer you.
The leverage Fullerton Markets offers varies depending on what asset you are trading, and your equity. For example, you can only trade crypto with leverage of up to 1:5 but that number could go up to 1:500 if you are trading a less volatile asset like forex. Even then, you could only go up to 1:500 if you have less than $3000 in your account. Below, you can see the maximum leverage rate you could get depending on your equity:
|1:10-1:500||up to $3000|
|1:10-1:400||up to $7 500|
|1:10-1:300||up to $ 15 000|
|1:10-1:200||up to$ 25 000|
|1:10-1:100||above $25 000|
This is actually quite high and might be tempting – but we would always advise you to be careful with leverage settings since trading with such high leverage could lead both to huge profits, and to huge losses.
Spreads on the ECN account could be as low as 0.1 pips but you would have to pay an additional commission of $10 per lot. There are no commissions for variable spread accounts – those are added directly to the spread which on EURUSD is supposed to start from 0.3 pips. However, because of some website malfunction, we were not allowed to open a demo account and see what exactly the spreads are.
If you are looking for other brokers who would only ask for a little amount of money to open an account, and offer all-around great trading conditions, here are some alternatives:
Fullerton Markets BONUSES AND PROMOTIONS
As an offshore broker, Fullerton Markets is free to offer different bonuses and promotions to clients, as well as the chance for you to participate in trading competitions. All the bonuses, however, are limited offers so you would have to check the broker’s website to see what they are offering at the specific moment. All bonuses are not subject to trading volume requirements and are not available for withdrawal – they are just meant to increase your trading capacity. You would, however, always have access to your deposits and profits.
Right now, for example, Fullerton Markets is offering a level-up bonus – for every $10 000 you deposit, you would get a different bonus percentage varying between 5% and 20%. After you have deposited more than $50 000, you would be getting a fixed $10 000 bonus.
Fullerton Markets DEPOSIT/WITHDRAWAL METHODS AND FEES
Fullerton Markets offers a huge variety of options for deposing and withdrawing funds. Clients could deposit using a credit card, Stickpay, bank transfer, e-wallets like Neteller, Skrill, and FasaPay, cryptocurrencies (Bitcoin, Ethereum, Ripple) as well as different local payments solutions for some countries (Vietnam, Malaysia, China, Thailand, Indonesia, Philipines, Laos, India, Myanmar, and Cambodia). Be sure to check the broker’s website if you want to find out more about those local payments.
Fullerton Markets covers deposit and withdrawal fees on most payments. The exceptions are wire transfers – only deposit fees are covered – and cryptocurrency payments are subject to an exchange rate of between 2% and 4% is charged.
The minimum deposit and withdrawal amounts vary on different payment methods – $100 minimum deposit on card, e-wallet, Stickpay, and cryptocurrency payment, and local payment solutions, and $200 on bank transfers. There are no withdrawal restrictions on withdrawals made with a credit card or Stickpay – amounts vary on other payment methods.
The broker accepts a USD, EUR, SGD on almost all payments solutions, plus NZD on bank transfers.
|Payment Solution||Fees||Minimum deposit amount||Minimum withdrawal amount||Currencies|
|Credit card||100% covered||$100||No restrictions||USD, EUR, SGD|
|Bank transfer||no deposit fee, withdrawal fees may vary||$100||$200||USD, EUR, SGD, NZD|
|E-wallets (Skrill, Neteller, FasaPay)||100% covered||$100||No restrictions||USD, EUR, SGD|
|Stickpay||100% covered||$100||No restrictions||USD, EUR, SGD|
|Cryptocurrencies||2%-4% exchange rate fee||$100||$100 for Bitcoin||USD, EUR, SGD|
Standard inactivity is charged after six months of no trading activity – $5.
Fullerton Markets is an affordable broker with more than decent conditions that offer a variety of payment methods, state-of-the-art trading software, and attractive bonuses. However, this is still a company that is currently not regulated which means you would not get access to the same protections licensed brokers could promise. Moreover, there is not a huge variety of trading instruments and account types which might put some clients off.