Fullmarkets

We quite liked Fullmarkets at the starting point, yet our expectations were quickly turned on their head as soon as we started exploring the broker in detail. It turns out that there is nothing worth of value here. The visuals are used as a facade to block out the scammer elements that this broker is overflowing with.

There isn't much to be said about the broker's registration or regulation. Both are indicative of the true nature of Fullmarkets.

These two pieces of, usually, separate information coalesce into one: an alleged address in UK accompanied by a claim that Fullmarkets is registered there. Unfortunately, there is absolutely no proof of any of this. What we mean is that there is no proof that the broker is registered in the UK, a suggestion that implies that Fullmarkets is regulated in the UK. Actually, it isn't.

And furthermore, Fullmarkets is blacklisted by Italy's CONSOB, which ferments the brokers as an unlicensed entity and a scam!

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

We tried to open a Standard account but nothing happened. Once we completed the registration form and clicked on the “continue” button, the broker simply refreshed the site without any indication of what had happened. After a couple of additional tries, we gave up for the whole ordeal persisted.

Before we move on to what the website has to offer, we have to say that unregulated brokers tend to deceive with the trading information. Meaning that there is no guarantee that what we are about to reveal is remotely close to the truth.

So, the alleged available trading assets are forex currency pairs, commodities, indices, shares, cryptocurrencies, and ETFs. The leverage value is actually confusing. At one point is says that the leverage is capped at 1:300, and on the next it claims it to be 1:500.
Furthermore, we were not able to trace a specific EUR/USD cost of trade. The average one is said to be 0.8 pips, but we cannot be certain of it.

FULLMARKETS LOGIN

Fullmarkets does something that many others have done before it. It advertises an MT4 and the MT5 but does not provide any download links. This begs the question as to the actual availability of these two powerhouse softwares.

The inability to register, coupled with the seemingly false advertisement of the Metatraders makes us think that the broker offers some completely different softwares, perhaps even a common web trader.

But as of now, we do not know. It seems that we never will.

FULLMARKETS MINIMUM DEPOSIT

All deposits are at a risk with any unregulated broker, not just Fullmarkets.

According to the website, the minimum deposit is €250, although we cannot be sure of this nor of the rest of the payment information.

The website mentions that credit cards, debit cards, wire transfers, and perhaps certain e-wallets are available as deposit methods.

Nothing is set in stone, and the broker is not reliable with any of the payment conditions.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

FULLMARKETS WITHDRAW TIME AND FEES

Unregulated brokers are known to stall and cancel withdrawal requests because investments are their livelihood.

All the withdrawal details were not enough, and what we got was not satisfactory. But we have to take what we have.

And, what we learn is that, first of all, the typical processing time for withdrawals is between 2 to 5 days.

Moreover, withdrawals are subjected to processing and handling fees, yet the fees have not been disclosed, which makes these charges even more dangerous because the broker can make them up on the fly.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

Fullmarkets does not serve you, and in fact, thinks only of its own profits. All investments here will be lost and users will have a very hard time getting them back.