Minimum Deposit: $10
Maximum Leverage: 1:400
My Score: 1.2
Fidelis Capital Markets is a forex and CFD broker offering online trading services. It is alleged that the broker was set up in 2011 at different sources, but I could not confirm it. So he’s not one of the newly established brokers on the forex market. So Fidelis Capital Markets had to have removed some of the problems. Let’s see how FCM performs in this regard.
If you are reading this article, you are probably thinking of opening an account at Fidelis Capital Markets. I would definitely recommend reading this Fidelis Capital Markets review before you open an account. Is Fidelis Capital Markets scam or reliable broker? What types of accounts are offered by the broker and their advantages and disadvantages? What are the trading conditions like spread, minimum deposit, maximum leverage? You can find detailed answers to these questions. If you have any other questions or have experienced a problem with this broker, you can write in the comments section below. You may be sure to respond as soon as possible.
Regulations and Licence
FCM has some problems with regulation. First of all, this broker is introduced as CySEC regulated in many websites. I did research on this subject and saw that in 2013 there was a CySEC license. You can see in the image below.
However, the CySEC license is not mentioned in the information on the official website of the broker. According to the information on the official website, Fidelis Capital Markets is registered and regulated in St Vincent and the Grenadines. The Financial Services Authority (FSA) is the financial authority in this country. However, according to the statement from this institution, no forex license is provided for any broker. Therefore, according to the FSA’s claim, it is forgery to indicate that brokers are FSA licenced.
Based on all this information, I can clearly state that Fidelis Capital Markets is an unlicensed and unregulated broker.
It is very important to work with licensed forex brokers. Because if you encounter a problem during the trading or withdrawing, you will not find an authority to search your rights. That’s why I recommend you to choose reputable and licensed brokers.
Account Types Offered by Tradis Capital Markets
FCM offers 5 different account types: Mini, Rookie, Prime, Elite and Unique. You can view the features of the account types in the table below.
|Account type||Min. deposit||Max. leverage||Spread|
|Rookie Account||$10||1:400||1,6 pips, floating|
|Prime Account||$100||1:400||0,2 pips + commission|
|Elite Account||$2500||1:400||0,2 pips + commission|
|Unique Account||$5000||1:200||0,2 pips + commission|
Maximum leverage for other account types other than Unique account 1: 400. The minimum deposit is $ 10 for a mini account type. However, 0.001 lots called nano lot are not available in this account type. The main difference between account types is the minimum deposit amount. Account types are not created by investor type. I also consider this a negative feature.
In addition, margin call level is 100% and stop out level is 50% in all account types. These levels are above the average of the industry and are very risky for investors. Many investors can not pay attention to this important detail and can experience losses.
I would say average levels for spreads offered by FCM. But there are some confusion about spreads. The spreads mentioned in the official web site are not the same as the spreads we see in the demo account. From this point of view, let’s say the broker does not provide transparent information.
Fidels offers a wide variety of deposit and withdrawal methods. You can use wire transfer and credit cards as well as other brokers. Many popular e-wallet systems are also available. Skrill, Netelleri Webmoney, Qiwi, Fasapay and Yandex are available for withdrawing or funding. My recommendation is to use credit card as the quickest method.