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Fidelis Capital Markets

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. Which means the brokers have spent quite some time in the market.

It also means 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 a scam or a 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, and 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.

One thing is set for sure, confusing information on the website of any broker is a big red flag that something isn’t quite right.

While it is mentioned that Fidelis forex is regulated through:

  • Fidelis Capital International Markets is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number GB19024708
  • Fidelis Capital Markets Limited is registered by FSA, St. Vincent and the Grenadines with Number 24163 IBC 2017.

While on different parts of the website, it’s written that the broker is regulated via CySec (with Regn. # 208/13) and registered with the FCA under MiFID. Yet, while checking the website of the financial regulator, CySec, there was no info found about having grated any kinds of licenses to Fidelis forex.

FCM has some problems with regulation. First of all, this broker is introduced as CySEC regulated on many websites. I did research on this subject and saw that in 2013 there was a CySEC license. You can see this in the image below.

fidelis capital markets scam

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 a 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 withdrawal, you will not find an authority to search for your rights. That’s why I recommend you choose reputable and licensed brokers.

Click to See a List of FCA Regulated and Reputable Forex Brokers and Reviews

Fidelis forex offers 6 different account types each directed and targeting a different class of traders in the market. These accounts types include:

The Mini account

With a minimum deposit of $10 and no limit for a maximum deposit amount, you can trade in the mini account with a leverage of 1:400. No commissions are applied on trading forex and metals and a commission of $12.5 is applied on trading CFDs. An Islamic account is optional via the mini account

The Rookie account

The minimum deposit for this account type is a bit higher to reach $50. A maximum leverage of 1:400 is offered and no commissions are applied on trading forex and gold. A commission of $7.5 on silver trading and the same amount of commission is applied to CFDs trading. The availability of Islamic swap-free accounts is an option for clients who would like to have such an account.

The Prime account

A minimum deposit of $100 is offered where leverage of 1:400 is possible. The commission is the main highlight with this account type where you get $3 on forex trading as a commission, you can have $4.5 on both metals and CFD trading.

The Hero account

The minimum deposit seems to be the same as the one offered at the Prime account, of $100. The leverage, on the other hand, is different here to reach 1:200. No commission is added on any trading instruments. Yet a trading fee is applied of a $2 flat fee. No option for choosing a swap-free Islamic account when you trade with the hero account.

The Elite account

A minimum deposit of $5000where leverage of 1:400 is allowed. NO trade fee is applied yet the commission is added on forex trading to reach 2.5% and the commission for trading metals and CFDs is $4. You can have the swap-free Islamic account opened within trading with the elite account.

The Unique account

With $10000 as a minimum deposit, leverage of 1:200 is offered to clients trading with this account. No trading fees are applied and a commission of $1.25 is fixed on trading forex, metals and CFDs. You cant have the option for an Islamic account with this account type.

All account types, except for the hero account, can be used on the MT4 platform, MT4 mobile and MT4 iMac. And all account types, except for the Unique account, can be used on MT5, MT5 mobile and MT5 iMac.

All account types share the same base currency, which is the USD all through the account. The margin call and the stop-out levels are common across all accounts to reach 100% for the margin call and 50% for the stop-out level.

The thing about Fidelis capital markets is that they’re following a no-fee policy on deposits that starts from $5000. Which is quite a big amount to be added as one go. Maybe for expert traders and forex professionals, it can take place, but for beginners of forex, it’s quite a lot of money.

Very limited options are offered for deposits and withdrawals which I find to be a major disadvantage to be mentioned in this Fidelis capital markets review.

  • Bank transfer
  • Skrill
  • credit and debit cards ( visa)

The base currency for deposits and withdrawals is USD, and all channels have a minimum deposit amount of $5. Only bank transfers and Skrill are used for withdrawals yet no withdrawals are available via credit or debit cards.

No commissions are applied on deposits and withdrawals except for any bank charges that can apply in case of deposits with less than $5000. All means of funding are having a maximum of 1 working day to process the transaction. And for withdrawals, you can have the funds back via bank transfer within 3-5 business days and you can have the withdrawal processed via Skrill within the same day.

The trading tools offered by Fidelis forex are limited compared to all other brokers in the market with way more options to add to your trading portfolio. Another disadvantage to be noted in this Fidelis capital markets review.

Forex: you can trade with 623 currency pairs ranging from majors and minors and crosses. Superior professional services and instant order execution are available for you to have when trading forex.

Metals: Gold and silver are the precious metals that are provided for trading with Fidelis forex as they represent a safe haven for traders who would like to diversify their trading accounts and allow them to trade on both the rising and the fall of prices.

CFDs: include shares, indices, commodities, and ETFs. NASDAQ cash, DAXcash, and NIKKEIcash are examples of the available indices, In addition to the ability to trade energies within the CFDs that include USoil, UK Oil, and natural gas.

One Good thing about Fidelis capital markets is that it’s supporting the forex markets, the most popular and in-demand trading platform that’s considered the most favourable trading platform for forex and CFDs traders, which is the MT4 and its next-gen successor MT5, in which both were developed by the same mother company, MetaQuotes and have dee known ever since.

MetaTrader 4 is an extensively equipped trading platform that allows trading in financial markets and provides the trader with the necessary tools and resources to analyze price developments and trends of financial instruments, take investment decisions, and create and use Expert Advisors (Automated Trading).

MT5 provides you with direct market access and straight-through processing. Additionally, due to solid relationships with liquidity providers, the broker is providing you with the lowest spreads starting from 0.0 pips on EURUSD. Since MT5 servers are co-located with banks you receive fast

MT4 and MT5 are provided on the web trader, Mobile phones and iMac.

There are some advantages and disadvantages that can be mentioned about Fidelis capital markets, which leaves the final decision to you to decide to trade with the broker or not, But I am to give you a piece of advice I’d go for choosing a different forex broker to trade and invest your funds with.

Fidelis forex is offering a good variety of trading accounts with a minimum deposit of $10 and a maximum leverage offered of 1:400. Yet the deposit and withdrawal methods are extremely scarce, not to mention the reviews of clients about extremely slow processing of the funds, some have even mentioned that they didn’t get their profits at all.

Another thing of a disadvantageous nature to be mentioned in this Fidelis capital markets review is the limitation of the trading instruments and the absence of a demo account that allows trades to test the broker before actually funding the real accounts.

Even though the broker is supporting the most popular platforms for trading in the forex market, it doesn’t seem to be sufficient as no other options are offered. The regulation of the broker is given by weak organizations and the claims of the broker to have extra regulation by CySec seems to be a scam used to fool the traders to invest and then they won’t be able to take their money back. I advise you to think twice before trading with Fidelis forex and choose a better broker from the list with more trusted brokers with even lower minimum deposits.

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