Score
FWT Markets
South Africa|5-10 years| https://www.fwtmarkets.com
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Licenses
Single Core
1G
40G
Contact number
+27 (0)12 362 0310
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Broker Information
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Financial Wealth Trading Markets (Pty) Ltd
FWT Markets
South Africa
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
- The South AfricaFSCA regulation (license number: 44133) claimed by this broker is suspected to be clone. Please be aware of the risk!
WikiFX Verification
South Africa| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $150 |
| Minimum Spread | 1.2 pip |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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FWT Markets · Company Summary
Note: FWT Markets' official website: https://www.fwtmarkets.com is currently inaccessible normally.
| FWT Markets Review Summary | |
| Founded | / |
| Registered Country/Region | South Africa |
| Regulation | No Regulation |
| Market Instruments | 50+ forex pairs, CFDs on 11 indices, silver, gold and oil |
| Demo Account | ❌ |
| Leverage | Up to 1:500 |
| Spread | 2.5 pips |
| Trading Platforms | Meta Trader 5 |
| Minimum Deposit | $100 |
| Customer Support | Phone: +27 (0)12 362 0310 |
| Email: support@fwtmarkets.com | |
| Social media | |
Registered in South Africa, FWT Markets is a brokerage company holding a fake license. It claims to offer over 50 forex pairs, CFDs on 11 indices, silver, gold and oil with MT5 platform. However, currently its website can not be visited.
Pros and Cons
| Pros | Cons |
| A wide range of products | Non-functional website |
| Diverse account types | Lack of transparency |
| Multiple customer support channels | No demo accounts |
| Low minimum deposit | Suspicious clone FSCA license |
| Flexible leverage ratios | |
| MT5 platform |
Is FWT Markets Legit?
| Regulatory Authority | Financial Sector Conduct Authority (FSCA) |
| Regulatory Status | Suspicious Clone |
| Regulated by | FSCA |
| Licensed Institution | EZAGA FX (PTY) LTD |
| Licensed Type | Financial Service Corporate |
| Licensed Number | 44133 |
At present, FWT Markets holds a fake license. The licensed institution is EZAGA FX (PTY) LTD, while the broker's name is FWT Markets. We advise you to choose regulated brokers.
What Can I Trade on FWT Markets?
FWT Markets claims to offer 50+ forex pairs, many of which exotic or minor like USD/HKD, USD/ILS, USD/MXN, USD/PLN, USD/RUB, USD/SGD, USD/SEK, USD/TRY and USD/ZAR, as well as CFDs on 11 indices, silver, gold and oil. Nevertheless, due to the inaccessible website, these products may not be tradable.
| Tradable Instruments | Supported |
| Forex | ✔ |
| CFDs | ✔ |
| Commodities (silver, gold and oil) | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ❌ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
FWT Markets provides three account types: Mini Account, Standard Account, and ECN Account. The minimum deposit requirement is $100 for the Mini Account.
| Account Type | Min. Deposit |
| Mini | $100 |
| Standard | $150 |
| ECN | $500 |
Leverage
The Mini Account holds a maximum leverage up to 1:500, while the Standard Account and the ECN Account hold a lower leverage of 1:200.However, please note that high leverage can bring both great profits and big losses.
| Account Type | Max. Leverage |
| Mini | 1:500 |
| Standard | 1:200 |
| ECN | 1:200 |
Spreads & Commission
Mini Account and Standard Account both have a spread of 2.5 pips.
The ECN Account has a raw spread plus $3/lot.
| Account Type | Spread | Commission |
| Mini | 2.5 pips | ❌ |
| Standard | 2.5 pips | ❌ |
| ECN | raw spread + $3/lot | $3/lot |
Trading Platform
FWT Markets offers MetaTrader5 for clients. MT5 is an industry-leading trading platform which is sound for experienced traders. However, this pro can be doubted by the company's inaccessible official website.
Deposit and Withdrawal
FWT Markets supports payment methods through VISA, MasterCard, Neteller, Skrill and wire transfer.
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