Overview of POE Market
POE Market is a China-based Forex trading platform, founded in 2023, that provides a variety of financial instruments including currency pairs, commodities, and indices. While it operates without the oversight of a financial regulatory authority, the platform offers an accessible MT5 trading platform across different devices, supports a wide range of banks for deposits, and furnishes users with educational resources like tutorials and webinars, as well as a simulated trading environment for practice.
Is POE Market Legit？
POE Market is not regulated by any recognized financial regulatory authority. As an unregulated broker, it operates without oversight from regulatory bodies that are responsible for ensuring compliance with industry standards and protecting the interests of traders. This lack of regulation raises concerns about the safety and security of funds, as well as the transparency of the broker's business practices.
Pros and Cons
POE Market emerges as a versatile Forex trading platform, boasting a wide array of tradable instruments and an accessible MT5 trading platform that appeals to a diverse trader demographic. Additionally, the inclusion of robust educational resources and a simulation environment is a commendable feature, aimed at enhancing the skills of its users. However, the absence of regulatory oversight casts a shadow on its credibility, raising concerns over the security of funds and the transparency of its trading operations.
Products and Services
POE Market's product offerings include Forex trading for major, minor, and exotic currency pairs such as EUR/USD, GBP/USD, AUD/USD, as well as commodities like soybean and cotton contracts, with detailed costs and trading precision. They also provide trading for precious metals such as gold and silver, oil products, and an index labeled 'HKGT', each with specified transaction fees and value per point.
Here is a comparison table of trading instruments offered by different brokers:
How to Open an Account
To open an account with POE Market, follow these steps.
Visit the POE Market website. Look for the “account registration” button on the homepage and click on it.
Look for the “Create real account” button on the homepage and click on it.
Sign up on websites registration page.
Receive your personal account login from an automated email
Log in
Proceed to deposit funds to your account
Download the platform and start trading
Fees
POE Market charges overnight interest, or swap rate, on Forex positions held open past the daily settlement time. This interest can be positive or negative, depending on the interest rate differential between the two currencies involved in the trade and the dealer's fee. The overnight interest is calculated based on the contract size, the pair's price, the interest rate differential, market conditions, and the dealer's fee, and is typically expressed as an annual percentage rate divided over 360 days.
Trading Platforms
POE Market offers the MT5 trading platform, which features system and trade alerts, supports various time-frame charts, allows two-way trading for potential profits, and is compatible with PC, iOS, and Android devices. The platform also supports automated trading through Expert Advisors (EAs).
Deposit & Withdrawal
POE Market allows deposit methods from all banks, with the daily limit dependent on individual bank policies. Withdrawals can be made through their official website by selecting the 'Withdraw' option, specifying the amount, and providing bank account details.
Customer Support
POE Market's customer support can be contacted via email at support@poemarketltd.com.
POE Market official website is available in multiple languages including German (Deutsch), English, French (français), Japanese , Korean (한국인), Russian (русский), Thai (ไทย), Vietnamese (Tiếng Việt), and Chinese (Simplified and Traditional).
Educational Resources
POE Market provides educational resources including a free information section on Forex, video tutorials, and free webinars, along with a simulated trading environment for practice.
Conclusion
POE Market offers an extensive range of trading options, including various currencies, commodities, and indices, accessible through the widely-used MT5 platform. It caters to both novice and experienced traders with educational materials and a demo trading environment. However, the lack of regulation is a significant drawback, as it raises questions about fund security and the integrity of trading practices. Prospective users must weigh the comprehensive trading facilities against the potential risks associated with unregulated platforms.
FAQs
Q: Is there any oversight authority regulating POE Market？
A: No, POE Market does not fall under the purview of any recognized financial regulatory body.
Q: What types of financial instruments can I trade on POE Market？
A: You can trade a wide selection of financial instruments on POE Market, including several currency pairs, commodities, precious metals, oil, and indices.
Q: Does POE Market provide any tools for beginners to learn trading？
A: Yes, POE Market offers educational tools such as informational materials on Forex, video lessons, and webinars to help beginners understand trading.
Q: What platform can I use to execute trades with POE Market？
A: You can execute trades using the MetaTrader 5 (MT5) platform on POE Market, which is available on various devices.
Q: How can I fund my POE Market trading account？
A: You can fund your trading account using any bank as POE Market supports a broad array of banking institutions for deposits.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
