What is EmFxProMarkets?
EmFxProMarkets is a US-based forex broker established in 2022, headquartered in New York. This broker is a privately held company registered in the United States, primarily offering investors financial derivative trading services such as forex, cryptocurrencies, and commodity futures contracts for difference (CFDs). But is it a reliable broker? Investors can read this review article before trading with the platform.
Corporate Background of EmFxProMarkets:
EmFxProMarkets claims to have been registered in the US in 2022 but has not disclosed its corporate entity. The broker's official website mentions its physical office address as 60 Laight St #A, New York, NY 10014 United States, which is the same as that of HobitalOptions, raising doubts among investors. Additionally, the broker's domain was registered on May 6, 2022, less than two years ago.
Is EmFxProMarkets a Legally Regulated Broker?
EmFxProMarkets claims to be regulated by the US Securities and Exchange Commission (SEC) with a regulatory license number GA00569721. However, the US SEC does not have any regulatory record for this broker. The discrepancy between EmFxProMarkets's claimed and actual regulatory status might involve false advertising.
HobitalOptions also claims to be regulated by the US SEC and has provided the same regulatory license number GA00569721. This fact suggests that these two brokers may have used false information to mislead investors. Investors should be aware that when a broker claims to be regulated by a specific regulatory body without corresponding records, it may be a serious warning sign. Investors should remain vigilant and conduct further investigations to prevent potential financial losses.
What Trading Products Does EmFxProMarkets Offer?
EmFxProMarkets offers a variety of trading products, including forex, cryptocurrencies, and commodity futures contracts for difference (CFDs).
Forex trading involves buying and selling different national currencies for profit, while cryptocurrency trading includes mainstream and emerging digital currencies such as Bitcoin and Ethereum. Furthermore, EmFxProMarkets also offers CFDs trading in commodities like gold and crude oil.
The platform does not provide a detailed trading schedule. The forex and commodity futures markets are open around the clock, allowing investors to trade according to their own schedules. However, investors should fully understand each product's characteristics and market rules, as well as related trading times and risk warnings, to develop wise trading strategies.
What Account Types Does EmFxProMarkets Offer?
EmFxProMarkets offers various types of accounts, including STARTER ACCOUNT, BASIC ACCOUNT, BRONZE ACCOUNT, SILVER ACCOUNT, GOLD ACCOUNT, and PLATINUM ACCOUNT.
- The STARTER ACCOUNT requires a minimum deposit of $500, a spread of 3.3 pips, leverages up to 1:300, and provides live chart support;
- The BASIC ACCOUNT requires a minimum deposit of $3,000, the same spread as the STARTER ACCOUNT, but with increased leverage up to 1:500, and offers all available platforms;
- The BRONZE ACCOUNT requires a minimum deposit of $6,000, a spread of 2.2 pips, leverages up to 1:700, and provides all platforms, live chart support, and all educational tools;
- The SILVER ACCOUNT requires a minimum deposit of $20,000, a spread of 1.5 pips, leverages up to 1:1000, and provides all platforms, live chart support, all educational tools, and technical analysis reports;
- The GOLD ACCOUNT requires a minimum deposit of $50,000, a spread of 1.0 pip, leverages up to 1:5000, and provides all platforms, live chart support, all educational tools, technical analysis reports, and market update emails;
- The PLATINUM ACCOUNT requires a minimum deposit of $100,000, a spread of 0.5 pip, leverages up to 1:5000, and provides all platforms, live chart support, all educational tools, technical analysis reports, and market update emails.
What Is the Minimum Deposit for EmFxProMarkets?
EmFxProMarkets offers different types of accounts, including the STARTER ACCOUNT, BASIC ACCOUNT, BRONZE ACCOUNT, SILVER ACCOUNT, GOLD ACCOUNT, and PLATINUM ACCOUNT. The minimum deposit for the STARTER ACCOUNT is $500.
The minimum deposits for other accounts are:
- BASIC ACCOUNT: $3,000
- BRONZE ACCOUNT: $6,000
- SILVER ACCOUNT: $20,000
- GOLD ACCOUNT: $50,000
- PLATINUM ACCOUNT: $100,000
Compared to some traditional brokers, EmFxProMarkets has relatively high minimum deposit requirements, which may limit some investors' choices. For newcomers or those wanting to test the waters, such requirements may seem like a high barrier to entry, increasing the amount of capital needed to enter the market.
Spreads and Leverage at EmFxProMarkets:
EmFxProMarkets offers different spread and leverage settings for various types of accounts. From the STARTER ACCOUNT to the PLATINUM ACCOUNT, as the account type increases, spreads gradually decrease, while leverage shows different variations. For example, for the STARTER ACCOUNT, the spread is 3.3 pips, and the leverage is 1:300, while for the PLATINUM ACCOUNT, the spread drops to 0.5 pips, but the leverage remains at 1:5000.
The maximum leverage provided by EmFxProMarkets is 1:5000, meaning investors can control a larger amount of funds for trading than the actual funds in their account through leverage. Specifically, for every 1 dollar of funds invested, investors can borrow up to 5000 dollars for trading.
This high leverage allows investors to gain greater market exposure and potential profits with relatively small capital. However, high leverage also comes with high risks. Though leverage can amplify profits, it can equally magnify losses, potentially leading to losses exceeding the initial investment.
Therefore, investors need to be cautious when using high leverage and adopt proper risk management strategies, including setting stop-loss orders, controlling position size, and regularly conducting market analysis.
How to Open An Account for EmFxProMarkets?
To open a trading account with EmFxProMarkets, simply visit its official website and click on the registration link to fill out an application form. In the application form, users will need to provide personal information such as their name and contact details. After completing the form, submit the account registration application.
Once the application is approved, the EmFxProMarkets account team will send users the login details and password for their trading account via email. Users can log in to their trading account and start their trading activities.
Trading Software of EmFxProMarkets:
The trading software information for this broker is not transparent. Although the EmFxProMarkets website provides information on trading products and account types, it does not specify the trading software used. Mainstream trading platforms usually offer investors trading software such as MT4 or MT5.
Website Design of EmFxProMarkets:
The website design and content of EmFxProMarkets are highly similar to those of HobitalOptions, suggesting the use of the same website template. This similarity might include layout, colors, fonts, icons, etc. Such a situation could raise doubts among investors about the relationship between these two brokers. Investors should be extra cautious when choosing a broker and are advised to conduct thorough investigations and comparisons to ensure the platform they select is a legally regulated, reputable, and reliable broker.
Customer Support of EmFxProMarkets:
The customer support provided by EmFxProMarkets includes email and a physical address. Users can contact the broker through these two methods for help and support during their trading process.
Conclusion:
EmFxProMarkets is a broker using false regulatory information, and its services in forex, cryptocurrencies, and CFDs trading are not regulated. The broker's website lacks transparency, and information such as trading software, trading hours, and registered address is not disclosed. Moreover, this broker is suspected of using the same website template as HobitalOptions. When considering EmFxProMarkets for trading, investors should remain vigilant and conduct more in-depth investigations and evaluations.
Currently, EmFxProMarkets is marked as "Suspected Fraud" on Traderknows.
