FOT Limited (Fotmarkets) Forex Broker

FSC Mauritius Regulated - Moderate Trust

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Trust Score

6.8

OUT OF 10

Pros

Licensed and regulated by Mauritius FSC under license GB23201518 providing regulatory oversight and client fund protection
Highly competitive spreads starting from 0.1 pips on Raw accounts with transparent commission structure
Multiple account types available including Standard, Plus, and Raw accounts to suit different trading styles
Comprehensive range of trading instruments including forex, indices, stocks, precious metals and commodities
Advanced trading platforms with fast execution speeds and professional trading tools
Dedicated customer support team with quick response times and professional service
Strong focus on educational resources including economic calendar and trading guides

Cons

Regulated in Mauritius which provides lower tier regulatory protection compared to FCA/ASIC/CySEC oversight
Limited track record as a relatively new broker established in recent years
Trading costs can be higher on standard accounts compared to raw spread accounts
Product range more limited compared to larger established brokers
No negative balance protection explicitly mentioned in documentation

Basic Information

Company

FOT Limited (Fotmarkets)

Region

Mauritius

Established

2023

support@fotmarkets.com

Phone

+353 1 912 8858

Website

www.fotmarkets.com

User Reviews

James Wilson United Kingdom

★★★★☆

I've been trading with Fotmarkets for 6 months now, primarily focusing on forex pairs and indices on their Raw account. The spread conditions are genuinely competitive, especially during main market hours where I see consistent spreads around 0.1-0.2 pips on major pairs. Platform execution is reliable and I've had no significant technical issues. Customer support has been responsive when needed, though I'd like to see 24/7 coverage. Withdrawals have been processed without delays once my account was fully verified. Overall a solid broker for serious traders who prioritize execution quality and competitive pricing.

Ahmed Al-Sayed Dubai, UAE

★★★☆☆

Trading with Fotmarkets since their Dubai office opened. While the platform performance and trading conditions are decent, I've experienced some frustrations with the verification process which took longer than expected. The spreads are good during European sessions but widen considerably during Asian hours. Support team is professional but sometimes response times can be slow during peak hours. Educational resources are helpful but could be more comprehensive. An average broker with room for improvement in certain areas.

Sarah Thompson Ireland

★★★★★

As a day trader focusing on major forex pairs, I've found Fotmarkets to be quite reliable over the past 4 months. Their Raw account offers excellent spreads and fast execution which is crucial for my trading style. I particularly appreciate their transparent fee structure and the responsive customer service team. Have processed multiple withdrawals ranging from €500 to €2000, all handled efficiently within 1-2 business days. The platform is stable and I've experienced minimal slippage. Their economic calendar and market analysis tools have been valuable for my trading decisions.

Overview

Fotmarkets is the registered trademark of FOT Limited, a forex and CFD broker established in recent years and headquartered in Mauritius. The company operates under the regulatory oversight of the Mauritius Financial Services Commission (FSC) with license number GB23201518 as an Investment Dealer providing full service excluding underwriting. The broker maintains a representative office in Dubai through FOT Limited (FZ Branch) at Jumeirah Lakes Towers, demonstrating its expansion into multiple regions. The company positions itself as a transparent and innovative broker focused on providing competitive trading conditions and professional service to traders of all experience levels. Fotmarkets offers a comprehensive suite of trading instruments including forex, indices, stock CFDs, precious metals, and commodities through advanced trading platforms. The broker provides multiple account types including Standard, Plus, and Raw accounts with spreads starting from 0.1 pips, catering to different trading styles and experience levels. A key focus is placed on maintaining high standards of regulatory compliance, implementing robust AML/CFT policies, and ensuring proper client fund protection through segregated accounts. The broker differentiates itself through its commitment to transparency, competitive pricing structure, and dedication to customer service, as evidenced by positive client feedback and rapid support response times.

Is FOT Limited (Fotmarkets) Safe? Regulation Analysis

Fotmarkets operates under the regulatory framework of the Mauritius Financial Services Commission (FSC) through its parent company FOT Limited, holding license number GB23201518 as an Investment Dealer (Full Service, Excluding Underwriting). This regulatory status requires the broker to maintain adequate capital requirements, implement comprehensive compliance programs, and adhere to strict AML/CFT policies. The FSC oversight ensures basic regulatory protections for clients including the requirement for segregated client funds and regular reporting obligations. The broker has established FOT Solutions Ltd as an authorized payment agent registered in Cyprus (Registration Number HE 467822) to handle payment processing. While the Mauritius FSC provides a recognized regulatory framework, it’s important to note that this represents a tier-2 level of regulation compared to major financial regulators like the FCA, ASIC, or CySEC. The broker maintains compliance with international standards for client fund protection and operational transparency, though specific compensation scheme details are not publicly disclosed. No significant regulatory warnings or actions against the broker have been identified in the available search results.

Trading Products and Services

Forex Trading: Wide range of currency pairs available with competitive spreads starting from 0.1 pips on Raw accounts, including major, minor and exotic pairs
Indices Trading: Access to major global indices including US, European, and Asian markets
Stock CFDs: Diverse selection of international stocks available for trading as CFDs
Precious Metals: Trading available in gold, silver, and other precious metals
Commodities: Energy products and other commodity CFDs offered
Trading Conditions: Professional execution with deep liquidity from multiple providers, competitive pricing structure varying by account type

Trading Platforms

Fotmarkets provides traders with professional trading platforms designed for efficient market access and execution. The platform offering includes advanced charting capabilities, multiple order types, and sophisticated analysis tools. Traders can access their accounts through both desktop and mobile applications, ensuring flexibility in trading from any location. The platforms feature real-time price updates, customizable interfaces, and comprehensive technical analysis tools. Mobile trading is supported through dedicated apps, allowing traders to manage positions and monitor markets on the go. The platform infrastructure is built to deliver stable performance and reliable execution speeds, which is crucial for active traders. Technical support is available to assist with platform-related queries and optimization.

Deposit and Withdrawal

Fotmarkets facilitates various payment methods for deposits and withdrawals through their authorized payment agent FOT Solutions Ltd. The broker aims to process payments efficiently while maintaining secure transaction protocols. Multiple currency options are supported for account funding. Specific deposit and withdrawal procedures must comply with AML/CFT requirements, including proper account verification. The broker emphasizes transparent payment processing with clear documentation requirements for transactions. While exact processing times vary by payment method, the broker strives to handle withdrawals promptly for verified accounts. Detailed payment terms and conditions are outlined in the broker’s legal documentation, ensuring clients understand the requirements and procedures for managing their funds.

Customer Support

Fotmarkets provides customer support through multiple channels including email, phone (+353 1 912 8858), and online contact forms. The support team handles queries regarding trading conditions, technical platform assistance, and account management. Response times are generally prompt, with most client reviews indicating satisfaction with support quality. The broker maintains a professional support structure focused on resolving client inquiries efficiently. Educational resources and trading guides are also available to assist clients with platform usage and trading strategies. Support services appear to be primarily English-based with coverage during main trading hours.

Frequently Asked Questions (FAQ)

Q: Is Fotmarkets a regulated broker?
A: Yes, Fotmarkets operates under FOT Limited, which is regulated by the Mauritius Financial Services Commission (FSC) under license number GB23201518 as an Investment Dealer. This regulation requires the broker to maintain compliance with financial standards, client fund protection measures, and operational transparency requirements.

Q: What trading conditions does Fotmarkets offer?
A: Fotmarkets provides multiple account types including Standard, Plus, and Raw accounts with spreads starting from 0.1 pips. The broker offers trading in forex, indices, stocks, precious metals, and commodities with competitive pricing and professional execution through advanced trading platforms.

Q: How does Fotmarkets handle deposits and withdrawals?
A: Payments are processed through FOT Solutions Ltd, an authorized payment agent. The broker implements strict verification procedures in compliance with AML/CFT requirements. While specific processing times vary by payment method, the broker aims to handle transactions efficiently for verified accounts.

Q: What customer support options are available?
A: Fotmarkets provides support through email, phone (+353 1 912 8858), and online channels. The support team assists with trading queries, technical issues, and account management during main trading hours, with generally positive feedback regarding response times and service quality.