FMS Traders Review

In this FMS Traders review we will outline all the key factors in gaining a funded trading account. They are a prop firm established in April 2021 in Miami, Florida US and offer traders plenty of options for their trading journey.

3.7/5
FMS Traders Review

Advantages

  • Capital of up to $1,000,000
  • Leverage of up to 1:100
  • Overnight, news and weekend holding allowed
  • Up to 80% profitt split

Disadvantages

  • Reviews suggesting no payouts
  • No EA's allowed
  • Time restrictions on evaluations
  • Restrictive rules regarding trading

How does This prop Firm Work?

FMS Traders offer funded trading accounts for a one off fee when you pass their two stage evaluation phases. As standard for any evaluation in this industry you are purchasing a demo account to showcase your trading abilities within the confines of this company’s trading rules. FMS asks traders to start evaluation phase one and adhere to their program’s set of rules in order to pass to phase two.

Their rules include a minimum of 10 days and a maximum of 30 days for any account size for phase one, and 60 days maximum for phase two.  Their max daily loss for any account size is 5% and max total loss is 10%. There is a profit target of 10% for stage one which drops down to just 5% for stage two of the evaluation.

Once you have passed both phases you are now able to trade with your funded account. The rules for the daily and total loss remain intact after you have passed both evaluation phases. However, you no longer have a minimum profit target and can request a withdrawal of your profits at any time.

How much Capital do they provide and what are their prices?

FMS Traders offer traders the opportunity to access a funded trading account up to the value of $1,000,000. You can purchase an evaluation account in various sizes that range from $5,000 to $200,000 which are priced as follows:

A $5,000 account costs $100

A $10,000 account costs $175

A $25,000 account costs $320

A $50,000 account costs $430

A $100,000 account costs $659

A $200,000 account costs $1,250

Are They legit?

FMS Traders have a year in the prop firm industry now and have some significant presence online. They have a good presence on social media including their instagram page with almost 10k followers. While their YouTube channel has over 2,000 subscribers there is only one short upload on the channel. They also have a TrustPilot account with over 130 reviews on it which shows 3.9/5 stars and a 71% excellency rating. There are some negative reviews surrounding alleged issues with payouts from verified customers.

What platform do they use?

FMS Traders use the industry platform MetaTrader4 and their partnered broker is Nash Markets.

What markets can be traded?

The markets available on FMS Traders are Forex pairs, Indices, commodities and crypto.

Do They Trade Crypto?

FMS Traders use Nash Markets as their partnered broker. They average between $5 and $10 depending on the instruments traded and the full range of costs can be found on their website.

How much does the company charge as commission and spread?​

Yes, FMS Traders offer cryptocurrency as an available instrument to trade.

What are Their Withdrawal Options?

The FMS Traders websites state they offer bank transfer, credit card, debit card and crypto withdrawal options. They take withdrawal requests bi-weekly and offer an 80% profit split.

Do they provide education and training?

The markets available on FMS Traders are Forex pairs, Indices, commodities and crypto.

Do they have Support and Contact options?

FMS Traders have multiple channels for contacting them if you require assistance. They have a live chat feature available on the website and FAQ section to answer general questions. You are also able to contact them on their social media accounts and they have a support email address to contact them at any point. There is also a telephone contact number listed on their website.

What makes them unique?

FMS Traders offer a fair evaluation program for traders to gain access to a funded trading account. They have some of the usual industry standards for prop firms and they also have some less common features which make them different. Looking at their leverage they offer a relatively high 100:1 on forex pairs with 40:1 on commodities and slightly lower for other instruments.

Another thing that is different for FMS Traders is that their rules are pretty relaxed for a prop firm. They allow you to hold trades overnight and over the weekend as well as trading the news. The only things they restrict users of is copy trading and the use of EA’s.

Overall FMS Traders offer a decent, simple and fair trading evaluation program for traders to prove their training skills and gain access to funds. If you would like to learn more about them or check out their website, you can do so here.