Focus Markets Review 2023 – Trustable Broker or Another Scam?

Is Focus Markets a Legal Trading Brokerage?

The firm’s domain focusmarkets.com displays two entities: Focus Markets Pty Ltd and Focus Markets LLC. The first is located in Australia and is covered by an ASIC licence. We found out that the firm is operating under the following business names: Anzo Capital Group. Place a Trade Group. DNA Markets Group. GURU ONE GROUP. We did not find any mention of focusmarkets.com anywhere.

The brand also has a subsidiary in Saint Vincent and the Grenadines, which is not Australia. Focus Markets regulation can’t be in SVG because this offshore island isn’t under the supervision of CFD and FX brokers. Focus Markets LLC was also banned in Spain, Belgium and France for its other brand, placeatrade.com.

Although they may be related, Focus Markets is unable to provide legal financial services outside Australia because it lacks the proper authorization. It appears that a legitimate company opened multiple offshore entities in an attempt to take on international customers. We would love to have more information about their operations.

Focus Markets Trade Accounts

Focus Markets claims that it offers investment in shares, indices and cryptocurrencies as well as forex and commodities. However, the account descriptions don’t include details about trading parameters and tradable instruments. The firm offers 2 trading accounts with a minimum deposit of $100.

The company promotes the MT5 app for mobile devices. The company advertises the MT5 mobile app. However, the Apple Store does not support MetaTrader. This means that the app is only available to Android users. Users of iOS will still have the ability to trade via a WebTrader.

This broker allows CFD trading and investing in these categories:

• Forex: AUD/GBP, NOK/SEK, USD/ZAR
  
• Commodities Gold, crude oil, corn
  
• Indices – AU200, IBEX35, DAX30
  
• Shares – Amazon, Apple, Alphabet Inc.
  
• Cryptocurrencies – BTC, BCH, USDT

Spread and other commissions will vary depending on which account you choose. The Standard account’s starting spread is 1 pip. Raw accounts have no spreads but a $3.5 per lot commission. We do not see any minimum deposits or differences in the account types of Focus Markets.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – CIBFX, CGMA, Fenix Securities.

Focus Markets Demo Account – Can I Trade for Free?

Your Focus Markets Demo account allows you to trade for up to 30 days. Your trial period ends after that and you must invest. The FAQ section states that the minimum deposit must be $100. However, we are unsure if this applies to both Standard and Raw accounts.

Focus Markets may seem legitimate and offer trading risk-free. However, it is not regulated. There is no authorization to offer any type of trading, whether with or without risk.

How Do You Withdraw Your Profit From a Focus Markets Account?

Let’s look at a list of Focus Markets options.

• Credit/debit card
• Bitwallet
• BTC
• Neteller
• Skrill
• Wire transfer – 1-3 business days
• POLi
• PayPal – 1-2 business days
• BPay – 1-2 business days

All other methods, except for those we have specifically mentioned, are said to be instant. Focus Markets has received numerous complaints that it is difficult to get a payout.

We were unable to locate any legal documents which would help us clarify these terms, other than FAQ. This is a remarkable situation for an allegedly licensed broker, you don’t think?

This broker’s customers are mostly from offshore entities so it is possible to experience issues. It’s a red flag if you are unable to log into the broker for more than two hours, or if your request for withdrawal is not approved within a reasonable amount of time.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

Focus Markets: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Focus Markets. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Focus Markets!