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Beware! FPG: "Trust" account deposits, real trades unregulated!

KnowFX
KnowFX
02-29

Heard about FPG investment risks? Issues were exposed 6 months ago.

Brother Dong heard that some people are asking if investing in FPG carries risks. As early as half a year ago, Brother Dong had inquired about FPG's operation and regulation, and also exposed that some investors could not withdraw their funds.

Today, let's directly investigate the latest situation of the broker FPG with Brother Dong.

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FPG

FPG's official website: 【https://fpgcn.com/zh/home】

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Brother Dong logged into FPG's official website, and the content on the website was inaccessible, unable to display. The website information is stagnant and not timely updated. However, declarations, web navigation, and the trading platform were not affected, still allowing for contact and trading.

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Through the website's navigation, it is seen that FPG supports the mainstream platform MT4, and is a white-label broker. We can directly view the server location and management by downloading the MT4 link from FPG's official PC website.

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Whether on the PC or APP side. FPG's MT4 server address actually belongs to a trust company? This is very odd to Brother Dong, FPG is not operating it directly, but has "outsourced the server to a trust company", then who will be responsible if something goes wrong?

According to complaints Brother Dong has encountered before, is FPG prepared to have investors voluntarily transfer their funds to an "official account" under the pretext that "the trust company encountered some issues during account operation"? Or is it planned to let the trust company's account complete "investor's asset management"?

If feasible, then does this trust company hold a regulation, and can it truly be displayed to investors?

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With these questions, Brother Dong directly checked FPG's official presentation of regulatory licenses.

The official website emphasizes:

1、【Fortune Prime Limited】is authorized and regulated by the Vanuatu Financial Services Commission (VFSC).

2、【Fortune Prime Global Capital Pty Ltd】is authorized and regulated by the Australian Securities and Investments Commission (ASIC), AFSL number: 400364. It is authorized to provide financial services in Australia, limited to the authorizations obtained, and only to residents of Australia.

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Brother Dong found the license mentioned on FPG's official website on Vanuatu's VFSC, the entity is 【Fortune Prime Limited】, with the regulatory license number: 700507. It is clearly not the entity 【Fortune Prime Global Ltd】 that is actually trading on MT4.

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Similarly, on the ASIC's official website in Australia, Brother Dong did not find the license information for the entity 【Fortune Prime Global Ltd】 that is actually trading on MT4. It is evident that FPG's MT4 trading account is also not directly regulated by ASIC in Australia.

Currently, the ASIC's official website only lists the entity 【FORTUNE SECURITIES PTY LTD】's license, although it allows retail customers, it does not have permissions for foreign exchange trading (foreign exchange contract, derivatives).

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Upon investigating, the two licenses displayed on FPG's official website, 【FORTUNE SECURITIES PTY LTD】 regulated by ASIC in Australia and 【Fortune Prime Limited】 holding a VFSC license from Vanuatu.

Among them, the ASIC license held by 【FORTUNE SECURITIES PTY LTD】 does not regulate foreign exchange trading, and the VFSC license was not used for actual transactions, and the official website MT4 has outsourced management to a trust company, it is very likely through "borrowing" the regulatory information of the trust company while hiding the fact that it does not hold a valid license, would you dare to invest in such a transaction?

The above content is based on Brother Dong's verification of paper information, to prevent illegal brokers from utilizing their self-developed trading platforms, creating an absolutely controlled trading environment. This information is for reference only, please carefully verify before trading!

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End

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