FP Markets

Current Rating

1.15

Industry Tier

E

Profile

Country

Myanmar

Market Categories

Forex

Organization Categories

Brokerage

Services

Forex, commodities, stock indices, precious metals, energy

Supported Languages

English, Chinese, Spanish, Japanese, French, Korean, German, Italian, Portuguese

Domain Registration

2024-03-06

Status

Suspected Fraud

FP Markets is an impostor broker that pretends to be FP Markets. FP Markets uses the same name and logo as the legitimate FP Markets, aiming to confuse investors. Moreover, the broker's website is highly similar to those of many other impostor brokers, suggesting it might have been built using the same website template.

Company Background:

This broker is a newly established forex broker with an undisclosed corporate entity. Its registered address is Suite 404, The Matalon, Coney Drive, Belize City, Belize. The broker claims its mission is to synchronize with global markets and assist clients in reaching their investment goals with an open mindset. The official website domain was registered on March 6, 2024, indicating the company has been established for less than a month.

Regulatory Status:

This broker uses false regulatory information and does not hold any financial regulatory licenses. Accordingly, its financial product trading services, including forex, commodities, stock indices, precious metals, and energy, are not subject to strict regulation. According to its website, the broker claims to be regulated by the Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA) of the United States. The US MSB regulatory license number is 31000257135391, and the US NFA regulatory license number is 0559918.

Upon verification, it was found that the broker does not hold the US MSB and NFA regulatory licenses it claims, but instead, it plagiarizes the license information of GOLDMANS GLOBAL. The investigation also revealed that multiple brokers used the same false regulatory information to deceive investors. Investors should be vigilant and stay away from these fraudulent platforms to prevent financial losses.

Impostor platform regulatory information

Trading Products:

This broker mainly provides investors with trading services in forex, commodities, stock indices, precious metals, and energy, but currently, these services are not under strict regulation. In the forex market, clients can trade more than 50 currency pairs, covering major pairs, cross pairs, and exotic pairs. Additionally, this broker offers leverage up to 1000:1, but clients need to understand and use high leverage with caution.

In terms of precious metals, this broker allows clients to trade gold and silver without requotes. High leverage is also an option, but it should be used cautiously.

For energy products, this broker provides a minimum trading margin as low as $5. Clients can participate in trading energy products like crude oil, thus increasing market participation.

Account Types:

This broker offers various types of trading accounts, including Micro Account, Standard Account,

FP Markets Ultra Low Account, and Shares Account.

Micro Account is suitable for beginners and small investors, offering flexible trading solutions, with maximum leverage of 1:1000 and a minimum deposit of $5.
Standard Account is for most traders, providing a broader range of trading functions and services, with maximum leverage of 1:1000 and a minimum deposit of $5.
FP Markets Ultra Low Account is for traders seeking lower trading costs with more competitive spreads, offering maximum leverage of 1:1000 and a minimum deposit of $5.
Shares Account is designed for stock trading, offering direct access to the stock market with a minimum deposit of $10,000, and also supports Islamic Account.

Trading Software:

This broker only provides a proprietary trading platform named ST5, not supporting well-known platforms like MT4 or MT5. Investors using the broker's proprietary platform ST5 should be aware of risks such as system stability, incomplete functions, security, and technical support. Thus, investors should be vigilant during trading, take necessary precautions, and closely monitor their trading activities to mitigate potential risks.

Spreads and Leverage:

This broker offers various account types, including Micro Account, Standard Account, FP Markets Ultra Low Account, and Shares Account. In Micro Account and Standard Account, the spread for major currency pairs starts from 1 pip, while in FP Markets Ultra Low Account, the spread can be as low as 0.6 pips. For Shares Account, spreads depend on the actual conditions of the relevant exchanges.

Regarding leverage, Micro Account, Standard Account, and FP Markets Ultra Low Account offer leverage up to 1:1000, while Shares Account does not offer leverage.

Conclusion:

This broker is a fraudulent platform impersonating FP Markets and falsely advertises using GOLDMANS GLOBAL's regulatory information. This broker and several other impostor platforms share highly similar website content and designs, suggesting the same website template was used for their creation. Investors should avoid these fraudulent platforms to prevent financial losses. Currently, the broker has been labeled as "suspected of fraud" on TraderKnows.

References

Profile

FP Markets is an impostor broker that pretends to be FP Markets. FP Markets uses the same name and logo as the legitimate FP Markets, aiming to confuse investors. Moreover, the broker's website is highly similar to those of many other impostor brokers, suggesting it might have been built using the same website template.

Company Background:

This broker is a newly established forex broker with an undisclosed corporate entity. Its registered address is Suite 404, The Matalon, Coney Drive, Belize City, Belize. The broker claims its mission is to synchronize with global markets and assist clients in reaching their investment goals with an open mindset. The official website domain was registered on March 6, 2024, indicating the company has been established for less than a month.

Regulatory Status:

This broker uses false regulatory information and does not hold any financial regulatory licenses. Accordingly, its financial product trading services, including forex, commodities, stock indices, precious metals, and energy, are not subject to strict regulation. According to its website, the broker claims to be regulated by the Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA) of the United States. The US MSB regulatory license number is 31000257135391, and the US NFA regulatory license number is 0559918.

Upon verification, it was found that the broker does not hold the US MSB and NFA regulatory licenses it claims, but instead, it plagiarizes the license information of GOLDMANS GLOBAL. The investigation also revealed that multiple brokers used the same false regulatory information to deceive investors. Investors should be vigilant and stay away from these fraudulent platforms to prevent financial losses.

Trading Products:

This broker mainly provides investors with trading services in forex, commodities, stock indices, precious metals, and energy, but currently, these services are not under strict regulation. In the forex market, clients can trade more than 50 currency pairs, covering major pairs, cross pairs, and exotic pairs. Additionally, this broker offers leverage up to 1000:1, but clients need to understand and use high leverage with caution.

In terms of precious metals, this broker allows clients to trade gold and silver without requotes. High leverage is also an option, but it should be used cautiously.

For energy products, this broker provides a minimum trading margin as low as $5. Clients can participate in trading energy products like crude oil, thus increasing market participation.

Account Types:

This broker offers various types of trading accounts, including Micro Account, Standard Account,

FP Markets Ultra Low Account, and Shares Account.

Micro Account is suitable for beginners and small investors, offering flexible trading solutions, with maximum leverage of 1:1000 and a minimum deposit of $5.
Standard Account is for most traders, providing a broader range of trading functions and services, with maximum leverage of 1:1000 and a minimum deposit of $5.
FP Markets Ultra Low Account is for traders seeking lower trading costs with more competitive spreads, offering maximum leverage of 1:1000 and a minimum deposit of $5.
Shares Account is designed for stock trading, offering direct access to the stock market with a minimum deposit of $10,000, and also supports Islamic Account.

Trading Software:

This broker only provides a proprietary trading platform named ST5, not supporting well-known platforms like MT4 or MT5. Investors using the broker's proprietary platform ST5 should be aware of risks such as system stability, incomplete functions, security, and technical support. Thus, investors should be vigilant during trading, take necessary precautions, and closely monitor their trading activities to mitigate potential risks.

Spreads and Leverage:

This broker offers various account types, including Micro Account, Standard Account, FP Markets Ultra Low Account, and Shares Account. In Micro Account and Standard Account, the spread for major currency pairs starts from 1 pip, while in FP Markets Ultra Low Account, the spread can be as low as 0.6 pips. For Shares Account, spreads depend on the actual conditions of the relevant exchanges.

Regarding leverage, Micro Account, Standard Account, and FP Markets Ultra Low Account offer leverage up to 1:1000, while Shares Account does not offer leverage.

Conclusion:

This broker is a fraudulent platform impersonating FP Markets and falsely advertises using GOLDMANS GLOBAL's regulatory information. This broker and several other impostor platforms share highly similar website content and designs, suggesting the same website template was used for their creation. Investors should avoid these fraudulent platforms to prevent financial losses. Currently, the broker has been labeled as "suspected of fraud" on TraderKnows.

References