Global Broker Regulatory Inquiry Platform
WikiFX

Score

0 1 2 3 4 5 6 7 8 9
.
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/10

fpmarkets

China China | 5-10 years |
Suspicious Regulatory License | Suspicious Scope of Business | High potential risk

https://72614708.89650.top:8967/index/index/index/token/e1a49c77dd53c7a1efadfd9801811b1b.html

Website

Rating Index

Contact

https://72614708.89650.top:8967/index/index/index/token/e1a49c77dd53c7a1efadfd9801811b1b.html

license Forex License

No forex trading license found. Please be aware of the risks.

Warning: Low score, please stay away!
  • This broker lacks valid forex regulation. Please be aware of the risk!
2

Basic Information

Registered Region
China
Operating Period
5-10 years
Company Name
fpmarkets
Website
Company Summary
News
Wiki Q&A
Comment

Users who viewed fpmarkets also viewed..

Neex

Neex

8.64
Score
ECN Account15-20 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
Neex
Neex
Score
8.64
ECN Account15-20 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
Official Website
CPT Markets

CPT Markets

8.53
Score
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
CPT Markets
CPT Markets
Score
8.53
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
Official Website
HANTEC MARKETS

HANTEC MARKETS

8.53
Score
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
HANTEC MARKETS
HANTEC MARKETS
Score
8.53
ECN Account15-20 yearsRegulated in United KingdomMarket Making License (MM)MT4 Full License
Official Website
XM

XM

9.10
Score
ECN Account15-20 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
XM
XM
Score
9.10
ECN Account15-20 yearsRegulated in AustraliaMarket Making License (MM)MT4 Full License
Official Website

Website

  • 89650.top
    40.83.115.81
    Server Location
    Hong Kong Hong Kong
    ICP registration
    --
    Most visited countries/areas
    --
    Domain Effective Date
    --
    Website
    --
    Company
    --

Company Profile

Company Profile

Review summary

Basic information

This FP Market is a 100% scam trying to defraud clients by taking advantage of a big player's name-FP Markets. Please be aware of the potential danger.

Pros and disadvantages of FP Markets

Low forex fees are provided by FP Markets. Since creating an account and making deposits are both really simple and quick, you can get started right away. There are several top-notch instructional resources available, including trial accounts and e-books.

Only forex, CFDs (equities, indices, metals), and cryptocurrencies are offered by FP Markets. The desktop and web trading interfaces for MetaTrader 4 are out of date. The quality of research tools varies, particularly when it comes to news, charts, and basic data.

Trading fees at FP Markets

Trading costs on FP Markets are often modest.

We are aware that comparing trading costs amongst CFD providers is challenging. So how did we go about making their costs transparent and comparable? By totaling up all the costs associated with a typical deal for certain items, we compare brokers.

We have chosen well-liked securities from each asset class:

CFDs for stock indices: SPX and EUSTX50

CFDs for stocks: Vodafone and Apple

AUDUSD, EURCHF, GBPUSD, EURUSD, and EURUSD

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used was:

20:1 for stock index CFDs

5:1 for stock CFDs

30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for FP Markets fees.

CFD fees

FP Markets has low stock index CFD fees, but stock CFD fees are rather average.

FP Markets CFD fees for a $2,000 long position held for one week
FP Markets FXTM Markets.com
S&P 500 index CFD fee $0.3 $1.7 $3.5
Europe 50 index CFD fee $1.5 $1.9 $2.0
Apple CFD fee $31.8 $29.5 $11.9
Vodafone CFD fee $29.3 - $31.9

INVESTMENT OFFER

The breadth of CFDs offered by the Iress platform suite to international clients includes 8,884 shares, 61 FX pairs, four metals, 12 indices, five cryptocurrencies, and three commodities, compared to FP Markets' MetaTrader offering, which is restricted to about 130 tradeable symbols.

Trading cryptocurrency at FP Markets is only possible through CFDs; trading the underlying asset is not an option (e.g. buying bitcoin). Notably, neither U.K. citizens nor retail traders from any broker's U.K. firm are permitted to trade cryptocurrency CFDs.

Commissions and fees

At least for its commission-based ECN account offering, FP Markets is one of the most cost-competitive brokers available to traders worldwide thanks to its MetaTrader offering. The Iress ViewPoint account option is more expensive but is designed for active traders with large account balances.

MetaTrader Standard versus the Raw ECN account from FP Markets: The Raw ECN account from FP Markets offers competitive spreads, which as of October 2021 averaged 0.1 pip. Due to its much greater spreads (averaging 1.2 pips as of October 2021 for the EUR/USD), its Standard account is a more expensive choice.

Australian Iress ViewPoint Accounts: Three account types with various minimum deposit amounts are available through the FP Markets Iress platform suite: Standard (AUD 1,000 minimum deposit), Platinum (AUD 25,000), and Premier (AUD 50,000). (AUD 50,000). You must either be eligible for the Premier account or spend at least AUD 150 in commissions per month to avoid platform and data costs. Saxo Bank and CMC Markets provide greater offers for active traders and traders with large balances.

Iress Investor Account (Australia): For traders seeking a bare-bones, low-cost experience, FP Markets also offers its Iress Investor trading platform. Monthly fees are waived for this less expensive account option, but with the reduced price come some platform limitations. There is no streaming data by default (click to refresh quotes), and the charting package is far more limited than its ViewPoint platform counterpart. My take: if you cant afford the ViewPoint account, then pass on Iress Investor.

Keywords

  • 5-10 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • High potential risk

News

Let’s Talk About Derivatives: Advantages of Trading Futures Over Options

News Let’s Talk About Derivatives: Advantages of Trading Futures Over Options

What are Derivative Contracts in Simple Terms?

Wiki Q&A

How is the fund security of fpmarkets evaluated?

Fund security for fpmarkets is assessed as highly deficient. The broker operates without any valid financial licenses, as confirmed by WikiFX data, and holds a low risk assessment score of 1.49, indicating a fundamental lack of regulatory oversight and a high-risk profile for client assets.

Three days ago
United States

What is the license number of fpmarkets?

FP Markets does not possess a verifiable license number from any authoritative financial regulator. Analysis of its regulatory status shows an absence of mainstream forex trading licenses, classifying it as an unregulated entity.

Three days ago
United States

What is the full company name of fpmarkets?

The entity operates under the full name 'fpmarkets'. It is registered in China and has been operational for an estimated 5 to 10 years.

Three days ago
United States

What factors should I consider when choosing a safe forex broker?

When choosing a safe broker, investors should focus on key factors such as regulatory qualifications, fund security, and trading transparency. In general, priority should be given to platforms regulated by major regulatory authorities, such as the Financial Conduct Authority, the U.S. Securities and Exchange Commission, and the Australian Securities and Investments Commission. At the same time, attention should also be paid to: whether client funds are kept in segregated accounts, whether the fee structure is transparent, and whether there are many negative complaints or withdrawal problems. By combining WikiFX ratings and user feedback, investors can evaluate broker risks more comprehensively.

Three days ago
United States

What does it mean if a broker holds multiple regulatory licenses?

If a broker holds multiple regulatory licenses, it usually means that it operates in multiple countries or regions and needs to comply with the requirements of different regulatory authorities. Its overall credibility is generally higher. However, it should be noted that regulatory strength differs between licenses. Some offshore regulations have weaker restrictions, so safety should not be judged only by the number of licenses. It is recommended to focus on whether the broker holds licenses from major regulators such as FCA or ASIC, and evaluate its regulatory status, historical records, and overall rating together. You can also check all regulatory information and performance under different regulators on the WikiFX platform to more comprehensively assess its actual risk level.

Three days ago
United States

How can I identify a scam or fraudulent forex broker?

A broker can be evaluated as a potential scam platform by considering multiple factors such as regulatory qualifications, user complaints, fund security, and platform data. In general, brokers without valid regulation, those that frequently have withdrawal problems, those with a large number of user complaints, or those providing false information usually carry higher risks. You can check the broker's regulatory status, overall rating, exposure records, and user reviews on the WikiFX platform, and make judgments based on multi-dimensional data to effectively identify and avoid scam platform risks.

Three days ago
United States

What is a clone broker website?

A cloned broker website refers to a fraudulent website that imitates the information of a legitimate broker. Such websites usually copy the real company's brand name, page design, and even regulatory information to mislead investors into making deposits. Common features include: a domain name highly similar to the official website (such as slight spelling differences), abnormal or unverifiable contact information, and promises of unusually high returns. Once funds enter such platforms, they are usually difficult to recover. Investors can identify potential risks by checking the official domain name, verifying regulatory information, and using WikiFX for cross-verification.

Three days ago
United States

How is the WikiFX Score calculated?

WikiFX ratings are calculated based on a multi-dimensional data model, mainly including five dimensions: regulatory index, license index, business index, risk control index, and software index. The rating adopts a range system (0-10 points). The higher the score, the higher the broker's overall performance level. In addition, ratings are dynamically updated according to regulatory changes, complaint handling results, and historical data performance, making the rating more objective and timely. You can check the scores of each dimension and their trends on the WikiFX platform to evaluate the broker's actual situation more comprehensively.

Three days ago
United States
View More
Write a review
Exposure
Exposure
Neutral
Neutral
Positive
Positive

Content you want to comment

Please enter...

Submit now
Write a comment
2
Customer ServiceDownload AppScroll to TopTOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
United States
※ WikiFX compiles data from publicly available sources and user contributions. While we endeavor to maintain its accuracy, we do not warrant the information's completeness, accuracy, or timeliness, as it may become outdated. Investors are strongly advised to verify critical details with official sources before making any decisions.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qa@wikifx.com
Cooperation:business@wikifx.com