So far, FP Markets looks pretty good. The first thing to look for when investigating any broker is to ensure they are regulated

FP Markets

FP Markets is based in Australia and was founded in 2005. It is licensed by top-tier regulatory agencies CySEC and ASIC and has an Australian-based parent company Prudential Markets. FP Markets is an award-winning brokerage and has received recognition for its client satisfaction and proprietary ECN technology that provides direct access to liquidity providers.

So far, FP Markets looks pretty good. The first thing to look for when investigating any broker is to ensure they are regulated. FP Markets has a license from CySEC and ASIC, which are both reliable regulators. It has won recognition and seems, on the surface, to have a good reputation. However, Trader Defense Advisory suggests digging deeper and doing a thorough investigation into FP Markets.

It can be difficult to distinguish between a scam broker and the real thing just by looking at the website, reading a few reviews, and checking that the broker claims to be licensed. Trader Defense Advisory performs a thorough investigation of brokers to provide consumers with the information they need to make the right choice.

We also assist those who have lost money in investment scams. If you feel your broker may be cheating you, consult with our experts today.

Year Created2005
Minimum Deposit$250
Product TypesForex, CFDs, Currencies and Indices
Products OfferedMore than 200 products to Trade

An Overview of FP Markets:

FP Markets, as mentioned above, is a CyCEC and an ASIC licensed broker. It has been around since 2005 and was funded by Prudential Markets. It has won many awards from Investment Trends Report, including most satisfied clients 6 years in a row, Best Trade Execution, Best Education Materials, 

The platforms FP Markets uses  IRESS, MT4, and MT5 and doesn’t have a proprietary platform.   It has over 10,000 products, such as forex, commodities, metals cryptocurrencies. A demo account and training are available through ebooks, webinars, and other resources. There are 10 base currencies available.

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Is FP Markets a scam?

FP markets has several reliable licenses and has earned awards for its customer service and client satisfaction. Those who trade with FP Markets can feel secure with negative balance protection for European clients and segregated accounts for greater security. 

Clients are given a selection of account types with ECN and MT4 and MT5. They are given a separate account for an IRESS platform, a low minimum deposit, and free deposit. Withdrawals also are free with most methods. Fees are relatively low and flexible. 

FP Markets provide education, tools, and guidance for first-time traders and also advanced resources for pro traders. It has a comprehensive range of tools and automated trading capabilities. Customer service is attentive, fast, and available by chat or phone. A demo account, trading hub, and research tools are also useful for clients.

FP Markets: Scam Warning Signs

Many clients like FP Markets, but nonetheless, there are some drawbacks. Although FP Markets has low fees, some withdrawal methods do carry fees and the stock trading fee tends to be higher than average. Unlike some brokers, FP Markets isn’t listed on the stock exchange. In addition, this broker does not have its proprietary platform. Customer service is good but is not available 24/7.

How to Spot a Scam Broker?

Here are some signs of a Scam broker:

  • Account freezes for no reason
  • Broker does not allow clients to make withdraw
  • Unregulated brokers 
  • Aggressive manner
  • Inability to log in
  • Poor communication
  • Unauthorized transactions
  • Broker has disappeared
  • Broker suggest those who have lost money make additional trades

If you try to log into your account and can’t, it could be a technical glitch, but in some cases, a scam broker may have taken your money and is locking you out of your account. You may try to make a withdrawal and be confronted with excuses or fees. The broker may demand huge withdrawal fees or may try to pressure you into additional trades that probably are not going to work. 

If your broker is verbally abusive, never continue working with them. Of course, brokers should provide advice and expertise but should never be aggressive or bossy. Poor communication is a hallmark of broker scams. Not providing information about trading methods or information about transaction activity is a serious red flag. Once you realize that the broker is probably a scam, act fast, because they disappear quickly.

How can Fund Recall help?

If you have realized your broker is fraudulent, it is important to act fast because scam artists tend to retreat under alternate identities. Fund recallry is staffed with a team of financial experts and professionals with in-depth knowledge of regulations and legal issues surrounding fraud. We are well-versed in the chargeback and wire recall process and provide guidance and support. 

Consult us today if you are a victim of a broker scam. We will assess your case and determine a game plan for dealing with the fraud and work with authorities to track down the scam artists and work towards retrieving your funds. Talk to our experts today. We have the solutions for recovering from a broker scam.

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