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/10

FPFX

United Kingdom|2-5 years|
White label MT5|Regional Brokers|High potential risk|

https://www.fp-forex.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
FoopuGlobal-Demo MT5
Server Location Hong Kong

Contact

+44 7451273377
support@fxcoz.com
https://www.fp-forex.com

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 7451273377

Other ways of contact

Broker Information

More

Company Name

FPFX

Abbreviation

FPFX

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 4
Previous Detection : 2024-07-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The United KingdomFCA regulation (license number: 433907) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 247017) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

FPFX · WikiFX Survey
Danger A Visit to FPFX in Australia: Office Not Found
Australia

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FPFX · Company Summary

Note: FPFXs official site - https://www.fp-forex.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

FPFX Review Summary in 10 Points
Founded 2-5 years
Registered Country/Region United Kingdom
Regulation Not regulated (Suspicious ASIC, FCA clone)
Market Instruments Not disclosed
Demo Account Not disclosed
Leverage Not disclosed
EUR/USD Spread Not disclosed
Trading Platforms MT5
Minimum Deposit Not disclosed
Customer Support Email, Phone

What is FPFX?

FPFX, a forex brokerage firm located in the United Kingdom, provides financial services to traders worldwide. However, it's crucial to highlight certain alarming issues. FPFX's licenses from ASIC (Australia Securities & Investment Commission) with number 247017 and the Financial Conduct Authority (FCA) with number 433907 are suspected to be fake clone, thereby raising legitimate concerns about trading safely. In addition, its malfunctioning website poses another notable concern that cannot be disregarded.

In the ensuing segments, we will thoroughly examine and articulate this broker's characteristics from diverse standpoints, offering you clear and well-arranged details. If you find this interesting, we urge you to continue reading. Concluding the article, a brief summary will be shared enabling you to swiftly and effectively understand the defining attributes of the broker.

Pros & Cons

Pros Cons
• MT5 trading platforms • Suspected ASIC, FCA clone
• Inaccessible website
• Lack of transparency
• Limited customer support channels
• Negative review from their clients

While evaluating the broker's strengths and weaknesses, the cons are particularly concerning.

On the plus side, the broker utilizes the MT5 trading platform, which is widely respected in the financial industry.

However, the drawbacks seem to weigh more heavily. They include suspicion of fake clone ASIC and FCA licenses, a broken website, lack of transparency in operations, limited customer service channels through emails and phone only, and a report of unable to withdraw from their client. These factors should not be overlooked as they each serve as significant red flags when assessing the credibility and trustworthiness of the brokerage.

Is FPFX Safe or Scam?

When considering the safety of a brokerage like FPFX or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: The suspicion surrounding its license no. 247017 from the Australia Securities and Investment Commission (ASIC) and license no. 433907 from the Financial Conduct Authority (FCA) being fake clone casts serious doubts regarding the security of trading with them. And, with their official website currently not being accessible, indications suggest possible discontinuation of their operations. These elements together escalate the potential risks involved when considering investments through this platform.

suspicious clone ASIC license
suspicious clone FCA license
  • User feedback: The existence of a withdrawal difficulty report on WikiFX should be viewed as a potential red flag. Before deciding to embark on any engagements with a broker or investment platform, conducting thorough research and diligent analysis is recommended to avert regrettable decisions.

  • Security measures: So far we cannot find any security measures info on Internet for this broker.

In the end, deciding if you should engage in trading with FPFX is a subjective decision. It would be prudent to thoroughly assess the risks and advantages before coming to a conclusion.

Trading Platforms

Trading Platforms

FPFX MARKETS provides its customers with a reliable trading environment via the MetaTrader 5 (MT5) platform.

MT5 is acclaimed for its extensive features and is a favorite platform for investors worldwide. It provides real-time access to market charts, integrated tools for technical analysis, and direct trading, facilitating a consistent trading experience. Its popularity, mostly in trading precious metals, is apparent as it's being used by over 80% of brokerage companies and banks across more than thirty countries.

User Exposure on WikiFX

On our website, it is visible that there's one report on WikiFX regarding withdrawal issues, a clear red flag. We highly encourage traders to carefully review all the information at their disposal before risking their hard-earned money. Our website serves as a comprehensive source of information, aimed at assisting traders to make informed choices. If you find yourself in unfortunate circumstances involving fraudulent activities by brokers or if you've been a victim of such incidents, we strongly recommend reporting this in our 'Exposure' section. Your feedback is invaluable to us. Our proficient team is dedicated to addressing these matters and will relentlessly pursue a resolution to such concerning situations.

User Exposure on WikiFX

Customer Service

The customer service at FPFX is somewhat restricted, as it only offers two means of communication: email and telephone. This limited accessibility may hinder immediate or diverse forms of client communication and assistance needs.

Phone: +44 7451273377.

Email: support@fxcoz.com; support@foopu.net.

Conclusion

FPFX, an online brokerage firm based in the UK, provides trading services to global clients as per the information available online. However, its suspicious ASIC and FCA clone regulatory status serve as immediate warning signs, since regulated brokers are mandated to comply with certain financial regulations and provide a measure of safety to their clients. The absence of such regulation elevates potential risks for traders, exposing them to fraudulent activities.

The non-functional website and one exposure of withdrawal issues on WikiFX further underline a lack of professionalism and attention to detail, eyeing skepticism towards their service reliability.

Therefore, individuals considering FPFX must exercise caution and comprehensively research other regulated options that uphold transparency, security, and accountability.

Frequently Asked Questions (FAQs)

Q 1: Is FPFX regulated?
A 1: No. It has been verified that this broker currently has an regulatory status of suspicious ASIC and FCA clone.
Q 2: Is FPFX a good broker for beginners?
A 2: No. It is not a good choice for beginners. Not only because of its fake clone regulatory condition, but also because of the lack of transparency and a report of unable to withdraw.
Q 3: Does FPFX offer the industry leading MT4 & MT5?
A 3: Yes, it offers MT5 platform.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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