|Year(s) of establishment
||Information not available / Forex pairs, commodities, stocks, cryptocurrencies, indices
|Minimum Initial Deposit
||0.0 pips onwards
|Deposit and withdrawal method
||Unionpay, Tether, Perfect money and fasapay
||Email/ phone number /live chat
|Fraud Complaints Exposure
||No for now
Fortune Prime Global Limited (short for “FPG”) present itself an ECN forex broker, with its headquarter located in Melbourn, Australia. FPG advertises that it has a global business coverage, having setting branches and offices in many countries. FPG operates under the regulatory supervision of the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). FPG offers a comprehensive range of trading services, catering to both retail and institutional clients. FPG enables traders to access various financial markets, including forex, commodities, indices, shares and cryptocurrency, with the maximum trading leverage for forex trading is up to 1:500.
One of the key advantages of trading with FPG is the availability of multiple trading account types. These account types cater to the diverse needs and trading styles of different traders, including Cent, Standard, Prime and ECN, with the minimum deposit to open a cent account from $40. Whether you are a beginner or an experienced trader, FPG has tailored account options to suit your requirements.
In terms of trading platforms, FPG offers the popular MetaTrader 4 (MT4) platform, known for its user-friendly interface, advanced charting tools, and extensive range of technical indicators. MT4 provides a reliable and efficient trading experience, allowing traders to execute trades seamlessly and access real-time market data.
Customer support is a priority for FPG and traders can reach out to the customer support team through multiple channels, including phone, email and live chat. The support team is available during trading hours to address inquiries, provide technical support, and assist with any account-related matters.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Is FPG legit or a scam？
FPG operates through two entities, each regulated by different authorities. FORTUNE PRIME GLOBAL CAPITAL PTY LTD is regulated by the Australian Securities and Investments Commission (ASIC), a well-known regulatory body in Australia. ASIC oversees and enforces financial regulations to ensure fair and transparent operations within the Australian financial markets.
FORTUNE PRIME LIMITED, its global entity, is regulated by the Vanuatu Financial Services Commission (VFSC). The VFSC is the regulatory authority responsible for overseeing financial services providers in Vanuatu. While Vanuatu is an offshore jurisdiction, it does have its own regulatory framework in place to supervise financial activities within its jurisdiction.
Regulation by ASIC and VFSC signifies that FPG is subject to certain compliance standards and regulations in their respective jurisdictions. It is important to note that regulatory oversight helps promote transparency, investor protection, and adherence to industry best practices.
Pros and Cons
FPG (Fictitious Forex Broker) has its strengths and weaknesses. On the positive side, it offers a wide range of currency pairs and trading instruments, along with competitive spreads and low trading fees. The broker supports the popular MT4 trading platform and provides access to educational resources and market analysis. Traders can choose from four types of trading accounts and enjoy generous leverage of up to 1:500.
However, FPG also has its drawbacks. The broker imposes higher minimum deposit requirements compared with other brokers, which could deter beginner traders or those with limited capital. There is also a potential risk of price manipulation due to the absence of proper regulation. Withdrawal options are limited, and delays in processing withdrawals may occur.
||No demo account
|Wide range of currency pairs and trading instruments
||Limited customer support options
|Low minimum deposit of $100
||High minimum deposit requirements
|Four types of trading accounts to choose from
||Potential for price manipulation
|Generous leverage up to 1:500
||Limited withdrawal options and delays
|Competitive spreads and low trading fees
||No Islamic trading account
|MT4 trading platform and webtrader supported
||Trading platform limited to MT4
|Access to educational resources and market analysis
|Copy trading available
FPG offers a diverse range of market instruments, catering to the needs of traders looking to access different financial markets. The broker provides access to various asset classes, including forex, commodities, indices, shares, and cryptocurrencies.
Forex: FPG allows traders to participate in the global currency market, offering a wide range of forex pairs to trade. Traders can engage in major, minor, and exotic currency pairs, taking advantage of the volatility and potential profit opportunities in the forex market.
Commodities: FPG enables traders to access the commodities market, where they can trade popular commodities such as gold, silver, crude oil, natural gas, and more.
Indices: FPG provides access to a variety of global indices, allowing traders to speculate on the performance of stock market indices from around the world. Popular indices such as the S&P 500, Dow Jones, FTSE 100, and Nikkei 225 are available for trading.
Shares: FPG offers the opportunity to trade shares of various publicly listed companies. Traders can engage in stock trading, speculating on the price movements of individual company stocks.
Cryptocurrency: FPG facilitates trading in cryptocurrencies, including popular digital assets like Bitcoin, Ethereum, Litecoin, and more.
Spreads and Commissions for trading with FPG
When it comes to spreads and commissions, FPG offers a variety of trading accounts with different pricing structures. The spreads and commissions vary depending on the type of account chosen.
For the Cent and Standard accounts, FPG provides a zero-commission trading environment. The Cent account features spreads starting from 0.2 pips, while the Standard account offers even tighter spreads starting from 0.1 pips. These accounts are suitable for traders who prefer to escape from the burden of additional commissions. The Prime account is designed for more experienced traders who require enhanced trading conditions. This account also offers a zero-commission setup, but with even lower spreads, starting from 0.1 pips. It provides traders with the advantage of tighter spreads for potentially better trade execution.
For traders who prefer an ECN (Electronic Communication Network) trading environment, FPG offers the ECN account. This account type features raw spreads starting from 0.0 pips, providing traders with direct access to the interbank market. However, there is a commission of $3.5 per lot traded, which is standard practice in ECN trading.
In addition to trading fees, FPG imposes non-trading fees that traders should be aware of. These fees, separate from the actual cost of executing trades, can impact the overall profitability of trading activities.
While FPG offers competitive spreads and low trading fees, it's important to consider the non-trading fees that may apply. These fees can include deposit and withdrawal fees, inactivity fees, account maintenance fees, and currency conversion fees. Traders should carefully review the broker's fee structure to assess the potential impact on their trading strategies and profitability. It's worth noting that non-trading fees can vary among brokers, and FPG may have its specific fee structure. By being aware of the non-trading fees associated with FPG, traders can better manage their costs and make informed decisions about their trading activities.
Account Types for FPG
FPG provides traders with a selection of four distinct trading account types: Standard, Prime, ECN, and Cent. Each account type caters to different trading needs and preferences. Let's explore the features and characteristics of each account:
Cent Account: The Cent account is suitable for traders who prefer to trade with smaller position sizes or test their strategies with minimal risk. It requires a minimum deposit of $40 and offers leverage of up to 1:500. This account type allows traders to trade in micro-lots, making it ideal for beginners or those with limited trading capital.
Standard Account: The Standard account is designed for traders seeking a straightforward trading experience. It requires a minimum deposit of $50 and offers leverage of up to 1:500. This account type is suitable for beginners or traders with limited capital.
Prime Account: The Prime account is tailored for traders looking for enhanced trading conditions and features. It requires a minimum deposit of $100 and offers leverage of up to 1:500. Traders can enjoy competitive spreads, faster execution, and additional trading tools.
ECN Account: The ECN (Electronic Communication Network) account is geared towards experienced traders who require direct access to market liquidity and tighter spreads. It requires a minimum deposit of $200 and provides leverage of up to 1:500. Traders can take advantage of faster order execution and access to interbank pricing.
EA and hedging are all available for these four types of accounts.
FPG offers a reliable and feature-rich trading platform to cater to the needs of its traders. The broker supports the widely acclaimed MetaTrader 4 (MT4) platform, known for its robust functionality and user-friendly interface. MT4 is a popular choice among traders globally due to its comprehensive charting capabilities, advanced technical analysis tools, and efficient order execution. With MT4, traders can access real-time market data, monitor multiple instruments simultaneously, and execute trades with ease. FPG MT4 is available for Mac, PC, Android versions.
In addition to MT4, FPG also provides a Webtrader platform, offering convenience and flexibility to traders who prefer accessing their accounts via a web browser. The Webtrader allows traders to access their accounts from any device with an internet connection, eliminating the need for downloading or installing any software. It provides a user-friendly interface, essential trading features, and real-time market updates, enabling traders to execute trades and manage their positions effortlessly.
Leverage offered by FPG
FPG offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.
Deposit and withdrawal methods and fees
FPG offers a range of deposit and withdrawal options to cater to the needs of its traders. The minimum deposit requirement is $50 for most payment methods, making it accessible for traders with different budget sizes. However, it's important to note that the minimum deposit is slightly higher for Bank Wire and Dragonpay, set at $100.
The broker does not charge any deposit fees, which is advantageous for traders as they can fund their accounts without incurring additional costs. However, it's worth mentioning that Paypal is no longer offered as a payment method, and Skrill is not available for EU Clients. Traders should consider alternative payment options provided by the broker to ensure smooth deposit transactions.
When it comes to withdrawals, FPG claims to provide efficient processing times. Withdrawal requests are typically processed within 24 hours, ensuring timely access to funds.
FPG provides assistance to its clients through multiple channels, including phone, email, and online chat. The availability of phone support enables traders to directly speak with a representative, allowing for real-time assistance and addressing any urgent queries or concerns. Email support provides a convenient way to communicate non-urgent matters, allowing traders to receive detailed responses and maintain a record of their communication with the broker.
For those seeking immediate assistance or quick responses, FPG offers online chat support. This feature allows traders to engage in real-time conversations with a support agent directly through the broker's website or trading platform.
Additionally, FPG provides a comprehensive Frequently Asked Questions (FAQs) section. This resource addresses common queries related to account opening, funding, trading conditions, and more. Traders can refer to FAQs to find quick answers to their questions without the need for direct assistance.
At FPG, traders have access to a range of educational resources designed to enhance their trading knowledge and skills. These resources cover various aspects of the financial markets and aim to empower traders with valuable insights and strategies. From daily economic analysis to in-depth trading analysis.
One of the key educational resources offered by FPG is daily economic analysis. Traders can stay updated on the latest economic events, market trends, and news that impact the financial markets.
Additionally, FPG offers detailed trading analysis, providing traders with technical and fundamental analysis of different financial instruments. This analysis explores price patterns, support and resistance levels, trend indicators, and other critical factors that influence market movements.
Furthermore, FPG provides financial tips and educational articles that cover a wide range of topics related to trading, risk management, and investment strategies.
In conclusion, FPG offers a range of positive features, such as a wide selection of currency pairs and trading instruments, competitive spreads, low trading fees, and access to educational resources. Traders also have the option to choose from multiple trading accounts and benefit from generous leverage. However, there are notable drawbacks to consider, including potential risks associated with price manipulation. Additionally, the withdrawal options are limited, and delays in processing withdrawals may occur.
Q: Is FPG a regulated forex broker？
A: No, FPG is regulated by ASIC and VFSC.
Q: Does FPG offer a demo account for practice？
A: Yes, FPG does provide a demo account for traders to practice their strategies.
Q: What are the minimum deposit requirements for opening an account with FPG？
A: FPG offers a low minimum deposit requirement of $100, making it accessible for traders with varying budgets.
Q: What types of trading accounts are available with FPG？
A: FPG offers four types of trading accounts, including Standard Accounts, ECN Accounts, Cent Accounts and Prime Accounts.
Q: What is the maximum leverage offered by FPG？
A: FPG provides generous leverage of up to 1:500, allowing traders to amplify their trading positions.
Q: Does FPG support the popular MT4 trading platform？
A: Yes, FPG supports the widely used MT4 trading platform as well as a webtrader.
Q: Are there educational resources and market analysis available for traders？
A: Yes, FPG provides access to educational resources and market analysis, which can assist traders in making informed trading decisions.
Q: Can traders engage in copy trading with FPG？
A: Yes, FPG offers copy trading functionality, allowing traders to follow and replicate the trades of successful traders.