• Wed. Jul 24th, 2024

FP Markets Review (fpmarkets.com) FRAUD EXPOSED – FP Markets Scam Broker

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Byfraudulentbrokers.com

Sep 24, 2023
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FP Markets (fpmarkets.com)
Conclusion
All these signs of a scam that you will find at FP Markets can help you determine that it is a fraudulent broker that should be avoided.
Broker Rating
0.1

FP Markets (fpmarkets.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! FP Markets scam works by getting you to believe you can become rich by trading with them.

FP Markets Review

When you decide to trade in the financial markets, it is understood that it is with the aim of making profits. You have heard about people making high returns via online trading, but this does not mean that it is without risks. There are a lot of risks involved, one of which is signing up with a scam broker.


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These are certainly not a myth because there are millions of people who have lost their money at the hands of these criminals and you do not want to be next. But, how can you make that happen? This FP Markets review can help you out.

You have to remember that where scam brokers are concerned, you cannot just open up their website and identify them right off. They do not come with a warning, or else people would not have fallen into their traps. Nonetheless, this does not meant that there are no signs that can help you learn the truth. There are some ways for you to be able to spot a scam brokerage. Yes, it is true that these fraudsters do their level best to hide the truth.

If you check out some notorious scam websites, you will be blown away with how well they are designed, but this does not make them authentic. Likewise, the offerings and services they claim to have are also irrelevant if they are not genuine. The key is to be able to figure out exactly what makes them a scam because this is the only way you can avoid them.

FP Markets website

You do not need to be a professional, or have extensive knowledge and experience to be able to do so. All you have to do is know the signs and that you will find in the following FP Markets review. Presented as a reliable and good brokerage, FP Markets seems to have everything; low fees, competitive spreads and an excellent trading platform.

But, when you dig deeper, you find that FP Markets has all clear signs of a scam. What are the signs? You can find them below.

A virtually anonymous broker

The first clear sign of a scam that you will find at FP Markets is that it is a virtually anonymous broker. The primary characteristic of a legitimate brokerage is that it will be honest and transparent about its corporate background and other information.

It will give you all relevant information about where it is based, its license number, the company name and those behind it. After all, your relationship with the broker is based on trust and that can only be established when you know who you are dealing with.

It appears that FP Markets is not interested in building trust with its clients because it shares no such information. There is no corporate background, or even a corporate address on its website. You are dealing with a completely anonymous broker because there is no piece of information that can be found anywhere on its website. You do not know where FP Markets is based, or the name of the company behind it. As a matter of fact, it has not even bothered to share a phone number, or even an email address.

If you want to contact FP Markets, you have to leave a message on its website and they will get in touch with you. No authentic brokerage would ever do so because they understand that trust is a two-way street. You cannot share your information and money with a company that lacks transparency.

Malicious bonus policy

To begin with, the fact that FP Markets has trading bonuses available is itself a sign of a scam because these have been banned in numerous regions around the world. This is primarily because of the strings attached to these bonuses, which you can find in their policies. The bonuses that FP Markets offers also has these strings and their bonus policy is downright malicious.

Why? This is because FP Markets appears to have the infamous non-deposited funds clause, which dictates that you cannot withdraw profits that are generated via your bonuses until you achieve a certain turnover. The problem with this clause is that you cannot physically separate profits earned from your own funds and those from your bonus, which means you cannot make withdrawals at all until the turnover is reached.

Here is another problem because the turnover requirement that FP Markets has mentioned is impossible to achieve, so your funds are essentially gone.

No trading platform

The key to online trading is the platform that the broker provides to you. It connects to the markets and lets you execute your trades as well as use trading tools that can allow you to make smart decisions. So, what does it mean when a broker does not offer you a trading platform at all? This is another sign of a scam, one that you will find at FP Markets because it does not appear to have a functional platform.

The only thing resembling a trading platform that you find on the FP Markets website is a dashboard that only enables you to make a deposit. There is no option of trading, which means you will not be able to conduct any transactions.

Poor trading conditions

The trading conditions that FP Markets is offering are also a clear scam sign because they highlight that the brokerage is up to no good. The spreads that you are offered are as high as 3 pips, while the average spreads offered by a broker are typically under 1 pip. This means that the spreads are thrice as high, making them terrible for anyone who wants to make a profit.

The leverage ratios that are offered at FP Markets are also as high as 1:200 and these are common amongst scammers because they do not comply with any caps imposed by regulatory bodies. Such leverage ratios come with extreme risk because if the trades don’t go in your favor, your losses will be magnified.

Wrapping Up

All these signs of a scam that you will find at FP Markets can help you determine that it is a fraudulent broker that should be avoided.

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