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FXPM -

Score

1.54 /10
Danger

FXPM

Marshall Islands

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.fxpmarkets.com

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Score

Regulatory Index0.00

Business Index7.25

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

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

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Warning: Low score, please stay away!
Previous Detection : 2024-12-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

FXPM · Company summary

Note: FXPM's official website https://www.fxpmarkets.com is currently inaccessible normally.

FXPMReview Summary
Founded2016
Registered Country/RegionMarshall Islands
RegulationNo regulation
Market InstrumentsIndices, stocks and commodities
Demo Account/
LeverageUp to 1:500
SpreadFrom 3 pips (Beginner account)
Trading PlatformMT4
Min Deposit$250
Customer SupportEmail: support@FXPMarkets.com

FXPM was registered in 2016 in Marshall Islands. It uses MT4 as its trading platform, and it claims to offer trading services on indices, stocks, and commodities. Nevertheless, this company is not regulated, and its website is currently inaccessible.

FXPM1.jpg

Pros and Cons

Pros Cons
MT4 supportedLack of regulation
Islamic accounts availableNo demo accounts
High minimum deposit
Limited contact channels

Is FXPM Legit?

Is FXPM Legit?

FXPM is not regulated by the financial services regulatory authority in Marshall Islands, which means that the company lacks regulation from its registration site. Moreover, the current status shows that client transferring is prohibited.

Is FXPM Legit?

What Can I Trade on FXPM?

FXPM claims to offer products like indices, stocks, and commodities.

Tradable Instruments Supported
Indices✔
Stocks✔
Commodities✔
Forex❌
Cryptocurrencies❌
Bonds❌
Options❌
Mutual Funds❌

Account Type

There are 4 types of accounts available: Beginner, Silver, Gold, and VIP. Moreover, swap-free Islamic accounts are also available.

Account TypeMin. DepositMax. LeverageSpread
Beginner$2501:100From 3.0 pips
Silver$1,0001:500From 2.5 pips
Gold$15,000From 2.0 pips
Premium$50,000From 1.5 pips
FXPM2.jpg

Leverage

For the Beginner Account, the leverage is up to 1:100. For other accounts, the leverage is capped at 1:500. High leverage may bring potential risks, so careful considerations are recommended.

Trading Platform

FXPM uses MT4 as its trading platform.

Deposit and Withdrawal

It is not clear whether fees are needed or not. Payment options only include Bank Transfer and Credit/Debit Cards.

User Reviews

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User comment

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Comments

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FX1405625018
more than one year
FXPM is in my view a complete sham. Made a small investment, had daily telephone calls FROM THEM, chasing more deposits and texts showing our investment accruing interest. TWO WEEKS ago, we decided to close the account. Our account is showing no money in it now, and they won't respond to telephone calls or emails...
FXPM is in my view a complete sham. Made a small investment, had daily telephone calls FROM THEM, chasing more deposits and texts showing our investment accruing interest. TWO WEEKS ago, we decided to close the account. Our account is showing no money in it now, and they won't respond to telephone calls or emails...
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2023-03-21 18:02
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欢欢1291
more than one year
This offshore broker told me that I need a high deposit of $10,000 for a managed account, for I am a beginner. I am not rich, and I don’t have much money. What should I do?
This offshore broker told me that I need a high deposit of $10,000 for a managed account, for I am a beginner. I am not rich, and I don’t have much money. What should I do?
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2023-02-14 18:29
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