FPG

General Information & Regulation

FPG, a trading name of Fortune Prime Global, presents itself as a forex and CFD broker that has offices in Sydney and Melbourne in Australia as well as other regional offices. The broker claims to provide retail and institutional clients with various tradable financial instruments with leverage up to 500:1 and variable spreads from 0.11 pips on the leading MetaTrader4 trading platforms, as well as a choice of two different live account types and 24/5 customer support service. Here is the home page of this brokers official site:

As for regulation, FPG says it is regulated by multiple regulators, however, it has been verified that the broker does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.23/10. Please be aware of the risk.

Market Instruments

FPG advertises that it offers access to an extensive range of markets on forex and CFDs, covering cryptocurrencies, forex currency pairs, indices, precious metals, commodities and crude oil.

Account Types

Apart from demo accounts, FPG claims to offer two types of trading accounts, namely Standard and ECN. The minimum initial deposit amount is only $50 for the Standard account, while the ECN account has a much higher minimum initial capital requirement of $200.

Leverage

The leverage offered by FPG is capped at 500:1, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

FPG claims that different account types can enjoy quite different spreads. Specifically, the spread on the Standard account starts from 0.25 pips, while the ECN account holders can enjoy spreads from 0.11 pips. There is no commission charged.

Trading Platform Available

Platforms available for trading at FPG are said to be MT4 for PC, MT4 for Android, MT4 for iPhone and MT4 for iPad. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

FPG appears to accept deposits and withdrawals via Tether, Perfect Money, Fasapay and China UnionPay. The minimum initial deposit requirement is said to be only $50, while there is no mention of what the minimum withdrawal amount is.

Bonuses

FPG claims to offer some trading bonuses, yet we cannot be sure if the bonus can be withdrawn without any limitation. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

Customer Support

FPG‘s customer support can be reached from Sunday 5 pm EST through Friday 4 pm EST by telephone: Australia: +61 02 8018 4648, Nigeria: +2348160147783, WhatsApp, email: support@fortuneprime.com, live chat or send messages online to get in touch. You can also follow this broker on social media platforms such as Wechat and Twitter. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.

Risk Warning

Online trading involves a significant level of 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 contained in this article is for general information purposes only.