Fbrokerpro – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Fbrokerpro - DO NOT TRADE WITH THIS PROVIDER
2.2/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://fbrokerpro.com
Founded: 2022
Regulations: Not Regulated
Languages: English
Deposit Methods: Unspecified
Minimum Deposit: Unspecified
Free Demo Account: No
Number of Assets: 140+
Types of Assets: Forex, Metals, Indices
Trading Accounts and Conditions
Fbroker pro has a separate page for account types, however, there are no details about the trading conditions for each type mentioned anywhere. We know that this broker offers you three types of trading accounts: Fixed Account (which has a fixed spread), the ECN Account and the Swap Free Account (also called the Islamic Account).
It is only from their home page that we get some information about the broker’s trading conditions. We find out that the spreads are supposedly low (but we do not know how much the spreads are), that order execution speeds are at 0.01 seconds, and that the leverage ratio is set at a maximum of 1:200.
We were unable to verify any of this information for ourselves.
Fbrokerpro – Advantages
There are no advantages to trading with Fbrokerpro.
Fbrokerpro – Disadvantages
Given below are all the reasons why we say that Fbrokerpro is a scammer:
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Issues with Regulation Status
The first sign of a scam is a lack of regulation. And this is what we check for first when we review a new forex broker. So, we checked Fbrokerpro’s regulation status – and found it wanting.
On their homepage, this broker provides us with an address in North Macedonia, and a telephone number with the same country code. The broker also claims to be a member of the International Finance Commission, which is an independent arbitrator of financial markets disputes.
Now, here are the red flags: we do not know the name of the company that runs this online brokerage. We also checked North Macedonia’s regulator’s, the Securities and Exchange Commission of the Republic of North Macedonia, online register. We found that there is no broker or company by the name of Fbrokerpro listed with them.
We also verified Fbrokerpro’s claim of being a member of The Finance Commission. This too proved to be a lie – there is no broker by this name listed with that body.
All of our investigations in this broker’s regulation status have shown us that we are dealing with an anonymous and unregulated broker, i.e., a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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No Legal Documents
Fbrokerpro doesn’t have any legal documents at all. There are no Terms and Conditions, Privacy Policy document, KYC Document and so on anywhere on their website.
These legal documents are a mandatory requirement for regulated brokers – they spell out the contract between you and the broker. Without them in place, you don’t know what the broker offers you in terms of their service offerings, the cost of those services, the policies around said services and what your rights are as a customer using those services.
Scammers rely on the tendency that most of us have to get away with not providing legal documents – that we simply blindly click on the I Agree button of the terms and conditions without actually checking those documents. And that is how we end up getting scammed. This is the reason why it is strongly recommended that all traders read through all the legal documents before signing up with a new broker – this simple step saves you from being scammed.
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Lies About Trading Software
On their website, Fbrokerpro claims to offer two of the world’s best trading platforms – the MetaTrader 4 and the MetaTrader 5 trading software. Had this been true, it would have been a huge win for this broker. These two trading platforms are used by the majority of traders and brokers around the world.
However, when we checked the link that Fbrokerpro had provided, it turned out to be a link that led us to the MetaQuotes website. This is the software developer that created these two trading platforms. The software presented to us by this broker is simply the demo software available on the developer’s website – which is only meant to showcase what these trading platforms can do. The software doesn’t really have the ability to carry out live trades.
So, this claim too turned out to be another lie.
And since we were unable to register for an account with them, we could not check for ourselves to see if they really had a trading platform or not.
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Unable to Register for an Account
While this may seem like a minor issue, we need to raise a concern about the fact that we were unable to even register for an account with Fbrokerpro. The broker demanded an identity proof before allowing us to register for an account – the kinds that have too much personal information. We need to point out that it is not safe to submit your personal information to an anonymous and unregulated broker, so we did not go through with the registration process.
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Issues with Trading Conditions
Since we could not register for an account, there are a number of things we could not verify. Among them are the trading conditions offers by this broker. On their website, we only get to know the leverage ratio, which is at 1:200. This itself gives us a warning that this broker is not safe, since it is a very high ratio – and it is illegal in Europe (where the maximum leverage is 1:30).
We also do not know other key pieces of information such as the minimum deposit requirement, the spreads, commissions, and so on. All of which tell us that we are dealing with a scammer.
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Issues with Payments
Once again, since we were unable to register, we could not check what payment options are available since this broker has not offered up this information freely on their website.
This is another red flag that tells us that this Fbrokerpro cannot be trusted.
Conclusion
Fbrokerpro is just another cheap scammer that needs to be avoided.
Fbrokerpro
Pros
- None
Cons
- Issues with Regulation Status
- No Legal Documents
- Lies About Trading Software
- Issues with Trading Conditions
- Issues with Payments
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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