FXPB is the short form of FX Profit Broker that claims to be trusted, unambiguous and fair brokerage services provider. It further claims to be regulated by CySEC and FCA. It promises to facilitate trading on MetaTrader trading platform with the catchy trading environment and true STP trade execution. The above claims of the broker are not true. It is a clone website that uses details of another legitimate broker. This FXPB review is designed in such a way that it will equip readers with all critical information about the broker. Read the full FXPB review here.
The FXPB is a clone broker that targets traders from the European Union. The official address of the broker is London, England based. Being operational from England FXPB must have to be regulated by the Financial Conduct Authority a local financial body of the United Kingdom or any regulator across the EU. Considering this the owner of the brand FXPB Armada Markets UK LTD and Armada Markets Europe LTD fakes its regulation with FCA and CySEC respectively. It also provides a registration number provided by these regulators. Sadly, none of the claims is true. Armada Markets was an Estonian broker that sold its licence to Tickmill in 2015. And Tickmill does not have any association with above-mentioned companies. It is the strategy used by a scam broker named as a clone firm to mislead traders. The broker FXPB claims to provide a well-known trading platform MetaTrader. However, we are unable to confirm this claim. In addition, what spreads offered by this broker are unknown. It does not disclose spreads provided on the official website. The broker claims to offer higher leverages of 1:300. Higher leverage levels are banned in regulated markets as they can occur humongous losses to traders. The required minimum investment to open an account with FXPB is $100. It’s not a high deposit but considering broker’s scam nature we can say it is unacceptable. The payments at FXPB can be made via gateways like bank wire transfer, credit cards, Skrill, Neteller, UnionPay, PSE, Efecty, Yandex and many others. It is also blacklisted by the Financial Conduct Authority of the UK as a scam broker.
Is FXPB scam or legit?
The broker FXPB is a clone firm that uses other legit broker’s identity to scam traders. The trading condition is unclear and poor. Also, MetaTrader is not supported. It is blacklisted by FCA. All of this makes FXPB is a potential scam broker 2020.