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FOPU (Fopufx.com) is claiming to connect global wisdom with future trading leading to winners. Traders should be wary when dealing with the broker as FOPU is using registration details from an insurance company. FOPU is using details of a company called Future Perfect Financial Solutions Limited. The Insurance Company has no known connection with the brokerage in question. And this is among the many discrepancies we found with the broker. Read this genuine and honest FOPU Review for more details.
According to the company profile, the broker claims FOPU was established in 2004. They go ahead and claim to be a leading provider of independent financial derivative. FOPU is claiming to get real time quotes from FX Market including fund managers and individual traders. Other claims include getting live quotes from international banks and multinational corporations. Scam brokers will do or say anything to entice unsuspecting traders to sign up. And this is why investors need well-grounded brokers with a strong online presence.
FOPU is another online scam broker who will go to extreme lengths to sell their illegitimate platform. The idea of this review is to expose the tricks used by scam brokers. With the number of complaints rising, it is our duty to expose such scams. The trading world should be free and fair to all. Such brokers are making it hard for newbies to succeed in online trading. And this is why no one should sign up. Our investigation has revealed some damning facts on this broker.
The broker claims to offer abundant trading products with superior spreads. The quoted leverage is 1:500 with 48 available trading instruments. Initial capital for trading with FOPU is set at $100 which is below the acceptable standard of $100. Such brokers go for a lower asking price to entice newbie traders. Traders who don’t know the acceptable minimum deposit will go for a broker with a lower price.
A broker who claims to have been in the industry for over 15 years should be recognized. The entire website has no details of the names of the founding members. We also don’t have the names of the people running the day to day business of the firm. And this is an indication we are dealing with an anonymous platform. Recovering any funds from such a broker is next to impossible.
FOPU is lying about their trading history as records of their creation reveals. According to the trusted domain register whois.net, the website was recently created. Information reveals the website was created on 6th April 2020. It means the broker is barely two months in and already complaints are floating the web. Thanks to domain registers, we can now know the reputation of a broker. Claims of being in the industry since 2004 are quickly refuted by the online register. And this is how you expose a scam broker trying to buy their online reputation with false claims.
A closer look at their company profile page reveals a number of damning details. The broker is using license and registration details of an Insurance company. On one hand, they claim to be licensed by ASIC and regulated by Canada’s Financial Intelligence Unit. These are false claims as the Australian Regulator does not license brokers who offer services to other jurisdictions. And this is one of the many reasons why investors should stay away from this ridiculous broker.
FO PU is openly stealing corporate information of a legit firm and using them on their website. Most European regulators are planning to issue an alert over the broker. They include BaFIN, CONSOB, and FCA. Most of the victims are from Europe where the broker has been targeting unsuspecting investors.
The broker is using two account types on their platform. FOPU is furnishing members with ECN and STP account types. ECN account holders get leverage of 1:100 while STP holders get 1:400. Apart from the leverage, all other features in the accounts are the same. These accounts also come with a 14 day trial demo account which is not enough.
FO PU is using an email support team as their main communication channel. They have also listed a UK phone number as part of their contact details. The problem with the phone number is it rarely goes through. And this is notable with virtual phone numbers. Scam brokers will never give out their actual contact details and thus, use VOLP. The email channels are not efficient as they may not respond on time. A true broker will offer live chat support to help ease any communication problems.
The broker is offering a 14 day trial demo account. FOPU has come up with their own custom made demo account that is not up to standards. In most cases, the broker has made sure traders who use the demo account get favorable results. And this is where the investor makes the decision of signing up and depositing funds.
One of the victims claimed they were sent an email with a bank account number. After signing up, the email is sent with details where traders should deposit their funds. And this is a huge problem as the scam brokers will not refund anyone. They claim the funds are for services offered and not for a scam website. And this is why withdrawing or recovering funds is next to impossible with the broker.
The broker is claiming to offer MT5 trading platform which is far from the truth. Our investigators have learned the broker is using a custom built platform. The problem with custom made terminals is lack of proper testing from experts. And the results are evident as members claim of having an unstable platform. The platform is not compatible with mobile devices and executing trades at a slow pace. Security is also an issue as their custom made platform lacks vital security software.
When it comes to how safe funds are wit this broker, the complaints are enough to reveal a pattern. FOPU is not segregating accounts as dictated by trading regulations. The platform is pooling funds in one account which is against trading rules. Members have been depositing funds straight to owner’s bank account. And this is the reason why the broker chooses to send an email with bank account details. Withdrawing funds is also a problem which means no one will benefit from this platform.
After reviewing all the data, it is clear FO PU is a scam. None of the members have been able to withdraw funds for weeks. The platform is a few weeks old and already complaints are going round the web. It is best to stay away from the platform as most of the services are false. The broker is using false registration details from an insurance company. And this is why it is best to stay away from this illicit trading platform. These are scam brokers who have nothing else to do but steal from unsuspecting investors and traders.
We have to add this broker to our scam blacklist and ensure no one else falls for this trap. These are scam brokers who will do anything to try and get members to sign up. Warn your family and friends from joining any of their affiliate programs. Mark any promotional email as spam and block any calls from their agents.
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