FBK Markets: Is It a Forex Scam? Exposed the Truth! (Latest Update 2023)

FBK Markets
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FBK Markets is a shady forex broker with poor regulatory license and trading conditions. Find out whether you should trade with them or not.
2.9/10 (Expert Score)
Product is rated as #226 in category Consumer Reviews

FBK Markets is an unauthorized as well as untrustworthy broker that deceives traders by impersonating a different business’s image and accreditation. Such dishonest behavior creates serious doubts regarding FBK Markets’ reliability and honesty as an organization. 

Before we get started with this review
Such posts are made possible by the collective efforts of our contributors. If you can provide any kind of insight into FBK Markets or a similar company/individual, then share your information with us using our secured form.

You can help us put a stop to online scams before they grow too big and end up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.

According to the reports, they highly warn about investing with FBK Markets & recommend someone to look into other solutions that emphasize the greatest needs & provide a trustworthy and equitable trading service.

FBK Markets Regulation

It is claimed that professing to be the legal entity of The RCG Markets Ltd, an organization allowed by the state’s Financial Services Conduct Authority, FBK Markets does not have a real forex license. 

Yet, there is no documentation to corroborate the pair’s affiliation, implying that FBK Markets could be abusing RCG Commodities’ license with necessary authorization.

Remember that dealing with an unregulated and illegal broker, such as FBK Markets, might put your assets and wealth in danger.

It is strongly advised to look into the top brokerage listed in trustworthy countries in the table to guarantee the security and safeguarding of your investments. 

The brokers mentioned above have proven themselves as trustworthy industry institutions, adhering to high legal requirements while providing their customers with a secure dealing atmosphere.

Guaranteed Funds Segregated AccountsNegative balance protection 
FBK Markets No No No 

FBK Markets‘ Trading Platform

Although FBK Markets does provide the well-known & powerful MetaTrader 4 trading scheme, it is also vital to assess the brokerage’s general credibility and dependability. 

Our Methodology

We look at 34 different data points when analyzing and rating online money-earning opportunities. Once the research on these data points is submitted, expert contributors reach out to the company’s customers and associates to get more insight into their operation. Finally, all the collected information is presented in the form of this expert review.

All the data is extracted from publicly available information and the sources are given in the transparency section at the bottom of every report.

These reports are made possible by the collective efforts of contributors like you. If you would like to become a contributor then contact us here.

9/12/2023 Update
As of now, FBK Markets has not responded, nor has it apologized for its misdeeds. They have ignored our efforts to highlight the problems faced by their victims. Furthermore, they have only focused on propagating their fake PR.

Regardless of the caliber of the investment program, choosing an untrustworthy brokerage like FBK Markets may damage the value of your investments. Thankfully, there are various trustworthy traders on the market who not only provide the MetaTrader platform but additionally emphasize their customer’s security and privacy.

These intermediaries have proved themselves as reliable businesses, offering a variety of tools and governmental safeguards to safeguard your best interests.

Advanced tools Auto trading Custom indicators Mobile versions 
FBK Markets platform 30+ Indicators Yes YesAndroid and IOS
MT430+ Indicators YesYesAndroid and IOS
MT550+ IndicatorsYesYesAndroid and IOS
cTrader40+ IndicatorsYesYesAndroid and IOS

The Minimum Deposit Requirement of FBK Markets

It states that their initial deposit limits are appropriate throughout all account categories. The Standard, Bonus100, Zero Spread, & ECN accounts, according to the data that was stipulated, demand a minimum opening amount of $100, while the small-sized bank has an even smaller initial investment of $20.

What is a Pyramid Scheme?

A pyramid scheme is a type of investment fraud that is not sustainable. The scheme involves making unrealistic promises about returns from investments that do not exist. Early investors may receive large payouts, which encourages them to recommend the scheme to others.

Payment Methods at FBK Markets

This broker accepts a range of payment methods for deposits and withdrawals. Credit cards or Debit cards that include Visa Card & MasterCard, along with the South African monetary system Ozow, are among the available alternatives.

Deposit time Withdrawal timePrice 
Ozow Instant Upto 5 business days Not Specified
Credit CardInstant Upto 5 business daysNot Specified 

Their Trading Instruments

The forex broker provides a comprehensive choice of instruments for trading to appeal to various investing tastes. For instance, the broker offers various indices and commodities to its customers for trading.

Their Spreads:

FBK Markets promises ultra-low margins beginning at 0.0 pips. Although favorable margins may entice investors, it is critical that they use prudence & undertake extensive research, particularly if interacting with a completely unregistered brokerage such as FBK Markets.

FBK MarketsFXTM FP MarketsXM
Spread EURUSDNot specified0.41.01.1
Spread GBPUSDNot specified0.71.21.3
Spread USDJPYNot specified0.71.21.3

Their Leverage:

FBK Markets claims to offer a ratio of leverage as high as 1000:1. Although this may appear enticing, it is critical to proceed with prudence when dealing with large pressure. Excessive leverage can increase both potential earnings and damages, resulting in a two-edged sword.

Currency Stocks Crypto Gold Indices 
FBK Markets 1000:1No No Not specified Not Specified 

Their Withdrawal Requirements:

Merchants ought to be informed that FBK Markets has a $100 minimum withdrawal value, which may be unpleasant to traders who attempt to withdraw lower amounts. It is also important to note that the withdrawal procedure may require up to 48 hours during the day.

In addition, the broker maintains the authority to impose withdrawal as well as deposit charges at any point in time.

Pros Cons 
MT4No legit Forex license 
Nontransparent trading requirements
Unfavorable withdrawal constraints
Anonymous websites 

FBK Markets Reviews

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According to Wikifx, it is clear that this firm i.e. FBK Markets has no valid regulation. Everyone has to be aware after investing any amount in this organization. The survey stated that the reviews of this organization have reached one negative aspect.

If you have sensitive information or have had a personal experience with FBK Markets but want to stay anonymous, then submit it using our secured form. You can connect with our expert contributors and help in finding the truth. We never share your information with 3rd parties.

According to the South Africa FSCA regulation reports, the clone has been suspected under license number 49769. 

WikiFX is a worldwide forex broker legal inquiry platform that has studied & evaluated over 40,000 providers while working closely with more than 30 governments worldwide. Under this site, FBK Markets is a properly designated juristic affiliate of RCG Markets Ltd, and it is an approved Financial Services Service provider under the financial sector Assistance or Brokerage Facilities Act No 37 of 2022. 

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  • Market instruments- Forex pairings, indices, bonds, & commodities are among the investment products available here. It does not engage in bitcoin trading, unlike several of its competitors.
  • Trading platform- The broker presently exclusively provides its trading clients with the MT4 platform.
  • Account types- As indicated below, it offers five different types of accounts:
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Clients’ Reviews:

  • According to the comments, one of FBK Markets’ clients alleges that he waited for the money to be withdrawn for several days but it never came. When another trader examined the broker, he produced an unexpected dilemma. He expected to receive his money the next day, but he also requested some profits. However, the trader company’s customer service, FBK Markets, was unable to assist him, and his money was taken away after a week. Fraudulent! Scam! 
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  • Another consumer reports that his payment has been stolen. He has been waiting for nearly a week and has not received any money from the company that traded. It’s completely unprofessional! Total rip-off! Beware! 
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About The Broker 

FBK Markets is a trading company that has been around for around 1-2 years. This business has been registered in South Africa. The greatest leverage available is 1:1000. It is a forex & CFD broker situated in South Africa that was launched in 2018. 

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The firm provides execution services for a wide range of economic products, such as FX, equities, indicators, & metals. FBK Markets uses the renowned MetaTrader 4 platform and offers a variety of account kinds with attractive dealing circumstances, such as substantial leverage & narrow gaps. 

The broker also offers a variety of instructional tools and several customer assistance channels.

Conclusion 

The report declines to endorse this broker because it is a hazardous broker without a license or regulatory status. Given the abundance of forex dealers in the marketplace with higher credibility, licenses, and governmental statuses, traders who intend to trade using FBK Markets ought to thoroughly investigate the options they have.

2.9Expert Score
Dangerous

FBK Markets is a dangerous forex broker with too many red flags. They offer an extremely high leverage and have poor trading conditions. Beware.

Trust
2.5
Experience
3
Trading Conditions
3
Customer Service
3
Pros
  • None
Cons
  • Extremely high leverage
  • Received too many complaints
  • Shady trading conditions
FBK Markets: Is It a Forex Scam? Exposed the Truth! (Latest Update 2023)
FBK Markets: Is It a Forex Scam? Exposed the Truth! (Latest Update 2023)

10 Comments
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  1. I don’t get this. Why no one does anything about these fraud people? They do not deserve to be trusted. They are a scam. Such fraud brokers buy fake PR reviews to deceive innocent people. Never believe them. They are liars.

  2. Such a broker can never be trusted. This is risky. It is best to stay away from such illegal brokers. This is a scam. No one can ever have a profit by investing in such a fraud broker.

  3. This is a good article. Everything has been explained well in this. This is true that these people are big liars and also the advertisements are fake because whatever they claim in their ads is a complete lie. My friend also got scammed when she invested with a fraud broker. She lost all her savings in that.

  4. This is sick. I will suggest everyone go for some other forex broker as this broker is not at all legit. They don’t even have a regulation. Trusting this broker will make you lose all your money.

  5. Please guys stay away from these fraud brokers. Do not believe them at all because these people buy fake PR reviews and they can never be trusted. All these positive reviews have been bought. None of the reviews are real. These fraud brokers buy fake reviews so that they can easily deceive others.

  6. Such fraud brokers deserve to get a harsh punishment. I don’t understand why the government does nothing about it. These people are scamming so many innocent people and ruining their lives but the government is not taking any strong action to stop these criminals.

  7. Such scam brokers should get punished. Why they are not stopped from doing such scams? This is horrible. These people don’t even have a legit license. These people are scammers and not at all trustworthy.

  8. These fraudsters should be ashamed of themselves. What they do to satisfy their greed is horrible. Ruining so many lives and being happy with that. Are they even human? These people have lost humanity. They should get punished.

  9. Such criminals deserve to get punished otherwise they will keep on ruining more lives. I will suggest everyone stay away from such fraud forex brokers. Forex scams are on the rise. Make your family aware as well of such scams. So that they also stay safe from such scammers.

  10. What the hell is the media doing? Why they do not expose these forex scammers? It is their job to show the public such important issues that ruining so many lives but they are more focused on showing some rubbish news all day.

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