High Leverage Alert: Beware of the Anonymous FX Broker FXPD

However, evidence tells that's totally untrue. Here Brokers review found that FXPD is a scam who is using the ways to fraud traders.

Lack critical regulatory certifications

FXPD leaves out critical information. There is no section on the website that it cares to disclose if it is licensed or not as it presents no any regulatory certifications or governmental registrations. It ignores the rules that the regulatory bodies have put in place to defraud innocent people. As a trader, you definitely know the basic point: all good brokers are not only registered but will provide their credentials and help you verify they are registered and regulated.

An anonymous broker

FXPD claims it is a forex leading broker, providing traders with access to the global forex market, but the disclosures at the top and bottom of the homepage give the appearance of an unregulated broker. In other words, FXPD is an anonymous company, providing no information about the company that controls it. The only thing you know about it is a contact email. Except its email address, the firm's contact information, including phone and physical address, is currently not available.

Risky leverage up to 1:1000

FXPD offers leverage up to 1:1000 on its Standard STP Account, but actually it will not up to 1:100 on forex majors if a broker is legitimate. To some extent, that helps confirm FXPD is an unreliable broker - trading with high leverage could lead to much bigger losses since it enables you to make bigger offers.

All these red flags prove that you will be dealing with a rogue scheme.

You should always make sure to trade with licensed companies. If you are aware of suspicious activities, or believe you have been defrauded.