Is FP Markets an reliable offshore broker?

I’m from Austria and looking to go live with a ECN broker that offers high leverage. I’ll be mainly scalping in Intraday.

I have shortlisted FP Markets as their ECN spreads are the lowest. However, i don’t want to signup with their cysec or ASIC license because of leverage restrictions.

They also have an offshore license FP Markets Group - FP Markets, but i am bit skeptical about the regulation/reliability. Will I be able to deposit/Withdraw without any issues? Can anyone trading with their Global license share their experience?

Not one that I am using. How long have they been around? Also what sort of leverage are you looking for?

They are offshore. I would have used the broker some months ago, but I decided to go with Tenkofx. same low spreads and leverage up to 1:500, and have been for more than 7 years. So I trust them more.

I’m from Germany and i use FP Markets for scalping, the leverage offered to offshore brokers are not great but compared to other offshore broker i would prefer FP Markets.

They are one of the older brokers with over 15 years of experience and due to their ASIC and CYSEC regulation it is reliable, trading with FP Markets over a year now did not face any major issues, the withdrawal and deposit process has been effortless.

The leverage offered to offshore brokers is higher, but when compared with another broker FP Markets is actually way better because of their regulation.

FP markets have an offshore license with St.Vincent, and they are active since 2005 under ASIC and CYSEC. which makes it reliable to deposit/withdraw without any issues and even if any issues occur their customer services is quite quick in responding

On one side you don’t want to sign with the regulated bodies and on the other hand skeptical of unregulated stuff (which is right). Let me suggest an easier way out, go for a broker which is flexible with different strategies, is EA-friendly, allows hedging, etc. Some that I have had a good experience with are alpari, fxview and xm. All 3 are low spread cysec-regulated brokers, should work for you.

You can checkout Forexchief for scalping. Amongst other good things, their platform has a one-click feature. There is no freeze-time.

From my personal experience with FP Markets, they have been reliable so far. No major issues have occurred while trading live or during withdrawals.

I am impressed by this broker because I never expected it to be consistent and stable, even during high volatile market news events.