Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
6/10 · HighHolds a genuine FSC Mauritius Investment Dealer (Full Service Dealer) licence plus a MISA Comoros registration, both verified on the issuers' registers, but offshore-only with no tier-1 oversight and no compensation scheme; MISA gives little real protection.
Identity & transparency
3/10 · LowOpenly discloses its entities, ownership (Sofdiv Services, Dubai), named executives and FundedNext link, all corroborated by registers and press; minor complexity from multiple offshore entities and a move to a second main domain.
Withdrawals & conduct
4/10 · ModerateSome deposit-crediting and bonus-account withdrawal complaints exist, but many are resolved and numerous reviewers confirm successful, fast withdrawals; no verified fund-integrity denial pattern and no advance-fee demands.
Reputation
5/10 · ModerateNet-positive Trustpilot rating (4.2 from 110) and mainstream press coverage, but the review base is partly driven by a no-deposit bonus campaign and third-party aggregator scores are low.
Website claims
3/10 · LowClaims are largely accurate: it discloses its offshore MISA licence and FundedNext heritage, with no fabricated tier-1 or fake-award claims; some ordinary marketing puffery.
Operational history
4/10 · ModerateParent group FundedNext and the primary domain date to 2022, but the brokerage arm itself only launched in May 2025, so the live track record as a broker is short.
Who they are
A quick desk file on the company behind the brand.
- Brand: FNmarkets
- Legal entity: FNmarkets LTD (Comoros, company no. HT01124135) operates the website; FNmarkets (Mauritius) Ltd holds the Mauritius dealing licence.
- Group: Brokerage arm of FundedNext; ultimate beneficial owner Sofdiv Services L.L.C-FZ, Dubai, UAE; CEO Syed Abdullah Jayed.
- Registered: Bonovo Road, Fomboni, Island of Moheli, Comoros Union; physical office listed in Limassol, Cyprus.
- Website: fnmarketsglobal.com (main) and fnmarkets.com.
- Only licences: FSC Mauritius Investment Dealer (Full Service Dealer) and MISA Comoros registration BFX2024210. No tier-1 licence.
- Offers: CFDs on forex, metals, indices, commodities and crypto on MetaTrader 5; Standard, Raw and Islamic accounts; leverage up to 1:500; minimum deposit 50 USD.
- Not accepted: no FCA, ASIC, CySEC or comparable tier-1 authorisation.
- Age claim: markets a '3+ years' legacy via FundedNext; the trading brand itself launched in May 2025.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Services Commission (FSC), Mauritius
Mwali International Services Authority (MISA), Comoros
Why we reached this verdict
How the evidence adds up.
We rate FNmarkets high risk rather than safe, while clearing it of any scam or fraud finding, for these reasons:
- The licences are real. The FSC in Mauritius lists FNmarkets (Mauritius) Ltd with an Investment Dealer (Full Service Dealer) licence dated 12 August 2025, and the Mwali registrar lists FNmarkets LTD under registration BFX2024210 as active. Neither is fabricated or borrowed from another firm.
- But the protection is weak. Both licences are offshore. MISA in the Comoros is not a recognised financial supervisor, and even the Mauritius dealing licence carries no investor compensation scheme of the kind tier-1 regulators provide. If a dispute arises, recovering funds is difficult.
- The operator is real and open. FNmarkets is the brokerage arm of FundedNext, a large proprietary trading firm founded in 2022. Ownership traces to Sofdiv Services in Dubai and to CEO Syed Abdullah Jayed, and mainstream industry media covered the launch. This is not an anonymous shell or a clone of another brand.
- The brokerage arm is young. The trading brand launched in May 2025. A short live track record means less to go on, and a portion of the strong review count comes from a no-deposit bonus campaign rather than long-term clients, so we do not treat the clean impression as settled.
- Complaints exist but show no theft pattern. Most reviews are positive and describe successful, often fast withdrawals. The negatives are mainly deposit-crediting delays and no-deposit-bonus withdrawal friction, and support frequently resolves them. We did not find a repeated, verified pattern of deposits being taken and withdrawals then refused, and we found no demand for extra payments to release funds.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The FSC Mauritius Online Public Register lists FNmarkets (Mauritius) Ltd holding a SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence dated 12 August 2025, management company AllServ Management Ltd, status company is incorporated.
E2The Mwali (MISA) registrar verification page lists FNmarkets LTD, Comoros company number HT01124135, licence BFX2024210, issued 20 November 2024, status Active, CEO Syed Abdullah Jayed, ultimate beneficial owner Sofdiv Services L.L.C-FZ in Dubai.
E3Domain records show fnmarkets.com registered 16 September 2022 (GoDaddy) and fnmarketsglobal.com registered 8 November 2024 (NameCheap), both on Cloudflare nameservers.
ModerateVerisign RDAPE4Industry coverage confirms FNmarkets is the CFD brokerage arm of the prop firm FundedNext, launched in May 2025, sharing leadership with FundedNext and hiring dealing-desk executives.
StrongTradeInformerE5The broker's own site footer discloses FNmarkets LTD, the MISA Comoros licence, a Comoros registered office, a Limassol (Cyprus) physical address and payment processor SofDiv LTD, and states it is built on the FundedNext legacy.
E6Trustpilot shows 4.2 out of 5 from 110 reviews (72 percent 5-star, 16 percent 1-star), with many reports of fast, zero-fee withdrawals; negatives centre on deposit-crediting delays and no-deposit-bonus withdrawals, several resolved by support.
ModerateTrustpilotE7Regulation is offshore-only: an FSC Mauritius dealing licence plus a MISA Comoros registration, with no tier-1 authorisation and no investor compensation scheme protecting client deposits.
E8The MISA verification record shows a one-year term running to 20 November 2025 while the main list marks the entry Active; MISA is an autonomous-island registrar rather than a recognised financial supervisor.
E9The FNmarkets trading brand launched in May 2025, and a share of its 5-star reviews cluster around a 50 USD no-deposit bonus campaign, so the live broker track record is short and the positive review base is partly incentivised.
ModerateTradeInformerE10The current main domain fnmarketsglobal.com was registered in November 2024 and still served a parked page in mid-2025, indicating it was activated as the broker's main site only recently.
WeakWayback Machine
The other side
The strongest case in this broker’s favour.
The honest case that FNmarkets is a reasonable choice:
- It holds a genuine Mauritius Investment Dealer licence, confirmed on the regulator's own register, which is more than many offshore brands can show.
- It is backed by FundedNext, one of the better-known proprietary trading firms, with named executives and real media coverage rather than stock photos and invented awards.
- Independent Trustpilot reviews average 4.2 out of 5, and multiple customers report fast, zero-fee withdrawals.
- The company replies to complaints and appears to resolve deposit and login issues.
- There is no clone, no warning that names this website, and no fabricated tier-1 claim.
What would change this
What we would need to see to revise the verdict.
What would move our view in either direction:
- Toward safer: a licence from a tier-1 or strong tier-2 regulator (for example the UAE authorisation reported as pending at launch, or an EU or UK licence), together with a longer clean track record as a live broker.
- Toward higher risk: a government regulator publishing a warning that names fnmarketsglobal.com or fnmarkets.com; a verified, repeated pattern of refused withdrawals or demands for extra payment to release funds; or the Mauritius or MISA registration lapsing while the site still advertises it.
- A change of ownership away from the disclosed FundedNext group, or loss of that backing, would also raise concern.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
FSC Mauritius Register of Licensees
Search 'FN' to see FNmarkets (Mauritius) Ltd and its Investment Dealer licence.
MISA (Mwali) licence verification for FNmarkets LTD
Shows the Comoros registration BFX2024210 and its status.
FNmarkets official website
The broker's current main site.
FNmarkets reviews on Trustpilot
Independent customer reviews for fnmarkets.com.
Frequently asked questions
Quick answers about this broker’s safety.
Is FNmarkets a scam?
No, we did not find evidence that FNmarkets is a scam. It holds two genuine offshore licences and is the brokerage arm of the prop firm FundedNext. It is, however, an offshore-only broker with weak client protection, so we rate it high risk rather than safe.
Is FNmarkets a fraud?
We found no evidence of fraud: no regulator warning that names the website, no enforcement action, and no verified pattern of stolen deposits. Fraud is a criminal matter, and nothing we found meets that bar. The real issue is weak offshore regulation, not dishonesty.
Is FNmarkets regulated?
Yes, but only offshore. FNmarkets (Mauritius) Ltd holds an Investment Dealer licence from the Financial Services Commission of Mauritius, and FNmarkets LTD holds a MISA registration in the Comoros. It has no tier-1 licence such as the FCA, ASIC or CySEC.
Can I withdraw my money from FNmarkets?
Most reviewers report successful, fast withdrawals, some at zero fee. A minority report delays, usually tied to deposit-crediting issues, identity checks or no-deposit-bonus terms. Complete verification early and read the bonus rules to avoid hold-ups.
Is my money safe with FNmarkets?
Your funds sit with offshore entities in the Comoros and Mauritius, with no investor compensation scheme behind them. That is weaker protection than a tier-1 broker offers. Only deposit what you can afford to lose.
Who owns FNmarkets?
FNmarkets is the brokerage arm of the FundedNext group. Its ultimate beneficial owner is listed as Sofdiv Services L.L.C-FZ in Dubai, and its CEO is Syed Abdullah Jayed, who also leads FundedNext.
Is FNmarkets connected to FundedNext?
Yes. FundedNext, a prop firm founded in 2022, launched FNmarkets as its CFD brokerage in May 2025. They share senior leadership but are described as separate entities with separate funds.
How old is FNmarkets?
The FNmarkets brokerage launched in May 2025, so it is young as a broker. Its main brand domain and the FundedNext parent group both date to 2022.
What is a MISA (Comoros) licence worth?
Very little on its own. MISA is an autonomous-island registrar, not a recognised financial supervisor, and offers minimal real protection. Treat a MISA registration as a sign of intent to look regulated at low cost, not as strong oversight.
Is the FSC Mauritius licence real?
Yes. The FSC's own public register lists FNmarkets (Mauritius) Ltd with an Investment Dealer (Full Service Dealer) licence dated 12 August 2025. Mauritius is a real regulator, though still an offshore, mid-tier one.
Is FNmarkets a clone of another broker?
No. The name, the licences and the ownership all trace to the same FundedNext group, and it does not impersonate another firm or use another company's licence number.
What should I check before depositing with FNmarkets?
Verify both licences on the official registers, read the withdrawal and bonus terms, confirm which entity you are contracting with, start with a small deposit, and keep all transaction records. If a compensation scheme matters to you, choose a tier-1 regulated broker.
What we recommend
The practical takeaway from everything above.
For readers weighing a deposit:
- Treat FNmarkets as an offshore, higher-risk broker. Only risk money you can afford to lose, and start with a small amount.
- Check both licences yourself on the official registers before depositing, and read the withdrawal and bonus terms closely.
- Keep records of deposits, tickets and chat logs, and complete identity verification early to reduce withdrawal delays.
- If capital protection and an investor compensation scheme matter to you, choose a tier-1 regulated broker instead.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 24, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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