Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
6/10 · HighGenuine Mauritius FSC Investment Dealer licence verified on the register, but a weak low-tier offshore regulator with little investor protection.
Identity & transparency
3/10 · LowLegal entity and registered address match the FSC register exactly; branch and payment-agent roles are disclosed honestly.
Withdrawals & conduct
5/10 · ModerateMostly bonus-linked withdrawal friction (service quality) plus one unconfirmed profit 'balance correction' report; no confirmed cross-platform fund-theft pattern.
Reputation
5/10 · ModerateHigh Trustpilot score over 1,100 reviews, but heavily solicited via a paid programme; a minority of specific complaints exist.
Website claims
3/10 · LowHonest disclosure of the FSC licence, risk warning and restricted countries; no fake tier-1 or fabricated-award claims.
Operational history
4/10 · ModerateVerified operating history of about three and a half years (domain 2022, licence 2023), which is relatively young.
Who they are
A quick desk file on the company behind the brand.
- Brand: Fotmarkets (Future of Trading)
- Legal entity: FOT Limited, a Mauritius Global Business Company (reg. no. 197062 GBC)
- Registered: Premier Business Centre, 10th Floor, Sterling Tower, 14 Poudriere Street, Port Louis, Mauritius
- Website: fotmarkets.com
- Only real licence: Mauritius FSC Investment Dealer (Full Service, excluding Underwriting), GB23201518
- Also listed: a Dubai DMCC branch (licence 986167) and FOT Solutions Ltd in Cyprus (reg. HE 467822), acting as a payment agent, neither of which is a financial regulator
- Offers: CFDs on forex, metals, indices and other instruments, with bonuses, copy trading and an IB programme
- Not accepted: residents of the USA, Canada, UK-restricted and many other listed countries, including Russia, China, Iran and Japan
- Age: website registered December 2022, FSC licence since May 2023, so roughly three and a half years old
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
Mauritius Financial Services Commission (FSC)
Dubai Multi Commodities Centre (DMCC)
Cyprus company registration (FOT Solutions Ltd)
Why we reached this verdict
How the evidence adds up.
The core question, is Fotmarkets a scam, has a clear first answer: no clone and no fake regulator. The concern is that it is a young, weakly-regulated offshore broker with some conduct complaints.
- We searched the Mauritius FSC public register and found FOT Limited listed as an Investment Dealer (Full Service, excluding Underwriting), licensed on 12 May 2023, with the same Port Louis address the website publishes. The entity, licence type and address all match, so this is a real licence held by this operation, not someone else's.
- Mauritius is a low-tier offshore regulator. The licence is genuine, but it gives limited real protection and there is no strong investor compensation scheme behind it.
- We found no entry naming Fotmarkets on any regulator warning or alert list as of August 2026.
- On the largest independent review platform the broker has over a thousand reviews and a high average score, but it runs a paid review programme and invites customers to review, so the volume of short positive comments should be read with caution.
- A minority of reviews describe bonus terms that complicate withdrawals and slow support, and one third-party report describes a 'balance correction' that removed gold-trading profit and returned only the deposit. These are conduct concerns, but they are not a confirmed, cross-platform pattern of stolen deposits.
- Taken together this is elevated risk rather than proven fraud: a verified but weak offshore licence, a young operation and unresolved conduct questions.
Risk-profile adjustment: the evidence-based score was 45%. It is presented as 65% because track record under 3 years (1.8y), which our policy treats as elevated risk regardless of how little was found against this broker.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Mauritius FSC Online Public Register lists FOT Limited as an Investment Dealer (Full Service Dealer excluding Underwriting), licensed 12 May 2023, at Premier Business Centre, 10th Floor, Sterling Tower, 14 Poudriere Street, Port Louis, matching the address on fotmarkets.com. No suspension or surrender annotation.
Hard proofMauritius FSC Online Public RegisterE2The broker's own footer states Fotmarkets is a trademark of FOT Limited, licensed by the Mauritius FSC under GB23201518, with a Dubai DMCC branch (986167) and FOT Solutions Ltd in Cyprus (HE 467822) as payment agent.
ModerateFotmarkets websiteE3The domain fotmarkets.com was registered on 11 December 2022 (Cloudflare registrar), giving an operating history of about three and a half years, consistent with a 2023 licence and not with any claim of long-established history.
ModerateRDAP (Verisign)E4Searches of regulator warning and alert lists returned no entry naming Fotmarkets or fotmarkets.com as of August 2026.
ModerateRegulator warning-list sweepE5Trustpilot shows 1,141 reviews and a 4.5 TrustScore (84% five-star, 4% one-star), with the company replying to 100% of negative reviews, on a claimed profile that uses a paid subscription and invites customers to review.
ModerateTrustpilotE6One-star reviews describe bonus terms that make withdrawals difficult, slow support and extra document requests; the broker responds citing an anti-money-laundering same-payment-method policy and non-withdrawable bonuses.
E7A third-party review site reports a trader whose gold-trading profit was removed by an arbitrary 'balance correction', leaving only the initial deposit of 3,000.75 US dollars. This is a single, unverified account not corroborated across independent platforms.
ModerateThird-party broker review siteE8The Dubai DMCC number (986167) is a free-zone business registration for a branch office and the Cyprus company (HE 467822, incorporated 19 November 2024) is a payment agent; neither is financial regulation, and there is no CySEC authorisation for the Cyprus entity.
The other side
The strongest case in this broker’s favour.
The honest case in the broker's favour is fairly strong on the regulatory point.
- The FSC licence is real and current. We confirmed it directly on the regulator's register, and the registered address matches, which rules out the most common scam pattern of wearing another firm's licence.
- The broker is transparent about its structure: it states plainly that the Dubai DMCC entity is a management office and that the Cyprus company is only a payment agent, rather than passing them off as financial regulation.
- It publishes a clear risk warning, a detailed restricted-countries list and legal documents, and it replies to essentially all negative reviews.
- Most withdrawal complaints are tied to bonus conditions, which are disclosed, and several reviewers confirm successful withdrawals.
What would change this
What we would need to see to revise the verdict.
Our assessment would move in either direction on new evidence.
- Towards lower risk: a longer clean track record, independent confirmation of consistent fast withdrawals, and a shift away from bonus schemes that trap balances.
- Towards scam: a regulator warning naming fotmarkets.com, an FSC enforcement action or licence suspension against FOT Limited, or several independent, specific reports across more than one platform of deposits or profits not being returned.
- A confirmed demand for an extra payment (tax, fee or 'unlock' charge) before releasing funds would be decisive on its own.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Mauritius FSC Online Public Register
Search 'FOT Limited' to see the Investment Dealer licence entry
Mauritius Financial Services Commission
The regulator that issued the GB23201518 licence
Fotmarkets legal and licence disclosure
The broker's own footer stating its FSC licence and entities
Fotmarkets reviews on Trustpilot
Independent per-domain review page
Frequently asked questions
Quick answers about this broker’s safety.
Is Fotmarkets a scam?
There is no evidence that Fotmarkets is an outright scam or a clone. FOT Limited holds a genuine Mauritius FSC Investment Dealer licence that we verified on the regulator's own register. It is, however, a higher-risk offshore broker with a weak regulator and some conduct complaints, so caution is warranted.
Is Fotmarkets regulated?
Yes, but only offshore. FOT Limited is licensed by the Mauritius Financial Services Commission as an Investment Dealer (Full Service, excluding Underwriting), licence GB23201518, active since 12 May 2023. It is not regulated by the FCA, ASIC, CySEC or any other top-tier authority.
Can I withdraw my money from Fotmarkets?
Many users report successful withdrawals, but a number describe delays and obstacles linked to bonus conditions, and withdrawals must go back to the same payment method used to deposit. Avoid bonuses if you want fewer withdrawal conditions, and test with a small amount first.
Is my money safe with Fotmarkets?
Your money is less protected than at a tier-1 broker. The Mauritius FSC is a low-tier offshore regulator with no strong compensation scheme, so if the firm fails or refuses to pay, your recovery options are limited.
Who owns Fotmarkets?
Fotmarkets is a trademark of FOT Limited, a Global Business Company registered in Port Louis, Mauritius. The group also lists a Dubai DMCC branch office and a Cyprus company, FOT Solutions Ltd, that acts as its payment agent.
How old is Fotmarkets?
The website fotmarkets.com was registered in December 2022 and the FSC licence dates from May 2023, so the operation is roughly three and a half years old. It is a relatively young broker.
What is the Mauritius FSC licence worth?
It is a real licence, and better than a pure company registration, but Mauritius is a weak offshore regulator. It permits the firm to operate but provides much less oversight and investor protection than the FCA, ASIC or CySEC.
Is the Dubai DMCC or Cyprus company a financial licence?
No. The Dubai DMCC number 986167 is a free-zone business registration for a branch office, and the Cyprus company (HE 467822) is only a payment agent. Neither is financial regulation, and the broker correctly presents them as such.
Is Fotmarkets a clone of another broker?
No. The licence, legal entity and registered address on the FSC register all match the website, so this is not a firm impersonating another regulated broker.
Are the positive reviews real?
The broker has a high score on Trustpilot, but it runs a paid review programme and invites customers to review, producing many short positive comments. Treat the volume of praise cautiously and weight specific, detailed complaints more heavily.
What should I check before depositing with Fotmarkets?
Read the bonus and withdrawal terms, confirm your country is accepted, keep records of every transaction, verify your account before funding, and start with a small test deposit and withdrawal.
What do I do if Fotmarkets will not release my funds?
Gather your deposit and withdrawal records, file a complaint with the Mauritius FSC, and ask your bank or payment provider about a chargeback. Be wary of 'recovery' services that ask for an upfront fee, which are usually a second scam.
What we recommend
The practical takeaway from everything above.
Treat Fotmarkets as a real but higher-risk offshore broker, not as a safe tier-1 option.
- Understand that a Mauritius FSC licence offers far weaker protection than an FCA, ASIC or CySEC one, and there is no strong compensation scheme if the firm fails.
- Be very careful with bonuses, which are the source of most withdrawal complaints, and read the withdrawal and bonus terms before depositing.
- Keep records of deposits, trades and withdrawal requests, and start with a small amount to test the withdrawal process.
- If funds are withheld, complain to the Mauritius FSC and to your payment provider.
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 August 24, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.