Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighHolds a genuine licence in its own name, confirmed on the issuer's register with this exact domain recorded against it, but it is the weakest offshore tier, the Comoros central bank has disavowed island-issued licences, the published term ended 23 January 2026, and the site offers no verification link.
Identity & transparency
5/10 · ModerateEntity, company number, registered address and licence number are disclosed and register-confirmed, and the Cyprus affiliate is registered and active, but the customer agreement is an unusable fragment, the displayed phone is not the number dialled, the Dubai address differs from the group's other published address, and the Cyprus agent disclosure has been removed.
Withdrawals & conduct
4/10 · ModerateNo complaints exist about this website and it holds no client money. The same entity's proprietary trading product draws a recurring minority theme of accounts denied or terminated after an evaluation was passed, alongside pricing and execution gripes, against a large base of customers reporting payment and a 99% reply rate to negatives.
Reputation
4/10 · ModerateThe brand carries a large net-positive independent footprint of 69,549 Trustpilot reviews at 4.5 out of 5 with a credible spread, though reviews are solicited, while the brokerage domain itself has no review presence at all and one third-party directory rates the operation poorly.
Website claims
8/10 · CriticalLeads with a fully licensed brokerage and regulatory peace of mind on the strength of a near-worthless registration, promises immediate funding and same day withdrawals for a service with no cashier, contradicts its own group's statement that the company does not act as a broker, and gives two different instrument counts on one page.
Operational history
4/10 · ModerateAbout three years of verifiable track record from a 2022 group domain and a Cyprus company incorporated 5 September 2023, treated as an upper bound because the Comoros contracting entity cannot be dated, with the brokerage site itself only live since February 2024 and never operational.
Who they are
A quick desk file on the company behind the brand.
- Brand: FundingPips (the website's own title renders only as FP)
- Legal entity: FundingPips Corp, a limited liability company of the Comoros Union, company number HY01223081
- Registered: Bonovo Road, Fomboni, Island of Moheli, Comoros Union
- Also named: FUNDING PIPS SERVICES LTD, Cyprus, registration HE 450941, incorporated 5 September 2023, previously named SBRIZZIA HOLDING LTD
- Website: fundingpips.net. The group's proprietary trading site is fundingpips.com
- Stated office: 22nd Floor, Bay View Tower, Business Bay, Dubai
- Only licence: Mwali International Services Authority (MISA), licence BFX2024004, issued 23 January 2024
- Offers: forex, metals, stocks and crypto contracts for difference on MetaTrader 5, four account types, leverage to 500:1
- Not accepted: residents of the United States, Canada and Iran
- Age claim: none. The site advertises no founding year
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
MISA
Why we reached this verdict
How the evidence adds up.
This is a real company with a real licence, and it is not impersonating anyone. What it is doing is advertising a service we could find no trace of in operation, on the strength of a licence that means very little. That combination earns high risk rather than a scam finding.
- The licence is genuine and correctly attributed. The Mwali International Services Authority lists FundingPips Corp at entry 142 of its authorised brokerage companies, licence BFX2024004, issued 23 January 2024, and the register records the website as fundingpips.net. The company number on the register, HY01223081, is the number the site publishes. Name, number, website and registered address all agree, so this is the licensee's own licence and not a borrowed one.
- The licence is worth very little, and its published term has run out. MISA is the registrar of the autonomous Comoros island of Moheli, not a functioning supervisor, and the Comoros central bank has publicly disavowed licences issued by the island authorities. There is no deposit protection and no compensation scheme. The issuer's verification record for BFX2024004 gives a licence end date of 23 January 2026 and publishes no renewal, while the register list still shows the status as active. The site meanwhile still leads with the claim of a fully licensed brokerage.
- The advertised brokerage has no machinery behind it. Across the whole life of the site, fundingpips.net has only ever carried seven pages: a home page, downloads, contact, sign up, and three policy pages. There has never been a login, a client area, a deposit page or a withdrawal page. The sign-up route is a three-field form that posts back to the same page, with no identity checks and no funding step. Yet the site promises same day withdrawals, immediate funding, and that you can fund your trading account using a wide range of funding methods.
- The same company says elsewhere that it is not a broker. On the group's main site, the legal notice states that all accounts provided by FundingPips are demo accounts operating exclusively in a simulated trading environment, that the simulated trading services are provided by FundingPips Corp, and that the company does not act as a broker, custodian, or financial intermediary. Two websites of one legal entity say opposite things about the same business. We treat the absence of any brokerage machinery and this admission as two views of a single conclusion rather than as two separate findings, which is part of why the score sits in the middle of the range and not higher.
- Smaller things point the same way. The customer agreement begins part way through a document, at a termination clause, and names no contracting party, no governing law and no deposit or withdrawal terms. The phone number shown on the page is not the number the link dials. The Dubai address here, Bay View Tower, is not the Dubai address the group publishes elsewhere, which is IFZA Business Park. A disclosure naming the Cyprus business agent, present in the footer in December 2024, has since been removed. Counters on the home page sit at zero, and the page offers both 200 and 2,100 as the number of tradable instruments.
- What keeps this well short of a scam finding. No regulator warning list names FundingPips or fundingpips.net, and we found no enforcement action and no fraud-related court record against FundingPips Corp. There is no crypto-only wallet funnel, no messaging-app account managers, no guaranteed-profit promise and no invented award. The downloads are the standard MetaQuotes files rather than a self-hosted installer. The Cyprus affiliate is registered and in good standing. The wider group has a large and independently visible customer base.
- On age. The oldest domain in use dates to 6 September 2022 and the oldest company we could date was incorporated on 5 September 2023, which puts the track record at about three years. That figure is an upper bound, because the Comoros contracting entity cannot be dated from any published register. The brokerage website itself only dates to 6 February 2024, two weeks after the licence was issued.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The issuer's register lists FundingPips Corp at entry 142 of its authorised brokerage companies, licence BFX2024004, issued 23 January 2024, status active, with the website recorded as fundingpips.net. Name, licence number and domain all match the operation, so the licence is its own and not borrowed.
E2The issuer's verification record for licence BFX2024004 gives company number HY01223081, a licence issue date of 23 January 2024 and a licence end date of 23 January 2026, with the website fundingpips.net. The record itself is dated 27 November 2024 and no renewal is published, while the site continues to advertise a fully licensed brokerage.
E3The home page leads with trading forex with a fully licensed brokerage and promises regulatory compliance and peace of mind, 500:1 leverage, four live account types with per-lot commissions, same day withdrawals, immediate funding, and a four-step process ending in funding your account. The footer discloses FundingPips Corp, Comoros company HY01223081 and licence BFX2024004, and publishes no verification link.
E4The group's main site states that all accounts provided by FundingPips are demo accounts operating exclusively in a simulated trading environment, that the simulated trading services are provided by FundingPips Corp, that the company does not act as a broker, custodian, or financial intermediary, and that program fees are not deposits and do not represent client funds. This is the same legal entity that the brokerage site presents as a licensed broker.
E5The complete archived address inventory for the domain shows that fundingpips.net has only ever carried seven content pages: home, aml-policy, contact-us, customer-agreement, downloads, privacy-policy and sign-up. No login, client area, deposit, cashier or withdrawal page has existed at any point in the site's life.
E6The only account-opening route on the site is a form asking for a first name, a last name and an email address, which submits back to the same page. There is no identity-check step, no account-type selection and no funding step.
E7The customer agreement begins part way through a document, at a termination clause, and runs to about 3,300 characters. It names no contracting company, no governing law and no jurisdiction, and contains no deposit, withdrawal or client-money terms, despite the site soliciting account applications.
E8The brokerage domain fundingpips.net was registered on 6 February 2024 through GoDaddy, two weeks after the Comoros licence was issued on 23 January 2024, and expires in February 2027.
E9The group's flagship domain fundingpips.com was registered on 6 September 2022, some seventeen months before the brokerage domain, which makes it the oldest domain in use by this operation.
E10The Cyprus Registrar of Companies confirms FUNDING PIPS SERVICES LTD, registration HE 450941, a private company registered on 5 September 2023 and currently in registered standing, and records SBRIZZIA HOLDING LTD as a previous name of the same registration.
E11The footer of the brokerage site in December 2024 disclosed that some services may be provided by business agents, naming FUNDING PIPS SERVICES LTD, Cyprus registration HE 450941, at Dimitriou Karatasou 15, Strovolos, Nicosia. That disclosure ties this website to the group's Cyprus affiliate, and it has since been removed from the live footer. The copyright line also read FundingPips Corp at that time and now reads only FundingPips.
E12Trustpilot hosts no profile for fundingpips.net at all. The group's proprietary trading site carries 69,549 reviews at 4.5 out of 5, with 82% five-star, 7% four-star, 2% three-star and the balance at one and two stars, 35,917 reviews in the last twelve months, a reply to 99% of negative reviews, and reviews solicited by the company under a paid subscription. The listed contact address is Premises No. 19948-001, IFZA Business Park, Dubai.
E13Recent one-star reviews of the group's proprietary trading product describe a recurring pattern of accounts permanently banned after a challenge was passed or during identity checks, including one account closed over a forgery flag after a passport, bank statement and liveness check were submitted, and one where a live account was never issued after both phases were completed. Alongside these sit pricing and execution complaints about spreads on metals, order sync and stop-loss handling. The company replies to most of them.
E14Industry reporting on 17 March 2025 recorded that FundingPips regained MetaTrader 5 access after buying a licence in the Comoros, explaining that about twelve months earlier MetaQuotes had stopped brokers providing the platform to proprietary trading firms, which pushed those firms into acquiring licences of their own. This is the context in which the Comoros licence and this brokerage website appeared.
ModerateTradeInformer broker newsE15A search of the UAE Capital Market Authority's licensed companies register for Funding returns no entry for this operation. The firm holds no UAE authorisation, and it does not claim one, although it publishes a Dubai office address and a UAE telephone number.
E16The contact page gives the office as 22nd Floor, Bay View Tower, Business Bay, Dubai, which differs from the IFZA Business Park address the group publishes elsewhere. The telephone number displayed in the footer, +971 45768545, is not the number the link actually dials, which is +971 04343 2219.
E17The platform downloads offered are the standard MetaQuotes MetaTrader 5 files for each operating system and the official web terminal, not a self-hosted installer or a sideloaded mobile package. No branded trading server is named anywhere on the site.
E18No regulator warning list names FundingPips or fundingpips.net, and we found no enforcement action and no fraud-related court record against FundingPips Corp. The sweep covered the published alert lists of the United Kingdom, the United States, Australia, Italy and Germany, and the international aggregate of member alerts, and it correctly returned numerous other similarly named firms that are listed.
ModerateRegulator warning-list sweep across the published alert lists
The other side
The strongest case in this broker’s favour.
There is a straightforward and largely innocent explanation for what this website is, and it fits the evidence well.
- It is licence and platform paperwork, not a trading venue. In early 2024 MetaQuotes stopped brokers from passing MetaTrader 5 access to proprietary trading firms. Firms in that position responded by buying offshore licences of their own. Industry reporting on 17 March 2025 recorded that FundingPips regained MetaTrader 5 access after acquiring a licence in the Comoros. A licence of this kind is issued to a brokerage company and the registrar records a website against it, so a brokerage-branded site had to exist. fundingpips.net was registered two weeks after the licence was issued, built on an off-the-shelf template, and never given a cashier. On that reading the misleading copy is template text nobody revisited, not a trap.
- It is not a clone, and we tested that properly. The licence, the entity name, the company number, the registered address and the website on the register all match the site. The group's own main site names FundingPips Corp as the provider of its services, and the archived footer here names the group's Cyprus affiliate, which the Cyprus registry confirms as registered and active. Nobody else's credentials are in use.
- The licence may well be current. The register's status column still reads active. It is entirely possible the licence was renewed in January 2026 and only the static verification record lags. We could not confirm a renewal either way, and we have not treated the lapse as settled.
- There is no mechanism of harm here. Without a cashier there is nothing to deposit and nothing to withhold. Trustpilot hosts no profile for fundingpips.net at all, and we found no first-hand account of anyone losing money through this site.
- The group pays people. The proprietary trading business at fundingpips.com carries 69,549 Trustpilot reviews at 4.5 out of 5, with 82% at five stars, and it answers 99% of its negative reviews. Its own figures claim more than 250 million dollars paid out. The negative minority is real and includes accounts shut down after an evaluation was passed or during identity checks, which is the pattern worth watching, but it sits against a large body of customers reporting that they were paid.
What would change this
What we would need to see to revise the verdict.
Specific, checkable things would move this verdict in either direction.
- Towards a lower risk rating: the Mwali register publishing a renewal of BFX2024004 past 23 January 2026, and the site either linking to that record or dropping the brokerage claims it does not service.
- Towards a lower risk rating: fundingpips.net gaining a complete customer agreement that names the contracting party and the governing law, a working client area, and contact details that match each other.
- Towards a lower risk rating: the group stating plainly on fundingpips.net that the site is the licensed entity's disclosure page and that no retail brokerage accounts are offered there, which would remove the contradiction with its main site.
- Towards a scam finding: any regulator warning list naming fundingpips.net, or an enforcement action against FundingPips Corp.
- Towards a scam finding: fundingpips.net starting to accept deposits while the licence position remains as it is, particularly through crypto wallets or a cashier that appears without a complete contract behind it.
- Towards a scam finding: credible, specific reports from clients of this website describing deposits accepted and withdrawals then refused, or any demand for a further payment before funds are released.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Mwali International Services Authority, licence verification for FundingPips Corp
The issuer's own record: company number, licence number, status and licence end date.
Mwali International Services Authority, authorised brokerage companies list
The register list. FundingPips Corp is entry 142, with the website recorded against it.
Cyprus Registrar of Companies, record for HE 450941
Confirms FUNDING PIPS SERVICES LTD and its former name, SBRIZZIA HOLDING LTD.
UAE Capital Market Authority, licensed companies
The UAE register of licensed firms. A search for Funding returns no entry for this operation.
FundingPips brokerage website
The licence claim and the entity disclosure sit in the footer. The site publishes no verification link.
Frequently asked questions
Quick answers about this broker’s safety.
Is FundingPips a scam?
No regulator has called it one, and we found no enforcement action, no warning-list entry and no fraud-related court record against FundingPips Corp. We still rate fundingpips.net high risk at 55%, because it advertises a fully licensed forex brokerage with same day withdrawals while offering no way to open, fund or log into an account, and because its only licence is a Comoros registration whose published term ended on 23 January 2026.
Is FundingPips a fraud?
We have no evidence of fraud. There is no regulator warning naming FundingPips or fundingpips.net, no enforcement action, and no fraud-related court record against the company. What we did find is a brokerage website whose central claims we could not reconcile with any operating brokerage, which is a serious marketing problem rather than proof of a crime.
Is fundingpips.net regulated?
Only in the thinnest sense. It holds licence BFX2024004 from the Mwali International Services Authority, the registrar of the autonomous Comoros island of Moheli, issued on 23 January 2024. We confirmed that on the issuer's own register, which also records fundingpips.net as the licensee's website. It holds no licence from any mainstream regulator, and the UAE Capital Market Authority register has no entry for it.
What is the MISA licence actually worth?
Very little. MISA is a registrar on a small autonomous island, not a functioning financial supervisor, and the Comoros central bank has publicly disavowed licences issued by the island authorities. There is no client-money protection, no compensation scheme and no realistic complaints route. A licence like this shows a willingness to pay for the appearance of regulation at low cost.
Has the licence expired?
The position is genuinely unclear, and we are not going to pretend otherwise. The register's list shows the status as active. The issuer's own verification record for this licence gives a licence end date of 23 January 2026 and publishes no renewal. Either the licence was renewed and the verification record was not updated, or the term has lapsed while the website still advertises full licensing.
Is fundingpips.net the same company as fundingpips.com?
Yes, the same legal entity stands behind both. FundingPips Corp, Comoros company HY01223081, is named on fundingpips.net and is also named on the group's main site as the provider of its simulated trading services. The two sites sell very different things: fundingpips.com runs proprietary trading evaluations, while fundingpips.net presents itself as a licensed forex brokerage.
Can I open and fund a trading account at fundingpips.net?
Not on the evidence of the site itself. The only account route is a form asking for a first name, last name and email, which posts back to the same page. There is no client login, no identity-check step and no cashier, and there never has been one in the site's history. The page still promises immediate funding and same day withdrawals.
Can I withdraw my money from FundingPips?
At fundingpips.net the question does not really arise, because the site provides no way to deposit in the first place. On the group's proprietary trading side, most reviewers report being paid, and the company says it has paid out more than 250 million dollars. A visible minority report accounts shut down after passing an evaluation or during identity checks, which is the complaint theme worth taking seriously there.
Is FundingPips a clone of another broker?
No. We ran the clone test and it passed. The licence number, the entity name, the company number, the registered address and the website recorded on the issuer's register all match this operation, and the group's own sites tie the entities together. No other company's credentials are in use.
How old is FundingPips?
About three years, and that is an upper bound. The group's oldest domain was registered on 6 September 2022, and the oldest company we could date, FUNDING PIPS SERVICES LTD in Cyprus, was incorporated on 5 September 2023. The Comoros contracting entity cannot be dated, because no public register publishes it. The brokerage website itself only dates to 6 February 2024.
Who owns FundingPips and where is it based?
The contracting company is FundingPips Corp, incorporated in the Comoros Union with company number HY01223081 and a registered address on Bonovo Road, Fomboni, Island of Moheli. Day to day the operation runs from Dubai. The brokerage site gives its office as 22nd Floor, Bay View Tower, Business Bay, while the group publishes a different Dubai address, at IFZA Business Park.
Has any regulator warned about FundingPips?
Not that we can find. No warning list we checked names FundingPips or fundingpips.net, and the only authority that lists the company at all is the Comoros island registrar that issued its licence. Bear in mind that warning lists lag new operations by months, so an absence is not a clean bill of health.
What should I check before depositing with any broker showing a Comoros licence?
Look up the licence number on the issuer's own register and read the dates, not just the status word. Check that the register records the same website you are on. Then look for the things a real brokerage cannot do without: a complete customer agreement naming the contracting company and the governing law, a working client area, a published cashier, and contact details that agree with each other.
What should I do if I have lost money to a broker like this?
Stop sending funds immediately, including any payment described as a tax, fee or unlock charge, because that demand is itself the classic second stage of a loss. Save every receipt, statement and message. Ask your bank or card provider about a chargeback straight away, since time limits are short. Report it to the financial regulator and police where you live, and ignore anyone who offers to recover the money for an upfront fee.
What we recommend
The practical takeaway from everything above.
Treat fundingpips.net as an unverified offshore shell rather than a brokerage.
- Do not send money to fundingpips.net. There is no published cashier, no complete customer agreement, and no supervisor that would help you recover funds.
- If you are considering the group's proprietary trading programs at its main site, understand what you are buying: a service fee for a simulated account, not a deposit, and not an investment. The company says so itself.
- Check the licence yourself on the Mwali register entry linked below, and look at the licence end date rather than only the status word.
- If someone contacts you claiming to be a licensed FundingPips broker offering live accounts, be sceptical and verify the domain. The brand's own trading business runs from a different website.
- If you have already deposited, stop sending further funds, keep every receipt and chat log, ask your bank or card issuer about a chargeback, and report it to the financial regulator where you live.
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 October 1, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.