FNmarkets

FNmarkets is a young broker that has been operating since 2024. On its main website it presents itself as regulated by the FSC of Mauritius, and its global branch as regulated by MISA in Mohéli. Although the broker has a Persian version, Iran is explicitly on its list of restricted countries. In this overview, the Teagle editorial team reviews FNmarkets' licenses, accounts, payments and risks based on recorded data.

What kind of broker is FNmarkets?

FNmarkets, registered as FNmarkets (Mauritius) Ltd, is based in Mauritius and has about 2 years of history. Its tradable instruments include forex, metals, indices, cryptocurrencies, stocks and commodities. Scalping, hedging, news trading, phone trading and the use of expert advisors are allowed with this broker. Teagle's expert considers infrastructure such as MetaTrader 5, competitive spreads and a free VPS among its strengths.

FNmarkets licenses and credibility

According to Teagle's latest review, the status of FNmarkets' licenses is as follows:

• FSC Mauritius: number GB25204149, active; an offshore license.
• MISA, Mohéli Island (Comoros): number BFX2024210, active; a weak offshore license for the global branch.
• saint lucia: Number 2024-00061; the status of this one is not recorded in Teagle's data.

All of these licenses are offshore and from low-tier regulators, and "weak regulation" is listed among this broker's drawbacks; its credibility is rated average on Teagle. To gauge the level of protection these bodies offer, read the articles broker regulation and how it is graded and the difference between offshore and onshore brokers .

Does FNmarkets serve Iranians?

No. According to the official disclaimer on the FNmarkets website and the Teagle team's inquiry with support, Iran is specifically named on the list of countries restricted from opening accounts, trading and transferring funds. Although a Persian version of the site exists, the main website does not support Persian, and access from Iran requires changing your IP. Because legal identity verification is not possible and the risk of account and asset freezes is high, Teagle's expert does not recommend this broker to users inside Iran. See similar cases in the article brokers restricted for Iranians .

FNmarkets trading accounts

FNmarkets offers two accounts on MetaTrader 5. Both have floating spreads, maximum leverage of 1:500, a 100% margin call level and a 20% stop-out, and an Islamic version is also available:

• Standard account: minimum deposit $50, no commission and spreads from 0.8 pips.
• RAW account: minimum deposit $10 according to the accounts table, spreads from zero and a commission of $7 per lot.

Note that in the payment methods table, the minimum deposit for all methods is listed as $50. According to Teagle's data, both accounts have requotes; that is, your order may not be executed at the requested price and a new price may be offered. This matters for scalpers; before choosing, read the article what is scalping in forex . Limited account variety and the lack of a standard (non-Islamic) conventional account are also among the recorded drawbacks.

FNmarkets platforms and services

The only recorded platform is MetaTrader 5, with Windows and Mac versions listed in Teagle's data. Additional services include bonuses, rebates, education, expert advisors and trading robots, a virtual private server (VPS) and an economic calendar. If you plan to run robots, see the article what is a VPS in forex .

Deposits and withdrawals at FNmarkets

The minimum deposit for all methods is $50, and there is no withdrawal cap:

• Credit card: free deposits within minutes, free withdrawals in 3 to 5 business days.
• E-wallet: free, instant deposits; free withdrawals, with timing depending on the payment system.
• Bank transfer: free deposits in 2 to 5 business days, free withdrawals.
• Crypto: deposit and withdrawal fees and times depend on the network.

FNmarkets rating and risk on Teagle

FNmarkets' final rating on Teagle is 1.06 out of 5, derived from a single source, WikiFX, with a rating of 1.06; no user has posted a review for it on Teagle yet. FNmarkets' Teagle Eye risk index is 70 out of 100, in the "high risk" category; offshore licenses, a very low credibility score and only 2 years of history account for this figure. This broker can be reviewed in the list of high-risk brokers .

FNmarkets pros and cons

• Pro: competitive spreads and MetaTrader 5 support
• Pro: virtual private server (VPS) and Islamic account offered
• Pro: responsive support and withdrawals with no broker fee
• Con: weak, offshore-only regulation
• Con: explicit ban on Iran and risk of account freezes
• Con: limited account variety, no conventional account, and requotes

Who is FNmarkets suitable for?

According to Teagle's expert, FNmarkets suits non-Iranian traders outside the country who are looking for low-cost scalping; it is not suitable for Iranian traders. To weigh it against another offshore broker, see the FNmarkets vs FXGT comparison .

Conclusion

FNmarkets is competitive in terms of trading conditions, but its young age, weak licenses and official ban on Iran rule it out for users inside the country. If you are legally outside Iran, start with a small amount, assess execution quality, make a test withdrawal and follow new warnings on the investment risk warning page .