Is FXPN Safe or a Scam? A Deep Look into Complaints, Rules and User Reviews

Answering The Main Question

When traders ask, “Is FXPN Safe or Scam?” They want a clear, fact-based answer about whether the broker can be trusted. Our research gives a straight answer. While FXPN has a license from the National Bank of the Republic of Belarus (NBRB), this one good thing is outweighed by many serious warning signs. A closer look shows a canceled license from a major European regulator, many serious user complaints, and worrying results from real-world investigations. This article doesn't make a final legal decision but shows all the facts we found—from official records to real user feedback—so you can make a smart choice. The evidence shows this is a high-risk situation that should make any potential investor very careful.

Breaking Down the Rules and Licenses

A broker's official licenses are the foundation of whether it can be trusted. For FXPN, this foundation looks broken. The story has two very different parts: a current license from a smaller regulator and a past license that was taken away by a top-level authority. This difference is important for any trader doing research. Understanding the gap between these two situations is key to knowing what real protection and oversight you can expect.

The Current License It Claims

FXPN, working under the company name Leverate Capital Markets Limited Liability Company, has a Forex Trading License in the Republic of Belarus. It is regulated by the National Bank of the Republic of Belarus (NBRB) under license number 193295922. While this is official regulation, it's important to understand what the NBRB really is. It is a regional regulator, and its oversight, investor protection programs, and enforcement tools do not have the same strength or international respect as those from top-level places like the UK's FCA, Australia's ASIC, or CySEC in Cyprus. A license from a less strict place provides some legitimacy but may not offer strong protection if there are disputes or if the broker fails.

The Canceled CySEC License

The most alarming piece of information about FXPN's licenses is what happened with the Cyprus Securities and Exchange Commission (CySEC). The broker used to have a Cyprus Market Making (MM) license, which has been taken away. When a respected regulator like CySEC cancels a license, it's one of the biggest red flags in the industry. License cancellations don't happen easily and usually come from serious violations, which can include failing to keep client funds separate, misleading advertising, bad business practices, or other breaks of strict financial rules designed to protect traders. This past action by CySEC creates a long and dark shadow over FXPN's current work and overall trustworthiness, suggesting it failed in the past to follow critical investor protection rules.

Worrying Physical Location Checks

A company's real physical presence provides accountability. To check the addresses listed by FXPN, real-world visits were done in multiple countries. The results showed a deeply troubling pattern:

· Russia: No Office Found

· Cyprus: No Office Found

· Belarus: No Office Found

Not being able to find a real office at the registered addresses in three different countries, including the one where it claims to be regulated, is a major problem. Real financial companies have offices you can verify and visit. The lack of such presence raises serious questions about the broker's honesty and whether it actually does business. It suggests that the listed addresses may be just for registration purposes, with no actual staff or business activity.

To see the full reports and photos from these on-site visits, users can look at the detailed investigation summary on broker checking platforms like WikiFX.

Looking at User Complaints

Beyond official data, what users actually say provides valuable insight into a broker's daily operations. We have looked at a large amount of user feedback from 2022 to now to find repeating themes in FXPN complaints. These patterns point to real risks that traders may face.

Withdrawal and Support Problems

The most serious and frequently mentioned complaint against FXPN involves getting your capital out. This is the ultimate test of whether a broker can be trusted. User CC87 from the United States, in a review from August 2024, said they “faced constant issues with withdrawals and unresponsive customer support.” This feeling is shared by user 善哉6447 from Taiwan, who noted in early 2023 that “withdrawals take a long time, which beginners cannot afford.”

Here are the complaint screenshots of these two users.

Having trouble accessing your own capital is the worst problem in the brokerage industry. Delays, excuses, and unresponsive support when trying to withdraw capital are classic warning signs often seen with untrustworthy or failing operations. When a broker makes it hard for you to get your capital out, it destroys the entire basis of trust.

Not Friendly for Beginners

Another consistent theme is that FXPN's setup is unwelcoming to new or small traders. Multiple users, including FX1038965397 and 随心波, pointed to the high minimum deposit as a major problem. User reviews often mention a $500 minimum, while the broker's own information says $200 for a basic Silver account. This inconsistency itself can be confusing. Regardless of the exact amount, users see the entry requirement as “too high” and “unfriendly.”

Screenshots Containing User Complaints

These complaints suggest a mismatch between FXPN's business model and what a large part of the retail trading market needs, potentially filtering for larger, and thus riskier, initial deposits. A broker that is not accessible to beginners may also lack the educational and support systems needed to guide them.

Unclear Trading Costs

Clear information about trading costs is essential for earning. A complaint raised by a user . 94447 highlights a view of an expensive fee structure. They noted, “trading on this platform seems you have to pay both spreads and commissions.” A review of FXPN's provided information confirms this observation. The broker charges spreads, which start from a relatively wide 1.5 pips on the entry-level Standard account. Additionally, it charges a commission of 0.5% per lot on stock CFDs. This double-cost structure can quickly eat into profits, especially for active traders or those using smaller position sizes. The user's complaint is not just a personal feeling; it is confirmed by the broker's own fee schedule, showing that the costs can indeed be higher than at many competing brokers who may offer zero-commission accounts or tighter spreads.

A full breakdown of FXPN's fee structure, as well as how it compares to industry standards, can be found by reviewing its profile on comprehensive platforms such as WikiFX.

Looking at Both Sides

To show a complete picture, it is also important to consider the positive and neutral feedback provided by some users. No broker is universally hated, and understanding what aspects users find acceptable helps to form a more balanced, complete view. These points explain why some traders might initially be attracted to.

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