Fasterpay Fx is an online broker that claims to offer CFD trading services in foreign exchange, stocks, indices, precious metals, commodities, and cryptocurrencies. Its website promotes itself as a leading global trading plan provider, offering various account types and trading tools. However, the reality of the platform is significantly different from its promotional claims.
Brand Background
The official website indicates that it is operated by Fasterpay Fx Pty Ltd. However, a Whois domain lookup reveals that the domain fasterpayfx.com was registered on February 26, 2023, and acquired by the current team as an official website on February 27, 2024. This contradicts their claim of being "established in 2006." Additionally, their company introduction is directly copied from the well-known broker GO Markets’ website.
Trading Products and Services
Fasterpay Fx offers trading in CFDs across foreign exchange, stocks, indices, precious metals, commodities, and cryptocurrencies. Despite showcasing a broad range of trading products, it does not disclose important information such as account leverage or trading commissions. Their descriptions of account types and spreads are confirmed to be directly copied from GO Markets’ website, heavily impacting the platform’s service credibility.
Trading Software Support
The platform claims to support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), but verification shows that Fasterpay Fx Pty Ltd's servers do not appear on the MT4 and MT5 lists. Thus, their claims about software support are questionable, further increasing concerns about the platform's technical capabilities.
Deposit and Withdrawal Methods
Although Fasterpay Fx claims to support various deposit and withdrawal methods, including Mastercard, Visa, Skrill, Neteller, bank transfer, and Fasapay, no actual user has successfully completed transactions or withdrawals. This lack of transparency makes it difficult for investors to feel secure about their funds.
Agency Policy
The platform offers two types of agency models: White Labels and Referral Program.
- White Labels: Their promotional content claims to offer white-labeled MT4/MT5 platforms and infrastructure support for partner institutions. However, investigations show that this content is identical to that on the GO Markets website, indicating direct copying.
- Referral Program: This model ostensibly allows users to earn commissions by referring others but fails to provide details of its operations or any successful case studies, casting doubts on its credibility.
Educational Resources
Fasterpay Fx lists educational resources such as forex trading introductory courses, podcasts, webinars, and trading strategy articles. However, upon verification, it has been found that these materials are completely plagiarized from the GO Markets website. The quality of these educational resources is not guaranteed and reflects the platform's lack of professional content creation.
Regulatory Information
The platform claims to be authorized and regulated by the Financial Services Commission (FSC) of Mauritius. However, a deeper investigation reveals that its registration number (170969) and regulatory license (GB19024896) actually belong to the Mauritius branch of the broker GO Markets. This indicates that Fasterpay Fx is not subject to any formal regulation, with the related information being blatantly false.
Website Traffic and Brand Exposure
Semrush data indicates that Fasterpay Fx’s website receives less than 100 monthly visits, suggesting a minimal user base and extremely low market recognition. Additionally, there are no user reviews or news about the platform online, which is inconsistent with the image of a "global leader" in brokerage services.
Contact Information and Social Media
Fasterpay Fx provides WhatsApp, email, and an online contact form as options for contact but lacks any social media accounts. This absence is particularly unusual for a broker claiming to provide global services, further exacerbating doubts about the brand’s transparency.
Template-Based Website Design
Fasterpay Fx shares the same website template with several confirmed scam platforms (such as Crypto Zoid, Astro Fx Hub, Alphates, etc.), and its registered address, promotional content, and agency policies are directly copied from GO Markets. This imitation and disguise suggest a high likelihood of fraudulent activity.
Risk Analysis
- Proliferation of False Information: The brand’s history, regulatory information, and trading services are all fabricated or copied.
- Lack of Legitimate Regulation: The platform lacks any formal regulatory qualifications, making related information entirely unreliable.
- Opaque Trading Conditions: Missing account information, questionable authenticity of trading software support.
- Fund Safety Concerns: No cases of actual user deposits or withdrawals, questionable security.
- Low Brand Credibility: No user feedback, no social media presence, extremely low website traffic.
- High Fraud Suspicions: Significant evidence points to its content being mimicked from reputable brokers, with a very high risk of fraud.
Conclusion
Fasterpay Fx attempts to disguise itself by copying content from reputable brokers, but it lacks regulatory qualifications, has non-transparent services, and a very small user base. Based on current evidence, the platform carries an extremely high risk of fraud, and it is advisable for investors to steer clear to avoid financial loss.
