FNmarkets review 2026: FundedNext's broker
FNmarkets is the CFD brokerage brand launched by the group behind FundedNext. After a challenge, some traders want to move to a live account with a broker they already know. Before you open an account, the most important point is not the spread: it is the license, and therefore the protection you get.
Our take: FNmarkets operates under an offshore license and, to our knowledge, without authorization in the United States, the European Union, the United Kingdom or Canada. In particular, it is not registered with the SEC or the CFTC, nor a member of the NFA, so it is not authorized to serve U.S. residents. If you live in one of these countries, you do not get the protections of your regulator. Only deposit money you can afford to lose, and choose a broker regulated where you live if protection matters to you.
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Pros
- Linked to the FundedNext group, well known among prop firm traders
- Presented as an entity separate from the prop firm
- CFD accounts on forex, indices and commodities
Cons
- Offshore license (Mauritius, FSC), lighter regulation than in the U.S. or Europe
- No known authorization in the U.S., the EU, the UK or Canada
- No investor compensation fund for U.S. or European clients
- Trading conditions not confirmed on the official website when we checked
License and regulatory status
FNmarkets first obtained a broker license in Mwali, Comoros, in November 2024 (Finance Magnates, May 2025). The broker now operates through FNmarkets (Mauritius) Ltd, which states that it is authorized by the Financial Services Commission (FSC) of Mauritius under license no. GB25204149 (FNmarkets legal notice, accessed November 5, 2026). Finance Magnates confirmed this Mauritian authorization in 2026. Mauritius remains an offshore jurisdiction: this license gives you no U.S. or European protection. The license application in Dubai (DFSA) and the European license (CySEC) under consideration had not been confirmed when we checked.
What this means for you if you live in the United States or Europe:
- No U.S. or European investor protection: in the U.S., a broker offering forex to retail clients must be registered with the CFTC and be a member of the NFA; in Europe, the MiFID rules on client information and conflicts of interest do not apply.
- No leverage cap: U.S. rules cap retail leverage at 50:1 on major currencies, and the EU caps it at 1:30. An offshore broker can offer much more, which increases the risk of loss.
- No compensation fund if the broker goes bankrupt.
- Limited recourse in a dispute: you would have to turn to the regulator in Mauritius (FSC).
Platforms and conditions
According to third-party comparison sites, FNmarkets offers MetaTrader 5, Standard, Raw and Islamic accounts, a $50 minimum deposit and high leverage. These conditions did not appear on an accessible official page when we checked: verify them on the FNmarkets website before you open an account. We found no mention of cTrader.
Watch out for clone sites
A site with a similar name, FNPmarkets.co, has been on the Alberta Securities Commission (Canada) caution list since March 2024. It has no known link with fnmarkets.com. Always check the exact address before you sign up or deposit.
Check for yourself before you deposit
- Check the CFTC RED List and the NFA BASIC database (United States), the FCA Warning List (United Kingdom), the AMF blacklist (France), or your own country's regulator.
- Check that your country of residence is accepted by FNmarkets.
- Start with a small deposit and test a withdrawal before going further.
For the prop firm itself, read our FundedNext review.
See FNmarketsCFDs are complex instruments with high leverage: a large majority of retail accounts lose money. A broker that is not regulated in your country does not offer the protections of your regulator. Read the risk warning