Fido Markets

Fido Markets is an online brokerage firm that was founded on June 7, 2021. The company is registered in Saint Vincent and the Grenadines, a jurisdiction known for its minimal regulatory oversight of financial services. Its registered address is located in London, United Kingdom, at 20-22 Wenlock Road, London N1 7GU.

The broker presents itself as a multi-asset trading platform, offering clients access to a range of financial instruments including forex, commodities, indices, and cryptocurrencies. According to its website, Fido Markets provides the MetaTrader 5 (MT5) trading platform, a widely used trading interface known for its advanced charting tools and automated trading capabilities.

Fido Markets operates without any recognized financial regulatory license. Our records show that the broker has no regulators on file, meaning it is not supervised by any major financial authority such as the FCA, CySEC, or ASIC. The company is registered in Saint Vincent and the Grenadines, a jurisdiction that does not require forex brokers to obtain a license or adhere to strict regulatory standards.

For traders, this absence of regulation represents a significant risk factor. Unregulated brokers are not obligated to segregate client funds, provide negative balance protection, or participate in investor compensation schemes. FXCanary strongly advises traders to exercise extreme caution when dealing with unregulated entities.

Fido Markets claims to offer leverage up to 1:500, which is considered high and carries substantial risk. The broker provides the MT5 platform, available for desktop, web, and mobile devices. MT5 is a powerful tool that supports algorithmic trading via Expert Advisors (EAs) and offers advanced analytical tools.

The company states it offers 5x24 customer support, indicating round-the-clock assistance during the trading week. However, without regulatory oversight, the quality and reliability of this support cannot be independently verified.

Specific details about account types, minimum deposits, and funding methods are not available from our sources. Typically, brokers in this category offer multiple account tiers (e.g., Standard, VIP, Islamic) with varying spreads and commissions. Fido Markets may provide such options, but the lack of publicly accessible information makes it difficult to confirm.

Traders should be aware that unregulated brokers may impose unfavorable terms or restrictions on withdrawals. It is advisable to thoroughly review any terms and conditions before depositing funds.

Fido Markets maintains a presence on several social media platforms, including Facebook, Instagram, LinkedIn, Twitter/X, and YouTube. This suggests an effort to engage with potential clients and build brand awareness. However, social media activity does not compensate for the lack of regulatory oversight.

As of now, there are no independent user reviews or third-party assessments available for Fido Markets. The absence of a verifiable track record makes it challenging for traders to gauge the broker's reliability and performance.

FXCanary's Scam Risk Score for Fido Markets is 75 out of 100, indicating a severe risk. This high score is driven primarily by the broker's lack of regulation, its registration in a loosely regulated jurisdiction (Saint Vincent and the Grenadines), and the absence of independent user feedback.

Prospective traders should consider the significant risks associated with unregulated brokers. Without regulatory protection, there is limited recourse in the event of disputes, fund misappropriation, or platform failure. We recommend seeking brokers that are fully regulated by reputable authorities such as the FCA, CySEC, or ASIC.