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FxPulp Review
FxPulp was a Cyprus regulated forex and CFD broker. CySEC suspended its license in February 2015 over client fund failures, then fully withdrew it weeks later.
Min Deposit
$2015
Spreads From
Not applicable, FxPulp is closed
Max Leverage
Not applicable, FxPulp is closed
Platforms
MetaTrader 4
Pros
- FxPulp held a genuine CySEC license, number 095/08, from 2008 to 2015
- CySEC's full suspension and revocation record on this firm is public
- It once offered the MetaTrader 4 platform used across most of the industry
- Two responsible directors received a five year ban from Cyprus finance
Cons
- CySEC suspended FxPulp's license on 18 February 2015 over client fund failures
- CySEC fully withdrew license 095/08 on 16 March 2015, closing the firm for good
- Two FxPulp directors were fined a combined 150,000 euros by CySEC in 2015
- FxPulp's own website has been offline for years with no current operator
- Forex Peace Army lists FxPulp as a scam case linked to the collapsed Crown Forex brand
FxPulp was a forex and CFD broker owned by Pulp International Business Ltd of Limassol, Cyprus. CySEC gave the firm a license, CIF number 095/08, in November 2008. FxPulp offered spot forex, metals, and CFDs through MetaTrader 4, mostly to clients in the Middle East.
FxPulp is closed today. CySEC suspended its license on 18 February 2015, citing failures to safeguard client money and gaps in anti money laundering checks. The firm got 10 days to fix this and had to return client funds. It did not comply. On 16 March 2015, CySEC's board fully withdrew license 095/08, and FxPulp had to stop all investment services.
In November 2015, CySEC fined two FxPulp directors, Said Salem and Shaher Hasanain, a combined 150,000 euros and banned both from Cyprus finance for five years. Two more directors got a formal reprimand. Trade press and Forex Peace Army have long linked FxPulp's owners to the earlier collapsed Crown Forex brand, though CySEC never confirmed that link itself.
Min. Deposit
USD 2015
Max Leverage
Not applicable, FxPulp is closed
Spreads From
Not applicable, FxPulp is closed
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
