It's possible. Try testmy.net and a 6 to 12 MB file. See what your results are then. Incidently, just ran my own test. Fast.com registered 1.6Mbps. Testmy.net right after registered 5.2.
What plan are you on? What beam are you on? Is the "video data saver" turned on or off?
More detail is needed to help understand what may be going on.
As noted, testmy.net is generally considered a more accurate speed test for satellite internet subscribers - for increased accuracy it's always been suggested that a manual download size of greater that 12MB be selected at:
Another practical reason for that is that TestMy will automatically retest with large file sizes until a 7 second download can be attained - I've seen it adjust up to 200MB unless you manually select a file size of 13MB - needless to say 200 MB is simply a wasted of bandwidth and data on limited plans.
Regardless, all speed tests are not alike and often geared towards different scenarios. I find TestMy to be most accurate in terms of what most consider to be "speed" - for any speed test it's important to know what it's measuring and how.
With regard to beam, each Exede subscriber is assigned to one of 72 different spot beams (transpopnders) depending on their physical location (each beam has its own footprint). The following link allows you determine what beam you're assigned to. At the same time, it identifies what gateway you're using. There's on additiional ViaSat/Exede hop involved after/before getting to/from the internet sometimes called a core node. Knowing all of these can sometimes be useful in isolating problems.