Is 100XFX a regulated forex broker or a scam?
100XFX is not a secure broker. In our research the broker claims to be located in the UK, while there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
|🗺️ Registered in||St. Vincent and the Grenadines|
|🗺️ Type of License||Offshore License|
|🛡️ Is 100XFX safe to trade||No|
|🗺️ Recommended Licenses||FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺|
|🖥 Alternative Broker||GO Markets - licensed by ASIC in Australia|
100XFX is owned by the 100XFX Ltd., a company that seems to be based in UK (judging by the contact telephone number it provides). Although, the firm is not licensed by UK’s FCA or another European regulator. Instead it is located offshoreand registered in the St. Vincent and the Grenadines with a Financial Services. Dealing with a broker which has a St. Vincent and the Grenadines license is risky as it only takes USD 2,000 to get one. Comparing the license from UK’s Financial Conduct Authority, that costs USD 50,000 and also needs USD 100,000 of capital for the STP license aside from client deposits.
We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and FP Markets.
Yet, it is always great to hear your personal opinion about 100XFX. So you may share your experience or thoughts or discuss them below or ask us for additional information.
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