Is 100XFX Scam or Legit Broker?

100XFX is not a secure broker. In our research, we found that 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 and might operate its services from a different location.

About 100XFX
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is 100XFX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

What is 100XFX?

100XFX is owned by 100XFX Ltd., a company that seems to be based in the 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 offshore and registered in St. Vincent and the Grenadines.

  • 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. The UK’s Financial Conduct Authority license costs USD 50,000 and needs USD 100,000 of capital for the STP license aside from client deposits.

100XFX Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have 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.

100XFX Update

We found that the 100XFX Website is inactive. Since money safety in forex goes first we recommend avoiding any proposals from 100XFX and staying alert in case of any proposals. 

No news available.

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