Is 31FX a scam or a legit broker?
31FX is 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade 31FX. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.
|🗺️ Registered in||British Virgin Islands|
|🗺️ Type of License||Offshore License|
|🛡️ Is 31FX safe to trade||No|
|🗺️ Recommended Licenses||FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺|
|🖥 Alternative Broker||FP Markets - licensed by ASIC in Australia|
31FX is a Forex and CFD. The company is owned and operated by JRV Market Ltd. with registered address in the British Virgin Islands and does not have a license to operate as a forex and CFD broker. In its terms and conditions the firm states to be a registered financial services company in the United Kingdom, although we didn’t find any records of the company in the Register of the UK’s regulator FCA (Financial Conduct Authority). Despite this fact, 31FX provides British registration address and contact phone number.
It is creal that 31FX is not regulated by any of the reputable authorities and is probably function from the offshore zone. Offshore-based unregulated brokers are not obliged to follow any rules and most often than not are involved in scam.
We highly recommend to trade with the brokers holding a license from respected financial institutions such as the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus and the Australian Securities and Investment Commission (ASIC) as they are obliged to follow strict financial and ethical rules. Here you can check our list of brokers, licensed by the FCA.
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