Is 365 FX a scam or legit broker?

No, it is not safe to trade with 365 FX. 365 FX is owned by Fintech Software Inc. which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as GoldmanCFD, Obsbit and more. 

365 FX is a brand name owned and operated by Fintech Software Inc., which is managed and owned by the team of professionals, specializing in forex trading, financial options, online marketing, commodities, stocks, derivatives, etc., as claimed on the website.

365 FX Review

The broker states its address in London, however, is not registered officially to be able to deliver its financial services. In addition, the ruts of the company show the entity located in the Marshall Islands, which is known offshore zone. Nevertheless, the brokerage operates trading without licensing while targeting clients from various entities, therefore the company was warned by the authorities to stop their business offering. The statement below was issued by the Irelands Central Bank, while further, the regulatory bodies from EU spread the information through their sources too.

“The Central Bank of Ireland published the name of an unauthorized investment firm, 365-FX/365BinaryOption/Oproserv Limited/Fintech Software Inc., that states its addresses in the United Kingdom and the Marshall Islands. It is a criminal offense for an unauthorized firm to provide financial services in Ireland that would require an authorization under the relevant legislation, which the Central Bank is the responsible body for enforcing.”

Central Bank of Ireland. October 2018.

Investment through authorized firms involves significant risks that mainly concerns about loss of capital. Those companies are acting apart from the scope of international controls that are designed to protect a client and the investment itself. For that reason, we advise all investors and traders to avoid 365 FX and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM.

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