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Is Air FX Scam or Legit Broker?

Air FX is not regarded as a dependable investment choice due to the lack of regulatory oversight. Air FX is registered in St. Lucia, with the Financial Services Regulatory Authority. However, it does not provide safety for the traders and their investments.

  • Engaging with unregulated or offshore brokers comes with inherent risks because they lack stringent regulations and supervision. Strong regulatory bodies such as CySEC, ASIC, and FCA play a crucial role in creating a highly secure trading environment, thereby lowering the chances of financial losses and other potential complications.

About Air FX
🏢 Registered inthe Financial Services Regulatory Authority
🗺️ Type of LicenseOffshore
🛡️ Is Air FX safe to trade?No
🗺️ Recommended LicensesFCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

 

What is Air FX?

Based on the broker’s website, Air FX offers a versatile trading platform where you can trade a wide range of assets, including forex pairs, cryptocurrencies, stocks, commodities, metals, and indices. Retail traders can benefit from highly competitive trading conditions, low spreads, and attractive commission rates.

To provide more detailed and trustworthy information about the broker, we carried out thorough research and revealed the following:

  • Lack of Regulation: Although Air FX is registered in St. Lucia under registration number 2023-00353, it does not possess any significant licenses that would indicate regulatory oversight or compliance with trustworthy and stringent regulations. Opting for an unregulated broker for financial investments carries inherent risks and may result in the loss of funds.
  • Mostly negative reviews: While researching a broker, we pay close attention to the feedback given by fellow traders. In the case of Air FX, the reviews are increasingly negative. The complaints are various, yet most traders point out insufficient customer support, withdrawal problems, and high commissions. 
  • Problems with the withdrawal process: It is crucial to prioritize the withdrawal process. Completing withdrawals successfully is a vital aspect of trading, ensuring convenient access to your investments and profits. Unfortunately, with offshore or unregulated brokers traders frequently encounter withdrawal issues, which can result in inevitable financial losses.

Overall Air FX Ranking

After conducting our research, we identified significant concerns regarding Air FX’s reliability and adherence to regulatory standards. As a result, we are unable to provide a positive rating for Air FX.

  • Air FX Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.
RankingAir FXXTBFP Markets
Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading ConditionsTrading Platforms

Air FX Alternative Brokers

Considering the doubts surrounding the reliability and security of Air FX, we strongly advise traders to explore alternative options that offer more robust regulatory oversight and improved trading conditions. Below is a list of reputable brokers that present dependable choices and a secure trading environment for your consideration:

Deposits and Withdrawals

Air FX offers multiple deposit methods including BTC/ ETH/ USDT (ERC-20). Clients need to select the deposit method and proceed to input the details of their deposit. Then, they will be given a wallet address to which they can send their funds. The minimum deposit is $250.

  • The broker is currently working on adding new payment options such as credit/debit cards, ACH Transfer, Wire Transfer, Skrill, and Neteller for both deposits and withdrawals in addition to the cryptocurrencies.
  • The funds are sent to the client’s account within 6 hours depending on the blockchain network.
  • Withdrawals are reviewed by the financial department. They conduct security checks to ensure that funds are being sent out to the correct person.  Once approved by the broker’s financial department, funds should arrive in the trader’s wallet within an hour, depending on blockchain traffic.
  • However, we have revealed various complaints regarding Air FX withdrawal process, thus our advice is to be extremely careful with financial investments

Account Types 

Air FX has several accounts to meet different trading expectations: Zero Commission, Raw Spread, and Deposit Bonus. Each account type offers different features and conditions. However, there are also common features. All three account types offer spreads starting from 0.01 pips, offer flat-rate commissions, enable hedging, and are EA-enabled. 

Air FX Review Conclusion

Based on the information we have gathered about Air FX, there are significant concerns about the broker’s trustworthiness and credibility. The primary concern is the lack of regulation, coupled with numerous complaints and negative reviews regarding the broker’s withdrawal process, customer support, unfavorable trading conditions, etc. Therefore, we strongly advise traders to exercise caution and avoid using Air FX for their trading activities.

Our recommendation is to consider brokers that are licensed by reputable authorities such as FCAASIC, or CySEC. Most regulated brokers offer excellent services and favorable trading conditions, at the same time following top-tier regulations, thus ensuring a secure trading environment. Some of the regulated brokers with good standing in the market are EightcapOANDA, and BlackBull Markets

  • Overall ranking and experience for Air FX is Negative.

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