- Company name: Fortune Way Limited
- Registration/license: Vanuatu
- Registration/license requirement: USD 2,000
Is FxFWay a regulated forex broker or a scam?
no, FxFWay broker is Non-Regulated Broker. It is NOT SAFE to trade. while we checked the company 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.
FxFWay is a Forex broker with the offices in UK, Hong Kong and Vanuatu. Company’s website provides the info about its regulation – in 2017 the firm was granted authorisation by the US NFA and received its Vanuatu license.
But after some research it turned out the FxFWay is not authorized by the National Futures Association in US and also was blacklisted by the Financial Conduct Authority in UK (FCA).
Even tho the firm may have an offshore regulation, it doesn’t give a right to offer financial services in UK, US nor in Hong Kong or other countries.
It is always better and safer to trade with a reliable broker licensed by Australia’s ASIC, Cyprus’ CySEC or UK’s FCA. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits. Check the list of the FCA-regulated brokers here.
No news available.