Is FxOnUs Scam or Legit Broker?

FxOnUs has been suspected as a scam broker. This broker is blacklisted by a well-known regulatory authority and should be avoided. FxOnUs is owned by MarketOnU 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 low setup cost, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex, and more.

About FxOnUs
🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is FxOnUs safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is FxOnUs?

FxOnUs is the brand name of the offshore company MarketOnUs which is located and registered in the Marshall Islands, yet, the company provides an additional address in London, UK which supposes to bring more trust to the company.

  • However, the registration address in Yorkshire has not been listed in the regulation or registration listing of the UK or their respected authority FCA, thus there is a question about the sustainability of the information provided.
  • Therefore, the broker is an offshore, non-regulated firm, which delivers multiple trading solutions to a vast of investment opportunities to trade CFDs, Forex, and Metals, as well as PAMM (Also learn about PAMM Trading) management while there is no authority watch how exactly the company treat their clients and specifically manages the funds.
  • Of course, the license from a reputable authority does not guarantee that the broker will be 100% transparent and there is no any risk of scam, yet if so the regulated company will fall to the investigations and other possibly strict consequences.
  • For this reason, we always advise opening an account and starting trading only with reputable Regulated Forex Brokers, since the risks are minimized, while the customer is protected by the applicable jurisdictional organization.
  • In regards to the FxOnUs, apart from the lack of regulation and misleading about their registrations and some false details about the operation, there are some industry authorities that also issued warnings against the broker to their residents due to a big number of complaints received.

    “Suspicious company FxOnUs is not licensed or authorized to offer or provide its services within the Poland territory, therefore the public should refrain from any transaction with the entity”.

    Poland Financial Supervision Authority KNF, March 2017

FxOnUs Review

Overall FxOnUs Ranking 

Our research revealed multiple safety and regulation issues with FxOnUs, thus we do not rank positively FxOnUs, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • FxOnUs 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.
RankingFxOnUsHFMBlackBull Markets
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading environmentTrading conditions

FxOnUs Alternative Brokers

As our research of FxOnUs showed multiple issues in respect of the safety of the broker, here are much better Alternatives to FxOnUs with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

Deposits and Withdrawals

With FxOnUs account funding is a quick and easy process. There is a wide range of payment methods including Credit Cards, Debit Cards,  Bank Wire transfers, and e-wallets, including Skrill and Neteller. 

  • The minimum deposit at FxOnUs is $100. The broker does not charge any additional fees for deposits. Generally, deposits are processed instantly

FxOnUs 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 FBS and Eightcap.

  • Overall ranking and experience for FxOnUs is Negative

 

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