iFXoption Review

Is iFXOPTION Scam or Legit Broker?

No, it is not safe to trade with iFXOPTION. The broker doesn’t provide any information about the company behind the brand’s name as well as any regulatory information. Signing with the broker is risky because of its unregulated nature. Often, brokers without any licenses turn out to be scams. 

What is iFXOPTION?

According to the website, iFXOPTION is a member of the Financial Services Compensation Scheme (FSCS). The company participates and is a member of the Investor Compensation Fund (ICF) which covers the clients of investment companies and is governed by the laws of the Republic of Cyprus. The website also mentions that the broker is based in London, UK. Both FSCS and ICF protect customers when authorized financial services firms fail. However, we couldn't find any information about iFXOPTION authorization, which means the broker is not allowed to provide its financial services and cannot be a member of compensation schemes.

• Moreover, iFXOPTION has been banned in Spain by the local regulator CNMV:

  "IFX OPTION is not authorized to provide the investment services, which include investment advice, or to provide auxiliary services in relation to the financial instruments, including, for those purposes, foreign currency transactions."

• There is no information or any kind of reviews about iFXOPTION broker on the net, which probably means it is a brand new company, that has already gotten into the warning list.

iFXOPTION Review Conclusion

We advise all investors and traders to avoid iFXOPTION and other unregulated brokers. The lack of information about the broker’s regulations, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index and XM.

iFXOPTION Update

Our research revealed that the iFXOPTION website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.