Is SoarFX Scam or Legit Broker?

No, SoarFX is not safe to trade with. The company is not regulated by any of the top-tier authorities. There is no mention of the company address, location or any information that can indicate the broker’s reliability. Thus, it seems that SoarFX is operating without a license which makes its offerings unreliable and risky. 

About SoarFX
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is SoarFX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is SoarFX?

The potential client of SoarFX gets an opportunity to trade on the currency market (FOREX) and in CFDs, shares, and indexes through an MT4 platform. SoarFX is a trading name used by Bluestar International Acquiring Ltd and that is all information available about the broker. There is no any mentioning on the official website about an address, registration, or whatsoever, while the only address mentions a payment provider Hermes Solution DOO in Montenegro.

  • Therefore, the broker’s operation and provision of services are in question, and definitely, it means the broker is non-regulated while targeting clients just by attractive proposals and conditions. And this is exactly the reason we always advise trading with a regulated broker only, as these firms are constantly overseen and reported.

  • As the industry grows, the market authorities issue regular warnings against those companies that use targeting tactics without legal permission to do so and seem to be scams. Moreover, a non-regulated firm means that no one ever checks the company’s sustainability, ability to deliver financial service and what stands behind the firm.

  • In regards to SoarFX, of course, we recommend avoiding their proposals by any means. Also, the European authority CONSOB, Italy issued an alert against SoarFX, while further EU regulators followed the issue. 

    “The website, registered in an anonymous form by a user whose identity is not known. Considering that the SoarFX company, with an alleged registered office in London, is not authorized to provide investment services to the Italian public, insofar as it is not registered on the register we recommend avoiding trading with them”

    CONSOB, Italy. April 2018.

SoarFX Review

SoarFX  Review Conclusion

We advise all investors and traders to avoid SoarFX and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets, BlackBull Markets, and HYCM.

SoarFX Update

Based on our research, the SoarFX 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. 

No news available.

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