Is this online broker safe?

By Anja, from Switzerland, March 27, 2024 at 03:36 PM

Good afternoon, I just wonder, if you could help me in finding out if the mentioned online broker ( is safe, has an official license and that I can trust them. It's the first time I would go for such a business and therefore I want to be sure in advance, if it would be absolutely safe for me to work with them. And that it's not a sham/betrayal company. I already had contact (online chat) with one of their employees yesterday and I opened up an account. I haven't paid anything yet and therefore can't work with it until I would pay EUR 250.-- as a one payment. I received an Email from them with their bank details --> Land: Zypern Name der Bank: Moneygate Solutions LTD Empfänger: HOMINGO LTD IBAN: CY54 9110 0001 0000 0000 0511 0016 BIC/Swift: MNGTCY2N Adresse: Kafkasou Street 9, Ort: Nicosia PLZ: 8033 Verwendungszweck : 21400 It's a bank in Cyprus. But when I checked the company name they gave me in this email, they would be based in the UK in London... This made me suspicious. Actually it should be a company with two young IT funders who have been at the 'Höhle der Löwen'-show where Bettina Hein is one of the jurors/investors. The two young IT funders created a special software for oil-trading. The brokers name is Petrol 2.0 Intal. I do have their Email as well as a german written paper where they have been writing about this Petrol 2.0 Intal, how it works, etc.. and of course my accounton Just in case you need more information material. I would very much appreciate it, if you could check that professionally for me. Many thanks for your help and advise. Kind regards, Anja

  • Is This Online Broker Safe?
Answer: Hi Anja,

Based on the information found on the broker’s website CFX Fund ( is regulated and licensed in various jurisdictions around the world:

  • CFX Fund Cyprus Ltd is registered in Cyprus with company registration number 310943 with the Department of the Registrar of Companies and Official Receiver. CFX Fund Cyprus Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 272/15 . The registered office of CFX Fund Cyprus Ltd is: Digeni Acrita 72, 1070 Nicosia, Cyprus.
  • CFX Fund UK Limited is authorized and regulated with the Financial Conduct Authority (FCA) of the United Kingdom. Registration Number 217689. At, we adhere to the high regulatory standards and the security of your funds is our top priority.
  • CFX Fund PTY Ltd holds AFSL No. 234426 issued by ASIC, FSP No. 33970 issued by the FMA in New Zealand, and Authorized Financial Services Provider No. 51024 issued by the FSCA in South Africa.

Drawing from the licenses listed, this broker appears to be tightly regulated and reliable and may offer account opening in all the jurisdiction so particular investor will fall under the regulation matches personal residency.

However, our additional research uncovered that the mentioned license numbers belong to other companies registered under the mentioned authorities so the company may indeed be very new in the business and bought the licenses from previously run Brokers. Besides, there are predominantly negative customer reviews, particularly concerning issues with the withdrawal process and customer support.

So in our conclusion about CFX Fund, we would strongly advise exercising caution when selecting to trade with the broker. Prior to investing, ensure that the broker offers a variety of deposit and withdrawal methods suitable for your region, since the broker is multiply regulated ensure under which entity you’re opening an account so the payment method should be provided with addresses matching the entity region too.

One response to “Is this online broker safe?”

  1. It`s true. I wanted to withdraw the 250 € one payment, after my account was worth more than 1000 € and got no answers to my questions neither emails, Austrian telephone numbers were fake, the WhatsApp account has a British phone number, my questions were read but not answered, my two voice calls were not answered,

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