TradeFX

TradeFX Review 2021: Is This Unregistered Broker Legitimate?

Online forex and CFD broker TradeFX offers financial services despite having no registration with any relevant financial regulator. Their parent company, Trade FX Pte Ltd, operates out of Singapore. They have a business registration there, but this is distinct from registering with the Monetary Authority of Singapore. Brokers need to register with the MAS to offer their services legitimately, but this broker hasn’t.

Broker status:Unregulated
Regulated by:No regulation
Scammers Websites:https://www.tradeforex1.com/ 
Owned by:Trade FX PTE Ltd
Headquarters Country:Singapore
Foundation year:2017
Supported Platforms:MT4
Minimum Deposit:$250
Cryptocurrencies:No
Types of Assets:Forex, commodities, indices, stocks, futures
Maximum Leverage:1:200
Free Demo Account:Yes
Accepts US clients:No

The Offerings From TradeFX

The broker has four different account types for their clients. The first is their Standard account. The minimum deposit to set up this account is $250. The broker advertises spreads starting from 1 pip with this account, although their spreads are much higher in practice. Their next account, Premium, doesn’t have any notable advantages over the standard. They have an ECN Pro account that offers spreads as low as pips and adds a $6 commission for each lot.

Trading Assets

Our TradeFX review found an unremarkable selection of trading products. Their currency pair variety is standard, and they have similar CFDs to comparable brokers like ROinvesting. The actual spreads offered by this broker are much worse than what they advertise on their website. A Standard account has a EUR/USD spread of 2.8 pips, significantly higher than their advertised spread of 1 pip. This is several times what traders would expect from a competitive forex broker.

TradeFX Trading Platform

TradeFX gives clients access to MetaTrader 4. The popular trading platform has a very professional trading feature that investors could ever want. The broker places a strong focus on allowing automated expert advisors to trade for their clients. They offer virtual private server access to enable traders to run automated trading even when their computer isn’t running. There is a charge for this service, but any clients who deposit $20,000 or more do not have to pay.
Traders can access leverage up to 1:200 with this broker. This broker is unregistered – they don’t face any immediate consequences for exceeding the ESMA’s regulatory limit of 1:30 leverage. With this kind of leverage, inexperienced traders could lose their whole deposit before they know what hit them.

Problem with withdrawing funds  

Since TradeFx has no regulation for providing financial services, we were not surprised to see many clients reported withdrawal issues. According to TradeFX reviews, this broker is suspending your account once you want to withdraw your funds. The first thing we tried to check are conditions for withdrawals – minimum amount, fees, commissions. And, as expected from an illicit broker, we found nothing. If you had any issues withdrawing your funds, file a complaint about the broker immediately. Do not wait, report the TradeFX scam and Ask for your funds back.

Recovering Your Funds From Unregistered Brokers

Even though they’re a registered business, TradeFX isn’t a registered broker. Unregistered brokers don’t have the same consumer protections in place as registered brokers. Traders can lose everything very quickly trading with them. Suppose you’ve lost the deposit you paid to an unregistered broker. In that case, you can contact us now to take a close look at the possibility of recovering your funds.

Your Details

Let us know how to get back to you.


How can we help?

Feel free to ask a question or simply leave a comment.


Is TradeFX Review regulated?

TradeFX is a Singapore-based broker that does not have MAS or any other trading license. We can safely say that this broker is unregulated. Therefore, trading with this broker is unsafe, and it’s a high risk for your funds. We recommend you find a tier-1 regulated broker.

Where is TradeFX based?

TradeFX claims on its website that it is based in Singapore. However, there is no exact address, and we couldn’t find it in the MAS register. As far as we can tell, the broker can operate from anywhere around the world, conducting its scam. Be careful not to get involved with TradeFX.

When the TradeFX broker was registered

TradeFX broker exists since 2017 but was never registered with any regulatory body. It is operating illegally, without a license. According to its website, it is based in Singapore, however, there is no proof for those statements. We couldn’t find the broker in the MAS register.

Related Posts

2 Responses
  1. forex boriker

    It’s not my first time to go to see this site, i am browsing this site dailly and take fastidious information from here
    all the time.

  2. Christ public

    I invested a total of $75,000.00USD worth of Bitcoin with an online company who does trading and was guaranteed a payout of 25% a week. They ended up shutting down their company website but their website was still running. So I could still see my dashboard at that time and instead of paying weekly they ended up compounding my money. It ended up compounding to $179,000USD so I requested for a withdrawal which was declined before they shutdown their website.

Leave a Reply

Report A Scam!

Check Your Eliglebility To Get A Refund

Most Read

Glluck FX Review
Glluck FX Detailed Review
September 17, 2021
Future 500 FX review
Future 500 FX Detailed Review
September 16, 2021
Group 500 Review
Group 500 Detailed Review
September 14, 2021




CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin47,675 0.39 % 0.83 % 2.49 %
Ethereum3,355.6 0.65 % 3.52 % 26.76 %
Cardano2.380 0.05 % 3.16 % 5.70 %
Tether1.000 0.00 % 0.10 % 0.13 %
Binance Coin412.10 0.19 % 3.45 % 2.32 %
XRP1.070 0.41 % 3.00 % 1.86 %
Solana145.39 3.38 % 6.61 % 22.78 %
Polkadot34.04 0.62 % 2.84 % 14.64 %
Dogecoin0.2443 0.27 % 1.11 % 3.37 %
USD Coin1.000 0.09 % 0.10 % 0.07 %

Latest News

10TradeFX
10TradeFX Review: Could This Broker Scam You?
April 11, 2021
ForexTB Review
ForexTB Review:Could This Broker Scam You?
April 10, 2021
Alvexo Review
Alvexo Review: Could This Broker Scam You?
April 9, 2021

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Please install and activate the "Newsletter" plugin to show the form.