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Score

1.36 /10
Danger

MoreFx way

United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://morefxway.com

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Score

Regulatory Index0.00

Business Index5.87

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Warning: Low score, please stay away!
Previous Detection : 2024-12-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

MoreFx way · Company summary
MoreFX way Review Summary
Founded/
Registered Country/RegionUnited Kingdom
RegulationUnregulated
Market InstrumentsCryptos, indices, Forex, Energies, and shares
Demo Account❌
LeverageUp to 1:5000
SpreadFrom 0.1 pips
Trading PlatformNone
Min Deposit$500
Customer SupportEmail: support@morefxway.com
Address: 71 Cherry Court SOUTHAMPTON SO53 5PD UK

MoreFX way Information

MoreFX way is a multi-asset broker registered in the UK, offering trading on cryptos, indices, Forex, Energies, and shares with leverage up to 1:5000 and spread from 0.1 pips. However, there is no available trading platform, and the minimum deposit requirement is as high as $500. More worse, it currently has no valid regulatory licenses.

MoreFX way's homepage

Pros & Cons

ProsCons
Various trading instrumentsNo legit forex license
Multiple account typesInaccessible website
No functional trading platform
Extremely high minimum deposit
Limited payment options
Only email support

Is MoreFX way Legit?

No. MoreFX way currently has no valid regulations. Please be aware of the risk!

No license

What Can I Trade on MoreFX way?

Overall, the tradable asset classes are abundant, including forex, energies, indices, shares, and cryptos. But except for enrgies, other commodities do not seem to be available.

Tradable Instruments Supported
Forex✔
Energies✔
Indices✔
Shares✔
Cryptos✔
Commodities❌
Bonds❌
Options❌
ETFs❌

Account Type

There are four account types: Starter, Silver, Gold and Platinum accounts. The minimum deposit requirement is extremely high, up to $500, while most other brokers only requires $100, or even no minimum threhold.

Account TypeMinimum Deposit
Starter$500
Silver$1 000
Gold$2 500
Platinum$15 000
Account comparison

Leverage

The leverage is capped at 1:5000.

Trading InstrumentMaximum Leverage
Gold, Japan1:5000
EUR/USD1:1000
Bitcoin, Ethereum, Litecoin, Ripple, EOS, S&P 500, Crude oil1:100
Leverage

It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Trading Platform

MoreFX way claims to offer the leading MT4 platform, but in reality, there is not any trading platforms available.

Trading PlatformSupported Available Devices Suitable for
MT4❌/Beginners
MT5❌/Experienced traders
cTrader❌//
TradingView❌//
Webtrader❌//
Mobile App❌//

Deposit & Withdrawal

MoreFX way only suppports deposits and withdrawals via Bitcoin & Ethereum. Other popular methods like bank transfers, credit/debit cards, Skrill, and Neteller are not supported.

Deposit & Withdrawal

User Reviews

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User comment

3

Comments

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Wender
more than one year
Support was quick and precise in giving a direct guidance to resolving the issue of my hanging deposit. Although I missed a trade due to the hanging deposit and expect them to ensure a faster and total completion of deposit transactions next time.
Support was quick and precise in giving a direct guidance to resolving the issue of my hanging deposit. Although I missed a trade due to the hanging deposit and expect them to ensure a faster and total completion of deposit transactions next time.
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2024-07-16 18:51
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jewhdi
more than one year
My biggest gripe is the length of time it takes to credit dividends to my account. It is the slowest of all the brokers I know of, a full business day after the issue. If all others credit that day, why can’t they? I wasn’t aware of this before hand, and would have thought twice if I had. Affects prices a lot in my ISA account when trying to reinvest them.
My biggest gripe is the length of time it takes to credit dividends to my account. It is the slowest of all the brokers I know of, a full business day after the issue. If all others credit that day, why can’t they? I wasn’t aware of this before hand, and would have thought twice if I had. Affects prices a lot in my ISA account when trying to reinvest them.
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2024-05-17 18:44
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