User Reviews
More
User comment
0
CommentsWrite a review
No comment yet
No Regulation
Score
1.68 /10
Danger
SouqFX
Within 1 yearSuspicious Regulatory License
MT5 Full License
Regional Brokers
High potential risk
Influence
D
Add brokers
Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index3.45
Risk Management Index0.00
Software Index8.21
License Index0.00
Time Machine
Website
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
1G
40G
open now
Check whenever you want
Download App for complete information
Warning: Low score, please stay away!
Previous Detection :
2025-05-25
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| SouqFXReview Summary | |
| Founded | 2024 |
| Registered Country/Region | Saint Lucia |
| Regulation | No regulation |
| Market Instruments | Forex, indices, cryptocurrencies, commodities, shares & ETFs, treasuries |
| Demo Account | ❌ |
| Leverage | / |
| Spread | From 0 pips |
| Trading Platform | MT5 |
| Min Deposit | / |
| Customer Support | Linkedin, facebook, instagram, X, youtube, tiktok |
| 24/7 customer support | |
| Tel: +44 7473 124681 | |
| Email: info@souqfxpro.com | |
SouqFX Information
SouqFX is an unregulated broker, offering trading on Forex, indices, cryptocurrencies, commodities, shares & ETFs and treasuries with spread from 0 pips on MT5 trading platform.
Pros and Cons
| Pros | Cons |
| Tight spreads | No regulation |
| Various contact channels | No demo accounts |
| MT5 platform |
Is SouqFX Legit?
No. SouqFX currently has no valid regulations. Please be aware of the risk!
What Can I Trade on SouqFX?
SouqFX offers trading on Forex, indices, cryptocurrencies, commodities, shares & ETFs and treasuries.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Commodities | ✔ |
| Shares & ETFs | ✔ |
| Treasuries | ✔ |
| CFDs | ❌ |
| Bonds | ❌ |
| Stocks | ❌ |
Account Type
The broker has not clearly provided the account types it offers, only shown that it has swap-free accounts.
Leverage
The broker has not clearly provided the leverage it offers. It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.
SouqFX Fees
Trading Fees
The broker says that it requires no additional fees.
SouqFX Spreads
The spread is from 0 pips.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | App Store, Google Play, Windows, Web | Experienced trader |
| MT4 | ❌ | Beginners |
Deposit and Withdrawal
No minimum deposit or withdrawal amount defined and no fees or charges specified. Please be aware of the risk!
start to write first comment