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FRX -

Score

1.46 /10
Danger

FRX

United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.frxmarkets.com

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Comparison

Quantity 2

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.58

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
Website

Licenses

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

Single Core

1G

40G

open now

Regulatory disclosure

Danger

EE FSA
2022-02-07
Investor alerts - FRX MARKETS
FRX

Broker Information

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Company Name

FRX MARKETS (UK) Ltd

Company Abbreviation

FRX

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-12-31
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Survey

Danger

FRX

United Kingdom

WikiFX Verification

Exposure

2 pieces of exposure in total
Pyramid scheme complaint
Expose
FRX · Company summary
FRXReview Summary
Founded2019-10-19
Registered Country/RegionUnited Kingdom
RegulationSuspicious Clone
Market InstrumentsForex/Commodities/Metals/CDFs/Cryptocurrencies/Indices
Demo Account✅
LeverageUp to 1:500
SpreadFrom 0.8 pips
Trading PlatformMT5(Mobile(Android/iOS)/Desktop/Mac)
Min Deposit$100
Customer SupportEmail: support@frxmarkets.com
Live support
YouTube/Facebook/Instagram/Twitter

FRX Information

FRX is a brokerthat provides 1500+ tradable instruments including forex, commodities, metals, CDFs, cryptocurrencies, and indices. The broker also provides three real accounts with a maximum leverage of 1:500. The minimum spread is from 0.8 pips and the minimum deposit is $100. FRX is still risky due to its suspicious clone status.

FRX Information

Pros and Cons

Pros Cons
Leverage up to 1:500Suspicious Clone
24/5 multi-lingual supportNegative comments about money disappear
MT5 available
Spread from 0.8 pips
Demo account available
Various tradable instruments

Is FRX Legit?

FCA regulates FRX with license number 631382, while the current status is 'suspicious clone'.

Is FRX Legit?
Is FRX Legit?

What Can I Trade on FRX?

FRX offers a wide range of market instruments, including forex, commodities, metals, CDFs, cryptocurrencies, and indices.

Tradable Instruments Supported
Forex✔
Commodities✔
Metals✔
CDFs✔
Cryptocurrencies✔
Indices✔
Stocks❌
Shares❌
ETFs❌
Bonds❌
Mutual Funds❌
What Can I Trade on FRX?

Account Type

FRX has three account types: standard, VIP, and ECN. Traders who want low spreads and low leverage can choose an ECN account, while those with a small budget can open a standard account. In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only.

Account Type StandardVIPECN
Minimum FundingUSD 100USD 1000USD 10000
LeverageUp to1:500Up to 1:500Up to 1:200
Order volumeFrom 0.01 with step 0.01From 0.01 with step 0.01From 0.01 with step 0.01
SpreadsFrom 1.8 pipsFrom 1.4 pipsFrom 0.8 pips
CommissionNoNoNo
Stop Out level20%20%20%

FRX Fees

The spread is 0.8 pips, and the commission is 0. The lower the spread, the faster the liquidity.

Leverage

The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.

Trading Platform

FRX cooperates with the authoritative MT5 trading platform available in Mobile(Android/iOS), Desktop, and Mac to trade. Traders with rich experience are more suitable for using MT5. MT4 and MT5 not only provide various trading strategies but also implement EA systems.

Trading PlatformSupported Available Devices Suitable for
MT5✔Mobile(Android/iOS)/Desktop/MacExperienced traders
Trading Platform

Deposit and Withdrawal

The minimum deposit is $100. FRX accepts Visa, MasterCard, Tether, Bitcoin, and Bank Wire for deposit and withdrawal, whose deposit speed is instant and withdrawal speed is up to 3 to 7 days.

Funding MethodsMinimum DepositDeposit SpeedWithdrawal Speed
Visa100 USDInstant3-7 Days
MasterCard100 USDInstant3-7 Days
Tether100 USDInstantInstant
Bank Wire5000 USDInstantInstant
Bitcoin100 USDInstantInstant
Deposit and Withdrawal

User Reviews

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User comment

3

Comments

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Atiluer
more than one year
I gotta say, the way these guys handle my issues is just magical. Super friendly and the whole experience is awesome. Really glad to be working with the whole team, it's been quite a special ride.
I gotta say, the way these guys handle my issues is just magical. Super friendly and the whole experience is awesome. Really glad to be working with the whole team, it's been quite a special ride.
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2024-02-07 16:34
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FX1411334836
more than one year
I was initially impressed by the tight spreads advertised on FRX's website, but upon further investigation, I found that those were only for a few select trading products. For the majority of the instruments, the spreads were actually quite high. I feel kinda cheated and thus have no interest trading here.
I was initially impressed by the tight spreads advertised on FRX's website, but upon further investigation, I found that those were only for a few select trading products. For the majority of the instruments, the spreads were actually quite high. I feel kinda cheated and thus have no interest trading here.
Translate to English
2023-03-20 18:04
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