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Score

1.63 /10
Danger

PatronFX

Cyprus

5-10 years

Regulated in Cyprus

Straight Through Processing(STP)

Suspicious Scope of Business

High potential risk

https://www.patronfx.com/eu

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Score

Regulatory Index3.51

Business Index7.95

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
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Licenses

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

Single Core

1G

40G

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Regulatory disclosure

Danger

PL KNF
2024-04-22
Notification of suspected criminal offence punishable under Article 178 of the Act on trading in financial instruments (engaging in activities in the field of trading in financial instruments without the required authorisation or power of attorney) Forex TB Ltd. (www.patronfx.com)
PatronFX

Sanction

CY CYSEC
2022-06-30
CYSEC Board Decision
PatronFX
FOREX TB

Broker Information

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Company Name

Forex TB Limited

Company Abbreviation

PatronFX

Platform registered country and region

Cyprus

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-12-22
  • 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

PatronFX

Cyprus

WikiFX Verification

PatronFX · Company summary
PatronFXReview Summary
Founded2015
Registered Country/RegionCyprus
RegulationCySEC
Market InstrumentsForex, commodities, stocks, indices, CFDs, and cryptocurrencies
Demo Account/
LeverageUp to 1:400
EUR/USD Spread3.0 pips (Basic account)
Trading PlatformWeb Trader and Web mobile
Min Deposit€250
Customer Support24/5 support
Email: info@patronfx.com
Address: Lemesou Avenue 71, 2nd Floor, 2121, Aglantzia, Nicosia, Cyprus

Founded by Forex TB Limited in 2015, PatronFX provides many trading assets, including forex, commodities, stocks, indices, CFDs, and cryptocurrencies with leverage up to 1:400 and spread of 3.0 pips on the Basic account via Web Trader and Web mobile platforms. Additionally, it is regulated by CySEC. However, its minimum deposit is as high as €250.

PatronFX's homepage

Pros and Cons

Pros Cons
Regulated by CySECWide spreads
Various trading assetsNo MT4 or MT5
Multiple account typesHigh minimum deposit
No commissions
Popular payment options
No deposit fees

Is PatronFX Legit?

Regulated Country Regulated Authority Current StatusRegulated Entity License TypeLicensed Number
Cyprus
The Cyprus Securities and Exchange Commission (CySEC)RegulatedFOREX TB LtdStraight Through Processing (STP)272/15
Regulated by CySEC

What Can I Trade on PatronFX?

PatronFX provides more than 290 CFD assets, including Forex, commodities, stocks, indices, CFDs, and cryptocurrencies.

Tradable Instruments Supported
Forex✔
Commodities✔
Stocks ✔
Indices ✔
CFDs✔
Cryptocurrencies ✔
Bonds❌
Options ❌
ETFs❌

Account Type

PatronFX provides four account types: Basic, Gold, Platinum and VIP.

Account TypeMin Deposit
Basic€250
Gold€25,000
Platinum€100,000
VIP€250,000
Account comparison

Leverage

PatronFX's leverage is up to 1:400 for all account types, which is high, but you are always suggested to use leverage prudently since it amplies not only your gains, but also losses.

Spread and Commission

Account TypeSpreadCommission
Basic3.0 pips❌
Gold2.7 pips❌
Platinum2.1 pips❌
VIP1.6 pips❌
Account TypeBasicGoldPlatinumVIP
EUR/USD3.0 pips2.7 pips2.1 pips1.6 pips
GBP/USD3.4 pips3.1 pips2.5 pips2.0 pips
USD/JPY3.3 pips3.0 pips2.4 pips1.9 pips
CRUDE OIL$0.12$0.11$0.10$0.08

Trading Platform

Trading PlatformSupported Available Devices Suitable for
Web Trader ✔Web/
Web mobile✔Mobile/
MT4❌/Beginners
MT5❌/Experienced traders
Trading Platform

Deposit and Withdrawal

Deposit Options

PatronFX supports deposits via credit/debit card, e-Wallets and wire transfer. The minimum deposit is €250 and there are no deposit fees.

Withdrawal Options

PatronFX supports withdrawal via wire transfer, credit cards, Skrill and Neteller.There is no minimum amount for withdrawals made to credit cards, Skrill or Neteller. However, minimum limits apply for withdrawals made by wire transfer: ₣100, $120, €100, £80, ₽7,000. Besides, withdrawal requests are processed within 24 business hours.

Account TypeWithdrawal
Basic1 Free Withdrawal
Gold1 Monthly Free Withdrawal
Platinum3 Monthly Free Withdrawals
VIP❌
Deposit and Withdrawal FAQs

User Reviews

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User comment

2

Comments

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南山南7422
more than one year
My friend told me that CYSEC is not a reliable regulator. Maybe it used to be, but now it's not so strict. Some scam companies are still under its supervision. To be on the safe side, I would not choose this company.
My friend told me that CYSEC is not a reliable regulator. Maybe it used to be, but now it's not so strict. Some scam companies are still under its supervision. To be on the safe side, I would not choose this company.
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2023-02-17 16:02
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Z 。
more than one year
Spreads offered by Patron FX are wide, with eur/usd pair starts from 3.0 pips… Also insanely high minimum deposit requirements, with a Gold account from 25,000 euros… these scare me so much😂
Spreads offered by Patron FX are wide, with eur/usd pair starts from 3.0 pips… Also insanely high minimum deposit requirements, with a Gold account from 25,000 euros… these scare me so much😂
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2023-02-16 17:41
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