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SETFX -

Score

1.51 /10
Danger

SETFX

United Arab Emirates

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

http://setfx.ae

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Score

Regulatory Index0.00

Business Index7.00

Risk Management Index0.00

Software Index4.00

License Index0.00

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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

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Broker Information

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Company Name

SOUTHEAST TRADING LIMITED

Company Abbreviation

SETFX

Platform registered country and region

United Arab Emirates

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2025-01-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

SETFX · Company summary

Note: SETFX's official website - https://setfx.ae/ is currently inaccessible normally.

SETFX Review Summary
Founded/
Registered Country/RegionUnited Arab Emirates
RegulationUnregulated
Market Instruments/
Demo Account/
LeverageUp to 1:500
EUR/USD SpreadFrom 2 pips
Trading Platform/
Min Deposit$100
Customer SupportEmail: support@setfx.ae

SETFX is registered in the United Arab Emirates and is not regulated. It offers four types of accounts, with a maximum leverage of 1:500 and spread from 2 pips. The minimum deposit is $100.

Pros and Cons

Pros Cons
Multiple account typesUnavailable website
Flexible leverage ratiosUnregulated status
High spreads
Unclear fee structure
Limited contact channels

Is SETFX Legit?

No, SETFX is not regulated. Traders should carefully consider the risks it brings when choosing to trade with it.

No license

Account Type

Account TypeMin Deposit
Micro$100
Standard$500
Mini$1,000
Professional$10,000

Leverage

SETFX offers leverage up to 1:500, which can potentially bring high returns, but it also comes with high risks.

Account TypeMax Leverage
Micro100:1
Standard100:1
Mini500:1
Professional100:1

Spread

SETFX offers EUR/USD spread from 2 pips, which is higher than the industry average of 1.5 pips.

User Reviews

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User comment

2

Comments

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孟46937
more than one year
Guys, don't trade with SETFX. This so-called "broker" requires a minimum deposit of $1000 for a mini account, which is outrageous. It didn't occur to me that this was a scam until I foolishly fell for it and deposited my money. My account has been losing money ever since. Trust me, this broker is a complete and utter fraud. Stay far away from SETFX
Guys, don't trade with SETFX. This so-called "broker" requires a minimum deposit of $1000 for a mini account, which is outrageous. It didn't occur to me that this was a scam until I foolishly fell for it and deposited my money. My account has been losing money ever since. Trust me, this broker is a complete and utter fraud. Stay far away from SETFX
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2023-03-28 18:39
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ywjbc
more than one year
SETFX is a fraud company that should never work, they only want to rip off funds from users. These people are Scammers, watch out please because I lost all my funds. Don't trust these guys, they are swindlers & thieves.
SETFX is a fraud company that should never work, they only want to rip off funds from users. These people are Scammers, watch out please because I lost all my funds. Don't trust these guys, they are swindlers & thieves.
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2023-03-07 17:03
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