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ForexPay -

Score

1.37 /10
Danger

ForexPay

China

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.forexpay.io

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Comparison

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Exposure

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Website

Score

Regulatory Index0.00

Business Index5.93

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
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

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Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

ForexPay · Company summary
Basic Information
Registered Countries N/A
Regulation No License
Company Name ForexPay
Minimum Deposit N/A
Maximum Leverage N/A
Minimum Spread N/A
Trading Platform N/A
Trading Assets Not specified
Payment Methods N/A
Customer Support Twitter, Facebook, Instagram

General Information

ForexPay claims that it is an online investment platform offering a series of trading services. with its registered place undisclosed to all, we assume that this is probably a scammer. ForexPay inaccessible official website and lack of essential information make us struggle in presenting a comprehensive picture of this broker.

When it comes to regulation, obviously, ForexPay disappoints us a lot. This broker is not regulated by any regulatory authority, and here we can see that WikiFX has given it a very low score of 1.10/10. Trading with an unregulated broker is like playing fire. Please be aware of the risk involved.

wikifx-score

Leverage

Trading leverage is not mentioned anywhere. However, this is the leverage rule set by most regulatory authorities: the maximum leverage for major currencies up to 1:30 in Europe and Australia, and 1:50 in the United States and Canada.

Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size, no more than a 1:10.

Customer Support

No contact channels are provided for clients who have any inquiry or trading-related issues to get in touch with this broker. You can only follow this broker on Twitter, Facebook, or Instagram.

Risk Warning

Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.

The information presented in this article is intended solely for reference purposes.

Pros & Cons

Pros Cons
None No regulation
Insufficient company information
Poor customer support

Frequently Asked Questions

Is ForexPay regulated？

No, ForexPay is not regulated anyway.

What trading instruments can I trade with on ForexPay？

What trading instruments provided by ForexPay is not specified.

How can I contact ForexPay？

You can only follow ForexPay on some social media platforms, Twitter, Facebook, and Instagram.

User Reviews

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User comment

2

Comments

Write a review

FX1457086786
more than one year
Sure, I've seen people raving about them on social media, but when I checked out their website, I found the trading information to be anything but transparent. And let's not forget the fact that they're completely unregulated. That's a huge red flag in my book. Anyway, I won't trade with this broker.
Sure, I've seen people raving about them on social media, but when I checked out their website, I found the trading information to be anything but transparent. And let's not forget the fact that they're completely unregulated. That's a huge red flag in my book. Anyway, I won't trade with this broker.
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2023-03-29 10:26
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Brook 
more than one year
The strange thing is that the ForexPay website is no longer open and I can't find much information about it online. Maybe it's a small company that didn't survive its first year.
The strange thing is that the ForexPay website is no longer open and I can't find much information about it online. Maybe it's a small company that didn't survive its first year.
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2022-12-16 16:51
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