AFX Trade LLC Review
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Fast Facts
Contact Info and Support
Traffic information
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About AFX Trade LLC
AFX Trade LLC is not authorised by the UK Financial Conduct Authority (FCA) to provide financial services or products in the UK; the FCA issued a public warning on 18 July 2022 confirming that status, noting consumers would lack access to the Financial Ombudsman Service and the Financial Services Compensation Scheme () ().
The entity presents addresses in both London (22 Bishopsgate, EC2N 4AJ) and the Marshall Islands, registered with number 112708 in the Marshall Islands registry—a jurisdiction that does not regulate forex activities () ().
The broker operates without any recognised regulatory licences. It claims operations in SVG (Saint Vincent & the Grenadines), but the SVG Financial Services Authority does not supervise forex or CFD brokers () ().
Trading conditions are disclosed on its website: four account tiers (Base, Gold, Platinum, VIP) with minimum deposits from USD 250 to USD 100 000, spreads ranging (e.g., EUR/USD from ~2 pips down to ~0.2 pips), and leverage up to 1:400 () ().
The platforms offered—MT4 and MT5—appear to be generic demo versions from MetaQuotes, not configured for live trading. The website reportedly may not function properly, with client area inaccessible in some cases () ().
The Financial Commission placed AFX Trade on its Warning List on 27 July 2022, advising against doing business with the company due to reports of scam and fraud risk () ().
Pros and cons
Pros
- No verifiable regulated operations or protection schemes supporting the broker.
Cons
- Unauthorised by the FCA; UK investors have no legal protection ().
- Incorporated in offshore jurisdictions without financial regulation (Marshall Islands, SVG).
- Trading platforms appear to be demo-only, not live-capable.
- High minimum deposits, high spreads, and excessive leverage (up to 1:400) not permitted by regulated jurisdictions.
- Included in the Financial Commission’s Warning List for potential scam activities.
