Forepay Review
12
Fast Facts
Contact Info and Support
Traffic information
| Category | Metrics | Meaning |
|---|---|---|
| Ratings | Global Rank | - |
| Country Code | - | |
| Country Rank | - | |
| Category Rank | - | |
| Engagement metrics | Visits | 0 |
| Bounce Rate | 0 | |
| Pageviews per Visit | 0 | |
| Avg. Visit Duration | 0 | |
| Estimated monthly visits | July 2025 | 0 |
| August 2025 | 0 | |
| September 2025 | 0 | |
| Traffic sources | Social | - |
| Paid Referrals | - | |
| - | ||
| Referrals | - | |
| Search | - | |
| Direct | - |
About Forepay
Forepay operates via the domain forepay.co and claims to be owned by Elysian Group LLC, registered in Saint Vincent and the Grenadines under SVG FSA company number 2359 LLC 2022; however, SVG FSA does not regulate forex brokers and does not authorize foreign exchange trading services, therefore Forepay holds no valid regulatory licenses (). The Spanish regulator CNMV issued a warning on 20 February 2023 stating that Forepay is not authorized to provide investment services (). BrokersView classifies the operating status of Forepay as “SCAM” ().
Trading conditions offered by Forepay allegedly include a minimum deposit of USD 250, leverage up to 1:200 (some review sources cite 1:100 in other contexts), and spreads of around 3 pips on EUR/USD; trading is conducted via a web-based platform (). Customer funds are not segregated, there is no compensation or negative balance protection, and deposit/withdrawal is only via cryptocurrencies (Bitcoin, Ethereum, Tether), despite claims of support for cards and bank transfers ().
Pros and cons
Pros
- Minimum deposit requirement of USD 250
- Web-based trading platform
Cons
- No regulatory licensure or oversight
- Warning issued by the Spanish CNMV (20 February 2023)
- High spreads (~3 pips on EUR/USD)
- High leverage (up to 1:200)
- Only accepts cryptocurrency deposits/withdrawals
- No client fund protection, segregation, or compensation mechanisms
