ForexFXM Review

About ForexFXM

ForexFXM is presented as a strategy provider regulated by the Czech National Bank (CNB) under license number 19819145, and is part of Wealth Wave Affiliation LTD; correspondence regarding the license is directed to compliance@wealthwaveaffiliation.com and additional information is available via the Wealth Wave Affiliation Ltd official site (e.g. , )

The platform offers services including trading signals, strategies, educational content for forex, stocks, gold, and indices. However, it acts as a strategy provider—not a fully regulated broker—which implies that protections typical for brokers may not apply to users (source: ).

The UK Financial Conduct Authority (FCA) issued a warning against ForexFXM (also known as “FOREX FXM” and “@JOSHTHETRADERFX”), declaring it an unauthorised firm and advising the public to avoid dealing with it; this applies to UK consumers and highlights that clients would not be protected by FSCS or the Financial Ombudsman Service (resolution first published 04/06/2025, updated 07/11/2025) (source: ).

Pros and cons

Cons

• Regulated only as a strategy provider under CNB license; not a broker—limits investor protection.
• Flagged by FCA as an unauthorised firm targeting UK residents, with associated regulatory warnings and lack of client protection.
• Trust and risk assessments from third-party tools display contradictory signals (low trust score 36.4/100 on Scam Detector vs. average to good on ScamAdviser), raising transparency concerns—regulatory sources take precedence.