FXPace Review
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Review
Fast Facts
Contact Info and Support
Traffic information
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About FXPace
FXPace operates under the name Salvax Limited, reportedly registered in Bermuda with registration number 53275; however, no matching record appears in the Bermuda Monetary Authority’s registry, confirming the broker lacks legitimate regulatory authorization. Spain’s Comisión Nacional del Mercado de Valores (CNMV) issued a warning on 13 January 2020, stating FXPace provides financial services in Spain without proper authorization. These facts indicate FXPace functions as an unregulated entity and potentially presents significant risks to clients.
Trading conditions associated with FXPace include a minimum deposit of USD 100, maximum leverage up to 1:500, and access via the MetaTrader 4 (MT4) platform. The broker offers various asset classes such as over 80 currency pairs, plus CFDs covering gold, silver, commodities, and stocks. Deposit and withdrawal methods include bank wire transfers (SWIFT).
Pros and cons
Pros
- Wide range of tradable instruments including forex pairs and CFDs across multiple asset classes.
- Uses the MetaTrader 4 trading platform.
Cons
- No regulation or license; registration claims unverified by Bermuda’s regulator.
- Subject of a formal warning by Spain’s CNMV for unauthorized financial services.
- Reports of withdrawal difficulties and lack of investor protection due to unregulated status.
