Score
FazoFX
Saint Vincent and the Grenadines|2-5 years| https://fazofxcorp.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Contact number
+60 1158665344
+44 7477481828
Other ways of contact
Broker Information
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FazoFX Liquidity Corp Limited
FazoFX
Saint Vincent and the Grenadines
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:300 |
| Minimum Deposit | 10000 USD |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.02 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | $5 Commission with Swap FREE |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:400 |
| Minimum Deposit | 1000 USD |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.06 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | No Commission with Swap |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 100 USD |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 1.4 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | No Commission with Swap |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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FazoFX · Company Summary
Note: FazoFX' official website: https://fazofxcorp.com/ is currently inaccessible normally.
| FazoFX Review Summary | |
| Founded | 2024 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | Unregulated |
| Market Instruments | CFDs on Forex, Commodities and Metals, Indices and Cryptos |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 2.2 pips |
| Trading Platform | MT5 |
| Min Deposit | $100 |
| Customer Support | Service time: 24/7 |
| Phone: +60 1158665344 / +44 7477481828 | |
| Email: info@fazofxcorp.com | |
| WhatsApp, Twitter, Facebook, Instagram, YouTube | |
| Address: First Floor, Vincent Bank Lts Building, Jame Street, Kingstown, St. Vincent and the Grenadines | |
| Regional Restrictions | Not available to residents of the USA, Canada, Sudan, Syria, North Korea, Iran, Iraq, Mauritius, Myanmar, Yemen, Afghanistan, Vanuatu and EEA countries. |
FazoFX is a forex broker based in Saint Vincent and the Grenadines, offering trading on a variety of instruments including forex, cryptocurrencies, metals, commodities, indices, and stocks. They allow trading through the popular MetaTrader 5 platform and offer features like a demo account, mobile app, and 24/7 customer support.
However, FazoFX is subject to regional restrictions and is not available to residents of certain countries, including the USA, Canada, and EEA countries. Additionally, they are not regulated by any major financial authority.
Pros and Cons
| Pros | Cons |
| Diverse range of instruments | Lack of regulation |
| MT5 provided | Inaccessible website |
| Flexible leverage ratios | High spreads |
| Regional restrictions |
Is FazoFX Legit?
There are numerous unlicensed brokers based in Saint Vincent and the Grenadines, and FazoFX certainly falls into this category. Given the lack of information about any legal license or jurisdiction of registration, we are compelled to classify FazoFX as a scam and completely unlicensed broker.Besides, recently, traders have no access to their website.
What Can I Trade on FazoFX?
On FazoFX, you can enter CFDs on Forex, Commodities and Metals, Indices and Cryptos.
| Tradable Instruments | Supported |
| CFDs | ✔ |
| Forex | ✔ |
| Commodities | ✔ |
| Metals | ✔ |
| Indices | ✔ |
| Cryptos | ✔ |
| Stocks | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type
FazoFX offers three kinds of live accounts - the Raw ECN, Professional and Standard account with the minimum deposits of $10,000 and $ 1,000 and $100 respectively.
Leverage
FazoFX offers 1:500 for the Standard accounts. Besides, it also offers 1:300 for the Raw ECN and 1:400 for the Professional accounts. High leverage can lead to substantial profits, but it also involves a high level of risk, resulting in significant losses.
Fees
FazoFX charges $5 commission with swap free for the Raw ECN account. Besides, it offers the spread of 2.2 pips, higher than regulated brokers.
Trading Platform
FazoFX officially provides the MT5 trading platform. But the exact method by which they obtained it remains unclear. Due to the broker's unlicensed and illicit status, which raises concerns about potential hidden malware within the MT5 file.
Deposit and Withdrawal
The deposit methods accepted by FazoFX are bitcoin and wire transfers. Both NganLuong e-wallet and wire transfers lack a chargeback feature, which is a common reason why scammers often use these methods for deposits. Additionally, traders dealing with illegitimate firms frequently find themselves restricted to using one of these two options.
News
ExposureWikiFX Broker Assessment Series | Is FazoFX Reliable?
Have you ever heard of a broker named FazoFX? In this article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information.
WikiFXExposure"Fake broker, Fake website" User accused
A user from India filed a complaint against FazoFx. The complainant wrote, “In February, I got a random call. He asked me to open an account with FazoFx. He said he would handle my account, and profit sharing would be 50%.
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