General Information
Established in 2022, FOX FX is an offshore forex broker registered in Saint Vincent and the Grenadines, providing high leverage of up to 1:1000. Besides, FOX FX boasts that it offers clients access to a series of trading instruments, multiple trading accounts to choose from.
Is FOX FX safe to trade with？
FOX FX is the trading name of FOX FX Limited, a company incorporated under registered number 26680 BC 2022 by the Registrar of Business Companies, of Saint Vincent and the Grenadines.
When it comes to regulation, it has been verified that FOX FX is not authorized or regulated by any regulatory authorities. Thats why its regulatory status on WikiFX is marked as “No License” and It receives a pretty low score of 1.09/10.
Trading with an unregulated forex broker is a surefire way to lose your money. Please be aware of the risk.
Market Instruments
With FOX FX, clients can get access to a series of trading instruments, such as Forex, Commodities, Index, Index CFDs, Cryptos.
Account Types
Aside from demo accounts, three tiered trading accounts are offered by FOX FX, with the minimum initial deposit absurdly high.
To open a Starter account, traders need to fund as high as $2,000, which is insanely high. Bear in mind that most forex brokers ask for minimum deposit of less than $100 for this types of accounts.
The pro and Royal accounts requires $5,000, and $10,000 to start trading, respectively.
Stop Out: 30% for the Starter Account, 20% for the Pro and Royal accounts
Margin Call: 100%
Leverage
Here is a weird thing: The maximum leverage on the homepage is shown as 1:1000, but when we enter into its account section, the maximum leverage turns into 1:500.
The high leverage of 1:500 is much above the levels considered appropriate by many regulatory authorities. Offering high leverage to attract investors into their traps is a typical tactic employed by most offshore brokers.
Spreads & Commissions
Typically, spreads and commissions are determined by trading accounts. The Starter account offers “Variable” spreads, with no commissions charged. The Pro account offers relatively competitive spreads, from 0.8 pips, with a commission of $8, and the Royal account offers raw spreads, with a commission of $5.
Trading Platform
FOX FX provides its clients access to the leading MT5 trading platform, which can be accessed via Desktop, Mobile and Web. MT5 is among the most popular trading platforms around the world, featuring multiple technical indicators, robust charting package, the ability to use automated trading bots (Expert Advisors), and the flexibility of the interface.
Deposit & Withdrawal
As we mentioned above, the minimum deposit to invest with FOX FX is as high as $2,000. FOX FX allows its clients to make a deposit and withdrawal through some common payment options, including VISA, MasterCard, PayPal, Skrill, Neteller, Bitcoin.
Customer Support
FOX FXs customer support is available 24/5, offering easy access to its email and online chat support.
Here is the email address: support@avant-markets.com.
Company Address: Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines
Besides, you can also follow this brokerage house on Twitter and Instagram.
Risk Waring
Forex and online leverage trading contain a high level of risk, and it is not suitable for all investors.
Please note the information contained in this information is for general information purposes only.
