Score
FRX
United Kingdom|2-5 years| https://www.frxmarkets.com
Website
Rating Index
Contact
Licenses
Licensed Institution：Noor Capital UK Limited
License No.：631382
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic Information
United Kingdom
Account Information
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Website
frxmarkets.com
Server Location
United States
Website Domain Name
frxmarkets.com
Server IP
104.21.20.246
Company Summary
| FRXReview Summary | |
| Founded | 2019-10-19 |
| Registered Country/Region | United Kingdom |
| Regulation | Suspicious Clone |
| Market Instruments | Forex/Commodities/Metals/CDFs/Cryptocurrencies/Indices |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 0.8 pips |
| Trading Platform | MT5(Mobile(Android/iOS)/Desktop/Mac) |
| Min Deposit | $100 |
| Customer Support | Email: support@frxmarkets.com |
| Live support | |
| YouTube/Facebook/Instagram/Twitter | |
FRX Information
FRX is a brokerthat provides 1500+ tradable instruments including forex, commodities, metals, CDFs, cryptocurrencies, and indices. The broker also provides three real accounts with a maximum leverage of 1:500. The minimum spread is from 0.8 pips and the minimum deposit is $100. FRX is still risky due to its suspicious clone status.
Pros and Cons
| Pros | Cons |
| Leverage up to 1:500 | Suspicious Clone |
| 24/5 multi-lingual support | Negative comments about money disappear |
| MT5 available | |
| Spread from 0.8 pips | |
| Demo account available | |
| Various tradable instruments |
Is FRX Legit?
FCA regulates FRX with license number 631382, while the current status is 'suspicious clone'.
What Can I Trade on FRX?
FRX offers a wide range of market instruments, including forex, commodities, metals, CDFs, cryptocurrencies, and indices.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Metals | ✔ |
| CDFs | ✔ |
| Cryptocurrencies | ✔ |
| Indices | ✔ |
| Stocks | ❌ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
FRX has three account types: standard, VIP, and ECN. Traders who want low spreads and low leverage can choose an ECN account, while those with a small budget can open a standard account. In addition, the demo account is predominantly used to familiarize traders with the trading platform and for educational purposes only.
| Account Type | Standard | VIP | ECN |
| Minimum Funding | USD 100 | USD 1000 | USD 10000 |
| Leverage | Up to1:500 | Up to 1:500 | Up to 1:200 |
| Order volume | From 0.01 with step 0.01 | From 0.01 with step 0.01 | From 0.01 with step 0.01 |
| Spreads | From 1.8 pips | From 1.4 pips | From 0.8 pips |
| Commission | No | No | No |
| Stop Out level | 20% | 20% | 20% |
FRX Fees
The spread is 0.8 pips, and the commission is 0. The lower the spread, the faster the liquidity.
Leverage
The maximum leverage is 1:500 meaning that profits and losses are magnified 500 times.
Trading Platform
FRX cooperates with the authoritative MT5 trading platform available in Mobile(Android/iOS), Desktop, and Mac to trade. Traders with rich experience are more suitable for using MT5. MT4 and MT5 not only provide various trading strategies but also implement EA systems.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Mobile(Android/iOS)/Desktop/Mac | Experienced traders |
Deposit and Withdrawal
The minimum deposit is $100. FRX accepts Visa, MasterCard, Tether, Bitcoin, and Bank Wire for deposit and withdrawal, whose deposit speed is instant and withdrawal speed is up to 3 to 7 days.
| Funding Methods | Minimum Deposit | Deposit Speed | Withdrawal Speed |
| Visa | 100 USD | Instant | 3-7 Days |
| MasterCard | 100 USD | Instant | 3-7 Days |
| Tether | 100 USD | Instant | Instant |
| Bank Wire | 5000 USD | Instant | Instant |
| Bitcoin | 100 USD | Instant | Instant |
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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WikiFXMalaysia
Malaysia
They showed me a lot of good trading records, said it was their students' grades, and then asked me to buy courses and earn while learning. As a result, I gave money but they disappeared.
Exposure
2021-09-14
WikiFXMalaysia
Malaysia
They showed me a lot of good records, and then asked me to buy courses and earn money while learning. But I couldn't get in touch with them after payment.
Exposure
2021-09-13
FX1411334836
Australia
I was initially impressed by the tight spreads advertised on FRX's website, but upon further investigation, I found that those were only for a few select trading products. For the majority of the instruments, the spreads were actually quite high. I feel kinda cheated and thus have no interest trading here.
Neutral
2023-03-20
FX1323453781
United Kingdom
FRX is a good platform for all kinds of traders. Transparent about fees, there are many different types of investments, forex, commodities, indices, cryptocurrencies, etc. Demo accounts are good for beginners. I have been a member for 2 months and I am very satisfied.
Positive
2023-03-07