Score
1-2 yearsRegulated in South Africa
Derivatives Trading License (EP)
MT5 Full License
Regional Brokers
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Score
Regulatory Index3.60
Business Index5.13
Risk Management Index9.28
Software Index9.02
License Index3.60
Single Core
1G
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Company Name
ONAM TRADING (PTY) LTD
Company Abbreviation
TotalFX
Platform registered country and region
South Africa
Company website
Company summary
Pyramid scheme complaint
Expose
| TotalFX Review Summary | |
| Founded | 2000 |
| Registered Country/Region | South Africa |
| Regulation | FSCA (Exceeded) |
| Market Instruments | Forex, shares, indices, cryptocurrencies, metals, energies, ETFs, soft commodities |
| Demo Account | / |
| Leverage | Up to 1:1000 |
| Spread | From 0.0 pips |
| Trading Platform | cTrader, MT5 |
| Copy Trading | ✅ |
| Minimum Deposit | 0 |
| Customer Support | Contact form |
| Tel: +27600389903 | |
| Email: support@totalfx.com | |
| Regional Restrictions | United States of America, North Korea, Myanmar and Iran clients are not allowed |
Founded in 2000, TotalFX is a broker registered in South Africa, offering trading on forex, shares, indices, cryptocurrencies, metals, energies, ETFs and soft commodities with leverage up to 1:1000 and spread from 0.0 pips on cTrader and MT5 trading platform. There is no minimum deposit requirement.
| Pros | Cons |
| Various trading products | Exceeded regulation |
| MT5 and cTrader platforms | Unknown payment methods |
| Copy trading |
TotalFX is licensed by FSCA to offer services but exceeded. Please be aware of the risk!
| Regulated Country | Regulator | Current Status | Regulated Entity | License Type | License No. |
 | Financial Sector Conduct Authority (FSCA) | Exceeded | ONAM TRADING (PTY) LTD | Financial Service Corporate | 51105 |
TotalFX offers trading on forex, shares, indices, cryptocurrencies, metals, energies, ETFs and soft commodities.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Shares | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Metals | ✔ |
| Energies | ✔ |
| ETFs | ✔ |
| Soft commodities | ✔ |
| Bonds | ❌ |
| Options | ❌ |
Here are two account types TotalFX offers:
| Account Type | Minimum Deposit | Spread | Commission |
| Zero | 0 | From 0.6 pips | $0 |
| Raw | 0 | From 0.0 pips | $2.75 per side |
TotalFX offers maximum leverage at 1:1000 for both account types. It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.
| Trading Platform | Supported | Available Devices | Suitable for |
| cTrader | ✔ | Desktop, Web, Mobile, Tablet | Experienced traders |
| MT5 | ✔ | Desktop, Web, Mobile, Tablet | Experienced traders |
| MT4 | ❌ | / | Beginners |
TotalFX review reveals FSCA oversight with license No. 51105, proving compliance and secure trading safety across forex, crypto, and CFDs.
WikiFX
Reviews help you determine whether a broker is safe or a scam. However, reading reviews from many different websites can be a tedious task. This article makes it easier by compiling multiple user experiences with the TotalFX broker in one place, helping you understand whether the broker is safe to invest in and identify any potential scams to watch out for.
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