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Suspicious Clone
Score
1.23 /10
Danger
Fonex Trade
1-2 yearsSuspicious Regulatory License
Suspicious Overrun
High potential risk
Add brokers
Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index4.86
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
3
Previous Detection :
2024-09-30
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The United KingdomFCA regulation (license number: 941813) claimed by this broker is suspected to be clone. Please be aware of the risk!
WikiFX Verification
Note: Fonex Trade's official website: https://fonextrade.com/ is currently inaccessible normally.
Fonex Trade Information
Fonex Trade is a brokerage firm registered in the United Kingdom. The popular MT5 platform is available with this firm. Fonex Trade's regulatory status is suspicious clone because its aompany name does not match with the one on the regulatory certificate.
Is Fonex Trade Legit？
| Regulatory Status | Suspected Fake Clone |
| Regulated by | FCA |
| Licensed Institution | Fn Traders Limited |
| Licensed Type | Payment License |
| Licensed Number | 941813 |
Fonex Trade's regulatory status is suspicious clone.
Downsides of Fonex Trade
- Unavailable Website
Fonex Trade's official website is currently not working. This firm may be closed.
- Lack of Transparency
You can only find limited information about this brokerage online because it's website has been out of working for along time.
- Regulatory Barriers
MT5 could be an attraction for investors. However, Fonex Trade's regulatory status is suspicious fake clone. If you really consider opening accounts with an unregulated brokerage, you need to be on your toes and look carefully before you leap.
Trading Platform
MT5 (MetaTrader 5) is available with Fonex Trade. You can apply it on multiple devices, including Windows, MAC, Andorid and IOS. It is a diversified financial trading platform that allows trading foreign exchange, stocks, and futures. It provides automated trading systems and excellent tools for various price analysis, use of algorithmic trading applications and copy trading.
Conclusion
Opening an online brokerage account can be an easy way to start investing and there are always risks in investing. But every brokerage has its advangtages and disadvangtages. The regulatory hurdle usually is the biggest drawback. Fonex Trade's regularoty status is suspicious clone, which can be a huge barrier for investors.
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