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31FX -

Score

1.49 /10
Danger

31FX

United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://31fx.co

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Score

Regulatory Index0.00

Business Index6.81

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Broker Information

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Company Name

31FX

Company Abbreviation

31FX

Platform registered country and region

United Kingdom

Company website

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Company summary

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Warning: Low score, please stay away!
Previous Detection : 2024-11-17
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

31FX · Company summary
31FX Review Summary
Founded Year2019
Registered CountryUnited Kingdom
RegulationNo Regulation
Market InstrumentsForex and CFDs
Demo Account✔
LeverageRanges from 1:100 (Basic, Bronze) to 1:1000 (Diamond)
SpreadFrom 0.1 pips
Trading PlatformsWeb and Mobile Platform
Minimum Deposit€500
Customer SupportPhone: +442080898655
Email: support@31fx.co

31FX Information

31FX is an unregulated UK-based Forex and CFD broker. It offers all kinds of live accounts with flexible leverage ratios. The minimum deposit requires €500 and the spread is from 0.1 pips.

Pros & Cons

31FX offersover 100 countries. The broker offers a variety of account types, with spreads starting at 0.1 pip and high leverage up to 1:1000 in the Diamond account. Moreover, all accounts support Expert Advisors. However, the absence of regulation raises concerns about fund security and trading fairness and it is not regulated well.

ProsCons
Variety of Account TypesNo Regulation
Competitive Spreads Starting at 0.1 pipHigh Deposit for Certain Accounts
High Maximum Leverage up to 1:1000 on the Diamond AccountLack of Client Fund Protection
Support for Expert Advisors across All Account TypesLimited Transaction Methods
Youtube TutorialsLimited Customer Support Channels

Is 31FX Legit?

As it does not operate their business under regulatory frameworks, traders are more prone to be scammed.

What Can I Trade on 31FX?

31FX trades on major currency pairs, and minor and exotic pairs. For CFD trading, 31FX allows trading in the Dow Jones, NASDAQ, and FTSE 100. They also provides Commodity CFDs, including gold, silver, oil, and natural gas.

Account Type

This broker offers six distinctive trading accounts:

Account TypeMinimum Deposit
Basic€500
Bronze€5,000
Silver€25,000
Gold€50,000
Platinum€100,000
Diamond€150,000

Leverage

31FX provides a variety of leverage options across its account types:

Account TypeMaximum Leverage
Basic1:100
Bronze1:100
Silver1:200
Gold1:400
Platinum1:500
Diamond1:1000

Spreads & Commissions

31FX offers specific spreads and commissions for each accounts.

Account TypeMinimum SpreadCommissions
Basic0.1 pips$12 per lot
Bronze$10 per lot
Silver$6 per lot
Gold$2 per lot
PlatinumNone
DiamondNone

Trading Platform

31FX only offers a web-based trading platform. For novices, they should register demo accounts to get familiar with their trading platform.

Webtrader

Deposit & Withdrawal

For deposit and withdrawal methods, 31FX accepts bank transfers and credit/debit cards.

Customer Support

31FX provides customer support to its clients via a contact number and email. You can call the support team at +442080898655 send their queries to support@31fx.co for email support.

The Bottom Line

Overall, 31FX offers various tradable products with diverse account types, low spreads and high leverage. However, there are problems including its unregulated status and inaccessible website.

FAQs

Is 31FX regulated?

No.

Does 31FX offer demo accounts?

Yes.

Does 31FX require the minimum deposit.

Yes. It requires at least €500.

User Reviews

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User comment

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Comments

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FX1601076091
more than one year
I recently opened an account with 31FX broker, and I must say, their promptness in contacting me was impressive. Within just 10 minutes of opening the account, they reached out to me. The account verification process was also surprisingly quick, taking less than an hour. What stood out even more was that within 2 hours of opening the account, I was able to start trading on the live account.
I recently opened an account with 31FX broker, and I must say, their promptness in contacting me was impressive. Within just 10 minutes of opening the account, they reached out to me. The account verification process was also surprisingly quick, taking less than an hour. What stood out even more was that within 2 hours of opening the account, I was able to start trading on the live account.
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2024-01-12 19:21
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FX1342035324
more than one year
When I traded with 31fx, I was unable to contact my account manager and log into my trading account. Spreads on major pairs and major indices can be huge sometimes, which affected my trading confidence in a very negative way. I left this broker soon after I lost around $500. Won’t use this broker anymore.
When I traded with 31fx, I was unable to contact my account manager and log into my trading account. Spreads on major pairs and major indices can be huge sometimes, which affected my trading confidence in a very negative way. I left this broker soon after I lost around $500. Won’t use this broker anymore.
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2023-03-17 18:47
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