FarallonFX is an online trading platform established on February 23, 2023. It claims its parent company is Machuk LLC, registered in the Marshall Islands (registration number: 965995). Although the platform claims its operational address is in London, UK, actual verification shows that this address is associated with QOPAY LTD, not FarallonFX. Moreover, even though Machuk LLC is indeed registered in the Marshall Islands, the jurisdiction does not regulate financial derivatives brokerage services, raising questions about the platform's legitimacy and transparency. FarallonFX's official website is https://www.farallonfx.com/
FarallonFX Company Background and Regulatory Information:
FarallonFX’s domain was established on April 19, 2023. The platform claims its parent company is Machuk LLC, registered in the Marshall Islands (registration number: 965995), and asserts its operational address is at Flat 7 Bloom House, 15 Alameda Place, E3-2ZN in London, UK. However, actual searches show this address is associated only with a company named QOPAY LTD. Furthermore, although Machuk LLC is indeed registered in the Marshall Islands (registration date: February 23, 2023), the Marshall Islands do not regulate financial derivatives brokerage services. The comprehensive search results are as follows:
FarallonFX Account Registration Process:
- Visit the FarallonFX website and click the "Register Now" button.
- Provide your full name, email address, and password, and confirm the password.
- Select your country of residence, phone number, and trading currency.
- Read and accept the terms and conditions, and submit the registration form.
- After receiving a confirmation email, use your login credentials to access the trading platform and start trading.
FarallonFX Account Types:
FarallonFX’s official website does not provide specific information about its account types. It is currently unknown whether FarallonFX offers different types of trading accounts to cater to the needs of various investors.
FarallonFX Trading Software:
As of now, FarallonFX has not disclosed detailed information about its trading software. This lack of transparency makes it difficult for potential users to fully understand the platform's specific features and technical advantages. Investors are unable to determine whether the trading software has advanced analytical tools, real-time market data, a user-friendly interface, or efficient order execution capabilities.
FarallonFX Trading Products:
FarallonFX offers over 950 diverse trading instruments to meet the needs of various investors.
- Stocks: FarallonFX provides a range of real stocks from major global markets, including stocks from indices like the S&P 500, Dow Jones Industrial Average, Nasdaq, and FTSE 100.
- Commodity CFDs (Contracts for Difference): FarallonFX offers commodity CFDs including gold, silver, crude oil, natural gas, copper, and agricultural products, all of which hold significant value in global markets.
- Forex: FarallonFX offers a wide range of forex trading options, covering major currency pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs. Forex trading allows investors to trade on the fluctuations between different currencies.
- ETF CFDs (Exchange-Traded Fund Contracts for Difference): FarallonFX offers ETF CFDs, enabling traders to speculate on the price fluctuations of exchange-traded funds. ETFs are investment funds that track the performance of a specific index, commodity, sector, or asset class. Through ETF CFDs, investors can gain exposure to a diversified portfolio of assets without directly holding the underlying securities.
FarallonFX Spreads, Leverage, and Commissions:
FarallonFX’s website does not disclose details about spreads, trading leverage, commissions, minimum/maximum trade volume, maximum open position/order size, margin call/stop-out levels, minimum price increment, or contract size for trading accounts.
FarallonFX Deposit and Withdrawal Methods:
FarallonFX offers multiple deposit and withdrawal methods, including credit cards, debit cards, and wire transfers. The minimum withdrawal amount is 50 units of the account’s base currency (USD, GBP, or EUR), while the minimum amount for wire transfers is 500 units. Processing times are approximately 3 to 5 business days. For bank transfer withdrawals, contact customer service for detailed instructions to ensure a smooth transaction.
FarallonFX Customer Support:
Email: info@farallonfx.com
Phone: +44 (20) 80890817
Summary:
FarallonFX has several notable drawbacks, including unclear operational location and lack of regulation. Additionally, the platform has not disclosed detailed information about its trading software, account types, or trading conditions, which further increases potential users' concerns. FarallonFX is listed as "Suspected Fraud" on TraderKnows.
