Texttforex is an official website domain name registered on July 19, 2023, for a forex broker that primarily provides investors with trading services in forex, stocks, futures, energy, precious metals, cryptocurrencies, and other financial derivatives. The address of its headquarters is unknown. This broker does not provide services to jurisdictions where it may violate local laws or regulations, such as North Korea, Israel, China, Vanuatu, and Cuba.
Corporate Registration Information and Regulatory Status:
Information publicly available on the Texttforex official website indicates that its headquarters are located in London. Its subsidiaries are regulated by the US Financial Crimes Enforcement Network (FinCEN) as Money Services Businesses (MSB), and it is also registered with the US National Futures Association (NFA), undergoing its audits and supervision, with an NFA ID of 146789.
Upon verification, neither the US National Futures Association (NFA) nor the Financial Crimes Enforcement Network (FinCEN) has found a registered entity named Texttforex. Additionally, the NFA assigns an ID number that is seven digits long, whereas 146789 is only six digits, thus not aligning with NFA's standards, and as such, this number was not found in NFA's records.
Moreover, the web design and content of this broker resemble those of brokers Unisnfx, XCY Global Ltd, BCC markets limited, CPT Limited, Maxtra Financial Limited, and GYG INVESTMENT LTD.
Opening an Account:
To open an account with Texttforex: Visit the broker's official website, click on "Register" either on the homepage or in the top right corner of the webpage, enter your email address, set your login password, and submit the form. Your account will be successfully registered upon submission.
Trading Account Information:
The Texttforex official website only reveals information about the spread, trading leverage, margin call/stop-out levels, and contract sizes, but details on account types, trading commissions, minimum/maximum trading volumes, maximum positions/orders, and minimum price accuracy are not disclosed.
Spread: Variable, starting from 1 pip
Trading Leverage: 1:100—1:500
Margin Call/Stop-Out Levels: 100%/50%
Contract Size: 1 lot = 100,000 units of currency
Trading Platform:
Texttforex provides users with the ST5 trading platform.
Deposits and Withdrawals:
Texttforex has not explicitly disclosed the supported deposit and withdrawal methods, fees, or minimum amounts on its official website.
Conclusion:
Traderknows reminds investors that Texttforex is a forex scam website with opaque registration and regulatory information, and suspected false advertising. The only means of contact is through email, and the contact method is extremely limited. The website design and content are using the same template as Unisnfx, XCY Global Ltd, BCC markets limited, CPT Limited, Maxtra Financial Limited, GYG INVESTMENT LTD, and other brokerage websites. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected of fraud" on Traderknows.
