FX Fair is a forex broker that was registered in Saint Vincent and the Grenadines on April 22, 2013. It primarily offers investors trading services in financial derivatives such as foreign exchange, precious metals, energy, cryptocurrencies, indices, stocks, Defi Tokens, NFTs, and more. This broker does not provide services to jurisdictions that may violate local laws or regulations.
Registration Information and Regulatory Status:
According to information publicly available on the FX Fair official website, its registered business entity in Saint Vincent and the Grenadines is FFair Ltd, with a specific registration address at Beachmont Business Centre, 358, Kingstown, St. Vincent and the Grenadines, and a registration number of 21238. Information obtained from Whois shows that the domain name of this broker's official website was registered on December 2, 2011.
Verification shows that the Financial Services Authority of Saint Vincent & the Grenadines (SVGFSA) lists a company named FFair Ltd, registration number 21238. However, the SVGFSA does not regulate, monitor, supervise, or license business companies (BCs) engaging in forex trading or brokerage activities. Its regulatory purview is solely to ensure that BCs comply with the obligations set forth in Chapter 149 of the Revised Laws of Saint Vincent and the Grenadines, the Business Companies (Revised and Consolidated) Act of 2009,
Therefore, the financial derivatives trading business operated by this broker is not under effective regulation.
Opening an Account:
FX Fair account opening: Open the official website of the broker, click "Open a real account" on the homepage or "Open a real account" on the top right corner of the web page to enter the account registration page, fill in your name, personal email address, phone number and other personal information as required, and set a login password and submit. After submission, the broker will send an activation link to the email address filled in by the user. After activating the account through the link, you can log in.
Account Types:
FX Fair offers users four different types of real trading accounts: Standard account, Standard cent account, Zero spread account, Professional account.
Standard account:
- Minimum deposit amount: 5,001 JPY
- Maximum trading leverage: 1:1111
- Contract size: 100,000
- Minimum transaction volume: 0.01 lots
- Maximum transaction volume: 100 lots
- Maximum position size: 50 lots
- Stop out level: 20%
Standard cent account:
- Minimum deposit amount: 5,001 JPY
- Maximum trading leverage: 1:1111
- Contract size: 1000
- Minimum transaction volume: 0.01 lots
- Maximum transaction volume: 100 lots
- Maximum position size: 50 lots
- Stop out level: 20%
Zero spread account:
- Minimum deposit amount: 5,001 JPY
- Maximum trading leverage: 1:500
- Contract size: 100,000
- Minimum transaction volume: 0.01 lots
- Maximum transaction volume: 100 lots
- Maximum position size: 50 lots
- Stop out level: 20%
Professional account:
- Minimum deposit amount: 5,001 JPY
- Maximum trading leverage: 1:100
- Contract size: 100,000
- Minimum transaction volume: 0.01 lots
- Maximum transaction volume: 100 lots
- Maximum position size: 50 lots
- Stop out level: 20%
Trading Platform:
The FX Fair official website does not provide detailed information about the trading platforms offered to users.
Deposits and Withdrawals:
FX Fair supports deposits and withdrawals via credit/debit cards, bank transfers, cryptocurrencies, Perfect Money, and other methods.
Conclusion:
Traderknows reminds investors that FX Fair is an unregulated forex broker. Traderknows advises investors to choose brokers that are transparent, well-regulated and reputable for their trading activities, in order to avoid unnecessary losses of their assets.
Currently, this broker is marked as "suspected of fraud" on Traderknows.
