AFMFX

AFMFX is an online trading platform registered in Australia, claiming to offer financial market trading services to retail traders. The company was founded on 27 August 2018 and lists its registered address as Suite 1 Level 11, 9-13 Castlereagh Street, Sydney NSW 2000. However, as of our review, the AFMFX website is inaccessible, making it impossible to verify the firm’s operational status, product offerings, or marketing claims.

Despite its Australian registration, the broker’s regulatory standing under the Australian Securities and Investments Commission (ASIC) is highly dubious. The ASIC licence number 225417 that AFMFX claims to hold is suspected to be a clone of an existing licence, raising serious concerns over the legitimacy of its authorisation. Without a functioning website or verifiable licence, traders have no reliable means to assess the broker’s credibility.

AFMFX claims to be regulated by ASIC under a Forex Execution License (STP), but this claim is unsubstantiated. Industry database checks indicate that the provided licence number 225417 is likely cloned from another entity. ASIC’s public register does not clearly link this number to AFMFX, and the firm’s inaccessible online presence prevents any cross-confirmation.

In Australia, all retail forex brokers must hold an Australian Financial Services Licence (AFSL) from ASIC and comply with strict client money and leverage rules. The inability to access the broker’s website or verify its licence independently places AFMFX in a precarious position. Traders should treat any unverifiable regulatory claim with extreme caution.

Given the severe lack of publicly available information and the high risk indicators (FXCanary Scam Risk Score: 85/100), AFMFX is not suitable for any category of trader. Even experienced retail traders require transparent, regulated brokers to ensure fund safety and fair trading conditions.

New traders, in particular, should avoid brokers with unsubstantiated claims and inaccessible platforms. AFMFX’s circumstances—an unverified licence, no working website, and a history of regulatory red flags—make it a high-risk proposition. Until the firm resolves these fundamental issues, it cannot be recommended.