FOREX

FOREX is a retail forex broker registered in the United States, founded on 27 April 2023. Its official domain is medun.cn, a Chinese top-level domain. Despite its US registration, the use of a .cn domain may indicate a focus on Asian markets or an offshore structure. The broker is not regulated by any known financial authority, which is a significant concern for traders.

The broker does not disclose its regulatory status on public records, and no information is available about its licensing from major regulators such as the FCA, CySEC, or ASIC. As a result, traders should exercise extreme caution when considering this broker, as the lack of oversight means there is no guarantee of client fund protection or recourse in case of disputes.

FOREX was established on 27 April 2023, making it a very new entity in the forex brokerage industry. Its registration in the United States suggests it is subject to US corporate law, but without a regulatory licence from the Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA), it cannot legally offer forex trading to US residents. This raises questions about its target clientele and operational legitimacy.

The broker's choice of domain, medun.cn, does not align with its claimed US registration, and no corporate address or contact details are publicly available. This lack of transparency is a red flag for potential investors.

According to FXCanary's records, FOREX holds no regulatory licences from any jurisdiction. The broker is not listed on any major financial regulator's register, and there is no evidence of compliance with anti-money laundering (AML) or know-your-customer (KYC) standards. This absence of oversight means traders have no protection, and the broker operates without the usual safeguards required of regulated entities.

Unregulated brokers pose inherent risks, including potential issues with fund security, unfair trading practices, and difficulty in resolving disputes. Traders are strongly advised to only work with fully regulated brokers to ensure safety.

While the broker's official website was not reviewed due to lack of data, the name 'FOREX' implies that the broker likely offers trading in forex currency pairs. However, without access to its platform, we cannot confirm the range of instruments, trading platforms, or account types available. Given its unregulated status, it is uncertain whether the broker provides typical services such as leverage, CFDs, or crypto trading.

Given its US registration but unregulated status, FOREX may target international traders, particularly those in regions where regulatory enforcement is less stringent. However, the lack of transparency and the high scam risk score (85/100) suggest that the broker may not be suitable for any trader seeking a reliable and secure trading environment.