FOREX.com

FOREX.com, operating under the full legal name StoneX Financial Ltd., is registered in the United Kingdom and was founded on 3 March 2023. The official domain listed in our records is yesyes123.cn, which is unusual for a UK-registered financial firm and raises immediate questions about the entity's actual operations.

Our records indicate that the company holds two regulatory licences: one from the UK Financial Conduct Authority (FCA) under a Market Making (MM) licence, and one from the Cayman Islands Monetary Authority (CIMA) under a Derivatives Trading License (EP). However, the licence numbers are not published in our records, and the status of each licence is listed as '—', meaning we could not confirm their current validity. This lack of confirmation is a significant concern for any trader considering this broker.

The FCA is one of the most respected financial regulators globally, and a legitimate FCA licence would normally provide a strong layer of investor protection. However, our records show that FOREX.com is flagged as a 'Fake Broker' in industry watchdog records and has been identified as a clone or impersonator firm. This means that the entity operating under this name may not be the genuine StoneX Financial Ltd., or that it is misrepresenting its regulatory status.

The CIMA licence, while a legitimate offshore regulatory framework, offers significantly less investor protection than the FCA. In FXCanary's assessment, the combination of a UK registration, an unusual domain, and severe risk flags suggests that traders should exercise extreme caution. We were unable to verify the licences against the public registers, and the absence of any verifiable website or social-media presence further compounds the risk.

Due to the lack of a verifiable website and the low web confidence in our research, we cannot confirm what trading platforms, instruments, or account types FOREX.com offers. The broker's own claims are not available to us, and we have no independent information about spreads, commissions, or leverage. In such cases, the absence of information is itself a red flag.

Typically, a retail forex broker would offer a range of currency pairs, CFDs on indices, commodities, and possibly cryptocurrencies, along with popular platforms like MetaTrader 4 or 5. However, without official confirmation, we cannot state that FOREX.com provides any of these. Traders should be aware that a broker with no visible product offering is highly unusual and often indicates a fraudulent operation.

We have no information on the account types, minimum deposit requirements, or funding methods that FOREX.com might offer. In our experience, legitimate brokers provide clear details on these aspects to attract and inform potential clients. The complete lack of such information in our records suggests that either the broker is not operational in a meaningful sense, or it is deliberately obscuring its services.

For any trader considering this broker, the absence of transparent account information is a major concern. We recommend that traders only consider brokers that openly disclose their account tiers, minimum deposits, and supported payment methods. Without this, it is impossible to assess the suitability or safety of the broker.

Given the severe risk flags and the lack of verifiable information, we cannot identify a specific target audience for FOREX.com. Legitimate brokers typically aim their services at retail traders, institutional clients, or both, and they clearly communicate this. Here, the absence of any marketing or informational content makes it impossible to determine who the broker is trying to attract.

In FXCanary's view, this broker should not be considered by any trader, whether novice or experienced. The combination of an unverifiable domain, a UK registration that does not match the official domain, and the 'Fake Broker' flag from industry watchdog records points to a high probability of fraud. We strongly advise traders to avoid this entity and to seek regulated alternatives.

Our FXCanary Scam Risk Score for FOREX.com is 85 out of 100, which we classify as 'Severe'. This score is driven by three key risk flags: the broker is listed as a 'Fake Broker' in industry watchdog records, it has been identified as a clone or impersonator firm, and it has no verifiable website or social-media presence. These flags are among the most serious we assign.

The fact that the official domain is yesyes123.cn, rather than a domain that matches the StoneX Financial Ltd. brand, is a critical warning sign. Legitimate brokers use domains that reflect their corporate identity. The combination of these factors leads us to conclude that FOREX.com is highly likely to be a fraudulent operation, and we cannot recommend it under any circumstances.

In summary, FOREX.com presents a clear and present danger to any trader who might consider using its services. The severe risk flags, the unverifiable regulatory status, and the complete lack of public information all point to a broker that is not operating legitimately. We urge traders to avoid this entity entirely and to choose brokers that are properly regulated and transparent about their operations.

For those seeking a safe trading environment, we recommend looking for brokers with verifiable FCA or equivalent licences, a clear online presence, and a track record of regulatory compliance. The forex market is already risky; trading with a suspected clone or fake broker only amplifies that risk to an unacceptable level.