Formax Prime

Formax Prime (also known as Formax Prime Capital Limited) was established in the United Kingdom in 2014. The broker has since ceased operations, with its official website formaxprime.co.uk no longer active.

According to public records, the firm was registered in England and Wales but currently holds no valid regulatory authorisation. Its registration with the Financial Conduct Authority (FCA) appears to have lapsed or been withdrawn, leaving it without oversight from any major financial regulator.

Formax Prime was originally listed as an FCA-regulated entity; however, its status is now marked as inactive or terminated. The FCA register shows no current permissions for the firm to conduct investment business.

This absence of regulation means that any remaining client funds or trading accounts are not covered by the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service. Traders should exercise extreme caution when dealing with unregulated brokers, as there is no recourse in case of disputes.

Given that the broker's website is defunct, no information is publicly available regarding trading platforms, account types, instruments, or funding methods offered by Formax Prime. Industry databases suggest the firm may have offered forex and CFD trading, but these details cannot be independently verified.

Without an active web presence or accessible client area, it is impossible to assess the quality of execution, spreads, or customer support.

Formax Prime carries a high scam risk score of 42/100 from FXCanary, reflecting the combination of its unregulated status and operational shutdown. Traders should be aware that engaging with such a broker exposes them to potential loss of funds without legal protection.

Any claims of continued operation or new regulatory status should be treated with skepticism, as the firm's official registration has lapsed. We strongly advise seeking alternative, fully regulated brokers for any trading activity.