FXPace

FXPace is an Australian-registered broker operating under the domain fxpace.com.au. According to official records, the entity was founded on 4 April 2019, placing it among the more recently established brokers in the industry. However, publicly verifiable information about FXPace is extremely limited, and independent user reviews are entirely absent as of this assessment.

The broker presents itself as a provider of forex and CFD trading services, but its website is not publicly accessible or indexed in standard search results. This opacity makes it difficult for potential traders to evaluate the broker's offerings, execution quality, or customer support before committing funds.

FXPace claims to be regulated by the Australian Securities and Investments Commission (ASIC), which is a Tier-1 regulator. However, the known facts indicate that the licence status is marked as '—' (dash), meaning no active licence confirmation could be verified from our sources. This is a significant red flag, as a genuine ASIC-regulated broker would typically have an AFSL number and appear on the public register.

Without verifiable licence details, traders cannot rely on the protections offered by Australian regulation, such as client fund segregation and access to the Financial Ombudsman Service. The absence of regulatory transparency undermines the broker's credibility and increases the risk of potential misconduct.

FXPace offers two primary account types: a Standard Account and a Market/ECN Account. Both require a minimum deposit of $500, which is relatively high compared to industry norms where accounts often start at $100 or less. Standard Account leverage can reach up to 1:500, while the Market/ECN Account is capped at 1:200. These high leverage ratios, particularly 1:500, exceed the maximum allowed under ASIC's product intervention order (which limits retail leverage to 1:30 for forex trading), further casting doubt on the legitimacy of the ASIC claim.

No details on spreads, commissions, or trading platforms are available from known sources. The broker's product range and available instruments also remain unspecified. This lack of information makes it impossible for traders to assess the true cost of trading or the suitability of the broker's offerings for their strategies.

FXCanary's Scam Risk Score for FXPace stands at 85 out of 100, categorised as 'Severe'. This score reflects the critical absence of independent reviews, unverifiable regulation, and the broker's decision to operate without a public-facing website. The combination of high leverage, high minimum deposit, and regulatory opacity creates a high-risk environment for retail traders.

Given that FXPace does not appear in any major industry databases and has no user feedback, there is no basis to assess its operational reliability or dispute resolution record. Traders should treat this broker with extreme caution and consider only regulated alternatives that provide full transparency and client protections.