MOFX

MOFX is a retail forex and CFD broker registered in Belize, founded on 4 December 2023. The broker operates under the domain mofx.io and lists its registered address at 71-75 Shelton Street, London, United Kingdom, though this address is commonly used as a virtual office and does not imply UK regulation or presence.

According to aggregated industry data, MOFX has a limited track record, having been established only in late 2023. The broker maintains an Instagram presence but has no independent user reviews at the time of this profile, making it difficult to assess its operational history and client experience.

MOFX does not hold any financial regulatory licences from recognised authorities. The broker is registered in Belize, a jurisdiction known for light regulation of forex brokers, but registration alone does not constitute regulatory oversight or investor protection.

In FXCanary's assessment, the absence of regulation is a significant risk factor. Traders who choose to engage with unregulated brokers have no recourse to compensation schemes or independent dispute resolution in the event of a dispute or broker failure. The elevated scam risk score of 52/100 reflects this concern.

MOFX offers three account tiers: Standard, Pro, and ECN, each with a maximum leverage of 1:500. The Standard account requires a minimum deposit of $200, the Pro account $2,000, and the ECN account $5,000. All accounts provide the same maximum leverage, suggesting that the primary differentiators may be spreads, commissions, or additional features, though these are not detailed in available records.

The high leverage available across all accounts indicates that MOFX targets traders seeking to amplify their exposure, which carries substantial risk. The minimum deposits are in line with many retail brokers, with the ECN tier catering to more active or larger traders.

No trading platforms or instruments are specified in the known facts for MOFX. Without further information, it is unclear whether the broker offers MetaTrader 4/5, cTrader, or a proprietary platform, and which asset classes (forex pairs, CFDs on indices, commodities, cryptocurrencies, etc.) are available.

Prospective traders should verify platform availability and instrument selection directly with the broker, as the lack of transparency on these core features is a notable gap.

Details on deposit and withdrawal methods are not provided in the known facts. Typically, brokers in Belize may support bank wire, credit/debit cards, and e-wallets, but this has not been confirmed for MOFX.

Traders should exercise caution and request clear information on processing times, fees, and withdrawal policies before committing funds. The absence of such data in open sources further contributes to the elevated risk score.

MOFX is a newly established, unregulated broker with a limited public footprint. Its offering of high-leverage accounts and tiered minimum deposits suggests a focus on speculative retail traders. However, the lack of regulatory oversight, combined with the absence of independent reviews and verified operational history, makes it a high-risk choice.

FXCanary recommends that only traders with a high risk tolerance and thorough due diligence consider MOFX, and even then only with capital they can afford to lose. With no regulatory safety net, extreme caution is warranted.