About Noon FX
Company Overview
Noon FX is a forex broker that was founded on 2 June 2021. The company is registered in St. Vincent and the Grenadines, with its registered address at First Floor, First St.
Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines, and an additional office in Dubai, UAE. The official website is noonfx.com.
Despite being registered in the United Kingdom according to our records, the physical address points to offshore jurisdictions. The broker promotes itself through social media channels including Facebook, Instagram, LinkedIn, and Twitter/X, but detailed public information about its operations is scarce. Our review relies solely on the limited data available from regulatory records.
Regulation and Licensing
Noon FX operates without any known regulatory licences. Our records show no regulators on file for this broker, which means it is not overseen by any financial authority such as the FCA in the UK or the DFSA in Dubai. This lack of oversight is a significant factor for traders who prioritise regulatory protection.
In FXCanary's assessment, the absence of regulation places Noon FX in a high-risk category. Traders considering this broker should be aware that there is no external recourse in the event of disputes or financial loss. The broker's registration in St. Vincent and the Grenadines, a jurisdiction with minimal financial regulation, further underscores this concern.
Account Types and Trading Conditions
Noon FX offers three account tiers: Basic, VIP, and ECN. The Basic account requires a minimum deposit of $100 and offers a maximum leverage of 1:500. The VIP account has a $1,000 minimum deposit and also provides 1:500 leverage. The ECN account targets high-volume traders with a $10,000 minimum deposit and a lower maximum leverage of 1:200.
These account types suggest the broker caters to a range of traders, from retail clients with modest capital to professional traders seeking direct market access. However, the lack of information on spreads, commissions, and trading platforms makes it difficult to assess the true cost of trading. The minimum deposit for the ECN account is notably high, which may deter smaller traders.
Target Audience
Based on the account structures, Noon FX appears to target both retail and high-net-worth traders. The Basic account with low entry requirement is accessible to newcomers, while the VIP and ECN accounts are designed for more experienced traders willing to commit larger sums. The high leverage of 1:500 on the Basic and VIP accounts may appeal to those seeking aggressive trading strategies.
Nevertheless, without regulatory protection, the broker is likely unsuitable for risk-averse traders or those in jurisdictions that require licensed brokers. The absence of detailed terms and conditions on public registers adds to the uncertainty.
Risks and Considerations
The most prominent risk associated with Noon FX is its unregulated status. Traders have no guarantee of fund segregation or access to compensation schemes. The FXCanary Scam Risk Score of 42 out of 100 (Guarded) reflects these concerns, indicating a moderate level of risk.
Additionally, the broker's dual address in St. Vincent and the UAE, combined with a UK registration claim, creates ambiguity about its legal framework. Prospective clients should exercise due diligence and consider the lack of independent reviews or verified trading conditions. Without further evidence, caution is strongly advised.
Overview compiled by FXCanary from regulatory records and public data. full Noon FX review