RightFX

RightFX is an online forex and CFD broker registered in Mauritius, with a registered address at Level 6, Ken Lee Building, 20 Edith Cavell Street, Port Louis. The company was founded on March 10, 2021, and operates under the legal framework of Mauritius. It presents itself as a multi-asset brokerage, offering trading in currency pairs, indices, stocks, commodities, energies, and futures.

As a relatively new entrant in the forex brokerage space, RightFX has established a digital presence across several social media platforms including Facebook, Instagram, LinkedIn, Twitter/X, and YouTube. However, the broker does not hold any known regulatory licences from major financial authorities, which is a significant consideration for potential traders.

According to the records available to FXCanary, RightFX is not regulated by any financial regulatory body. While the company is registered in Mauritius, registration as a business entity does not equate to regulatory oversight by a financial services commission. The absence of a verifiable licence from a reputable regulator, such as the FCA, CySEC, or ASIC, means that traders do not have access to standard investor protection schemes, including compensation funds or dispute resolution services.

FXCanary's internal risk assessment assigns RightFX a Scam Risk Score of 75 out of 100, indicating a severe risk level. This score reflects the lack of regulation, limited independent information, and the opaque nature of the broker's operations. Traders should exercise extreme caution when considering any engagement with this broker.

RightFX offers three live account tiers designed to cater to different trader profiles. The STANDARD account requires a minimum deposit of $250 and offers leverage up to 1:500, targeting retail traders with smaller capital. The PRO account, with a $2,500 minimum deposit and leverage up to 1:400, is positioned for more experienced traders. The ECN account is the highest tier, demanding a $10,000 minimum deposit and providing leverage up to 1:300, likely intended for professional or high-volume traders.

All account types are claimed to provide access to the same range of instruments and platforms, with variable spreads. The broker also offers a demo account for practice. However, without independent verification, the actual trading conditions, including spreads, commissions, and execution quality, remain unclear.

RightFX states that it provides the MetaTrader 5 (MT5) platform, a widely used trading interface known for its advanced charting tools, multiple timeframes, and support for automated trading via Expert Advisors (EAs). Additionally, the broker offers its proprietary Right Trader app, which may be a mobile-friendly alternative. The availability of MT5 suggests a focus on forex and CFD trading.

The broker claims to offer over 200 tradable instruments, spanning major and minor currency pairs, indices, individual stocks, commodities (like gold and oil), energies, and futures. This variety aims to attract traders looking for diversification. However, the actual number and liquidity of instruments have not been independently confirmed.

Specific details on deposit and withdrawal methods are not publicly detailed in the known facts. As an unregulated broker, payment methods may be limited, and the safety of funds is a concern. Traders are advised to verify directly with the broker the accepted payment channels, processing times, and any fees associated with transactions.

Given the lack of regulatory oversight, there is no guarantee that client funds are held in segregated accounts. This increases the risk of misappropriation or loss in the event of the broker's insolvency.

RightFX presents itself as a multi-asset forex broker with a range of account types and platforms, but the absence of regulatory licences and the high risk score from FXCanary highlight significant red flags. Traders considering this broker should be fully aware of the risks, including the lack of investor protection and the potential for financial loss.

As with any unregulated entity, due diligence is essential. Potential clients should seek independent reviews, verify the broker's claims through direct contact, and consider alternative brokers with established regulatory credentials.