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31FX

United Kingdom|5-10 years|
Suspicious Scope of Business|High potential risk|

https://31-fx.com

Website

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Contact

support@31-fx.com
https://31-fx.com
https://www.facebook.com/31FXTradeWithAPro
https://twitter.com/_31FX_

Licenses

No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away! 2
Previous Detection : 2024-06-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

31FX · WikiFX Survey

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31FX · Company Summary

Registered in United Kingdom
Regulated by No effective regulation at this time
Year(s) of establishment 2-5 years
Trading instruments Forex, stocks, commodities, indices, cryptocurrencies
Minimum Initial Deposit $500
Maximum Leverage 1:1000
Minimum spread 0.2 pips for EURUSD
Trading platform MT4
Deposit and withdrawal method Debit and Credit Cards, EPay, PayPal, bank wire, Bitcoin
Customer Service Email, phone number, address, live chat
Fraud Complaints Exposure No for now

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of 31FX

Pros:

  • A wide range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies.

  • Tight spreads, with the EUR/USD spread as low as 0.2 pips.

  • High maximum leverage of up to 1:1000.

  • Multiple deposit and withdrawal options, including debit/credit cards, e-wallets, bank wire, and bitcoin.

  • Educational resources available on their official YouTube channel.

  • Multiple channels of customer support, including email and phone support, as well as social media.

  • Trading platform offered is the popular and reliable MT4.

Cons:

  • The company is not regulated by any financial regulator, which could pose a risk to traders' funds.

  • Only one type of trading account is mentioned, which could limit traders' options.

  • The commissions charged by the company are not revealed, making it difficult for traders to accurately assess their trading costs.

  • The website lacks transparency and detailed information about the company's history, ownership, and management.

  • Limited information about the company's trading conditions, including minimum deposit requirements and trading volumes.

  • The customer support channels do not include live chat, which is a popular option among traders for quick and efficient assistance.

  • The educational resources offered by the company are limited to their YouTube channel and may not be sufficient for beginner traders.

What type of broker is 31FX?

Advantages Disadvantages
31FX offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, 31FX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

31FX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, 31FX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that 31FX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with 31FX or any other MM broker.

General information and regulation of 31FX

31FX is a UK-based Forex broker that is not regulated by any regulatory authority. It offers trading on Forex, stocks, commodities, indices, and cryptocurrencies, and provides a maximum leverage of up to 1:1000. The company offers MT4 as its trading platform and supports various deposit and withdrawal methods, including debit/credit cards, e-wallets, bank wire, and Bitcoin. Educational resources are available on the company's official YouTube website, and customer support is accessible through email and phone, as well as social media channels. The company does not disclose information about its trading accounts or commissions, and its spreads start from 0.2 pips for EURUSD.

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

General information

Market instruments

Advantages Disadvantages
Diversification of investment options Lack of focus on a specific market or asset
Access to multiple financial markets and asset classes Risk of spreading oneself too thin
Opportunity for potential higher returns due to the volatility of the market Requires extensive knowledge of each market and asset class
Ability to hedge against risks Higher risk due to the volatility of some instruments

31FX offers a wide variety of instruments to trade, including forex, stocks, commodities, indices, and cryptocurrencies. This diverse selection of financial assets allows traders to diversify their investments and potentially increase their returns through exposure to different markets. Trading in multiple asset classes also provides the opportunity to hedge against risks and minimize potential losses. However, this also requires extensive knowledge of each market and asset class, as well as careful analysis and risk management. It is important for traders to be aware of the risks associated with trading in multiple markets and to avoid spreading themselves too thin.

market instruments

Spreads, commissions and other costs

Advantages Disadvantages
Low spreads Unknown commissions
Competitive pricing Lack of transparency

31FX offers a spread of 0.2 pips for the EUR/USD currency pair, which is considered low compared to other brokers in the industry. However, the broker does not reveal its commission structure, which may make it difficult for traders to understand the true cost of trading. The lack of transparency regarding commissions may lead to concerns over hidden costs and potential conflicts of interest. Traders should exercise caution when trading with a broker that does not provide clear and transparent information on its fees and commissions. Nevertheless, the low spreads offered by 31FX may be attractive to traders who prioritize tight pricing when choosing a broker.

Trading accounts available in 31FX

Advantages Disadvantages
Simplicity and ease of understanding Limited options and flexibility
No confusion regarding account types May not meet the needs of all traders
Straightforward decision-making process Lacks customization options for traders

Since there is no information available about the trading accounts offered by 31FX, it is likely that there is only one account type. This can be seen as both an advantage and a disadvantage for traders. On the one hand, having only one account type makes it simpler and easier for traders to understand the trading conditions and to make decisions about whether to open an account with the broker. On the other hand, it may limit the options available to traders who have specific needs or preferences when it comes to account types, such as those who prefer to trade with different leverage levels or who need different deposit or withdrawal options. Overall, while having only one account type may work for some traders, it may not be suitable for others who require more options and flexibility.

Trading platform(s) that 31FX offers

Advantages Disadvantages
User-friendly interface Outdated technology
Flexible customization options Limited order types
Wide range of technical analysis tools Limited integration with other platforms
Supports automated trading No two-factor authentication
Vast community of traders for sharing ideas and strategies Limited customer support

31FX offers its clients the widely popular and reliable MT4 platform for trading. The MT4 platform provides traders with a user-friendly interface, flexible customization options, and a wide range of technical analysis tools. This platform also supports automated trading, which is a popular choice for many traders who use algorithms to make trading decisions. The MT4 platform has a vast community of traders who share ideas and strategies, which can be helpful for beginners who are just starting in the trading world. However, the platform also has some disadvantages, such as its outdated technology, limited order types, limited integration with other platforms, and lack of two-factor authentication. Additionally, the customer support offered by 31FX is also limited, which could be a potential disadvantage for some traders.

Maximum leverage of 31FX

Advantages Disadvantages
Offers high leverage, allowing traders to increase profit potential with smaller investments High leverage can also increase risk and lead to significant losses
Provides more flexibility in trading strategies May attract novice traders who do not understand the risks involved
Enables traders to take advantage of small price movements Traders may be tempted to overleverage their accounts, which can lead to margin calls and liquidation
Can lead to higher returns for experienced traders High leverage is not suitable for all traders and can lead to substantial losses

The maximum leverage offered by 31FX is quite high, up to 1:1000, which provides traders with the ability to open large positions with a relatively small initial investment. With this level of leverage, traders can take advantage of small price movements and potentially earn significant profits. However, high leverage also increases the risk of significant losses, especially for inexperienced traders. Traders must ensure they have a solid understanding of the risks involved with high leverage and use proper risk management techniques to protect their trading capital. Additionally, overleveraging can lead to margin calls and liquidation, so traders must use caution when utilizing high leverage.

maximum leverage

Deposit and Withdrawal: methods and fees

Advantages Disadvantages
Multiple deposit options Limited withdrawal options
Fast deposit processing High withdrawal fees
Low minimum deposit Long processing times for some methods
No deposit fees Limited information on fees for some methods

31FX offers a variety of deposit and withdrawal methods to its clients, including debit and credit cards, EPay, PayPal, bank wire, and Bitcoin. This variety allows for flexibility in managing client accounts, with options for both traditional and modern payment methods. Deposits are processed quickly and without fees, while withdrawals may incur some fees depending on the chosen method. However, some withdrawal options are limited and may have high fees, and information on fees for some methods is limited. Additionally, processing times for withdrawals can be long for some methods.

deposit and withdrawal

Educational resources in 31FX

Advantages Disadvantages
Access to educational resources Limited educational materials available
Free resources Lack of structured educational programs
Available on official YouTube website No access to personal coaching or mentorship
Covers technical analysis, market news, etc. No customized educational content

31FX offers some educational resources on their official YouTube website, which covers topics such as technical analysis, market news, and other trading-related subjects. The resources are free to access and can be beneficial for traders who are looking to expand their knowledge base. However, the educational materials available on the website are limited, and there is a lack of structured educational programs, which can be a drawback for traders who are looking for more comprehensive educational content. Additionally, there is no access to personal coaching or mentorship, and the educational content is not customized to the specific needs and goals of individual traders.

educational resources

Customer service of 31FX

Advantages Disadvantages
Multiple contact methods available including email and phone No live chat option
Social media presence for easy accessibility No information provided about customer support hours
Professional email addresses No information about multilingual support

31FX offers several options for customers to get in touch with their support team, including three professional email addresses and three phone numbers. They also have a presence on several social media platforms such as YouTube, Twitter, and Facebook, which makes it easy for customers to reach out and get assistance. However, there is no live chat option available, which may be a disadvantage for customers who prefer instant messaging. The company also does not provide any information about their customer support hours or multilingual support, which may be a drawback for non-English speaking customers. Overall, 31FX's customer care dimension has some advantages such as various contact options and social media presence, but there are some areas that need improvement such as the lack of a live chat option and multilingual support.

customer support

Conclusion

In conclusion, 31FX is a UK-based forex broker that offers trading in various financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies. The company has low spreads, with EURUSD starting from 0.2 pips, and high maximum leverage of up to 1:1000. However, there is little information available on account types and commissions, and the company is not regulated by any financial authority. Additionally, while the company offers several deposit and withdrawal options, there is a lack of transparency on fees and processing times. The company provides some educational resources on their official YouTube channel, but there is no information on any other forms of education or support. Customer support is available through several channels, including email and phone, and the company has a presence on social media platforms. While 31FX may be a suitable option for experienced traders who are comfortable with the lack of regulation, the company's lack of transparency and limited information may not appeal to all traders.

Frequently asked questions about 31FX

  • Question: Is 31FX regulated by any financial authority?

  • Answer: No, 31FX is not regulated by any financial authority.

  • Question: What financial instruments can I trade with 31FX?

  • Answer: You can trade forex, stocks, commodities, indices, and cryptocurrencies with 31FX.

  • Question: What is the maximum leverage offered by 31FX?

  • Answer: The maximum leverage offered by 31FX is up to 1:1000.

  • Question: What trading platform does 31FX offer?

  • Answer: 31FX offers the popular MetaTrader 4 (MT4) trading platform.

  • Question: What deposit and withdrawal methods are available with 31FX?

  • Answer: 31FX offers a variety of deposit and withdrawal methods, including debit and credit cards, e-wallets like PayPal, bank wire transfer, and Bitcoin.

  • Question: Does 31FX offer any educational resources?

  • Answer: Yes, 31FX offers educational resources on their official YouTube website, such as technical analysis and market news.

  • Question: How can I contact 31FX customer support?

  • Answer: You can contact 31FX customer support through email, phone, or social media channels like YouTube, Twitter, and Facebook.

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Broker Information

Company Name

JRV Market Ltd

Company Abbreviation

31FX

Regulatory Status

No Regulation

Platform registered country and region

United Kingdom

Company website
Phone of the company

--

Twitter
Facebook
Instagram

--

YouTube

--

Company address

--

Linkedin

--

WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address
  • support@31-fx.com

  • contact@31-fx.com

Company Summary

User Reviews

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Comments

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Loutyab
more than one year
It's fast and simple to open/close operation and had important information and good bonus but it's tricky in some thing
2024-03-29 16:10
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0
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Z33840
more than one year
I really don't want to recall my tragic experience, but I hope that after sharing it, I can help more people. One of the easiest ways to identify foreign exchange scammers is the regulatory license. The company 31FX doesn't have any of them, so if you don't want to be scammed, you better not trade here.
2023-03-15 15:55
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0
0
rara682
more than one year
I also just got scammed at 3.1FX. The process was the same as everyone else, and I was flashy inviting investment in virtual currency with a picture of Mr. Son. The person who called me was a woman whose Japanese was a bit sloppy. She was half, her father was Japanese. I go to Japan from time to time. I found out later that when I received a phone call from another woman, I asked a lot of questions, and they talked in the same setting, so I felt something was wrong. I received a phone call almost every day and the market price is rising, so I have been persistently reinvesting to increase my funds. If you want to stop and liquidate, you will say something and stretch it out. Today, when they gave up and accepted the liquidation, they showed me the balance of 3.1FX saying, "Your bitcoin is so profitable." When I saw it yesterday, it didn't increase so much, but why? I wonder if I put a lot of leverage on it? I thought. Finally, as promised, when it came time to return all the funds to my bitflyer account from 3.1FX, I pretended to return it, but I couldn't contact you without putting money into my account, and I couldn't log in to 31FX.
2023-03-01 23:09
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