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Fair Forex

Vanuatu|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://fairforex.com/

Website

Rating Index

Contact

support@fairforex.com
https://fairforex.com/
Govant Building, PO Box 1276, Port Vila, Vanuatu
https://www.facebook.com/fairforexfx/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Sanction

VU VFSC
2022-10-12

Broker Information

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Company Name

Fair Forex Ltd

Company Abbreviation

Fair Forex

Platform registered country and region

Vanuatu

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Warning: Low score, please stay away! 4
Previous Detection : 2024-03-02
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The VanuatuVFSC regulation (license number: 700478) claimed by this broker is suspected to be clone. Please be aware of the risk!

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Fair Forex · Company Summary

BASIC INFORMATION

As an ECN broker, FairForex provides services for trading currency pairs and CFDs across a range of asset classes. It has been in business since 2018, has three offices, and is subject to SVG FSA regulation (St Vincent & The Grenadines Financial Services Authority). The business closes transactions at the best price and assures there won't be any requotes by using the A Book execution approach. Customers of Fair Forex have the option of trading independently as well as earning passive money through the use of the MAM system, a trade copying service that also makes use of robot advisers.

FairForex Customer Reviews

Reviews by customers of FairForex

· Fair Forex didn't offer me anything exceptional or distinctive, thus I just used them for three months. Since many brokers provide $0 spreads and a $3 each-way commission fee per lot, Fair Forex was not exceptional in this sense. Additionally common services from forex brokers include demo accounts, MetaTrader 4, and leverage up to 1:500. But the absence of a license was what I found most objectionable. The registration number, which was received from an offshore authority, is insufficient to ensure the security of money. Furthermore, there is no safeguard against a negative balance. Commissions are not high here, but I cannot entrust Fair Forex with a large amount of funds, so I left and started working with a licensed broker.

· Fair Forex is a good product. At least they do their jobs honestly and keep their word. One drawback of the deposit financing process is its slowness. Only when using a card does money come instantaneously; when using an electronic wallet, it takes 3–4 hours. Everything is different when it comes to withdrawals: money is received on the EPS the same day the application is completed, but it takes 2–5 days for it to get on the card. I have no issues with how quickly everything were done. In most cases, the MT4 terminal doesn't freeze. There are 0.8 to 3 pips in the EUR/USD commission.

· I exclusively trade right now with Fair Forex. I initially tried imitating deals, but the profits were modest. Either the trader I selected experienced a downturn, or the broker generally stopped the related account for reasons I was not aware of. I came to the conclusion that I had to exchange myself. The Fair Forex website doesn't offer any training, seminars, webinars, or even a video on using the terminals. I had to go elsewhere for information, so I joined this broker's sample program.

Investment Programs, Available Markets and Products of the Broker

· The FairForex broker does not impose any restrictions on its clients when selecting a trading strategy since it aims to optimize their trading prospects. Here, passive investors have access to MAM accounts, professional advisors (bots), and the ability to mimic other clients of the company's trades. There is also a referral program that offers commissions for bringing in new users.

Trading Conditions for FairForex Users

Trades can be made in currency pairings, cryptocurrencies, CFDs on stocks, indices, and commodities by traders who have created an account with FairForex (including metals). The firm provides three different types of accounts for retail customers, along with swap-free versions of each. Professional traders have access to an Enterprise Account with the lowest fees per lot and the narrowest spreads. Leverage is determined by the type of asset and the client (retail or professional). The various ways for making deposits and withdrawals are determined by the trader's place of residency.

FairForex Commissions & Fees

Owners of ordinary accounts only pay a fee of 0.8 pips on main currency pairings in addition to the spread to FairForex. On other types of accounts, the broker additionally levies a fee per lot on top of the spread. Additionally, the commission per lot is reduced the bigger the deposit. As a result, the trader pays $6 on the Raw Spread account, $5 on the Pro account, and $4 on the Enterprise account. For all cryptocurrency accounts, the commission rate is 0.075 percent, or 0.00075. If a client chooses to withdraw money by bank transfer, Fair Forex will only charge a non-trading commission of $35 or $45 for doing so. In the absence of trade, the business additionally levies a 20 percent fee on deposits and withdrawals.

Contacts

Registration address Fair Forex Limited, Suite 305, Griffith Corporate Centre, Beachmont, Box 1510, Kingstown, St Vincent and the Grenadines
Regulation SVGFSA, VFSCLicence number: support@fairforexfx.com
Official site https://www.fairforexfx.com/

ACCOUNT TYPES

All their accounts use the ECN trading model guaranteeing confidential trading, lightning-fast executions under 50ms and access to a deep and diverse liquidity pool, including banking institutions as well as high frequency traders and hedge funds.

Raw Spread Standard Pro Enterprise
Min deposit $50 $50 $10,000 $250,000
Maximum leverage 1:500 1:500 1:500 1:100
Spread from 0.0 pips from 0.8 pips from 0.0 pips from 0.0 pips
Commission (round turn) PER 1.0 LOT $6 $0 $5 $4
Min lot size 0.01 0.01 0.1 1
Max lot size 500 500 1000 1000

RAW SPREAD ACCOUNT

Their raw pricing means there are zero markups and spreads start at 0.0 pips, making it ideal for Trade Day traders, scalpers, and expert advisers. With an average EUR/USD spread of only 0.2 pips and a charge of just $3 per lot per side, their Raw Spread Account offers some of the lowest spreads in the forex industry. Why wait when there is deep liquidity and lightning-fast execution under 50ms?

STANDARD ACCOUNT

The Fair Forex Standard Account offers ultra-fast trade execution, speeds of under 50ms and some of the lowest possible spreads available, starting from just 0.8 pips with NO commission. The average EUR/USD spread is just 0.8 pips which is one of the lowest in the world.

PRO ACCOUNT

The Pro Account offers some of the lowest spreads available in the forex market, with the average EUR/USD spread at just 0.2 pips and commission of just $2.50 per lot per side. With lightning-fast execution of under 50ms and deep liquidity this account is ideal for professional traders, money managers and experienced retail traders. Our raw pricing means there are absolutely no mark ups and spreads can be from 0.0 pips. MT4/5

ENTERPRISE ACCOUNT

The Fair Forex Enterprise Account is designed for professional traders, hedge funds, trading managers and commercial enterprises. It offers institutionally raw spreads and only $2 per lot per side commissions. Our UK FCA regulated liquidity provider is connected to all major banks, ensuring ultra-low spreads and deep dark liquidity with connection speeds of under 0.27ms. There are no maximum lot sizes and withdrawals are processed same day with no limits. This account is ideal for scalpers, EAs and swing traders. The leverage provided will depend on overall risk and exposure.

News

Caution: Clients Report Withdrawal Issues in Fair Forex

NewsCaution: Clients Report Withdrawal Issues in Fair Forex

2023-02-14 08:17

Forex remains a very popular form of investment, but it can be hard to spot the tricks online. Even legitimate forex trading platforms can be risky to traders.

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2023-02-14 08:17
News
Caution: Clients Report Withdrawal Issues in Fair Forex
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NewsWIKIFX REPORT: Which Currencies are Obsolete?

2022-08-30 13:54

Currencies come and go. According to Bloomberg, over $10 billion in unredeemed outdated currencies circled in the EU after the euro was introduced.

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WIKIFX REPORT: Which Currencies are Obsolete?
WIKIFX REPORT: Top Reasons Why Forex Traders Fail and Lose Money

NewsWIKIFX REPORT: Top Reasons Why Forex Traders Fail and Lose Money

2022-08-30 12:29

This article debates in favour of the notion that a trader is their own worst enemy, and that human error is at the root of most problems. In short, the main reason why Forex traders lose money is no rocket science. It's the traders themselves.

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2022-08-30 12:29
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WIKIFX REPORT: Top Reasons Why Forex Traders Fail and Lose Money
WIKIFX REPORT: The U.S. Dollar in the Market Today

NewsWIKIFX REPORT: The U.S. Dollar in the Market Today

2022-08-30 12:20

The term "U.S. dollar" refers to a specific denomination and the U.S. currency in general. It was initially traded as a coin worth its weight in silver or gold. Today, the dollar is one of the strongest currencies in the world. It’s officially in use in the United States and has been adopted by other countries. Somewhere between ½ and ⅔ of the circulated U.S. currency is outside the U.S.

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2022-08-30 12:20
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WIKIFX REPORT: The U.S. Dollar in the Market Today

User Reviews

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more than one year
To be honest, I am very grateful to WikiFX for helping me identify the real face of Fair Forex. Without WikiFX, it would have been very hard for me to discover that this company is actually a scam. At the same time, I feel lucky not to be trading here. I will continue to be vigilant against scammers.
2023-03-24 17:09
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more than one year
Impossible to get my money... Well, I'm trying to get a withdrawal from my account and it's just not happening! I've been sending emails, but my 'broker' doesn't react. I just want my money, not so difficult I think.
2023-02-22 13:50
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