Fair Forex is a new offshore Forex broker, that opened in November 2021. As of October 2023, their website is no longer working, so they are probably out of business.
They operate two websites, one for Americans and another one for international clients. You should take a minute and read the article: “The Difference Between Regulated & Offshore Brokers“.
For complaints and withdrawal problems, read this.
Fair Forex Reviews
New Investors at Fair Forex were given the Forex trading platform known as MT4 (MetaTrader4). Now the have made the switch to the cTrader trading platform. FairForex has available; the desktop trading app, a web-based trading app, and the standard mobile trading apps for Android & iOS. They offer you demo trading accounts to test out their platform and your trading strategies, however the web based app is only available after making a deposit.
They offer a wide variety of assets to trade including; Forex / Currency pairs, Commodities (Oil, Gold & Silver), Indices and CFD’s for shares trading. Standard leverage / margin rates available is as high as 1:500 on FX and Commodities. Crypto has margin rates of 1:15. Minimum deposit requirement for a new Standard or Raw Spread trading account starts at $50.
Funds can be deposited via: Credit Card, Zelle, vLoad, Bitcoin or Bank Wire to their Bank of America account.
According to their terms and conditions page;
The customer also hereby confirms that these funds are free of any liens or debts, are clean and non-criminal in origin and do not originate from the United States of America or any country on the Office of Foreign Assets Control (OFAC) List.
This means, that Americas should NOT deposit money at this broker. It is interesting that on the forums, we hear about Americans trading with this offshore brokerage firm.
Did you try a licensed broker? Look here!
Is Fair Forex a Regulated Broker?
No, Fair Forex is not licensed or regulated in the U.S.A. The only way to really know if your Forex broker is not a scam, is by checking their regulatory status.
When you see that they hold a valid license from your governments financial regulator, you can be sure that they are a legitimate broker. Forex brokers in the United States must be licensed and regulated by the CFTC, otherwise your cash is not protected.
Officially they are operated by Fair Forex Ltd, which is located at: Suite 305, Griffith Corporate Centre, Beachmont, Box 1510, Kingstown, St Vincent and the Grenadines.
They recently created a new website at: https://FairForexSentry.com/. Fair Forex Sentry is somehow registered as an “engaged tribal affiliate”, whatever that means. Basically, they are just trying to get around proper regulatory oversight in the United States.
Warning from the SVG Financial Services Authority; “Forex trading brokerage activities are not licensed in St. Vincent and the Grenadines.” read more.
They list three other entities that make up some sort of ownership of the broker.
- Fair Global Group Inc, a Delaware corporation.
- Fair Forex (V) Ltd, a company in Vanuatu, number 700478 that is regulated by VFSC.
- Fair Global UK Ltd, a company registered in the United Kingdom, number 13727281.
There is no listed phone number for them, however the customer support email is: [email protected]. Official website is: https://FairForex.com.
Compare Brokers to Fair Forex
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If you are currently investing at Fair Forex, please share your experience withdrawing your money, in the comments section.