Bad Brokers

SoarFX Review

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SoarFX was an offshore Forex broker, that opened in May 2017. They are now closed!

SoarFX is owned by Bluestar International Acquiring Ltd, located in the Marshall Islands. Their contact phone number in United Kingdom is: +44 751 311 0195, and customer support email is: [email protected] Official website is:

Complaints and withdrawal issues with this broker, read this.

SoarFX Review

Crypto Currency and Forex investors at SoarFX have access to the classic MetaTrader4 trading platform. Their webtrader is made by PandaTS, as shown in the screenshot below. At this broker you will find over 100 underlying assets for CFD trading in categories of Crypto, Forex, Commodities and Stocks. When you look at the spreads on Euro USD, you will see that they are as wide as 3 pips with this broker.

Mobile trading apps are not available. Account types at SoarFX show that smallest account requires a minimum deposit of $250.

SoarFX Brokers Web Trader Software

SoarFX Regulation

When the Scam Broker Investigator reviews a Forex / Crypto Currency broker to see if they are a scam or a legitimate broker, we check for a valid European brokerage firm license. There are many licensed brokers who are regulated by FCA, CONSOB or CySEC.

SoarFX is not a licensed broker! Their payment processor is: Hermes Solution DOO, GOLUBOVCI BB, 81000, Podgorica, Montenegro.

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Smart investors compare three brokers before choosing one to use. You can see an up to date list of the best brokers listed here.

Warning from ASIC Australia – “ASIC urges all investors considering trading CFD’s, to check they are dealing with an entity that holds an Australian Financial Services Licence.”

ForTrade is the best broker for new investors to start with. They are a legitimate broker, that is regulated by the FCA & ASIC, look here.

Try a Free Demo Account, on their awesome trading platform, signup here.


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