FXON

FXON holds a Derivatives Trading License from the Seychelles Financial Services Authority (FSA), which is classified as offshore regulation. While the broker has a license, offshore oversight is generally less stringent than major regulatory bodies like the FCA or ASIC. According to WikiFX data, its overall score is 4.81 out of 10, reflecting a moderate risk profile. The broker's risk control index is 8.9, but the low regulatory index (2.78) and license index (2.78) suggest limited investor protection. Traders should carefully evaluate the offshore regulatory environment before committing funds.

Yes, FXON is regulated by the Seychelles Financial Services Authority (FSA) under license number SD091. The license is a Derivatives Trading License (EP), categorized as offshore regulation. It does not hold any licenses from major financial regulators such as the FCA, ASIC, or CySEC. WikiFX assessment indicates that while the broker is registered, the lack of mainstream oversight is a factor to consider.

The minimum deposit for both the Elite and Standard account types at FXON is USD 100. This low entry barrier makes the broker accessible to retail traders with smaller capital.

Yes, FXON supports both MetaTrader 4 and MetaTrader 5, with full license versions. According to WikiFX data, the broker has 2 MT4 and 4 MT5 full license servers, and the average execution speed recorded is 148.83 ms, indicating stable platform performance.

Pros: (1) Low minimum deposit of USD 100, suitable for smaller accounts. (2) High maximum leverage of 1:1,000, offering flexibility for experienced traders. (3) Competitive spreads, with the Elite account offering floating spreads from 0.0 pips. Cons: (1) Offshore regulation by the Seychelles FSA provides limited investor protection compared to major regulators. (2) The broker has a short operating history of only 1–2 years. (3) A few user reviews mention occasional delays in withdrawal processing, though customer service is generally responsive.

WikiFX user reviews are generally positive, with many users praising the tight spreads and efficient customer support. A handful of reviews note minor issues, such as occasional withdrawal processing delays, but these appear to be resolved through communication with the support team. No significant negative exposure or major complaints about fund security have been reported.

FXON is registered in Seychelles and holds an offshore license from the FSA. It does not carry registration with U.S. regulators such as the SEC or CFTC. Therefore, it is highly unlikely that FXON offers services to residents of the United States. Traders should consult the broker's official terms of service or contact customer support to confirm regional availability.

FXON offers two account types: Elite and Standard. Both require a minimum deposit of USD 100 and support maximum leverage of 1:1,000. The Elite account features floating spreads from 0.0 to 0.8 pips, while the Standard account has floating spreads from 1.5 to 2.5 pips. Both accounts allow scalping, hedging, and the use of Expert Advisors (EAs). Islamic accounts are not available. The Elite account is designed for traders seeking tighter spreads, whereas the Standard account offers a more traditional cost structure.

FXON supports a variety of deposit and withdrawal methods, including Japan local bank wire transfers, STICPAY, BTC, USDT, International bank wire, and Peska. All transactions are free of charge. Deposits via e-wallets, cryptocurrencies, and local bank transfers are processed within 5–60 minutes. International bank wire deposits take 2–5 business days. Withdrawals are similarly free, with processing times of 10–60 minutes for e-wallets and crypto, and 1–2 business days for bank wires. Minimum deposit amounts vary by method (e.g., $100 USD, €100 EUR, ¥10,000 JPY), while minimum withdrawals start at $200 USD, €200 EUR, or ¥20,000 JPY. The range of options and speed make the process convenient for most traders.

FXON offers a maximum leverage of 1:1,000 for both Elite and Standard accounts. This is considered very high leverage, which can amplify both potential profits and losses. While high leverage provides flexibility for experienced traders, it significantly increases risk, especially for those without robust risk management strategies. The broker's offshore regulatory status means there are no leverage caps imposed by stricter regulators. Beginners are advised to use lower leverage and fully understand the risks involved before trading.

WikiFX is a third-party platform that provides forex broker information inquiry and risk alerts. This type of platform mainly integrates brokers' regulatory information, user feedback, and historical records, and conducts comprehensive evaluation through a multi-dimensional model to help investors quickly understand the broker's basic situation and potential risks. By using such tools, investors can conduct preliminary screening before choosing a broker, thereby reducing decision-making risks caused by information asymmetry.

When choosing a safe broker, investors should focus on key factors such as regulatory qualifications, fund security, and trading transparency. In general, priority should be given to platforms regulated by major regulatory authorities, such as the Financial Conduct Authority, the U.S. Securities and Exchange Commission, and the Australian Securities and Investments Commission. At the same time, attention should also be paid to: whether client funds are kept in segregated accounts, whether the fee structure is transparent, and whether there are many negative complaints or withdrawal problems. By combining WikiFX ratings and user feedback, investors can evaluate broker risks more comprehensively.

A broker can be evaluated as a potential scam platform by considering multiple factors such as regulatory qualifications, user complaints, fund security, and platform data. In general, brokers without valid regulation, those that frequently have withdrawal problems, those with a large number of user complaints, or those providing false information usually carry higher risks. You can check the broker's regulatory status, overall rating, exposure records, and user reviews on the WikiFX platform, and make judgments based on multi-dimensional data to effectively identify and avoid scam platform risks.

Recovering funds after investment fraud can be difficult, but taking timely action may still help recover part of the losses. It is recommended to take the following actions immediately: keep trading records, chat records, and other evidence; contact the bank to try to stop or freeze the payment; report the case to local law enforcement agencies. In addition, investors can also use WikiFX complaint and exposure channels to increase the visibility of problematic platforms and improve the efficiency of rights protection.

Common forex regulatory authorities include the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in the United States, the Cyprus Securities and Exchange Commission (CySEC), and the Monetary Authority of Singapore (MAS). These regulatory authorities usually maintain relatively high regulatory standards, and brokers regulated by them generally have higher compliance levels. You can check broker ranking lists under different regulators on the WikiFX platform, such as brokers regulated by FCA, ASIC, and CySEC, so as to compare brokers under different regulatory backgrounds more clearly and make safer choices.