FiFx has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Note: FiFx promotes its foreign exchange trading services via the website wwwfifx.com and falsely claim that their services are under the regulation of Australia (Regulation No. 290600). The business is not a registered Australian company and it does not hold a current Australian Financial Servic... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.fifx.com.
The spread at FiFx is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after doing extensive research and initially thought the platform was good - until I started trading seriously.
Pros: Low minimum deposit|API access|Multi-currency support
Cons: Limited social trading features
I closed a profitable position at FiFx and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Segregated accounts|Regular platform improvements
Cons: Charting tools need more indicators|Could offer more webinars
If you are reading this considering FiFx - run. I wish I had read more negative reviews through a forum discussion. I thought the positive ones were real. Maybe some are. My experience over for just over a year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: API access|Smooth onboarding|Market news feed
Cons: Minor UI glitches occasionally
I had a dispute with FiFx and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Clean UI|Full transparency|Dividend tracking|Easy to use platform
Cons: Wish they had more educational resources|Search feature is basic