Forex Limited
Basic Information
Pros and Cons
Pros
- Established for 10-15 years
- Offers leverage up to 200:1
- Spreads starting from 0.17 pips
- Utilizes MT4/5 trading platforms
Cons
- Lacks valid forex regulation
- Poor reputation and user complaints
- Withdrawal issues reported frequently
- No fund protection measures
Is Forex Limited Safe and Legit?
Forex Limited is registered in New Zealand and has been operational for approximately 10-15 years. The broker offers trading in various instruments with leverage of up to 200:1, spreads starting from 0.17 pips, and utilizes the MT4/5 platforms for trading activities.
Despite being registered, Forex Limited lacks valid forex regulation from recognized authorities, which raises significant concerns about its safety and legality in various jurisdictions. Overall, the broker may not be considered safe for trading activities.
In the market, Forex Limited has garnered a poor reputation, with numerous user complaints regarding withdrawal issues, lack of transparency, and inadequate customer service. Community feedback frequently highlights challenges in accessing funds, with many users reporting prolonged withdrawal processes and demands for additional payments before withdrawals can be completed, suggesting a trend of dissatisfaction among clients.
Is Forex Limited a Regulated Broker?
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
Forex Limited does not hold client funds in independently regulated bank accounts, nor does it separate them from the broker’s own assets. Consequently, there are no specific regulator rules regarding fund segregation, raising concerns about the safety of client deposits. Furthermore, Forex Limited does not participate in any investor compensation funds or insurance schemes, leaving client funds unprotected in the event of insolvency or operational issues.
Forex Limited Leverage
The maximum leverage offered by Forex Limited is up to 200:1 across all account types. This leverage is consistent with the broker’s operational framework; however, it does not align with the regulatory requirements typically found in jurisdictions where licensed brokers operate. As Forex Limited lacks valid forex regulation, the client classification as retail or professional remains ambiguous with potential implications for leverage usage.
Forex Limited Withdrawal Review
How to Contact Forex Limited?
Forex Limited has received numerous complaints primarily focused on withdrawal issues, with users reporting prolonged delays and demands for additional payments before funds can be accessed. Credible sources of these complaints include user reviews on forums and comparison websites, where many express dissatisfaction over the broker’s handling of withdrawal requests. It appears that there are repetitive complaints about the same issues, indicating a pattern of user frustration. The broker has not received any regulatory penalties or warnings, but the lack of regulation raises concerns about its legitimacy and safety for trading activities.
Frequently Asked Questions
A1: Forex Limited lacks valid forex regulation from recognized authorities, which raises significant concerns about its safety and legality in various jurisdictions. This lack of oversight indicates that the broker does not hold any regulated licenses, making it potentially unsafe for trading activities.
A2: Forex Limited does not hold client funds in independently regulated bank accounts nor does it separate them from its own assets, raising concerns about the safety of client deposits. Additionally, the broker does not participate in any investor compensation funds or insurance schemes, leaving client funds unprotected in case of operational issues.
A3: Forex Limited has received numerous complaints regarding withdrawal issues, with users reporting prolonged delays and demands for additional payments before funds can be accessed. This trend has raised significant user frustration and dissatisfaction with the broker’s handling of withdrawal requests.
A4: If you face issues contacting Forex Limited, you can reach out via their customer service email at S.Denton@forexltd.co.nz or call them at +64 (4) 472 9236. However, user feedback indicates that customer service may be inadequate, which could complicate resolving issues.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.