Offshore FX broker HonorFX launches MT5 platform
The HonorFX group includes subsidiaries in Mauritius, Malaysia, and St. Vincent & The Grenadines. The company is managed from Dubai.
Offshore FX brokers are websites which offer retail clients trading in forex pairs, CFDs and often cryptocurrencies, while located in one of many “offshore” locations. These include brokers which are licensed by small island and nation-states with the more popular ones being Belize, Seychelles, Mauritius, Saint Vincent and the Grenadines, the British Virgin Islands (BVI), and the Bahamas. Other offshore FX brokers are fully unlicensed, and operate with no regulatory oversight of any kind.
Offshore brokers typically can offer more risky terms to clients than can properly licensed, onshore brokers (such as those located in Europe, Australia, or North America), such as high leverage and volume-related deposit bonuses. However when things go wrong, clients of these offshore brokers typically have no recourse, and no real regulator to turn to,
The HonorFX group includes subsidiaries in Mauritius, Malaysia, and St. Vincent & The Grenadines. The company is managed from Dubai.
Key features on Fullerton Markets MT5 platform include 21 timeframes (up from 9 on MT4), and six pending order types.
Cyprus financial regulator CySEC has issued its latest warning of unlicensed, offshore FX, CFD and crypto brokers.
Three months after the CFTC took PaxForex to court, the regulator has not had any contact with representatives of the broker.
TopFX is using its own technology for the site, including its TopFX Portal CRM and payments cashier TopFX Pay.
Laurent Chenot has invited retail traders to subscribe to paying training courses on his website before redirecting them to online brokers.
Uniglobe Markets is domiciled offshore in the Marshall Islands, although its employees are spread between India, the UAE and Cyprus.
The MFSA wishes to alert the public, in Malta and abroad, that Fxfinancepro is NOT a Maltese registered company NOR licensed by the MFSA.
The new license is an addition to the licenses that the entities within Equiti Group have in the UK, the UAE, Jordan, Kenya, and Armenia.
4xCube / 4XC was founded in 2018 by Portuguese entrepreneur Joao Monteiro, previosuly with FxPro, JFX.com, and Valutrades.