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Foxi Markets

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Operating status: SCAM

Website: https://foximarkets.com/

Broker violations and abnormal records
  • 2024-05-23 BrokersView has reviewed that Foxi Markets is an unregulated broker

    Foxi Markets asserts that it is regulated by the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), providing alleged licensing information to support these claims. However, our verification with both regulators indicates that the licensees with identical names in the registers are no longer authorized and regulated. Furthermore, the records from these two watchdogs are insufficient to confirm that Foxi Markets is associated with these now-invalid licenses.

    Despite its claim of being registered in Thailand, Foxi Markets only provides a purported company registration number. As of the current date, there are no specific regulations for forex trading in the country, and no specific financial regulator responsible for licensing or regulating the forex market.

    In summary, Foxi Markets is not regulated by any governing body. Entrusting them with investors’ funds is highly risky, as there are no legal protections in place to safeguard these funds. We advise against investing with Foxi Markets.

    Foxi Markets asserts that it is regulated by the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), providing alleged licensing information to support these claims. However, our verification with both regulators indicates that the licensees with identical names in the registers are no longer authorized and regulated. Furthermore, the records from these two watchdogs are insufficient to confirm that Foxi Markets is associated with these now-invalid licenses.Despite its claim of being registered in Thailand, Foxi Markets only provides a purported company registration number. As of the current date, there are no specific regulations for forex trading in the country, and no specific financial regulator responsible for licensing or regulating the forex market.In summary, Foxi Markets is not regulated by any governing body. Entrusting them with investors’ funds is highly risky, as there are no legal protections in place to safeguard these funds. We advise against investing with Foxi Markets.

Related Complaints

Q&A Complaints

Is Foxi Markets still licensed?

Daniel Lacroix
Australia
2024-06-12
ANSWER No, Foxi Markets is currently not licensed.Foxi Markets claims to be regulated by the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), but our checks show that the licenses with the same names are no longer valid. There's also no proof that Foxi Markets is linked to these expired licenses.Although Foxi Markets says it's registered in Thailand, it only gives a supposed company registration number. Currently, there are no specific forex trading regulations or regulatory bodies in Thailand. As such, Foxi Markets appears to be operating in an unregulated environment.The absence of regulatory oversight could lead to the risk of fraud and identity theft. To have a safer trading environment, investors are highly recommended to choose fully regulated brokers over unregulated ones like Foxi Markets.
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Foxi Markets looks legitimate, please help me verify.

Afoxi
Canada
2024-05-27
ANSWER Foxi Markets appears to be an unlicensed broker. Although this broker provides licensing information to assert its legitimacy, this information is linked to invalid licenses from the relevant financial authorities. Furthermore, the records from these authorities are insufficient to confirm that Foxi Markets is the legitimate holder of these licenses. Even if it were associated, these licenses are currently cancelled, leaving Foxi Markets unlicensed.Therefore, we strongly advise against trading with Foxi Markets to protect oneself from potential fraud schemes. Prioritizing thorough research when selecting a broker is crucial. Considering fully regulated brokers is highly recommended.
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