In claiming to be a low-commission trading platform in Saint Lucia, Air FX attempts to mask its many alarming red flags behind a nice presentation. Promising account restrictions, unregulated, lack of a valid forex license, and all sorts of user complaints, bans of accounts, withdrawals freezing, and support not responding it seems pretty clear to us that Air FX is an unregulated and fraudulent broker. All traders seem to get locked out of their accounts, lose thousands of dollars, and get no help whatsoever.
Website: https://airfx.co/
Website Availability: Yes
Address: Top Floor, Compton Building, William Peter Boulevard, P.O. Box CP6462, Castries, St. Lucia
Regulation: Unregulated
Warning: Not Recommended By Lycan Retrieve
Domain Age:
Name-airfx.co
Registry Domain ID-D9081EA2112A0473A82E12E633896C8B3-GDREG
Registered On-2021-10-25T17:40:06Z
Expires On-2025-10-25T17:40:06Z
Updated On-2024-10-26T13:53:24Z
Unstable Platform and Access
Air FX’s web trader platform obviously has many technical problems. Users report common Issues, including being unable to sign on to the trading platform and receiving system messages such as “Account disabled by server administrator” or immediate messages like “This service is disabled now.” After login/authentication issues, the user can then experience technical disasters, which for some users, made trading almost impossible and negatively impacted their longer-term trading, producing both losses and lost trading opportunities.
Blocked Accounts and Arbitrary Banning
There are numerous reports from traders stating they received email notifications detailing that their accounts were disabled for “exploiting the system error.” There were no real facts to support the allegations made, but it appears to be a scapegoat for banning an account and withholding the funds. Users are now limited access to the site and their cash. Users would email support or open support tickets adding to their frustrations, with no responses from support.
Withdrawal and Money Problems
Withdrawal issues are a common theme in user complaints. Even getting a withdrawal verification email, their withdrawals were still rejected, canceled, or labeled “To Be Finished” indefinitely. The funds returned do not arrive in the users’ wallets and the users after a multitude of attempts to reach out to Air FX received no responses from support. One even concerning case stated a user lost a $25 fee for 50% of their withdrawal amount.
High Risk, Low Trust Broker
Air FX ticks all the boxes as a risky, unregulated broker with a questionable offshore setup, poor support, recurring platform errors, and withdrawal issues. There are few legitimate regulations, and we found way too many independent reports of mismanagement of users’ funds, so we recommend that you at least exercise caution, if not avoid this broker altogether.
Frequently Asked Questions (FAQs)
1. Is Air FX regulated?
No, it is not regulated by any major financial regulator (FCA, ASIC or CySEC). It does have an offshore registration in Saint Lucia which has no investor protection.
2. If my account is blocked, will I get my money back from Air FX?
If your account is blocked, it is unlikely you will recover your funds. The broker has shown a chronic disregard for users’ requests for support and has not shown any clear escalation process for an appeal or refund.
3. How much do I need to deposit to trade on Air FX?
The minimum deposit amount is $250. Clever users will consider their deposit carefully before making the deposit when there is a lack of regulation and open withdrawal requests.
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