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• Our Review Method

• Is 365 FX Scam or Legit Broker?

• What is 365FX?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding 365 FX due to the issues we've identified.

Is 365 FX Scam or Legit Broker? ▲

It is crucial to emphasize the significant risk involved in dealing with 365 FX for your trading activities. Owned by Fintech Software Inc., this entity is incorporated within the Marshall Islands, a location notorious for its lack of strict regulatory oversight and minimal requirements for forex trading operations. The Marshall Islands have become a haven for numerous questionable forex brokers, including known entities like GoldmanCFD and Obsbit, due to its low setup costs and the absence of forex trading regulation.

• Registered in: Marshall Islands

• Type of License: Offshore License

• Is 365 FX safe to trade: No

• Recommended Licenses: FCA in UK & ASIC in Australia

This lack of proper licensing and regulatory oversight raises significant concerns about the safety and legitimacy of 365 FX. With a history of warnings issued by reputable regulatory bodies, it becomes clear that engaging with this broker poses a high risk to traders and investors alike.

What is 365FX? ▲

365 FX operates under the brand name of Fintech Software Inc., presenting itself as a forex trading, financial options, and online marketing specialist. Despite claiming an address in London, the company is not officially registered to provide financial services in this or any other reputable jurisdiction. The roots of the company trace back to the Marshall Islands, further emphasizing its offshore status. The operations of this brokerage lack proper licensing, leading to targeting clients from various regions without the necessary authorization.

• The broker's claim of a London address is misleading, as its actual entity is based in the offshore zone of the Marshall Islands.

• The absence of licensing has led to warnings from authorities, including a notable warning from the Central Bank of Ireland in October 2018, citing 365FX/365BinaryOption/Oproserv Limited/Fintech Software Inc. as an unauthorized firm offering financial services which is a criminal offense in Ireland.

Given these findings, it's evident that 365 FX operates in a manner that puts traders' investments at risk. The lack of regulatory oversight and the warnings issued by financial authorities underscore the importance of steering clear of this broker.

Conclusion ▲

After a thorough investigation, our recommendation is clear: traders and investors should avoid 365 FX and similar entities based in the Marshall Islands. The lack of regulatory oversight, combined with the warnings issued by reputable financial authorities, underscores the significant risk involved in dealing with this broker. For those looking to engage in forex trading, it is advisable to opt for brokers that are well-regulated by reputable bodies such as the FCA in the UK or ASIC in Australia. These regulatory environments offer a level of protection and oversight that is absent in offshore jurisdictions like the Marshall Islands.

In our review of over 1000 brokers, we've identified numerous red flags associated with 365 FX, leading to our strong recommendation to avoid this broker. The combination of an offshore registration, lack of proper licensing, and warnings from financial regulators paints a clear picture of the risks involved.

• Pros: None identified due to the significant risks and lack of regulatory oversight.

Cons:

• Registered in a known offshore zone with minimal financial regulation.

• Lacks proper licensing from reputable regulatory bodies.

• Has been the subject of warnings from financial authorities such as the Central Bank of Ireland.

• Misleading claims about its business location and registration.

Given these considerations, it is imperative for traders to conduct diligent research and choose brokers that offer a safe, transparent, and regulated trading environment. Engaging with brokers like 365 FX, which operates without the necessary regulatory approvals, can lead to significant financial losses and legal complications.