WikiFX

Reply

In evaluating Forex Limited as a trading option, I have to be especially careful, given both my experience and the range of red flags I noticed during my research. The broker claims to offer a selection of account types with varying minimum deposits, spreads, and leverage—minimum deposits range from $100 to $10,000, leverage goes up to 1:200, and spreads appear to start from as low as 0.17 pips. There is also mention of commissions on some account types, though this is not clearly detailed publicly. For me, the appeal of tighter spreads or a tiered fee system is often balanced against transparency and operational reliability. However, a significant issue for me as a cautious trader is the severe lack of detailed and accessible information about the range of available trading instruments—there is no clear listing of specific forex pairs, CFDs, or other products on offer. This makes it difficult to assess whether the broker’s market coverage aligns with my trading interests. Additionally, although the regulated status in New Zealand might seem like a benefit at first glance, I found that several users raised issues regarding withdrawal processes and the legitimacy of some activities. Reports of extra fees such as unexpected “taxes” or withdrawal delays are particularly troubling from a risk management perspective. Ultimately, while Forex Limited suggests some flexibility via different fee structures and leverage options, the absence of transparent instrument information and the prevalence of negative user experiences make it very difficult for me to recommend them as a competitive or secure choice. I would urge anyone—especially beginners—to approach with caution and ensure all costs and instrument details are clarified before considering opening an account.