FernFX Review (2023)

Is Fern a scam or legit broker?

Fern is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

No, it is not safe to trade with Fern. Fern is owned by FERN GROUP NZ LIMITED, and claims to be located in Auckland, New Zealand. 

According to the website, FERN GROUP NZ LIMITED is a global foreign exchange investment and industry solutions provider based in New Zealand and regulated by the New Zealand regulator FSP (FINANCIAL SERVICE PROVIDER). As a leading global investment service provider, they provide 24-hour continuous Forex and CFD products to global financial institutions, corporations, and individuals.

However, it turned out the broker has just been using the name of the New Zealand regulated entity without having the actual license to provide financial services. 

Moreover, the local Financial Markets Authority in New Zealand has issued a warning against Fern:

“We are concerned that www.fuerfx.com may be operating a scam. The website www.fuerfx.com is not associated with nor authorised by the New Zealand registered company Fern Group NZ Limited.”

Conclusion

We advise all investors and traders to avoid Fern and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as ForexTime (FXTM) and Alpari. Also read about InstaForex Bonuses.

Fern website is no longer active.