SoarFX Review (2023)
- Company name:
Bluestar International Acquiring Ltd. SoarFX.
- Registration Address/ License:
Address is not clear. No License, No Regulation.
About SoarFX
| 🗺️ Registered in | No Registration |
| 🗺️ Type of License | No License |
| 🛡️ Is SoarFX safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
The potential client of SoarFX gets an opportunity to trade on the currency market (FOREX) and in CFDs, shares and indexes through an MT4 platform. The SoarFX is a trading name used by the Bluestar International Acquiring Ltd and that is all information available about the broker. There is no any mentioning on the official website about an address, registration or whatsoever, while the only address mentions a payment provider Hermes Solution DOO in Montenegro.
Therefore, the broker’s operation and provision of services is in question, and definitely, it means the broker is non-regulated while targeting client just by attractive proposals and conditions. And this is exactly the reason we always advise trading with a regulated broker only, as these firms are constantly overseen and reported.
As the industry grows, the market authorities issues regularly warnings against those companies that use targeting tactics without its legal permission to do so and seem to be scams. Moreover, non-regulated firm means that no one ever checks the company sustainability, ability to deliver financial service and what stands behind the firm.
In regards to SoarFX, of course, we recommend avoiding their proposals by any mean. Also, the European authority CONSOB, Italy issued an alert against SoarFX, while further EU regulators followed the issue.
“The soarfx.com website, registered in anonymous form by a user whose identity is not known. Considering that the SoarFX company, with alleged registered office in London, is not authorized to provide investment services to the Italian public, insofar as it is not registered on the register we recommend avoid trading with them”
CONSOB, Italy. April 2018.
Conclusion
We advise all investors and traders to avoid SoarFX and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets, BlackBull Markets and HYCM.