We’ll look at the offer that this broker put together for its traders in our 31FX review. Since 2014, 31-FX has been active in the financial market. The broker offers MetaTrader 4 as one of its trading platforms. The minimum deposit for 31-FX is 500 USD.
When trading CFDs, 74–89% of retail investor accounts experience a loss. If you can afford to incur the significant risk of losing your money, you should.
Overview
31 FX is a forex and CFD broker that provides trading in a wide variety of assets including commodities, indices, equities, and currencies. They are owned and run by JRV Market Ltd., and have as their address The Leadenhall Building, 122 Leadenhall St, London, UK.
| Website address: | 31-fx.com |
| Operated by: | JRV Market Ltd and JRV Euro Market Ltd |
| Licensed and authorized by regulatory bodies: | N/A |
| Supported languages: | English |
| Customer support is available via: | E-mail, phone, live-chat |
| Contact details: | su*****@31***.com co*****@31***.com in**@31***.com +442038687844 +61290991647 +41435089266 |
| Available deposit methods: | Debit and Credit Cards, EPay, PayPal, bank wire, Bitcoin |
| Available withdrawal methods: | Debit and Credit Cards, EPay, PayPal, bank wire, Bitcoin |
| Minimum deposit: | 500 USD |
| Min. trade in lots: | 0.01 |
| Spreads: | Typical spread on the currency pair EUR/USD – 0,2 pips * on standard account type |
| Tradable assets: | Forex, stocks, commodities, indices, cryptocurrencies |
| Mobile app: | Yes |
| MetaTrader 4: | Yes |
| Other trading platforms: | N/A |
| Maximum leverage: | 1:1000 |
| Social trading: | No |
Is 31FX Regulated?
JRV Market Ltd., a company registered in the British Virgin Islands and using the trade name 31FX, lacks the necessary authorization to conduct business as a forex and CFD broker.
This is problematic since unregulated brokers are not required to abide by any standards and almost always take part in scams.
Contrarily, brokers that possess licenses from reputable financial organizations like the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA) in the UK, and the CySEC in Cyprus are required to abide by stringent moral and financial standards. For instance, brokers licensed by the FCA and CySEC must have operational capital of at least 730 000 EUR, while brokers licensed by the ASIC must maintain a minimum of 1000 000 AUD.
Warnings From Financial Regulators
Any trader should give up when regulators or authorities specifically mention certain brokers. We have been informed that regulators may have issued warnings against 31FX. There are thousands of cryptocurrency schemes, so the fact that 31FX has been singled out is unfavorable.
Is 31FX Can Be Trusted?
We already showed how this platform cannot be trusted. FCA warned against them, they have regulation issues, an unreal leverage policy, and no clear statement of the return policy. If you want to invest in them, do this at your own risk.
What kind of currency pair do 31FX offer?
On the cTrader platform, 31FX provides six different account types and a selection of cryptocurrency CFDs.
Customer Support
This broker gives help to its clients; you may get in touch with them via phone or email, as you want.
Trading Method (MT4 or MT5)
The well-designed trading platform cTrader is appropriate for both inexperienced and seasoned traders. It is compatible with automated trading and includes a number of market indicators.
However, some traders might like the more well-known MetaTrader4, which has dominated the market for the majority of the last ten years.
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What Do Traders Think Of 31FX?
Although the trading conditions are competitive and there is a decent selection of cryptocurrency CFDs, 31FX is still an unregulated offshore broker and provides minimal security for any possible investments. As we’ve already covered, only brokers who are governed by reputable financial institutions can make traders feel comfortable.
What To Do If You Get Scammed?
If you get scammed by 31FX, talk to us. We will analyze your case and will provide you with a free consultation. There we will guide you on how to get your money back. We will recommend some good services who are experienced in recovering scammed funds.
File A Complaint Against Scam Broker's
Final Thoughts
It is quite concerning that 31FX is an unlicensed broker. We always advise using a regulated broker who is authorized to trade financial instruments while trading forex, CFDs, and cryptocurrencies.
