Is Ace Forex Scam or a Legit Broker?
Ace Forex 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, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.
- However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if no requirements for the company’s operation. That means, the broker is not regulated, not overseen, and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets, and more. Read more about St. Vincent and the Grenadines regulation by the link.
About Ace Forex
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Ace Forex safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | IC Markets – licensed by ASIC in Australia |
What is Ace Forex?
Ace Forex claims to be the global leader and an award-winning broker specializing in trading Forex, CFDs, Commodities, and Binary Option (Check out Best Regulated Binary Options Brokers).
- According to the website, Ace Forex’s headquarter is located in New Zealand and also located in St. Vincent & the Grenadines, the U.S., and Hong Kong. The trading services are provided by ACEFX LIMITED, a company registered in St Vincent and the Grenadines under Licence number 24338 IBC 2017. Even if the broker announces to have offices located in countries like New Zealand, the U.S., and Hong Kong, it does not hold any reliable licenses in the mentioned countries.
- We also keep reminding that FSA has announced that it does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies, which engage in such activities.
Ace Forex Review Conclusion
Trading with offshore brokers (See the list of scam forex brokers by link) is extremely risky. Many of these brokers are scam companies seeking to cut financial and regulatory corners. We advise all investors and traders to avoid Ace Forex and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.
Ace Forex Update
Recently Ace Forex website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case their receive trading proposals.