101FX Review Is 101fx.com A Legit Forex Broker

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101FX Review – is it scam or safe?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Standard $10 1:999 1.1 pips

101FX seems to offer a single trading account, and the trading conditions actually appear good. However, this forex broker does not provide much corporate information, and obviously doesn’t hold a legit license, which is the main reason why we would not recommend it.

Here are our impressions of 101FX, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with the broker.

101FX Advantages

Seemingly attractive trading conditions

As advertised on 101FX’s website, the broker offers leverage up to 1:999 and spreads as low as 1 pips on EUR/USD. When we tested the broker’s demo MetaTrader4, the spread was even lower:

101FX’s demo MT4. Click on the image to view larger.

Such spread is really attractive and the leverage ratios provided are more than enough for any trading strategy. Besides, clients of this broker can start with an initial investment of just $10.

Speaking of leverage, we should note that margin trading is risky and most beginners tempted to use high ratios quickly lose their entire investments. So, we advise our readers to be cautious with it.

Trading on the MT4

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As it already became clear from the previous point, 101FX offers trading on a MetaTrader4 (MT4). The MT4 hardly needs and introduction, as most traders know it and praise it for its ease of use, reliability, and advanced functionality. It is very popular for its top-notch charting and automated trading bots, called Expert Advisors

101FX Disadvantages

Limited company info, no legit license

As we mentioned in the beginning, 101FX does not disclose much information about the company operating the brand. The broker says to be owned and operated by 101 Venture Capital Limited, however, it remains unclear where is the company based or registered – there is no address, nor contact or registration number.

The broker’s terms and conditions mention the laws of New York as governing. However, even if the company is registered in NY, it is certainly not regulated in the USA – due to the heavy regulations and the high capital requirement of $20 million, only a few forex brokers are licensed in the country .

With no regulatory oversight we can’t be certain about the company behind the operation and whether it will fulfill its obligation towards clients. Therefore, we advise our readers to avoid unregulated brokers as a general rule, and especially those who don’t disclose any contact information.

Not that many CFDs on demo

When we tested the MT4 offered by 101FX in demo mode, we noticed that its product portfolio is not very rich. It included less than 30 forex pairs, and CFDs on silver and gold. We suppose many traders will miss dealing in CFDs on indices, stocks or cryptocurrencies like Bitcoin, if the broker’s offering is that limited in real trading environment.

Due diligence always requires us to go through the lengthy terms and conditions of the brokerage in search of potential fees and charges that may be hidden there. We did not come across any withdrawal fees, however, the brokerage does offer attractive bonus promotions such as the 101% Deposit Bonus. Most brokers usually tie such bonuses with dire trading turnover requirements, but 101FX directly states that the bonus funds cannot be withdrawn. Also, we couldn’t find any bonus terms and conditions on the broker’s website


Although the trading conditions offered by 101FX seem attractive, we don’t recommend thos forex broker. Our main concern with it is the lack of legit forex broker license – this means that clients of 101FX have no assurance for the security of their funds, nor for the proper execution of trades in their accounts. Not to mention that most unregulated forex brokers are pure scams.

Considering all the risks involved in trading with unregulated companies offering financial services online, you’d better find yourself a reliable and licensed forex broker instead.

For example, exemplary agencies such as the UK’s Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC) oversee the activities of brokers under their supervision from head to toe with a severe case of diligence. Not to mention that brokers licensed by them are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

To sum up the above:

Pros Cons
Generous leverage, good spreads Limited company info, no financial regulation
MT4 available Bonus tricks
Not that many CFDs on demo
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

101FX Review: Is 101fx.com A Legit Forex Broker?

101fx.com Review: this is the name of a Forex broker that is located in Belize. Is 101FX a scam Forex broker or a legit one?

On the contact page, we found that the brokerage is located in Belize. The International Financial Services Commission regulates brokers in this region and when we checked the list, we didn’t find 101FX among the licensed Forex brokers.

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Another red flag we discovered on the page is the offer of a bonus discount. It offers 101% deposit bonus for all traders. This is a disadvantage as bonuses are used to tie traders’ funds down with unrealistic conditions. Rewards are also available for those who reach a certain amount of lots.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

101FX claims to be a top trusted broker with international client base. Their competency is also touted on the page as well as client focused services. They mention transparency, fairness and ease of use among benefits to be reaped by their clients.

101FX Trading Platform

101FX offers traders the MetaTrader 4 trading platform. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are: 50+ currency pairs, commodities trading (Gold, Brent, WTI and more), 15+ major indices, 50+ companies, and 50+ company stocks. We find that it does not offer crypto option to clients. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages offered is 1:999 and while this may seem generous but they could pose danger. High leverages can lead to huge loss of funds as well. Spreads are 0 pips on the EURUSD pairs.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on 101FX

The means of making payments and withdrawals are not stated but we only find that bitcoin is available. We find that of e-Wallets are likely to be missing, which is discouraging.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is $10 which is within the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Trading bonuses of 101% is offered on deposits. This is a disadvantage as bonuses are used to tie traders’ funds down with unrealistic conditions.

Is 101FX Licensed?

No. On the contact page, we found that the brokerage is located in Belize. The International Financial Services Commission regulates brokers in this region and when we checked the list, we didn’t find 101FX among the licensed Forex brokers.

Traders are warned to avoid trading with unlicensed brokers.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.


To get in touch with the customer care of the brokerage, interested clients are to send an email to [email protected]


The lack of license that we find during this review is a big disadvantage and makes the rating of 101FX lower than it should be. Many of the trading conditions are quite good and the minimum deposit is affordable and within the average. High leverage is a red flag and but the MetaTrader 4 trading platform is an encouraging offer.



Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

101FX Review – 5 things you should know 101fx.com

Beware! 101FX is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

101FX says to offer tight spreads and access to over 1000 trading instruments including forex pairs and CFDs on commodities, metals, energies, shares, and indices with leverage as high as 1:999 and the MetaTrader4 platform.

As tested with a demo account the platform offered us just 28 major forex pairs and two CFDs – on gold and silver. That however is not our main problem with 101FX, but the fact that their website is virtually anonymous, and that they are not regulated as required if they want to offer any kind of financial services on regulated markets like the U.S., the European Union, Canada, Australia or Japan.

101FX regulation & safety of funds

101FX is owned and operated by 101 Venture Capital Limited – a company about which we know virtually nothing. There is no contact information, no address, not even a phone number. And we are not told where the company is incorporated too.

So basically what we are dealing here is an anonymous, unregulated broker with very limited credibility.

We should note as well that in their Terms and Conditions 101FX quotes the laws of the state of New York as their jurisdiction. However, if they are really based in the U.S. they will have to be regulated by the U.S. Commodity Futures Trading Commission (CFTC) and to be a member of the National Futures Association (NFA) – a membership that comes with a rather steep requirement – a minimum operational capital of at least 20 000 000 USD. That is why only a few brokers have US licenses, while the majority prefer getting a license in Europe by the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC) . Another option is the Australian Securities and Investment Commission (ASIC).

Bear in mind that trading with unregulated brokers is extremely risky and we strongly advise you to stay away from anonymous websites like 101FX.

101FX deposit/withdrawal methods and fees

Except for bitcoins 101FX does not tell us what other payment methods do they accept. Bear in mind that most brokers accept payments with major credit and debit cards like VISA and MasterCard, bank wire and various e-wallets – most notably Neteller and Skrill .

And 101FX offers trading bonuses, but you should be especially wary if a broker offers you a trading bonus. This is a highly controversial practice, prohibited on virtually all major regulate markets including the EU. The general problem with all trading bonuses is that they are invariably linked to some special withdraw conditions as for example a minimum trade volume requirement, which quite too often is used by scammers as a pretext to cancel your withdraw requests. And here 101FX does not even disclose what their bonus conditions are.

As for the minimum deposit requirement it is set at 10 USD and that looks fine.

How does the scam work?

If you have ever wondered how so many people get scammed – currently investment scams reach 1 million pounds a day in the UK alone – you should bear in mind that scammers are highly organized and do not spare resources fore their clandestine operations. They employ call centers, known as boiler rooms in places like the Philippines and Eastern Europe, as well as robo scam websites like Bitcoin Profit and Brexit Trader, where you will be greeted by some unrealistic offer for fast and easy returns with a minimum investment, and no risk at all. And if you get hooked and leave them your e-mail and phone, instantly you will be transferred to the web page of a unregulated scam broker, where finally you will be asked for an initial deposit of about 250 USD.

Scammers however will aim to squeeze you out of as much cash as they can, so their first step will be to manipulate your trading account – it will seem like you are making a lot of money and pretty soon your initial 250 USD will grow well over 500 USD. And you will be getting lots of phone calls as well. It will be your “senior account manager”, who basically will be saying that if you really want to make some real cash, you will definitely have to invest more – like at least 10 000 USD or even more.

And chances are that at this point you will be willing to invest that kind of money without realizing you have been scammed until the very moment you decide to withdraw some of your funds. Than, all of a sudden it will turn out you are not allowed to withdraw, because of the trading bonus you have so carelessly accepted and the minimum trade volume requirement, it is linked to. But even if you reach that minimum trade volume requirement, you can be sure that scammers will find another pretext to refuse to pay you.

What to do if scammed?

Your only plausible chance to get your deposit back is to file for a charge back with your credit card company. Fortunately both VISA and MasterCard will allow you to do that within 540 days – that is according to their new anti scam policy.

And if somehow scammers have tricked you to install TeamViewer, or to tell them your credit card number and online banking password, immediately delete the program, change the password and block your credit card.

And one final note. If you are approached by the so called recovery agencies, do not trust them. They will not recover you a single penny, but simply will charge you with some payments in advance, basically scamming you a second time.

101FX Review: 101fx.com Culprit Forex Scam

101FX Review: 101fx.com Culprit Forex Scam


Last Updated: Oct 9, 2020 @ 10:24 am

101FX (101fx.com) is a brutal broker who is out to openly steal from anyone who signs up. 101 FX is claiming to offer 101% deposit bonuses to any investor who opens an account with them. Are these claims true? A further investigation has revealed this is another rotten online investment platform. Members are crying foul after being asked to pay back the bonus. Read more on this detailed 101FX Review.

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101FX Review

Antonio recently opened an account with this broker and deposited a sum of $10,000. Filled with excitement, he was sure he would make profits since he has an idea of trading. After taking a few hits, he decided to cut his losses and ask for the remaining balance. At the time, Antonio has lost $3,000 and was asking to withdraw $7,000. Time went by without getting the green light to withdraw funds. And this is where trouble started as his account has been closed and contact blocked.

101FX is openly refusing to allow members to withdraw funds among other troubling issues. After depositing $1,000 Jane was sure she would get the 101 deposit bonus as promised. After having her account open, she called and asked to see her deposit bonus reflect on the account. Up until now, her account has been closed indefinetly and her money not recovered. These are scam artists who are clearly stealing from unsuspecting investors. And this review is all about exposing their dirty tricks.

About 101FX

These scam artists have cloned a legit trading website and are conning people. Professional scam artists will create a visually compelling website to entice investors to sign up. Why do investors sign up with rogue platforms? In most cases, they are lured by the over the moon claims and promises. A welcome deposit bonus of 101% is clearly alluring to most investors. Is this even possible? It means they are matching your deposit and adding something extra. Who does this in business? Giving away free money?

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Most investors are opening accounts and funding them due to the deposit bonus. Thanks to our years of trading experience, we know how to spot scams from a mile away. A huge problem with 101FX is anonymity. Who are the people running this website? Why have they failed to give names of founding members? These are scam artists who will do or say anything to ensure investors deposit funds. Claiming to offer a huge deposit bonus is one of the many well laid traps.

Is 101FX licensed or registered?

Another red flag with 101FX is lack of proper information regarding license and registration. Due to their anonymous nature, we don’t know where their jurisdiction lies. To properly verify their licensing status, we contacted leading regulatory institutions. They included ASIC, COSNOB, CySEC, FCA, FSA, NFA, and SEC. These regulatory bodies have never licensed or ever heard of 101 FX. It seems we are dealing with an unauthorized entity with no clear legal status.

What about posting their license number if they have any? These scam artists know experts will try and verify their licensing number. And this is why they have failed to post any details regarding license details. Their whole website lacks any information regarding licensing or terms and conditions. These are scam artists who are targeting unsuspecting investors as well as newbies. Now you know signing up with 101FX is operating with an illicit online investment platform.

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Features of 101FX/ Advantages

Sadly, we could not find any advantage with dealing with a rogue platform. These scam artists have managed to create an impression they are a true brokerage firm. Most investors have signed up hoping to make some extra profit. Dealing with 101FX is a dangerous play as they will take your money and run away. A huge problem with anonymous platforms is you can’t recover these funds. Where can you start? Their address is a fake as they claim to have offices in Belize. Offshore brokers are not to be trusted.

Disadvantages of 101FX

Demo Account

These scam artists have ensured users don’t get a demo account. A demo account helps newbie traders to know what to expect with a platform. In fact, users are signing up blindly not knowing what to expect. These scam artists have taken advantage of this loophole by laughing all the way to the bank. A good platform will insure they offer a demo account for users. None of this makes any sense. They are simply profiting from unsuspecting investors.

Deposit and withdrawal

Another interesting issue with 101 FX is lack of proper information regarding depositing and withdrawals. How do members deposit funds? Does this mean they only accept bank transfers? Other members paid using PayPal and UnionPay. These scam artists will make sure they have your money as long as you are willing to deposit. Withdrawing these funds still remains a major issue with 101FX. Stay away from such platforms.

Trading Platform

101 FX claims to use MT4 trading platform and urges investors to download it on their website. A further investigation reveals we are dealing with an unstable platform. Did you know hackers can easily take over 101FX? Lack of proper security features is another problem with this broker. They fail to install even the most basic of security features on their website. SSL Encryption is vital in any online trading platform. These scam artists are not worth your money or time, stay away.

Types of Accounts

What account types do they offer? Can they tell users the features of trading with their accounts? What are the benefits of using each account? These are questions you should ask before signing up with a brokerage firm. Clearly, these scam artists have left out this vital information for a reason. They are targeting newbie investors who don’t have a clue in trading. And this is why we must expose them.

Are funds safe with 101FX?

Did you know investors are depositing funds straight to owner’s bank account? These scam artists are getting money without breaking a sweat. Ensure you stay away from scam artists who will put your funds at risk. Lack of DDoS encryption is also another problem we are facing with 101 FX. They clearly are not putting investors’ funds safe with lack of proper security protocol.

Is 101FX a Scam?

After checking all the details, we are sure 101FX is a scam. Mark all their emails as spam and resist from joining their affiliate programs. Warn your family and friends from joining this illicit brokerage firm.

Bottom line

Adding this broker to our scam blacklist will aid in protecting our readers. Authorities should investigate and shut down this website.

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101FX Review

In this review, we will describe why 101FX is a scam that you should avoid at all cost !

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Is 101FX Legit?

101FX is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.

To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why 101FX is a dangerous broker to deal with.

Are Funds Safe with 101FX ?

With such lack of information and 101FX being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is 101FX is withholding vital information to users.

101FX could go bankrupt from one day to another since there are no banking information about this broker.

High Success Rate – Transparency & Integrity –

Fill out the form below and get a FREE consultation today. (If you lost more than $5,000, please use the chat).

101FX Review: our Conclusion!

101FX is an unregulated broker to avoid at all cost. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.

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