FX24
Forex & CFD broker · UAE-based · No valid regulation
TC RATING
Not Rated
We do not recommend this broker. FX24, operated by Big Ray Finance Group LLC, is UAE-based and holds no valid regulation from any Tier 1 authority such as the FCA, ASIC, or CySEC. It is low on transparency, makes misleading claims about oversight, and offers no investor protection. It does not qualify for a TC Rating.
FX24 is an offshore, UAE-registered trading platform that holds no valid regulation from any financial authority. It discloses little about itself, targets clients in the Gulf and beyond, and offers none of the protections a regulated broker must. We do not recommend it.
Is FX24 regulated?
No. FX24, operated by Big Ray Finance Group LLC, is not authorised by any top-tier regulator such as the FCA, SEC, ASIC, or CySEC. Independent broker-monitoring checks confirm that FX24 has no valid forex regulation and flag it as high risk.
The company is associated with the United Arab Emirates, but a registration or an address is not the same as a financial licence. To legally offer trading services, a broker needs authorisation from a recognised regulator that supervises how it operates and how it holds client money. FX24 has none, which means there is no oversight, no compensation scheme, and no ombudsman standing behind your funds.
- YOUR MONEY IS NOT PROTECTED
Trading with an unregulated broker carries real risks. You have no access to a financial ombudsman, no guaranteed segregation of your funds, and no compensation scheme if the broker fails or refuses a withdrawal.
The red flags
- No valid regulation, confirmed. Broker databases list FX24 as having no valid regulatory licence and advise caution.
- Little public information. There is scant verifiable detail about who runs FX24 or its track record. Legitimate brokers are transparent about their regulation, ownership, and history; FX24 is not.
- A very high-deposit account tier. Records show account structures ranging from a modest entry deposit up to a tier requiring around €25,000. Steep minimum deposits paired with account managers are a common feature of high-pressure, high-risk operations.
- Contradictory and template-style claims. The platform’s own material has claimed that trading with it “operates under regulatory oversight,” which is simply untrue for an unregulated broker. That kind of misleading reassurance is itself a warning sign.
What this means for your money
Because FX24 is unregulated, there is nothing protecting your deposit. If a withdrawal is delayed or refused, you have no regulator to escalate to and no compensation scheme to fall back on. Deposits routed through Tether and regional payment methods add further risk, since crypto transactions are effectively irreversible. With an unregulated broker, that combination leaves you badly exposed.
Conclusion
FX24 presents itself as a full-featured trading platform, but underneath the marketing it is an unregulated, low-transparency operation that broker-monitoring services confirm has no valid regulation. There is no oversight and no protection for your money. We do not recommend FX24. If you want to trade forex or CFDs, choose a broker regulated by a top-tier authority whose licence you can verify on the regulator’s own register.
- LOOKING FOR A REGULATED BROKER?
This review is published for information only. If you want a regulated broker for this type of trading, see our regulated CFD brokers instead, where every broker there is checked against our regulation-first standard.
Frequently asked questions
Is FX24 regulated?
No. FX24, run by Big Ray Finance Group LLC, holds no valid regulation from any top-tier authority such as the FCA, SEC, ASIC, or CySEC. Independent checks confirm it has no valid forex licence.
Is FX24 a scam?
We cannot state that conclusively, but it is unregulated, low on transparency, makes misleading claims about “regulatory oversight,” and uses high-deposit and crypto-funding patterns associated with high-risk brokers. We advise avoiding it.
Where is FX24 based?
It is associated with the United Arab Emirates and operated by Big Ray Finance Group LLC, but it is not authorised by any recognised financial regulator.
