Find Out More About This Broker In the ThorFX Review

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You’d be wise to get familiar with ThorFX and their background before deciding whether you should invest. Luckily, our ThorFX Review has all the info you need.

We’ve provided a concise analysis of what ThorFX offers in terms of regulation, practices, trading platform, instruments, leverage, spreads, and funding methods.

Is ThorFX a legit and reliable broker? After reading this review, you’ll get a much better picture of this company.

Let’s first analyze the status of ThorFX’s regulation. This brokerage is run by Thor Markets LLC, an offshore company based in Saint Vincent and the Grenadines (SVG). 

ThorFX is an offshore brokerage so it’s logical that clients are going to be onshore residents. We did some research to find out which domains is ThorFX mainly interested in:

Right off the bat, we’ll tell you that tightly regulated domains such as the UK and the US would not allow a broker to operate legally. 

Malta is ESMA’s territory and ThorFX is not compliant with the European trading regulations. As for India and Morocco, these domains are also off-limits to ThorFX. 

It seems that there aren’t many reviews of ThorFX. Even among the few we found, there are some complaints against the broker.

On Trustpilot, we read one lengthy review that goes into detail about ThorFX’s business. Here the trader outlines some fraudulent practices:

They sound legit and everything but here are some stuff that I’d personally recommend not to rely on it and just get it for a cheaper price or find a better firm… High commission rate… Higher spreads… Their customer service isn’t actually great, they tend to ignore you if your ticket has already been booked…

ThorFX offers two of the best trading platforms in the world of trading – MetaTrader 4 and MetaTrader 5. The software was designed by MetaQuotes. ThorFX allows traders to utilize these platforms on desktop and mobile (Android & iOS).

Both MT4 and MT5 offer an array of cutting-edge tools such as automated trading, live market reports, instant execution, a user-friendly interface, etc.

In addition to these platforms, ThorFX included a web-based trading terminal. While the selection of trading platforms is amazing, we must not forget that ThorFX is unregulated, which makes trading on these MT platforms risky.

At the bottom of ThorFX’s website, you’ll notice that the broker listed the social media platforms available – Facebook, Instagram, Twitter, Telegram, and Discord.

These are the mediums used for finding and communicating with clients. Aside from social media, ThroFX also uses phone calls and emails. We bet ThorFX also uses Google ads or online marking campaigns.

Here’s an overview of the trading instruments that ThorFX offers on the website:

From what we read on ThorFX’s website, the trading costs seem logical and decent. For instance, the Mini account’s spread starts from 1 pip and the broker charges 1 $ per lot.

The spreads for the Standard account start from 0.8 pipis and ThorFX charges 7 $ per lot. Everything tighter than 1.5 pips is competitive, keep that in mind.

Provided that ThorFX’s trading costs are legit, you can profit from trading with this broker. However, as the review we posted here indicates, the spreads and commissions are much higher than promised… 

ThorFX offers four different trading account types:

This offer is coherent and logical. However, the maximum leverage that ThorFX offers is 1:500, which is extremely high. Trading with such high leverage could be devastating, it’s not for beginners.

Unlike many other shady offshore brokers, ThorFX included a free demo account for practice. Traders can open a demo account on ThorFX’s website.

It’s imperative to always try out the demo account before opening a live account and investing real money. Just be careful should you decide to invest to trade with ThorFX given that there’s no regulation in force.

According to ThorFX’s withdrawal policy, traders can deposit funds via three different payment methods:

The minimum deposit is just 10 $. Allegedly, withdrawal request processing takes two to five business days. ThorFX puts special emphasis on depositing via crypto. 

We so far haven’t found complaints about withdrawal issues but that doesn’t mean you shouldn’t be careful. Crypto transactions are hard to trace.

To recap, ThorFX seems more decent than most offshore brokers from SVG. But this brokerage is unregulated, and that’s a huge problem. 

If ThorFX violated any terms and conditions, please notify our team about it. You can also write a complaint on the forums to warn fellow traders.

Global Fraud Protection can help you get your money back via the chargeback process. Our team is skilled at tracing crypto transactions using CipherTrace.

If this broker steals your money, contact us for help. The easiest and fastest way to book a free consultation with us is via Online Chat.

Not really. ThorFX is an unregulated offshore brokerage with no license. This broker is not required to segregate your funds.

ThorFX offers Forex currency pairs, CFDs on popular assets on indices, commodities, and shares, and crypto asset trading.

Yes. ThorFX included mobile versions of MT4 and MT5 for Android and iOS systems.

Not really. ThorFX is an unregulated offshore brokerage with no license. This broker is not required to segregate your funds.

ThorFX offers Forex currency pairs, CFDs on popular assets on indices, commodities, and shares, and crypto asset trading.

Yes. ThorFX included mobile versions of MT4 and MT5 for Android and iOS systems.

The post Find Out More About This Broker In the ThorFX Review appeared first on Global Fraud Protection.

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