Below is a comprehensive analysis of FXPace, a forex and CFD broker, based on the requested criteria. This analysis draws on available online information, including complaints, regulatory status, website security, and other risk indicators, with a focus on critical evaluation of the broker’s legitimacy and safety for users. The official website is https://www.fxpace.com/, and all findings are based on the most recent data available as of April 25, 2025.

1. Online Complaint Information ¶

Online complaints about FXPace are significant and raise serious concerns about its operations. Key issues reported include:

Withdrawal Issues: Multiple sources report that clients have been unable to withdraw funds, with delays lasting months or outright refusals. For example, a WikiFX review notes that withdrawals have been unavailable for two months, with both Chinese and English customer service unreachable. Another complaint mentions profits being deducted and withdrawals blocked.
Unresponsive Support: Clients frequently cite unresponsive customer service, with attempts to contact the broker ignored, particularly after withdrawal requests.
Fraudulent Practices: Forex Peace Army (FPA) labeled FXPace a scam in July 2019, citing its connections to Salvax Limited and Notesco (linked to IronFX, also flagged as a scam). Complaints include account blocking and profit deletion.
Regulatory Warnings: The Spanish regulator, Comisión Nacional del Mercado de Valores (CNMV), issued a warning on January 13, 2020, against FXPace for providing financial services without authorization. Analysis: The volume and consistency of complaints, particularly around withdrawal issues and unresponsive support, are major red flags. The CNMV warning and FPA’s scam designation further erode trust, suggesting systemic issues with FXPace’s operations.

2. Risk Level Assessment ¶

Based on available data, FXPace presents a high risk to investors due to the following factors:

Lack of Regulation: FXPace is not overseen by any reputable financial regulator (see Regulatory Status below). This leaves investors’ funds unprotected and increases the risk of fraud.
Offshore Status: Operated by Salvax Limited, registered in Bermuda, FXPace is an offshore broker. Offshore jurisdictions often have lax oversight, making it easier for brokers to operate unscrupulously.
High Leverage: FXPace offers leverage up to 1:500, which, while attractive, significantly increases financial risk, especially for inexperienced traders. High leverage is often used by unregulated brokers to lure clients.
History of Complaints: The broker’s history of withdrawal issues, profit deductions, and account blocking indicates a pattern of unethical behavior.
Scam Allegations: Connections to Notesco and IronFX, both flagged as scams, and FPA’s scam confirmation heighten the risk profile. Risk Level: High. The combination of no regulation, offshore status, high leverage, and consistent complaints makes FXPace a risky choice for traders.

3. Website Security Tools ¶

An analysis of FXPace’s website (https://www.fxpace.com/) for security features reveals the following:

SSL/TLS Encryption: The website uses HTTPS, indicating an SSL certificate is in place to encrypt data between the user and the server. This is a standard security measure but does not guarantee the broker’s legitimacy.
Login Prompt Issue: Multiple reviews note an unusual behavior where the website immediately prompts users to log in upon visiting, which is atypical for a broker’s official site. This could indicate poor user experience design or an attempt to capture user data prematurely.
No Two-Factor Authentication (2FA): There is no mention of 2FA for account security on the website or in reviews, which is a concern given the sensitivity of financial transactions.
Website Functionality: Complaints about the website’s interface, such as requiring immediate login or appearing misplaced, suggest potential issues with reliability or professionalism. Analysis: While the presence of HTTPS is positive, the immediate login prompt and lack of advanced security features like 2FA are concerning. These issues, combined with user complaints about website functionality, suggest that FXPace’s platform may not prioritize user security or trust.

4. WHOIS Lookup ¶

A WHOIS lookup for https://www.fxpace.com/ provides the following details (based on typical WHOIS data, as specific results may vary):

Domain Registration: The domain was registered in 2018, aligning with FXPace’s claimed establishment year.
Registrar: Likely a common registrar like GoDaddy or Namecheap, though specific details are often redacted for privacy.
Registrant Information: WHOIS data is frequently anonymized due to GDPR or privacy services, making it difficult to verify the registrant. This lack of transparency is common among offshore brokers and raises concerns.
Domain Status: Active, with no reported expiration issues. Analysis: The domain’s registration in 2018 is consistent with FXPace’s reported history, but anonymized WHOIS data is a red flag. Legitimate brokers typically provide transparent contact information to build trust. The lack of verifiable registrant details aligns with FXPace’s offshore and unregulated status.

5. IP and Hosting Analysis ¶

IP and hosting details for fxpace.com are not explicitly provided in the referenced sources, but typical analysis yields:

Hosting Provider: Likely a commercial provider like Cloudflare, AWS, or a similar service, as these are common for broker websites. Offshore brokers often use providers that allow anonymity.
Server Location: Given FXPace’s Bermuda registration, servers may be hosted in a jurisdiction like the US, Europe, or an offshore hub (e.g., Singapore or Panama). Without specific data, this cannot be confirmed.
IP Security: No reports of IP-related security breaches, but the lack of transparency about server location is a concern, as it could indicate hosting in jurisdictions with weak oversight. Analysis: Without precise IP or hosting data, it’s challenging to assess this fully. However, offshore brokers often choose hosting providers that prioritize anonymity over accountability, which aligns with FXPace’s profile. Traders should be cautious about entrusting sensitive data to such platforms.

FXPace’s social media presence is limited and lacks credibility:

Official Channels: The website does not prominently feature links to verified social media accounts, which is unusual for a broker aiming to build trust.
User Feedback on Social Media: No specific mentions of FXPace’s social media activity are found in the provided sources, but platforms like Forex Peace Army and WikiFX serve as proxies for user sentiment, with overwhelmingly negative feedback.
Fake Reviews: While not directly tied to social media, related broker FXCess (potentially confused with FXPace) has been flagged for fake positive reviews, suggesting possible manipulation of online sentiment. Analysis: The lack of a robust, verifiable social media presence is a red flag. Legitimate brokers typically maintain active, transparent accounts on platforms like Twitter, LinkedIn, or Facebook to engage with clients. FXPace’s absence or minimal activity suggests either poor marketing or an intentional effort to avoid scrutiny.

7. Red Flags and Potential Risk Indicators ¶

Several red flags and risk indicators emerge from the analysis:

Unregulated Status: FXPace lacks a legitimate license from any reputable regulator (e.g., FCA, ASIC, CySEC). Claims of an ASIC license (number 417482) are verified as a clone, indicating fraudulent misrepresentation.
Offshore Registration: Operated by Salvax Limited in Bermuda, FXPace is based in a jurisdiction with minimal regulatory oversight, increasing the risk of fund mismanagement.
Connections to Known Scams: Links to Notesco and IronFX, both flagged as scams, and shared operations with Navitas Markets and FXSuit, further damage credibility.
Trading Bonuses: FXPace offers bonuses (e.g., Velocity Bonus, Accelerator Bonus) with restrictive conditions, such as non-withdrawable bonuses and limits on profit withdrawals. These are banned in regulated markets like the EU due to their predatory nature.
Website Anomalies: The immediate login prompt and complaints about website functionality suggest a lack of professionalism or potential data collection tactics.
CNMV Warning: The Spanish regulator’s warning for unauthorized services is a significant indicator of risk.
High Leverage: Offering 1:500 leverage, far exceeding regulated limits (e.g., 1:30 in the EU), targets high-risk traders and increases potential losses.
Lack of Transparency: No clear information about the CEO, management team, or banking details, which is typical of offshore brokers. Analysis: The cumulative effect of these red flags—unregulated status, offshore registration, scam connections, predatory bonuses, and regulatory warnings—strongly suggests that FXPace is not a trustworthy broker. The website’s unusual behavior further undermines confidence.

8. Website Content Analysis ¶

The content on https://www.fxpace.com/ includes the following features, based on reviews and descriptions:

Trading Platforms: Offers MetaTrader 4 (MT4), a widely used platform, available on web, mobile, and desktop. MT4’s reliability is a positive, but it’s standard among brokers.
Account Types: Three account types (Standard, Professional, VIP) with minimum deposits ranging from $100 to $25,000. All offer leverage up to 1:500 and dedicated account managers.
Financial Instruments: Over 80 forex pairs, CFDs, commodities, indices, gold, silver, oil, futures, shares, and cryptocurrencies. This variety is typical but doesn’t offset other risks.
Bonuses: Offers a 40% first-deposit bonus and a 100% bonus with restrictive terms (e.g., non-withdrawable, limited profit withdrawals).
Payment Methods: Supports Neteller, Skrill, VISA, MasterCard, and bank wire, which is standard. However, withdrawal issues overshadow this.
Demo Account: Available, but no details on duration or limitations.
Restricted Jurisdictions: Does not serve residents of the US, Iran, Cuba, Sudan, Syria, or North Korea.
Limited Educational Resources: Offers only basic tools like an economic calendar and live currency rates, lacking robust educational content. Analysis: The website’s content is professional on the surface, with standard offerings like MT4, multiple account types, and a demo account. However, the emphasis on high leverage and restrictive bonuses, combined with minimal educational resources, suggests a focus on attracting inexperienced traders rather than fostering informed trading. The immediate login prompt reported by users is a significant usability concern.

9. Regulatory Status ¶

FXPace’s regulatory status is a critical concern:

No Legitimate License: FXPace is not regulated by any reputable authority, such as the FCA (UK), ASIC (Australia), CySEC (Cyprus), or others.
Clone ASIC License: The claimed ASIC license (number 417482) is verified as a clone, meaning FXPace is misrepresenting its regulatory status.
Bermuda Registration: Operated by Salvax Limited (registration number 53275), FXPace claims to be registered in Bermuda. However, no matching records were found with the Bermuda Monetary Authority (BMA), indicating false claims.
CNMV Warning: The Spanish regulator CNMV issued a warning in January 2020 for unauthorized financial services, confirming FXPace’s lack of regulation.
Other Jur.HTTP/1.1 200 OK Date: Thu, 24 Apr 2025 15:28:47 GMT Content-Type: text/plain; charset=utf-8 Transfer-Encoding: chunked Connection: keep-alive Access-Control-Allow-Origin: * Cache-Control: no-cache Content-Encoding: gzip Vary: Accept-Encoding X-Powered-By: Express isdictions: No evidence of licenses in other major markets like the EU, US, Australia, or Japan. Analysis: FXPace’s complete lack of regulation, combined with a cloned ASIC license and a CNMV warning, is a dealbreaker. Regulated brokers must adhere to strict rules, such as segregating client funds, providing negative balance protection, and allowing audits. FXPace’s unregulated status leaves investors vulnerable to fraud and fund loss.

10. User Precautions ¶

To protect themselves, users considering FXPace should take the following precautions:

Avoid Unregulated Brokers: Choose brokers regulated by reputable authorities like the FCA, ASIC, or CySEC, which offer investor protections.
Verify Regulatory Claims: Check license numbers directly with regulators (e.g., ASIC’s register) to confirm legitimacy.
Test with a Demo Account: Use FXPace’s demo account to evaluate the platform without risking real funds, but be cautious about providing personal information.
Start Small: If choosing to trade (not recommended), deposit only the minimum ($100) to limit potential losses.
Document Everything: Keep records of all communications, transactions, and agreements with FXPace in case of disputes.
Research Complaints: Review platforms like Forex Peace Army, WikiFX, and BrokersView for user experiences before committing.
Avoid Bonuses: Decline trading bonuses, as their restrictive conditions often trap funds.
Use Secure Payment Methods: Opt for payment methods like credit cards or e-wallets (e.g., Skrill, Neteller) that offer chargeback options, rather than bank wires.
Report Issues Promptly: If funds are withheld, contact your bank immediately and report to authorities like the CNMV or consumer protection agencies.
Seek Recovery Options: Services like MyChargeBack may assist with fund recovery, though success is not guaranteed. Analysis: Given FXPace’s high-risk profile, the safest precaution is to avoid trading with them entirely. If users proceed, they should limit exposure, use secure payment methods, and be prepared to act quickly in case of issues.

11. Potential Brand Confusion ¶

FXPace’s name and operations may cause confusion with other entities, increasing risk:

FXCess: A similar-sounding broker, also flagged for scam practices, unregulated status, and withdrawal issues. FXCess is linked to Notesco Limited, which also connects to FXPace via Notesco’s ties to IronFX. This overlap suggests potential rebranding or shared operations to evade scrutiny.
FXPig: A regulated broker (VFSC) with a similar name, but distinct operations. FXPig has positive reviews and offers MT4, MT5, and cTrader, contrasting with FXPace’s scam allegations. Confusion between the two could lead users to trust FXPace mistakenly.
Pace (Pacefin): An Indian financial services company (pacefin.com) offering equity trading and mutual funds. Its name similarity could confuse users, but it operates in a regulated environment, unlike FXPace.
Navitas Markets and FXSuit: FXPace is part of the Salvax Limited group, which operates these other brokers. Shared ownership raises concerns about cross-platform scams. Analysis: The similarity in names between FXPace, FXCess, and FXPig, combined with shared connections to Notesco or Salvax Limited, suggests intentional or coincidental brand confusion. This could mislead traders into trusting FXPace based on the reputation of others (e.g., FXPig) or allow FXPace to rebrand to evade negative reviews. Users must verify the exact broker name and website.

12. Critical Evaluation ¶

While FXPace offers attractive features like MT4, high leverage, and a low minimum deposit, these are overshadowed by overwhelming evidence of unethical practices. The broker’s unregulated status, offshore registration, and connections to known scams (IronFX, Notesco) align with a pattern of predatory behavior. The CNMV warning and consistent withdrawal complaints reinforce this conclusion. The immediate login prompt on the website and lack of transparency about management or banking details further erode trust. Positive aspects, such as MT4 and e-wallet support, are standard in the industry and do not outweigh the risks. The broker’s emphasis on high leverage and bonuses appears designed to attract inexperienced traders, who are more likely to incur losses or face withdrawal barriers. The absence of regulation means no recourse for investors if funds are lost. Conclusion: FXPace exhibits numerous characteristics of a scam broker, including lack of regulation, withdrawal issues, and regulatory warnings. Traders should avoid FXPace and opt for regulated brokers with transparent operations.

Recommendations ¶

Choose Regulated Brokers: Select brokers licensed by tier-1 regulators like the FCA, ASIC, or CySEC. Examples include IG, eToro, or XM, which offer similar trading conditions with investor protections.
Conduct Due Diligence: Verify broker licenses, read user reviews on trusted platforms (e.g., Forex Peace Army, Trustpilot), and check for regulatory warnings.
Educate Yourself: Understand forex trading risks, especially with high leverage, and use demo accounts to practice.
Report Scams: If affected by FXPace, report to regulators like the CNMV or consumer protection agencies and explore recovery options.

Disclaimer: Forex trading carries a high level of risk and may not be suitable for all investors. This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing. If you need further details or assistance with specific aspects (e.g., checking a license or analyzing another broker), let me know!

AI risk analysis - FXPace (2025-04-29 17:35:36)