Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighGenuine FSC Mauritius Investment Dealer licence since October 2024, but it is an offshore tier-3 licence, and the Bank of Russia lists the website for unlicensed securities activity in Russia.
Identity & transparency
4/10 · ModerateEntity, company number and address match the FSC register and LEI record, but the address is the management company's office and no client agreement is published.
Withdrawals & conduct
3/10 · LowNo complaints about blocked or delayed withdrawals on any platform checked, but almost no client reviews exist to show that withdrawals work.
Reputation
6/10 · HighOn the Bank of Russia warning list since February 2025, with no independent client reviews on Trustpilot, Reddit or trading forums.
Website claims
7/10 · HighToday's site is accurate, but in 2023 and 2024 it claimed nine international licences and ten years in business with no licence to show, and LinkedIn still claims a 2016 founding.
Operational history
7/10 · HighLicensed company incorporated February 2024 and licensed October 2024. The brand has been online since 2021, and the claimed 2016 founding is unsupported.
Who they are
A quick desk file on the company behind the brand.
- Brand: Arrow Trade, also styled Arrow Trade FX
- Legal entity: Arrow Trade, private company no. 214424, Mauritius (LEI 9845000C9E80ABFDA933), incorporated 16 February 2024
- Registered: 3 Emerald Park, Trianon, Quatre Bornes 72257, Mauritius. This is the office of its management company, AAcapital International Limited
- Website: arrowtradefx.com, with the client portal at my.arrowtradefx.com and an alternate domain, arrowtradefx.net
- Only licence: FSC Mauritius Investment Dealer (Full Service Dealer, excluding Underwriting), category SEC-2.1B, licence GB24202940, granted 25 October 2024
- Related company: Arrow Financials L.L.C in Dubai, licensed by the UAE Capital Market Authority only for introduction, promotion and financial consultations
- People: Ali El Khalil (founder and CEO), Mohamad Bahloul (Managing Director), Mohammad Tohmaz (Executive Director), Hafez Nassar (Strategic Partner)
- Offers: CFDs on forex, indices, commodities, shares and crypto on MetaTrader 5, with three account types and leverage up to 1:500
- Not accepted: no list of excluded countries is published. The site says eligibility depends on your residence
- Age claim: none on the website. Its LinkedIn page says founded 2016, but the domain dates from February 2021 and the licensed company from February 2024
- Earlier operators: in 2023 and 2024 the same website named Arrow Trade S.A.R.L (Lebanon, no. 1028098) and a Seychelles company (no. 237249)
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Services Commission, Mauritius
Found by our investigation (1) — the broker does not list these on its own site
Capital Market Authority, United Arab Emirates (formerly Securities and Commodities Authority)
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
We rate Arrow Trade high risk at 65%. The evidence alone puts it at about 60%. Because the licensed company is under three years old, we apply a minimum of 65%: too little can be established about so young an operation to treat it as safe. That adjustment reflects its age, not misconduct we found.
- The licence is real. The FSC Mauritius register lists Arrow Trade as an Investment Dealer (SEC-2.1B) from 25 October 2024 at the same Quatre Bornes address the website gives, so this is not a clone. Mauritius is an offshore, lower-tier jurisdiction, and we found no investor compensation scheme that would cover clients.
- A regulator warning names the website. On 10 February 2025 the Bank of Russia added arrowtradefx.com to its list of entities showing signs of illegal activity, as a possible illegal securities market participant. This means it appeared to offer services in Russia without a Russian licence. The listing says nothing about how client money is handled.
- The same website made false claims before it was licensed. In June 2023 it claimed 'nine international licenses', ten years in business and 'Trusted and Regulated' status. At the time it named a Seychelles company as operator and cited no licence. In 2024 it still advertised 'International regulations' under Lebanese and Seychelles companies. In January 2025 it told clients their funds were insured but named no insurer.
- The age claim does not hold up. Its LinkedIn page says founded 2016. The domain was registered in February 2021, when it hosted a Beirut signals and education service, and the licensed company was incorporated on 16 February 2024.
- Key terms are not public. The website publishes no client agreement, fee schedule, minimum deposit, payment methods or list of excluded countries. It tells clients to check which company their own agreement names.
- No complaints, but no reviews either. We found no reports of blocked withdrawals. We also found no independent client reviews, so there is no track record either way.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The FSC Mauritius public register lists Arrow Trade with an SEC-2.1B Investment Dealer licence (Full Service Dealer excluding Underwriting) dated 25/10/2024. The licensee status is 'company is incorporated', and the registered and business address is 3 Emerald Park, Trianon, Quatre Bornes, matching the website. The register names AAcapital International Limited as management company, leaves the website field blank and does not print licence numbers.
E2LEI 9845000C9E80ABFDA933 identifies Arrow Trade, registered as 214424 with the Mauritius Corporate and Business Registration Department. It was created on 16 February 2024 and is active, and its data is fully corroborated against that registry. This confirms the company exists; it is not a trading licence.
ModerateGLEIF LEI recordE3The Bank of Russia list of entities with detected signs of illegal activity in the financial market includes ARROWTRADEFX.COM. It was added on 10 February 2025 for signs of acting as an illegal professional securities market participant. The entry concerns offering services in Russia without a Russian licence and makes no finding about client money.
E4An archived copy of arrowtradefx.com from 9 June 2023 says 'Our nine international licenses demonstrate our commitment to your safety and compliance'. It claims ten years of award-winning success and lists a presence from the USA and UK to Qatar and Dubai. It also names the operator as Arrow Trade S.A.R.L LTD, a Seychelles company (no. 237249), and offers live accounts from $100 with leverage up to 1:500. It names no regulator or licence number, and Arrow Trade's Mauritius licence was not granted until 25 October 2024.
E5The archived company page from the same day calls the firm 'Trusted and Regulated'. It also offers managed accounts in which 'our team of expert traders will manage your account for you' to 'maximize your profits'.
E6The archived about page from 3 March 2024 still advertises 'International regulations', 'Safe & Secure' and 'Instant Payouts'. It names the operators as Arrow Trade S.A.R.L Ltd, Lebanon (company no. 1028098, Hazmieh, Beirut) and a Seychelles company (no. 237249). No licence is cited for either.
E7An archived funds security page from 19 January 2025 tells clients 'Your funds are insured and protected' and cites 'Top-Tier Banking Partnerships' without naming any insurer or bank. The current website makes no insurance claim and tells clients to check their own agreement.
E8Arrow Trade's LinkedIn company page cites company 214424 and licence GB24202940 and gives 2016 as the founding year. No record we found supports that date: the domain was registered in February 2021 and the licensed company was incorporated in February 2024.
E9Registry data shows arrowtradefx.com was registered on 14 February 2021 through GoDaddy and is renewed to February 2030. arrowtradefx.net was registered on 14 October 2026.
E10The earliest archived copy, from 26 November 2021, shows arrowtradefx.com as a Beirut signals, education and automated-trading service at Hteit Center, Tayouneh. It was managed by Mohamad Tohmaz, now Arrow Trade's Executive Director, and offered systems to 'trade on your behalf providing top performance and profitable investment plans'.
E11The UAE Capital Market Authority register lists ARROW FINANCIALS L.L.C, Iris Bay, Business Bay, Dubai, as active. It was established on 7 November 2024, uses an arrowtradefx.com email address and has Ali Imad Sayed Rachid El Khalil as director. Its licences cover financial consultations, introduction and promotion only, and the register states it is not licensed to deal in derivatives or spot FX.
E12The website publishes a risk disclosure, privacy policy and AML policy, but no client agreement, fee schedule, minimum deposit, payment methods or list of excluded countries. Its FAQ tells clients to ask the team for these and to check the legal entity named in their own account agreement.
E13Trustpilot's page for arrowtradefx.com is unclaimed and has no reviews. Searches of Reddit, Forex Peace Army and BrokersView found no client complaints and no client reviews. The only BrokersView item is a 2024 question asking whether the broker is safe.
WeakTrustpilotE14The IOSCO I-SCAN alert network returns no alert for arrowtradefx. Its only match for 'Arrow Trade' is a 2020 CONSOB notice about Arrow Capital Ltd, a different firm.
WeakIOSCO I-SCANE15AAcapital International Limited, an FSC-supervised Mauritius management company, gives its own office as 3 Emerald Park, Trianon, Quatre Bornes 72257. That is the same address Arrow Trade uses as its registered and business address.
E16Today's regulation page names Arrow Trade, company 214424, licence GB24202940 (SEC-2.1B) and the Quatre Bornes address, and links directly to the FSC register entry. It states that the Global Business Licence alone does not authorise investment dealing, and it makes no founding-year claim.
E17arrowtradefx.net, registered on 14 October 2026, shows a holding page directing visitors to www.arrowtradefx.com. Its inner pages repeat the main site's licence text, show a Beirut clock and link to the same client portal at my.arrowtradefx.com.
Weakarrowtradefx.net
The other side
The strongest case in this broker’s favour.
There is a fair case that Arrow Trade is a small broker that got licensed late, rather than a scam.
- Its Mauritius licence is genuine and current, and the register entry matches the company name and address on the website. A Mauritius investment dealer has to operate through a licensed management company and meet the regulator's capital and compliance rules.
- Its Dubai sister company holds a real UAE Capital Market Authority licence with an accredited head of compliance. Operations built only to take deposits rarely carry that cost.
- Today's website is careful. It links straight to its own register entry, describes the licence scope accurately, makes no founding-year claim and promises no profits.
- The false claims date from before the licence and have since been removed. Many small firms start as signal or introducing businesses and obtain a licence later.
- The Bank of Russia list includes many foreign brokers that accept Russian clients without a Russian licence. It is not a finding of fraud.
- No client has publicly reported losing money with the firm.
What would change this
What we would need to see to revise the verdict.
These developments would move the assessment.
- Lower risk: a published client agreement naming Arrow Trade, Mauritius company 214424, as the counterparty, with clear client-money and withdrawal terms.
- Lower risk: a record of verifiable client reviews over time reporting withdrawals paid on time.
- Lower risk: the 2016 founding claim corrected, and the licensed company passing three years of operation in February 2027.
- Lower risk: arrowtradefx.com removed from the Bank of Russia list, or clear evidence that the firm no longer serves Russian residents.
- Higher risk: credible, specific reports of refused or delayed withdrawals, or demands for extra payments before funds are released.
- Higher risk: any FSC Mauritius enforcement action, suspension or surrender of the licence, new regulator warnings, or new claims of licences the firm does not hold.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
FSC Mauritius register: Arrow Trade
The regulator's own entry for the SEC-2.1B Investment Dealer licence. Open the row's detail view for status and address.
Arrow Trade regulation page
The broker's own statement of its entity, company number and licence.
Bank of Russia warning list: arrowtradefx.com
Listing dated 10 February 2025 for signs of illegal securities market activity in Russia.
UAE Capital Market Authority register: Arrow Financials L.L.C
The Dubai sister company's entry: introduction, promotion and consultation licences only.
GLEIF LEI record: Arrow Trade
Confirms Mauritius company 214424 and its 16 February 2024 creation date.
IOSCO I-SCAN alert search
International regulator alert network. No alert for arrowtradefx at the time of writing.
Frequently asked questions
Quick answers about this broker’s safety.
Is Arrow Trade a scam?
We have not found proof that Arrow Trade is a scam, but we rate it high risk at 65%. Its Mauritius dealer licence is genuine. However, before 2024 the same website claimed licences it could not show, the Bank of Russia lists its domain, and the licensed company is under three years old.
Is Arrow Trade a fraud?
No, we found no evidence of fraud: no regulator enforcement action, no fraud-related court record and no client reports of deposits being withheld. That is not a clean bill of health. The firm has a record of false licensing claims and almost no independent client reviews, so we still treat it as high risk.
Is Arrow Trade regulated?
Yes, in Mauritius. The Financial Services Commission register lists Arrow Trade as an Investment Dealer (Full Service Dealer, excluding Underwriting), category SEC-2.1B, licensed on 25 October 2024. Mauritius is an offshore, lower-tier jurisdiction, so the protection is weaker than under a UK, EU or Australian licence.
What is licence GB24202940?
It is the number Arrow Trade gives for its Mauritius licences. The website says the same number covers its Global Business Licence and its SEC-2.1B Investment Dealer licence. The FSC register confirms the licensee, the SEC-2.1B category and the address, but it does not print licence numbers.
Is my money safe with Arrow Trade?
Your money would be held by an offshore-licensed company that does not publish its client agreement, segregation terms or fees. We found no investor compensation scheme that applies. Deposit only what you can afford to lose and test a withdrawal early.
Can I withdraw my money from Arrow Trade?
We found no client complaints about blocked withdrawals, but also no client reviews confirming that withdrawals work. The website gives no withdrawal times or fees and asks clients to contact the team. Get these terms in writing and test a small withdrawal first.
Who owns and runs Arrow Trade?
The licensed company is Arrow Trade, Mauritius company 214424, administered locally by AAcapital International Limited. The website names Ali El Khalil as founder and CEO, Mohamad Bahloul as Managing Director, Mohammad Tohmaz as Executive Director and Hafez Nassar as Strategic Partner. Its LEI record reports that it is owned by private individuals but does not name them.
How old is Arrow Trade?
The licensed Mauritius company was incorporated on 16 February 2024 and licensed on 25 October 2024. The brand has used arrowtradefx.com since 2021, first as a Beirut signals and education service. Its LinkedIn page says it was founded in 2016, but no record we found supports that date.
What is Arrow Financials, and does its UAE licence cover my account?
Arrow Financials L.L.C is a Dubai company directed by Arrow Trade's CEO that uses arrowtradefx.com email addresses. The UAE Capital Market Authority licenses it only for introduction, promotion and financial consultations, and its register entry states it may not deal in derivatives or spot FX. It does not hold or protect trading accounts.
Why is Arrow Trade on a Bank of Russia warning list?
On 10 February 2025 the Bank of Russia added arrowtradefx.com to its list of entities showing signs of illegal activity in the financial market, as a possible illegal professional securities market participant. In practice this means it appeared to offer services in Russia without a Russian licence. The entry says nothing about how client money is handled.
Is Arrow Trade a clone of another broker?
No. The FSC register entry belongs to a company named Arrow Trade at the address the website gives, and the website links to that entry itself. We found no sign that it copies another firm's name, licence or address.
What did Arrow Trade claim before it was licensed?
An archived copy of arrowtradefx.com from June 2023 claimed 'nine international licenses', ten years in business and 'Trusted and Regulated' status, while naming a Seychelles company as operator. In 2024 the site still advertised 'International regulations' under Lebanese and Seychelles companies. The Mauritius licence was only granted in October 2024.
What should I check before depositing with Arrow Trade?
Confirm that your agreement names Arrow Trade, Mauritius company 214424, and check that company on the FSC register. Get the fees, minimum deposit, payment methods and withdrawal terms in writing. Start small and withdraw a test amount before adding more.
What can I do if I have a problem with Arrow Trade?
Complain to the company in writing first, and keep copies of all messages, receipts and transaction IDs. If the problem is not resolved, you can complain to the Financial Services Commission, Mauritius, which licenses the company. Be wary of fund recovery services that ask for upfront fees.
What we recommend
The practical takeaway from everything above.
If you are considering Arrow Trade, take these steps before you deposit.
- Check the FSC Mauritius register entry yourself. Make sure your agreement names Arrow Trade, Mauritius company 214424, as the company holding your money.
- Ask for the client agreement, fees, minimum deposit, payment methods and withdrawal times in writing. The website does not publish them.
- Do not treat the Dubai company's UAE licence as protection. It covers introductions, promotion and advice, not trading or holding client money.
- Start with a small amount and make a test withdrawal before adding more.
- If you live in Russia, note that the Bank of Russia lists this website as showing signs of illegal activity.
- Keep your own records: account screenshots, deposit receipts, transaction IDs and every message with staff.
- If a dispute is not resolved, complain to the Financial Services Commission, Mauritius. Ignore fund recovery services that ask for fees upfront.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed November 4, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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