Is FOREXer a scam?

• Brand: FOREXer
• Legal entity: Forexer Limited (Labuan, Malaysia) is the only entity we could tie to a financial licence. The site also advertises FOREXer LLC (Delaware, USA), FOREXer Advisory AG (Zurich), FOREXer Limited (Auckland, New Zealand) and FOREXer Limited (Mauritius).
• Registered: Office 5, Kim Business Centre 3, Unit F30, 1st Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Labuan F.T., Malaysia, as recorded by the Labuan FSA. The Dubai premises at 1st floor, DIBC, Hor Al Anz East are a representative office.
• Website: www.forexer.com, with regional and product sites including forexer.com.my, forexer.live, forexer.gold and forexer.academy
• Only licence: a Labuan FSA money-broking licence held by Forexer Limited. Nothing tier-1 or tier-2 anywhere.
• Offers: MetaTrader 5 trading in currencies, precious metals, energy and digital assets, leverage advertised up to 1:500, a $100 minimum deposit, card and bank-transfer funding, and a managed product called the FOREXer Gold Fund.
• Not accepted: the main site publishes no list of restricted countries, which is unusual for a broker licensed only offshore.
• Age claim: 'More Then 20 Years Experience' and 'over two decades', with a stated founding in 2003 as Ntwo Capital Markets in Wilmington, Delaware.

We could verify the licence that matters, and we could not verify most of what is advertised around it. That combination is what the high-risk-unverified rating describes.

• The licence is real and the broker is not an impersonator. The Labuan FSA directory of money brokers, updated 9 September 2026, lists Forexer Limited with a Labuan street address, the telephone number 087-504 053, the contact email accounts@forexer.com.my and Ms. Afsana Jowkar as director. The email sits on the broker's own domain and the Labuan address matches the address published on forexer.com.my, so the licence belongs to this operation rather than to a company it is imitating.
• A money-broking licence is a weak licence. It permits arranging currency transactions from the Labuan offshore centre. There is no investor compensation scheme, and it does not carry the client-money protections of a tier-1 regime. It also does not cover running a managed fund, which is what the FOREXer Gold Fund is sold as.
• The New Zealand registration ended in 2017 and is still on the About page. The Financial Service Providers Register shows FOREXER LIMITED (FSP298426), registered 16 July 2013, deregistered 13 July 2017, last annual confirmation filed 8 November 2016, and records that it 'was registered to provide' a broking service. The New Zealand companies register shows company 4416438 as removed. Even when it was live, FSPR registration was a directory entry and never a licence, which is precisely why overseas brokers have used it to sound New Zealand regulated.
• The Mauritius claim does not survive the register. Searching the FSC Mauritius Online Public Register of Licensees for 'Forexer', 'Forex' and 'FOREXER LIMITED' returns no data, while a control search returns results normally. The register covers entities licensed to provide financial services, so a company holding only a Global Business licence would not appear. That is consistent with the number reported for this entity, GB24202777, which follows the Global Business Company format. Presenting that as 'FSC Regulation' tells a reader they are supervised for trading when they are not.
• The site names no regulator at all where it counts. The homepage carries the phrases 'Regulated Broker' and 'Regulated by world-class supervisory entities'. The regulations page says operations are 'governed by regulatory bodies' and gives no regulator, no number and no verification link. A broker that genuinely holds a licence normally links it.
• The corporate story and the archive do not line up. forexer.com was registered on 7 December 2004 and the archived homepage of 2 February 2006 is already a working FOREXer forex and CFD site with account types and a live price feed, so roughly twenty years of brand presence is real. That page's footer reads 'Cyber Financial Corporation', not the Delaware company the About page credits with founding the business in 2003. The Delaware and Zurich entities could not be confirmed on any register, because Delaware publishes no free entity search with incorporation dates and the Swiss commercial register exposes no searchable public listing for this name.
• The track record we can evidence is shorter than the one advertised. The oldest domain dates to 2004, but the oldest company we could actually date is the New Zealand entity incorporated on 13 May 2013, and that one is struck off. The licensed Labuan company could not be dated. So the figure of about thirteen years is an upper bound, and the twenty-two years the site claims rests on brand continuity rather than on a corporate record we could follow.
• Client complaints are thin rather than absent. We found one fund-integrity report, from Argentina in August 2021, describing a deposit of 48,000 pesos that the broker said it never received. One report five years old on a single platform is not a pattern, and we say so plainly. No Trustpilot profile exists for forexer.com, www.forexer.com or forexer.live, and there is no discussion of the broker on Reddit. For a firm advertising two decades of global business and with 178 Instagram followers, that is a very small footprint.
• One review was flagged as the broker's own. ForexPeaceArmy's moderators zeroed a five-star rating on its FOREXer page after the reviewing account was found using the same address as a FOREXer representative. Writing your own good reviews is not theft, but it tells you how the firm manages its reputation.
• What is not here matters too. We found no entry naming FOREXer or its domains on any regulator warning or alert list, no enforcement action, and no fraud-related court record. There is a genuine MetaTrader 5 server under the name FOREXer-Server, and funding runs through card networks and bank transfer rather than crypto wallets only. Both point to a real trading business.