Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighTakes retail deposits at up to 1:500 leverage with no financial licence anywhere, while advertising two. Not 10 because both numbers are genuine company registrations rather than fabricated or borrowed, and no regulator has warned about the firm.
Identity & transparency
5/10 · ModerateNames its legal entity, both registration numbers, a Baku street address, a landline and an email, which is real transparency. Offset by no named owners or managers, no register verification link for either number, and a dead domain still standing as its official main site.
Withdrawals & conduct
6/10 · HighFour specific fund-integrity reports, including an account closed on a 2,000 dollar balance and a 100 USDT deposit never credited, but confined to one platform and set against credible fast-payout reports on three others. Pattern unconfirmed at two of four tests.
Reputation
5/10 · ModerateNet-positive across Persian-language platforms, one carrying 241 comments at 4.6 out of 5, and no warning list entry. Discounted because that positive base sits largely on affiliate-operated review pages and there is no independent footprint, with no Trustpilot presence for either domain.
Website claims
8/10 · CriticalStates it is officially registered and licensed by the FSA and Azerbaijan's financial regulator and headlines two regulatory licences. Both are false against the authorities' own publications. Mitigated by an honest risk warning, a correctly named legal entity and no inflated founding date.
Operational history
5/10 · ModerateComputed track record of about 1.5 years, governed by the contracting company formed in February 2025, with the current website only registered in April 2026. Credited for genuine verified continuity on fx24broker.com since February 2023 and for making no exaggerated age claim.
Who they are
A quick desk file on the company behind the brand.
- Brand: FX24, trading as FX24 Market
- Legal entity: Bigray Finance Group LLC
- Registered: LLC No. 4044 in Saint Vincent and the Grenadines, dated 21 February 2025, plus commercial registration No. 1406246501 in Azerbaijan
- Address given: Nasimi District, Tbilisi Ave., Block 3007, Block 3, Floor 13, House 75, Baku, AZ1102, Azerbaijan
- Website: fx24.market. The older fx24broker.com redirects to it. fx24.one, listed on our record as the main site, no longer resolves
- Licences: none. Both numbers it advertises are company registrations
- Offers: MetaTrader 5 and a web terminal, forex, indices, commodities, shares and crypto CFDs, leverage up to 1:500, minimum deposit 25 dollars
- Funding: Tether on TRC20 or BEP20, plus a Rial payment intermediary. No mainstream card or bank rails
- Markets served: English, Persian and Arabic site, with its following concentrated among Iranian and Turkish traders
- Age claim: none. The broker publishes no founding year, which is to its credit
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
FSA (Saint Vincent and the Grenadines Financial Services Authority)
Central Bank of the Republic of Azerbaijan (CBAR)
Why we reached this verdict
How the evidence adds up.
Two separate licence claims, each refuted by the authority named. That is the core of it.
- The Saint Vincent claim refutes itself. The FSA's own published position is that 'the Authority does NOT issue Forex/Brokers licenses in this jurisdiction' and that it 'neither regulates nor licenses Business Companies (BCs) nor Limited Liability Companies (LLCs) involved in FOREX Trading or Brokerage'. An SVG LLC is formed through a registered agent in 24 hours for general business. Calling registration 4044 a licence is a misstatement, not a technicality.
- The Azerbaijan claim fails at the register. The Central Bank publishes every licensed investment company as one list. We read all 12 entries. Bigray Finance Group is absent, and neither the name nor the number 1406246501 appears. The Central Bank also defines an investment company as a joint-stock company, so an LLC cannot hold this licence at all. Number 1406246501 is a commercial registration.
- It is a real operation, not a facade. fx24broker.com dates from August 2022 and was already running as this same Persian-language MetaTrader 5 broker in February 2023. Most reviewers report withdrawals arriving within hours. This is why the verdict is high risk rather than anything stronger.
- No regulator has acted against it. We swept the FCA, IOSCO and the major alert lists. The similar-sounding FCA entries, SWIFT CAPITAL FX24 at swiftcapitalsfx24.com and THEFX24TRADE, are different firms and we have not counted them.
- Money-back complaints exist but do not yet form a proven pattern. Four accounts describe funds not returned, with amounts and dates, but they sit on a single platform while three others carry a net-positive picture. Two of the four pattern tests are met, so we record this as unconfirmed rather than established.
- The published figure. Our evidence-based score is 65 percent. The contracting company was incorporated in February 2025, so the operation is under three years old, which independently carries a floor of 65 percent. The number is the same either way. It reflects an unlicensed broker that advertises licences it does not have, on a young corporate footing, and not misconduct we have proven.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The FX24 homepage states that the broker is officially registered and licensed by the FSA and Azerbaijan's financial regulator, and its performance panel counts 'Regulatory Licenses' as +2. The footer discloses only two company registration numbers and names no regulator.
StrongFX24 homepageE2The Saint Vincent and the Grenadines FSA states that the Authority does NOT issue Forex/Brokers licenses in this jurisdiction, and that it neither regulates nor licenses Business Companies nor Limited Liability Companies involved in FOREX Trading or Brokerage. The claim of an FSA licence therefore refutes itself.
E3The Central Bank of Azerbaijan's complete register of licensed investment companies contains 12 entities. Bigray Finance Group LLC is not among them, and neither the brand nor the number 1406246501 appears. The register also defines an investment company as a joint-stock company, so an LLC is not eligible for this licence.
E4The SVG FSA's own description of Limited Liability Companies confirms an LLC is formed for general business through a registered agent within 24 hours, with no financial supervision attached. Registration 4044 is corporate formation, not a trading licence.
E5The current FX24 website domain fx24.market was registered on 14 April 2026 through NameCheap, making the broker's primary web address under five months old at the time of writing.
ModerateIdentity Digital registry recordE6The older domain fx24broker.com was registered on 28 August 2022 and now redirects to fx24.market, giving the operation a genuine four-year domain history on its oldest address.
ModerateVerisign registry recordE7fx24.one, recorded on our broker page as the main website, does not exist in the domain name system and returns a non-existent domain response, so it serves no page to visitors.
ModerateGoogle Public DNSE8An archived copy of fx24broker.com from 14 February 2023 shows the same Persian-language FX24 broker offering MetaTrader 5, confirming this operation has run continuously for over three years on that domain.
ModerateInternet ArchiveE9An archived copy of fx24.one from July 2021 shows an entirely different operation: English and European facing, MetaTrader 4 and SIRIX, euro accounts, and a claimed registration by an 'International Financial Market Regulation Center', a body that is not a financial regulator. Nothing ties it to Bigray Finance Group.
WeakInternet ArchiveE10A Persian broker review platform identified with fx24broker.com records registration 4044 in Saint Vincent and the Grenadines dated 21 February 2025 for BigrayFinanceGroup LLC, and carries client reports of a withdrawal refused and an account closed holding 2,000 dollars, a 100 USDT deposit acknowledged on chain but not credited, a 173 dollar profit shortfall, and verification blocking withdrawal eligibility for two months.
Moderateiranbroker.netE11A second Persian platform identified with fx24broker.com carries 241 client comments at an average of 4.6 out of 5 and records the entity as Bigray Finance Group LLC, registered in Saint Vincent and the Grenadines with its operating office in Baku, Azerbaijan. It states the broker is under no tier-one regulator.
Moderatekhanesarmaye.comE12A third Persian platform identified with fx24broker.com states the two registrations are corporate only and do not constitute financial regulation, and reports deposits by Tether on TRC20 or BEP20 and via a Rial intermediary, with withdrawals paid to Tether wallets and no withdrawal complaints recorded.
Moderateutobrokers.comE13The FCA warning naming SWIFT CAPITAL FX24 concerns swiftcapitalsfx24.com at a Weybridge address, published 19 January 2023. It is a different firm and does not concern FX24 or Bigray Finance Group, so no warning-list hit is recorded against this broker.
ModerateFinancial Conduct AuthorityE14The broker's terms and contact pages name Bigray Finance Group LLC with both registration numbers, a Baku address and an Azerbaijani landline, and no regulator is named anywhere in the terms. The contracting entity is disclosed, but no owner, director or manager is identified.
ModerateFX24 terms and contact pagesE15The broker's platforms page confirms trading runs on MetaTrader 5 desktop, web and mobile rather than an in-house simulator, which supports the conclusion that a real trading operation exists behind the brand.
The other side
The strongest case in this broker’s favour.
The case for FX24 being an ordinary regional broker rather than a bad actor is real, and parts of it hold up.
- The company is disclosed, not hidden. The footer, terms and contact page all name Bigray Finance Group LLC, give both registration numbers, a Baku street address and an Azerbaijani landline. Many genuinely fraudulent sites name no entity at all.
- It does not lie about its age. There is no 'since 2007' banner and no founding year anywhere on the site. Our own archive work puts the operation at February 2023 or earlier, which nothing on the site contradicts.
- Withdrawals largely work. Across four Persian-language platforms the dominant report is fast payment, with one carrying 241 comments at 4.6 out of 5. Several users specifically confirm receiving profits without delay.
- Crypto funding is normal for this market. Tether and a Rial intermediary are what Iranian traders can actually use. For a broker serving that audience, the absence of card rails reflects banking reality rather than an attempt to make payments untraceable, and we have weighted it accordingly.
- The trading side is genuine. The platform is MetaTrader 5 rather than an in-house simulator, which is one of the harder things for a purely fake operation to sustain.
- The brand's worst history may not be its own. The 2021 site at fx24.one, which our record still lists, promoted a fictitious 'International Financial Market Regulation Center' and traded on MT4 and SIRIX in euros for a European audience. It shares only the name with today's operation. We could not tie the two together and have not charged that history to this broker.
- Nobody official has complained. No warning list, no enforcement action and no fraud-related court record names this entity, this brand or either of its live domains.
What would change this
What we would need to see to revise the verdict.
Concrete things that would move this either way.
- Toward a clean rating: the appearance of Bigray Finance Group LLC on the Central Bank of Azerbaijan's list of licensed investment companies, or on any recognised financial regulator's register, with the fx24.market domain attached to it.
- Toward a clean rating: the broker removing the words 'licensed by the FSA and Azerbaijan's financial regulator' and the '+2 Regulatory Licenses' figure, and describing 4044 and 1406246501 accurately as company registrations. That single edit would resolve most of what we hold against it.
- Toward a clean rating: a further two years of operation on the current entity, taking the contracting company past the three-year mark with the complaint rate where it is now.
- Toward a worse rating: fund-integrity complaints appearing on a second independent platform with the same mechanism inside one time window. That would complete the pattern test and push this into scam territory.
- Toward a worse rating: any credible report of FX24 asking a client for a tax, fee or 'verification' payment before releasing funds. One specific instance of that would change the verdict on its own.
- Toward a worse rating: a warning notice from any regulator naming fx24.market, fx24broker.com or Bigray Finance Group LLC.
- Toward a worse rating: evidence linking the current operators to the 2021 fx24.one operation, which would attach that fictitious-regulator history to this brand.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Central Bank of Azerbaijan: licensed investment companies
The Central Bank's complete list of licensed investment companies. Bigray Finance Group LLC is not among the 12 entries.
SVG FSA: what a Limited Liability Company registration is
The Authority's own description of LLC formation, showing that a number like 4044 is corporate registration and not a financial licence.
SVG FSA notice stating it issues no forex or broker licences
Carries the Authority's published position on forex licensing. The notice concerns a different company, not FX24.
FCA warning for SWIFT CAPITAL FX24
A different firm at swiftcapitalsfx24.com with a similar name. Included so readers can see it does not concern FX24.
Frequently asked questions
Quick answers about this broker’s safety.
Is FX24 a scam?
We found no proof that FX24 is a scam, and no regulator has warned about it. We do rate it high risk at 65 percent, because it accepts retail deposits without any financial licence while telling visitors it is licensed. Most clients report being paid, but you would have no regulator to turn to if that changed.
Is FX24 a fraud?
No regulator or court has found FX24 guilty of fraud, and we found no fraud-related enforcement action or court record naming Bigray Finance Group LLC or either of its live websites. What we did find is a false statement about being licensed, which is a serious misrepresentation but not the same as a proven crime.
Is FX24 regulated?
No. It holds two company registrations and no financial licence. Saint Vincent and the Grenadines number 4044 is an LLC incorporation, and the FSA there states it issues no forex or broker licences at all. Azerbaijani number 1406246501 is a commercial registration, and the Central Bank's list of licensed investment companies does not include this firm.
The website says it is licensed by the FSA. Is that true?
No. The Saint Vincent and the Grenadines FSA has published that it does not issue forex or broker licences and that it neither regulates nor licenses LLCs involved in forex trading or brokerage. Registration 4044 makes the company exist. It does not supervise how the company treats your money.
Can I withdraw my money from FX24?
Most reviewers say yes, often within a few hours, and fast payouts are the single most common positive comment about this broker. However, four clients describe money that did not come back, including one whose account was closed holding 2,000 dollars and one whose 100 USDT deposit was never credited. Withdraw regularly rather than leaving a large balance.
Is my money safe with FX24?
Your deposits carry no external protection. With no financial licence there is no compensation scheme, no ombudsman, and no supervisory requirement to keep client money separate from company funds. If the company failed or refused to pay, recovery would depend entirely on the company itself.
Who owns FX24?
The site is operated by Bigray Finance Group LLC, which appears twice: as an LLC in Saint Vincent and the Grenadines and under a commercial registration in Baku, Azerbaijan. No directors, owners or managers are named anywhere on the website, and neither register publishes the beneficial owner.
How old is FX24?
The brand has been running at fx24broker.com since August 2022, and archived copies confirm it was already operating as this Persian-language MetaTrader 5 broker in February 2023. The company that now contracts with clients was only formed on 21 February 2025, and the current website was registered in April 2026, so the operation is under three years old on the leg that matters.
Is FX24 a clone of another broker?
No. It uses its own company name, its own registration numbers and its own domains, and it does not borrow another firm's licence or identity. An unrelated broker used the fx24.one address in 2020 and 2021 with a different platform and a fictitious regulator, but we could not connect it to the current operators.
What is a Saint Vincent LLC registration worth to a trader?
Very little. An SVG LLC can be formed through a registered agent within 24 hours and exists for general business purposes. It says nothing about capital, client-money handling or conduct, and the FSA there explicitly does not supervise LLCs doing forex.
Why does the site say it has two regulatory licences?
The homepage counts its two company registrations as licences and states it is licensed by the FSA and Azerbaijan's financial regulator. Neither body licenses it. This is the main reason for our high-risk rating, and correcting that wording would remove most of what we hold against the broker.
How do deposits and withdrawals work at FX24?
Deposits are made in Tether on the TRC20 or BEP20 networks, or in Iranian Rial through a payment intermediary, and withdrawals go back out to a Tether wallet. There are no card or bank transfer rails. Keep every transaction hash, because a blockchain record is the only independent proof of what you sent.
Has any regulator warned about FX24?
Not this one. We checked the FCA, IOSCO and the main international alert lists and found nothing naming fx24.market, fx24broker.com or Bigray Finance Group LLC. Two FCA entries with similar names, SWIFT CAPITAL FX24 and THEFX24TRADE, are separate firms with different websites.
What should I check before depositing with any broker like this?
Search the regulator's own register for the exact company name, not the brand, and confirm the website is listed against it. Read the licence status, dates and permitted activities. If a broker names a regulator but publishes no link to its register entry, as here, treat the claim as unproven until you find the entry yourself.
Scan history
How this broker’s safety assessment has changed across scans.
What changed since September 8, 2026
The operation has moved house since our last look. FX24 now trades from fx24.market, a domain registered on 14 April 2026, with account access at my.fx24.market and id.fx24.market. The older fx24broker.com, registered in August 2022, now redirects there. fx24.one, still listed on our record as the main website, no longer resolves at all. The company position is unchanged: Bigray Finance Group LLC, registration 4044 in Saint Vincent and the Grenadines dated 21 February 2025, alongside Azerbaijani commercial registration 1406246501. No new licence has appeared, and the Instagram, YouTube and Telegram channels are the same, now joined by a WhatsApp contact line.
- September 8, 2026CurrentHigh risk (unverified)65% risk
- September 8, 2026Likely scam70% risk
Past scans are archived snapshots kept for transparency and are not indexed by search engines.
What we recommend
The practical takeaway from everything above.
Treat FX24 as an unregulated broker and size any exposure accordingly.
- Do not read the site's regulatory wording as protection. Neither registration gives you a regulator to complain to, a compensation scheme, or any requirement that your money be held separately from the company's own funds.
- If you already trade there, withdraw in small regular amounts rather than leaving a large balance on the platform, and keep your own records of every deposit, ticket and withdrawal request.
- Never send an extra payment to release a withdrawal. No legitimate broker requires a tax, fee or unlock payment before paying you. If you are asked, stop and treat the balance as at risk.
- Check the two registers yourself using the links below. The Central Bank list takes about a minute to read and settles the Azerbaijan question.
- If you have lost money, report it to the Central Bank of Azerbaijan, which has publicly urged citizens to deal only with entities holding its investment licence, and keep the blockchain transaction hashes for any Tether transfers.
- For our own records: the broker page needs its main website corrected to fx24.market and its legal entity and dates added. See the discrepancies we have flagged.
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 September 8, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.