Overall Score46 / 100The Wikilix trust rating of MTFX, out of 100, built from the five factors below.It holds a valid FINTRAC M08042065 licence.Regulation38%Identity58%Client terms45%Trading offer53%Service44%Score last calculated 2026/10/29
High risk35 to 49. Serious gaps in regulation, client terms or conduct; the record points to real risk for a deposit.Why: It holds a valid FINTRAC M08042065 licence.
46 out of 100 · 59% checkedThe share of the record we could verify. What we could not check counts as unknown and pulls the score toward the middle, never down.
Do not trust
High risk
Fair
Good
Excellent
It holds a valid FINTRAC M08042065 licence.
We checked MTFX on 2026-10-29 across its regulation, company record, client terms, trading offer and service, and could verify 59% of its record. Its strongest valid licence is FINTRAC M08042065. The score of 46 is what the checked record adds up to; nothing held it down. What would move the score: licence held by the onboarding entity, verified age, transparency. No investigation has been published yet, so complaints and reputation are unknown. Its client terms have not been reviewed yet.
Whether a financial authority supervises this broker: the licences it holds, whether we verified them on the official register, how strong that regulator is and what protection it gives clients. Worth 35 points of 100.
Identity
Who is behind it, and for how long?
58out of 100
Fair
Counts for 15% of the score60% checked
What we checked
Registry-verified entity50
1 entity(ies) recorded with a registration number · Aug 23, 2026
Verified ageNot checked yet
No verified age
Transparency50
2 of 4 transparency checks met (entity, address, complaints, ownership)
Site integrity100
Website reachable and not redirecting · Sep 10, 2026Source
What this measures
Who is behind it and for how long: a company registration we verified, years of verified history, how openly it names its entity, address and owners, and whether its website is intact. Worth 15 points.
Client terms
Are the client terms fair?
45out of 100
Poor
Counts for 15% of the score20% checked
What we checked
Policy riskNot checked yet
No published policy review
Critical clausesNot checked yet
No published policy review
Withdrawal rails23
3 rail(s): 0 fee-free of 3 known, 1 instant of 3 known, minimum $100 · Nov 26, 2025
Language parityNot checked yet
No published policy review
What this measures
How fair the client agreement is: the risk found in our policy review, the number of critical clauses, withdrawal rules, and whether the terms say the same in every language. Worth 15 points.
Trading offer
What does trading cost, and is it disclosed?
53out of 100
Fair
Counts for 20% of the score45% checked
What we checked
All-in EURUSD costNot checked yet
No EURUSD spread known
Pricing disclosed per account type22
2 of 9 pricing cells filled across 3 account type(s) · Aug 23, 2026
Instrument breadth100
forex 100, crypto ?, cfd/indices/commodities/stocks ? · Aug 23, 2026
PlatformsNot checked yet
No trading platform recorded
Leverage vs regulated cap100
Maximum leverage 1:1 · Aug 23, 2026
Minimum deposit100
Minimum deposit $0 · Aug 23, 2026
What this measures
What trading costs and how clearly it is disclosed: pricing per account type, the all-in cost of EURUSD, instruments, platforms, leverage against regulated limits and the minimum deposit. Worth 20 points.
Service
How do they treat clients?
44out of 100
Poor
Counts for 15% of the score35% checked
What we checked
Fund-integrity complaintsNot checked yet
No published scam check
Support channels33
2 of 6 support checks (phone, email, 24/7 chat, 2+ languages, messenger, complaints email) · Aug 23, 2026
Reputation footprintNot checked yet
No published scam check
WIKILIX communityNot checked yet
0 approved review(s), fewer than 10
What this measures
How clients are treated: support channels, complaints about withdrawals and reputation from our investigation, and reviews by WIKILIX members. Worth 15 points.
What Wikilix has recorded about MTFX: its history, the licences it holds, its trading conditions and its fees.
MTFX is a Canadian cross-border payments and foreign exchange provider operating under the MTFX Group brand at . It is important to be clear about what MTFX is before anything else: it is a money services business built around international transfers, multi-currency payments and currency risk management for individuals and companies. It is not a retail forex or CFD trading broker. The company publishes no trading platform, no leverage, no spreads and no margin accounts, and prospective clients looking for a leveraged trading venue are in the wrong place.
Who operates it. The business names two operating legal entities. MTFX Inc. is the Canadian company, which publishes Ontario Corporation Number 1181341 and works from offices in the Greater Toronto Area. MTFX USA Inc. is the United States company, with a principal office in Jersey City, New Jersey. Both are presented by the company as part of the same group. These are the entities the company itself names; they have not been checked against the corporate registers, and a reader who needs that confirmation should treat the numbers as claims until verified.
Regulation, stated accurately. MTFX Inc. is registered as a money services business with the Financial Transactions and Reports Analysis Centre of Canada under MSB registration number M08042065, and that registration is confirmed on the FINTRAC register. The company also publishes a Quebec money services business licence numbered 10075, and MTFX USA Inc. holds a FinCEN money services business registration numbered 31000083130347. Every one of these is an anti money laundering and money transmission registration. None of them is a forex or CFD trading licence, and none of them brings with it the client money segregation, negative balance protection or investor compensation scheme a trading licence would. That distinction is the most important thing to understand about this company: the registrations are genuine, and they cover payments, not investment trading.
What it offers. The service covers international transfers to a wide range of destination countries in more than fifty currencies, with access to over one hundred currency pairs, alongside e-commerce collection, large value corporate transfers, multi-currency account management and currency hedging tools for businesses. Two account types are published, a Personal account for individual transfers, tuition payments and regular remittances, and a Business account for corporate cross-border payments, supply chain settlement and multi-currency management. Access is through an online portal and mobile apps rather than a trading terminal.
Funding and fees. Money moves by bank channels rather than by the card and wallet routes a trading broker would use:
Bank transfer, including EFT and wire, from 100 CAD, typically one to three business days, with a 25 CAD fee on each side.
Interac e-Transfer, Canada only and CAD only, from 100 up to 10,000 CAD, instant to one business day, 1.50 CAD.
Bill payment, Canada only and CAD only, from 100 up to 10,000 CAD, one to three business days, 2.50 CAD.
Credit and debit cards, e-wallets such as PayPal, Skrill and Neteller, and cryptocurrency are not accepted for either funding or withdrawal. Bank account verification is required, and business transfers may need further documentation.
Support. Telephone support runs on a North American toll-free line and a Toronto number, with email support and live chat during business hours, Monday to Friday, 9:00 AM to 5:00 PM Eastern. Support is published in English. A help centre is available at .
Who it suits, and the honest caveats. MTFX suits Canadian and United States businesses and individuals making recurring or large international payments, where the alternative is a bank and the value is in the exchange rate and the settlement speed. It does not suit anyone looking to trade currencies on margin. There are three caveats. The regulatory footprint is payments regulation only, so there is no investor protection scheme behind client funds. Funding is restricted to bank channels and, for two of the three methods, to Canadian residents with Canadian bank accounts. The company's own published pricing is quoted in fees, not in a full rate margin, so the true cost of a transfer depends on the exchange rate offered at the time. Compare it against alternatives on each transaction.
Website archive
Captured
Website snapshots
8 full-page captures of MTFX's own site, archived so what they said can still be read after the pages change.
MTFX is listed with a tier-1 or tier-2 licence that we have not yet checked against the regulator's register. An unchecked licence is not a finding either way.
1 of 3 checked
Licences on recordEvery licence or registration recorded for this broker, whether the broker claims it or our check found it.
3
Confirmed on registerLicences we located on the issuing regulator's own public register, with a screenshot taken at the time.
1
Tier 1 or 2Licences from tier-1 or tier-2 authorities (FCA, ASIC, CySEC and peers), the strongest client protection. A registration we could not confirm as a licence is not counted.
1
OffshoreLicences from offshore registers, which typically carry no compensation scheme and lighter oversight.
1
WIKILIX
Licence intelligence
The strongest of 3 licences on file
Licence Verification Record
Autorité des Marchés Financiers10075
Recorded from the firm's own disclosure. Not yet checked against the register.
Jurisdiction
Canada
Authority strength
Tier 1
Licence type
Common Business Registration
Not yet checked on the register
Client protection under this licence
Compensation schemeUp to €70000 (Fonds de Garantie des Dépôts et de Résolution)
Negative balance protection
Complaints routeAMF Mediation Service
Maximum leverage1:30
These are the rules AMF sets for the firms it licenses. They are not a statement about how MTFX applies them, or about which of its companies would hold your account.
A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.
Named as accepted — not a full list of served markets
CACanadaUSUnited States
How we know — 9 sources
1Canada and the United States are accepted: the broker's compliance page states it is registered with FINTRAC in Canada (Registration No. M08042065) and is 'licensed as a money transmitter by the relevant state regulatory agency in the U.S. states listed below', with a US licensing PDF and a state-by-state complaints table. Source: https://www.mtfxgroup.com/regulatory-information/compliance-canada/ (Compliance - Canada and Compliance - US tabs). The site's own marketing frames the service as sending money from Canada and names a US client address in Jersey City, New Jersey.
2The broker's own pages name no country that it refuses, so no block is confirmed. This reflects the absence of any published restriction list.
3No likely block is recorded either. The compliance page says 'For added control we monitor the Office of Foreign Asset Control (OFAC) guidelines as a means of enhancing our compliance regime'. This describes monitoring, not a refusal of residents of any jurisdiction, and it names no jurisdiction. Expanding it into country codes would state a restriction the broker's pages do not make. Source: https://www.mtfxgroup.com/regulatory-information/compliance-canada/
4Location 1 (client agreement / terms): https://www.mtfxgroup.com/terms-of-use/ is a website terms-of-use document only and contains no eligibility, restricted-jurisdiction or residency clause. No separate client agreement is published in the footer's Legal menu.
5No dedicated countries page is published. The help centre at https://www.mtfxgroup.com/help-center/ has no restricted-countries article. https://www.mtfxgroup.com/send-money/ lists countries you can send money to (190+ countries, 50+ currencies), not who may open an account, so it neither blocks nor accepts any country.
6Location 3 (signup form country list): the onboarding country list on https://register.mtfxgroup.com/personal/signup and /business/signup could not be confirmed. This is the source that would decide who can open an account, and it remains unverified.
7Location 4 (AML/KYC, funding and partner terms): the AML/compliance content at https://www.mtfxgroup.com/regulatory-information/compliance-canada/ holds no country restriction, and no separate AML policy page is published. https://www.mtfxgroup.com/privacy-policy/, https://www.mtfxgroup.com/safe-harbor-policy/ and https://www.mtfxgroup.com/partner-with-us/ name no restricted jurisdiction. The one payment restriction found is a method restriction, not a country one: 'we will not accept payment in cash or by cheques'.
8Location 5 (regulator filings for the named entity): the Canadian FINTRAC registration number and the US state money-transmitter licensing are recorded above as published on the broker's own compliance page; they were not checked against the registers themselves.
9Location 6 (footer disclaimer and language variants): the footer on the home page and the compliance page carries no risk or 'not directed at residents of' disclaimer, only 'MTFX Inc. is a registered MSP/ISO of U.S. Bank National Association and Elavon a US and Canadian Company.' The site publishes no locale-prefixed language variants, so there is no per-market variant set to read a served-markets list from.
Deposits & withdrawals
Funding Methods
6 ways to fund an account. One credits instantly. The costliest way in is Bank Transfer (EFT/Wire) at CAD 25.
6 methods
Method
Deposit fee
Withdrawal fee
Min deposit
Withdrawal min / max
Processing
Bank Transfer (EFT/Wire)Bank TransferRequires bank account verification; business transfers/withdrawals may require additional documentation.
CAD 25
CAD 25
CAD 100
CAD 100/—Not recorded
Up to 3 days
Interac e-TransferBank TransferOnly for Canadian residents; requires Canadian bank account.
CAD 1.5
CAD 1.5
CAD 100
CAD 100/CAD 10,000
Instant
Bill PaymentOtherRequires Canadian bank account; may require additional verification.
MTFX Inc.ActiveCanada·Registration 1181341Canadian operating entity named by the broker, which publishes Ontario Corporation Number 1181341 and holds the FINTRAC and Quebec money services business registrations. Claimed by the broker, not yet checked against the corporate register.
MTFX USA Inc.ActiveUnited StatesUnited States operating entity named by the broker, principal office in Jersey City, New Jersey, holding the FinCEN money services business registration and state money transmitter licences. Claimed by the broker, not yet checked against the corporate register.
Company registry check
Checked
Company Registration
MTFX names MTFX Inc. as the operating company. We could not confirm that registration on the registry.
MTFX is an established platform specializing in cross-border payments, supporting the transfer of 50+ currencies to over 190 countries.
MTFX Group offers customer support via live chat during business hours and email support at customersuccess@mtfxgroup.com. They provide phone support with an international number and maintain active social media channels for additional contact. Support is available primarily in English.
MTFX Group does not charge commissions on trading accounts. The minimum deposit amount is 0 USD, but funding methods like bank transfer and Interac e-Transfer have minimum deposit requirements, typically starting at 100 CAD. Deposit fees apply depending on the payment method used.
MTFX Group supports bank transfers, Interac e-Transfer, and bill payment methods for deposits and withdrawals, primarily in Canadian dollars. Credit/debit cards, e-wallets, and cryptocurrencies are not supported as of 2025. Fees and processing times vary by method, with bank transfers taking up to 3 business days and Interac e-Transfer being faster.
MTFX Group is registered in Canada and regulated by FINTRAC and AMF, both government authorities. FINTRAC oversees money services business registration, while AMF regulates investment services with high standards. However, MTFX does not provide client fund insurance, so users should consider this when assessing safety.
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