Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
10/10 · CriticalNo licence from any regulator while taking deposits from 1,000 USD at 1:500 leverage, a published company number that does not exist, and a Bank of Russia warning entry naming okeyfx.com: three of the four conditions reserved for the top of this scale.
Identity & transparency
10/10 · CriticalThe corporate identity is invented: no OKEYFX entity and no number 29288 on the Saint Vincent registry, no Saint Vincent registered office, no directors or owners named, and legal wording copied from another brand.
Withdrawals & conduct
6/10 · HighOne credible dated account of a February 2024 withdrawal never paid and support going silent, consistent with the platform being abandoned, but no corroborated multi-platform pattern, so scored below the top band.
Reputation
8/10 · CriticalA central-bank warning entry, no Trustpilot presence at all, an empty review page on the main forex review site and only three user ratings traceable anywhere, averaging 2.4 out of 5, with no positive trace to offset it.
Website claims
10/10 · CriticalOutright falsehoods: a non-existent incorporation number, group experience claimed from 2007 against a December 2022 first trace, and Credit Suisse shown as a current liquidity provider six months after it ceased to exist.
Operational history
9/10 · CriticalAbout two years of verifiable life, December 2022 to December 2024, against an advertised history of roughly fifteen years more, with no datable company at all and the site now abandoned and the domain lapsed.
Who they are
A quick desk file on the company behind the brand.
What the operation said about itself, taken from its own pages:
- Brand: OkeyFX
- Legal entity: OKEYFX’ Limited, described as a Business Company incorporated in Saint Vincent and the Grenadines under number 29288 BC 2018. No company of that name or number appears on that jurisdiction’s registry.
- Registered: no Saint Vincent registered office was ever published. The only address given was Bud 3, Galytsky RN, Pl. Petrushevych, Lviv 79005, Ukraine, with a Ukrainian mobile number on +380 66 521 9298.
- Website: okeyfx.com, with the client area at client.okeyfx.com. Neither resolves today.
- Only licence: none. The site named no regulator, carried no licence number and published no link to any register.
- Offers: forex, metals, indices, energies and crypto CFDs on MetaTrader 5 and cTrader, leverage to 1:500, minimum deposit 1,000 USD on the Standard account and 10,000 USD on the VIP account, plus copy trading, bonuses, funding challenges and a personal account manager.
- Not accepted: residents of the United States, Japan, Belgium, Hong Kong and Afghanistan. Clients were solicited in English, Arabic, Persian and Russian.
- Age claim: a footnote on every page read that the group’s cumulative experience started in 2007. The earliest verifiable trace of the website is a certificate issued on 29 December 2022.
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
Saint Vincent and the Grenadines Financial Services Authority (company registry)
Why we reached this verdict
How the evidence adds up.
Two findings carry this verdict on their own, and they come from two different kinds of record, so neither depends on the other.
- The company number is fabricated. The Saint Vincent and the Grenadines Financial Services Authority publishes a searchable company list covering 34,764 entities, including cancelled and terminated ones, updated weekly. Searching it for OKEYFX returns nothing, and searching for 29288 returns nothing. More tellingly, the highest registration number that jurisdiction has ever issued is 27370, allocated in October 2026, and the last number issued in 2018 was 25252. A number of 29288 was therefore not available in 2018 and is not available now. The broker invented a company identity in the format the real registry uses.
- A central bank has formally flagged the exact website. The Bank of Russia’s list of companies with identified signs of illegal activity in the financial market carries an entry dated 9 August 2024 for Okeyfx, with okeyfx.com recorded as the site, under the heading it uses for an illegal professional participant in the securities market. The entry is still open. This is a regulator naming the precise domain under investigation, not a similarly named firm.
Several further findings point the same way:
- It was unambiguously taking client money. The account page set out margin-call and stop-out levels, a 1,000 USD minimum deposit and a 10,000 USD VIP tier. This was a brokerage holding deposits, not a training or signals business, so the absence of any licence is a real exposure and not a feature of the model.
- The institutional backing it advertised does not hold up. Three major names appeared as liquidity providers with nothing to support any of those relationships, and Credit Suisse was still on the page in December 2024 although Credit Suisse AG was merged into UBS AG and ceased to exist on 31 May 2024.
- Its own legal wording was lifted from somewhere else. The disclaimer at the foot of every page referred to advertisements published by a different brand, Xclusive, which shows the documents were copied rather than drafted for this business.
- The advertised history is roughly fifteen years longer than anything we can evidence, and the company leg of that history cannot be dated at all because the entity does not exist. The age figure rests on the website alone, so treat it as an upper bound.
- It then disappeared. The site was serving a parked page by 19 December 2024 and the domain registration has since lapsed.
On the arithmetic, the six scored dimensions give a weighted mean of 9.13, so 91 per cent, and two independent decisive findings set a floor of 90. The published figure is 91.
One thing this is not. OkeyFX did not copy another broker’s name or wear another firm’s licence number, so it is not a clone, and we have not treated it as one. The complaint trail is also thin: we found one detailed first-hand account and no corroborating pattern across platforms, so the verdict does not rest on client reports.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Bank of Russia's list of companies with identified signs of illegal activity in the financial market carries entry 29331, dated 9 August 2024, for Okeyfx, recording the site as okeyfx.com and the finding as signs of an illegal professional participant in the securities market. The entry is still open. This is a regulator naming the exact domain under investigation.
E2The Saint Vincent and the Grenadines Financial Services Authority company list, covering 34,764 entities including cancelled ones and updated to 12 October 2026, returns no result for OKEYFX and no result for 29288. The highest registration number ever issued there is 27370, allocated on 9 October 2026, and the last number issued in 2018 was 25252. The number 29288 BC 2018 that the broker published could not have existed in 2018 and does not exist now.
E3The broker's own about page states that OKEYFX' Limited is a Business Company incorporated in St. V and G with incorporation number 29288 BC 2018, and names no regulator, no licence number and no verification link anywhere on the page.
E4The account comparison page confirms a deposit-taking brokerage rather than a training or prop business: a 1,000 USD minimum on the Standard account and 10,000 USD on the VIP account, leverage of 1:500, margin-call at 100 per cent and stop-out levels, on MetaTrader 5 and cTrader.
E5Certificate transparency records for okeyfx.com run from 29 December 2022 to 18 December 2024 across 122 entries, with the final certificate being the one a parking service issues. That first date is roughly fifteen years after the group experience from 2007 that the site advertised on every page.
E6The homepage displayed the marks of LMAX, Bank of America and Credit Suisse under the heading 'Our Liquidity Provider', with nothing offered to evidence any of those relationships. It was still presenting Credit Suisse in this capacity on 2 December 2024, although Credit Suisse AG was merged into UBS AG and ceased to exist on 31 May 2024. The same page claimed more than 25 global pricing institutions.
E7The disclaimer repeated at the foot of every page refers to advertisements published by Xclusive, a different brand, showing that the legal documentation was copied from another operation rather than prepared for this business. The footer also carried a 2023 copyright line a year after it was current.
E8The site ran full English, Arabic, Persian and Russian versions and listed a Ukrainian mobile number and a Lviv street address, so it actively solicited retail clients across the Middle East, Iran and the Russian-speaking world while holding no authorisation in any of those markets. Only the United States, Japan, Belgium, Hong Kong and Afghanistan were excluded.
E9okeyfx.com does not resolve. A DNS query for the domain returns the response code for a name that does not exist, and no current registration record is published for it, which is consistent with the registration having been allowed to lapse.
E10The last capture of a working broker site is 2 December 2024. By 19 December 2024 the address resolved to a parked holding page, and the certificate issued on 18 December 2024 by a registrar's parking service dates the switch. The operation was abandoned roughly four months after the Bank of Russia listed it.
E11A Persian-language broker directory records the operation as having stopped trading, gives its founding as 2022 and its base as Lviv, and carries a client account describing a deposit paid in Tether, onboarding handled over Telegram, the platform ceasing to show prices, a withdrawal requested in late February 2024 that was never paid, and support no longer responding as of December 2024.
E12A Russian-language review of okeyfx.com published on 23 August 2024, two weeks after the central bank listing, reports that the operator does not pay withdrawals and notes the absence of any licence or regulatory documentation, although it cites no individual client cases.
E13The operation left almost no community trace for a business claiming years of history: no Trustpilot profile exists for the domain, the review page on the main forex review site carries no reviews, and the only user ratings traceable anywhere are three on a single Persian-language directory, averaging 2.4 out of 5. No positive reviews were found on any platform.
E14In the broker's favour: it did not claim to be regulated by the Saint Vincent authority or by anyone else, did not quote another firm's licence number and did not copy another broker's brand or corporate identity. It also published a prominent and accurate CFD risk warning and disclosed the jurisdictions it excluded.
E15The Saint Vincent and the Grenadines Financial Services Authority has published no warning notice naming OkeyFX. Its investor alerts page lists other entities only. Absence from a warning list is not clearance, and that regulator does not license or supervise forex business in the first place.
The other side
The strongest case in this broker’s favour.
The case for the broker, tested properly before we reached this verdict:
- It never claimed a licence it did not hold. This matters, and it is the single most honest thing about the operation. The site did not say it was regulated by the Saint Vincent authority, did not borrow a tier-one licence number and did not name a regulator it had nothing to do with. It stated a company registration and left it there. That is a materially less deceptive posture than the clone cases that dominate this category.
- Offshore registration alone is not misconduct. Hundreds of real brokers operate on nothing more than an offshore company and a weak licence. Had the Saint Vincent number checked out, this would have been a high-risk unregulated broker rather than a scam. The number not existing is what changed the answer.
- Could the registry simply be incomplete? We tested this. The list runs to 34,764 entities, retains cancelled and terminated companies, is refreshed weekly and returns correct results for control searches. And the range argument does not depend on completeness at all: 29288 sits beyond the highest number the jurisdiction has ever allocated.
- Could it be a real group’s regional arm, or a rebrand with continuity? No parent, group or predecessor was named anywhere on the site, and we found no company structure behind it. A possible sibling brand surfaced during the work but we could not tie it to these operators from any source we would stand behind, so we have not recorded it or held its history against this broker.
- Could the warning be about a different firm with a similar name? No. The central bank entry records the website as okeyfx.com. We also set aside a quantity of material about OKX, OK-EX and OkeyDeposit, which are separate businesses and have nothing to do with this one.
- Genuine mitigation. The site carried a prominent and accurate CFD risk warning, disclosed that it excluded several jurisdictions, and we found no regulator enforcement action, no court record and no evidence of anyone being asked for a further payment to release funds.
What would change this
What we would need to see to revise the verdict.
This verdict is falsifiable. Any of the following would force us to revise it:
- The Saint Vincent and the Grenadines registry listing a company named OKEYFX, or any entity holding registration number 29288, with an incorporation date consistent with 2018. That would refute the central finding.
- The Bank of Russia closing or withdrawing its 9 August 2024 entry for okeyfx.com.
- Documentary evidence that the operation held a licence from any recognised financial regulator during the period it was taking deposits.
- Confirmation from LMAX, Bank of America or UBS that a liquidity relationship with this operation genuinely existed.
- Evidence that clients who asked for their money back in 2024 were in fact paid, which would move this from an abandonment to an ordinary business failure.
- The brand returning under a named successor that honours the outstanding balances. A new site reusing the brand without doing so would not change anything.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Bank of Russia: list of companies with signs of illegal financial activity
Search this list for okeyfx to see the entry dated 9 August 2024.
Saint Vincent and the Grenadines FSA: company name search
The official registry. Search OKEYFX or 29288 and compare with the number the broker published.
Saint Vincent and the Grenadines FSA: investor alerts
The Saint Vincent regulator's own warning notices. OkeyFX does not appear here.
OkeyFX about page, as archived in October 2024
The broker's own statement of its legal entity and the 29288 BC 2018 number.
Frequently asked questions
Quick answers about this broker’s safety.
Is OkeyFX a scam?
Yes. We assess OkeyFX as a scam. It accepted client deposits without a licence from any regulator, published a Saint Vincent company registration number that does not exist on that jurisdiction's registry, and was added to the Bank of Russia's illegal-activity list on 9 August 2024. The website then went dark in December 2024 and the domain no longer resolves.
Is OkeyFX a fraud?
We hold evidence, not a court judgment, so we put it this way: we assess the risk of fraud as high. The conduct we can document is that an unlicensed operation took deposits of 1,000 US dollars and upwards, advertised a company number that cannot exist, displayed major banks as liquidity providers without anything to support it, and then abandoned the website. No regulator or court has issued a fraud finding against this entity that we could locate.
Is OkeyFX regulated?
No. It held no licence from any financial regulator anywhere. Its own website named no regulator, quoted no licence number and linked to no register. The only official record naming it is a warning: the Bank of Russia lists okeyfx.com as showing signs of an illegal securities-market operator.
What about its Saint Vincent registration, number 29288 BC 2018?
That number does not exist. The Saint Vincent and the Grenadines Financial Services Authority publishes a searchable list of 34,764 companies, including cancelled ones. There is no company called OKEYFX and no registration number 29288. The highest number that jurisdiction has ever issued is 27370, and in 2018 it had only reached 25252. Even had it been genuine, a Saint Vincent company registration is not a forex licence and gives a client no protection.
Can I still withdraw my money from OkeyFX?
Almost certainly not through the platform. okeyfx.com and client.okeyfx.com stopped serving a site in December 2024 and the domain registration has since lapsed, so there is no login, no support channel and no registered company to pursue. One client has described asking for a withdrawal in late February 2024 and never being paid, with support going quiet. Your realistic routes are a bank or card chargeback and a police report.
Was my money ever safe with OkeyFX?
No. With no licence there was no capital requirement, no segregation of client money, no reporting obligation and no compensation scheme. Deposits sat with an operator whose corporate identity was invented, which means there was never an accountable legal entity standing behind the balance.
Who owned and ran OkeyFX?
Nobody is named. The site published no directors, no owners and no shareholders. The entity it claimed, OKEYFX' Limited, does not appear on the Saint Vincent registry, so there are no filings to inspect. The only contact details given were a mobile number and a street address in Lviv, Ukraine, and an info@okeyfx.com email address.
How old was OkeyFX really?
About two years as a live business. A footnote on its pages claimed group experience dating from 2007, but the earliest verifiable trace of the website is a certificate issued on 29 December 2022, and the first archived capture is December 2023. The site was abandoned in December 2024. Because the claimed company does not exist, there is no corporate history to date, so even the two-year figure is an upper bound resting on the website alone.
Is OkeyFX a clone of another broker?
No, and this is worth being precise about. OkeyFX did not copy another broker's brand, did not quote another firm's licence number and did not impersonate a regulated company. It invented its own corporate identity instead. Separately, do not confuse it with OKX or OK-EX, which are crypto exchanges, or with OkeyDeposit, all unrelated businesses.
Why did the Bank of Russia list OkeyFX?
On 9 August 2024 it added Okeyfx, with the website okeyfx.com, to its public list of companies showing signs of illegal activity in the financial market, under the category it uses for an illegal professional participant in the securities market. In plain terms, the regulator considers the operation to have been offering investment services to Russian residents without the authorisation required to do so. The entry remains open.
What happened to the OkeyFX website?
It was shut down. The last capture of a working broker site is 2 December 2024. By 19 December 2024 the address was serving a parked holding page, and a certificate issued on 18 December 2024 dates the switch. The registration has since been allowed to lapse, so the domain does not resolve at all now.
The site showed Bank of America, Credit Suisse and LMAX as liquidity providers. Was that true?
Nothing supported it, and one part of it was impossible. The page was still presenting Credit Suisse as a current liquidity provider in December 2024, but Credit Suisse AG was merged into UBS AG and ceased to exist on 31 May 2024. An unlicensed company with a 1,000 dollar minimum deposit does not hold direct liquidity relationships with institutions of that size, and the site offered no evidence of any of the three.
I was approached by someone offering to recover my OkeyFX losses. Should I pay?
No. Treat it as a second attempt on your money. Recovery-room operators work from lists of people who lost money to collapsed brokers and charge an upfront fee, a tax or an unlocking payment, then disappear. Genuine help does not require payment in advance. Go to your bank and to your national police or financial-crime unit instead.
What should I check before depositing with any broker?
Find the licence number on the regulator's own register, not on the broker's website, and confirm three things match: the entity name on the register, the website address, and the company that will actually hold your deposit. Check whether the licence permits dealing rather than only advice. If a broker names no regulator at all, or offers a company registration number in place of a licence, that is the end of the conversation.
What we recommend
The practical takeaway from everything above.
Do not send money to this operation, and treat any approach using the OkeyFX name as hostile.
- Do not deposit. There is no licensed entity to deposit with. The websites no longer resolve, so anything presenting itself as OkeyFX today is running on new infrastructure and is not the business described here.
- If you are owed money, gather everything now while you still have it: deposit receipts, wallet addresses and transaction hashes, account statements, the names your account manager used, and your chat and email history. Evidence is the only asset left.
- Report it where it counts. File with the police or financial-crime unit in your own country, and with the regulator where you live. If you paid by card or bank transfer, open a chargeback or recall with your bank immediately, since those windows close. If you paid in crypto, give the wallet addresses to your national cybercrime unit.
- Refuse every recovery offer. People who lost money to a collapsed broker are targeted next by firms promising to retrieve it for an upfront fee. Those are a second theft. No legitimate recovery service asks for payment in advance.
- Before any future broker, check the licence number on the regulator’s own register rather than on the broker’s website, and confirm the entity named on the register is the same one that will hold your deposit.
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 October 15, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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