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Contract reading

What OnFin legally published, but does not want you to read

Every clause below is published by OnFin itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: OnFin Ltd

sole discretionprofit voidinghidden feewithdrawalsdeemed acceptancekyc freezeforum waiveraccount closurebonus lockconflict of interest

OnFin's deposit page says the amount you send is the amount you get. Clause 12 lets OnFin take 13% of that deposit if you withdraw without ten trades. The About page says client money is always segregated, and clause 36 says it may be pooled and set off. Take the 100% bonus and your own deposit is locked until you trade hundreds of lots.

Back to OnFin

Contract risk

Money at risk
8.7/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
12
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
25
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
9
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
8

How the 25 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical12
Warning11
Notice2

section 157 of 177is where the deepest clause sits, 89% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical13%Fee you were not shown. Jump to the clause this comes from.13% fee for withdrawing without ten tradesCritical200Bonus requirement. Jump to the clause this comes from.The bonus locks your deposit, not just the bonusCritical3Withdrawal limit. Jump to the clause this comes from.Withdrawals under 3 lots per $100 count as suspiciousCritical1 working daysTime to complain. Jump to the clause this comes from.One business day to challenge a trade before it is final

What the documents say

25 clauses worth knowing about, worst first, each quoted from OnFin's own files

01

Deposit money, trade fewer than ten times, then ask for it back, and OnFin can take 13% of your deposit. Clause 12 calls it a deposit and withdrawal fee. The fee is charged on what you paid in, not on what you take out.

Why this matters

Withdrawing $100 from a $1,000 deposit still costs you $130, because the fee follows the deposit and not the withdrawal. OnFin's withdrawal page shows 0% on every method and never mentions trading activity.

Exhibit 1CriticalRarely seen13%

In the event that the Client creates a withdrawal request without sufficient trading activity on the account, the Company has the right to deduct from the Client's account a deposit and withdrawal fee in the amount of 13% of the deposit amount. Sufficient trading activity is considered to be the presence of at least 10 trading operations each lasting at least 3 minutes.
Clause 12 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026The claim, on English deposit page, opening statement under the heading Fund your accountVisit this page on the broker's siteDownload the full size image file
Our own capture of onfin.io, taken on Sep 2, 2026What the contract says, clause 12Visit this page on the broker's siteDownload the full size image file

Where it sits: section 30 of 106 in the Client Agreement, 28% of the way through.

What it costsA $1,000 deposit with nine trades on it carries a 13% fee of $130. Ask for $100 back and the fee is still $130.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must set out all costs and charges to a retail client before they trade. OnFin puts this fee in clause 12, under a heading about margin, and leaves it off the withdrawal page.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingMost withdrawal penalties are charged on the amount withdrawn. This one is charged on the deposit, so it does not shrink when you take out less, and a small withdrawal can cost more than it returns.

  • Worse together with Exhibit 5Two separate clauses gate your withdrawal on trading volume, one with a fee and one with a suspicion review, and neither appears on the withdrawal page.
02

OnFin's About page tells you client funds sit in segregated accounts and are not used for anything else. Clause 36 of the Client Agreement says the third party holding your money may keep it in a pooled account. That third party may also take security over it or set it off.

Why this matters

If that third party fails, clause 36 says OnFin can only make an unsecured claim for you. You would stand in line with everyone else the firm owes.

Exhibit 22CriticalHarder than usual

The third party to which the Company transfers money may hold it in a pooled account, so it may not always be possible to separate such money from the money of other Clients or the third party's own money.
Clause 36 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026Segregated on the website, pooled in the contract (clause 36)Visit this page on the broker's siteDownload the full size image file

Buried at section 86 of 106 in the Client Agreement, 81% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia)

Firms licensed by the FCA, CySEC or ASIC must hold client money apart from their own, reconcile it daily, and tell a retail client plainly when it is pooled. OnFin's contract discloses the pooling and its About page denies it.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

03

Take an OnFin bonus and your own deposit stops being withdrawable. Both are released only after turnover of one standard lot for every $3 of bonus. OnFin's own example puts a $600 bonus behind 200 lots of closed trades.

Why this matters

The promotions page advertises a 100% bonus with no deadline and says nothing about turnover. Take it on a $1,000 deposit and your $1,000 is locked until you trade 333 lots.

Exhibit 10CriticalHarder than usual200

The replenishment amounts and the Bonus accrued on them are released and become available for withdrawal only after the total trade turnover (in standard lots) in the amount of: Number of lots = Bonus amount/3.
Quoted in Bonus Program Terms
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026The claim, on English promotions page, the 100% Welcome Bonus card marked ACTIVEVisit this page on the broker's siteDownload the full size image file
Our own capture of onfin.io, taken on Sep 2, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file
Our own capture of onfin.io, taken on Sep 2, 2026The bonus locks your deposit, not just the bonusVisit this page on the broker's siteDownload the full size image file

Where it sits: section 12 of 37 in the Bonus Program Terms, 32% of the way through.

What it costsA $1,000 deposit with a 100% bonus gives $1,000 of credit. Releasing it needs 1,000 divided by 3, which is 333 lots, and your own $1,000 stays locked until then.

Set against a regulated standard: ESMA (EU), FCA (UK)

ESMA and the FCA ban monetary bonuses to retail CFD clients outright, because the trading needed to release them works against the client. OnFin advertises a 100% bonus on its promotions page.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Bonus creditedYour deposit and the bonus are both blocked for withdrawal.
Equity falls to the bonus amountOnFin removes the bonus and force closes your open positions.
Day 30 with no tradeOnFin can take the bonus off your account.
Stop OutAll bonuses are removed from your account in full.
Turnover of bonus divided by three, in lotsThe bonus and your deposit are released for withdrawal.
  • Worse together with Exhibit 11The turnover you must trade to free your deposit is the same activity OnFin's abuse list calls generating trading volume without any purpose.
04

If one of your accounts goes negative, OnFin can pull the shortfall out of any other account it believes is connected to you. Clause 12 does not require proof of a connection, only OnFin's belief in one. The other account does not have to be yours.

Why this matters

The contract never defines what counts as a connection between two accounts. Money you did not lose can be taken from a balance that is not yours.

Exhibit 7CriticalRarely seen

In the event that the amount of funds in the Client's account becomes negative, the Company has the right to repay the negative result on that account by transferring funds from any other account of the Client's Personal Area or from the account of any other Personal Area, if the Company believes that there is a connection between such Personal Area and the Client.
Clause 12 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026A negative balance can be taken from another person's account (clause 12)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 30 of 106 in the Client Agreement, 28% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must keep each client's money available to that client, and may not apply one client's money to another client's debt. Clause 12 does the opposite.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingSet off across accounts is a commercial banking device. Here it reaches an account belonging to someone else, on OnFin's belief alone, with no definition of what makes two accounts connected and no notice to the person losing the money.

  • Worse together with Exhibit 8One clause lets OnFin take money across accounts it believes are linked, and the other lets it decide they are linked on indirect indications alone.
05

OnFin does not have to prove or explain a change to your trading results. Clause 8 says it need not confirm or explain blocking your account, disabling it, or revising what your trades earned. Clause 34 lets it cancel executed transactions on suspicion alone.

Why this matters

A profit in your account is not settled until OnFin decides it is. No clause anywhere in the contract entitles you to a reason.

Exhibit 9CriticalHarder than usual

The Client understands and agrees that the Company is not obliged to in any way prove the accuracy of operations and actions performed on the Client's trading account, nor to confirm or provide explanations regarding the blocking of the trading account, disabling of the trading account, revision of trading results or other actions.
Clause 8 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026Trading results can be revised with no explanation owed (clause 8)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 18 of 106 in the Client Agreement, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client a written explanation of a decision that affects their money, and a route to challenge it. Clause 8 removes the explanation.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 12OnFin can revise a result without explaining it, and you have one business day to object before the revised record becomes binding on you.
06

The About page tells you your orders never touch an internal dealing desk. Clause 37 of the Client Agreement lets OnFin act as the counterparty to any transaction on your account. The User Guide says a dealer picks orders out of the queue by hand, in any order.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

When OnFin is on the other side of your trade, your loss is its gain. The same company sets the quote, decides which price counts as non-market, and can cancel the trade.

Exhibit 21CriticalHarder than usual

The parties entering into this Agreement hereby acknowledge and agree that the Company may act as counterparty to the Client in any transaction entered into on the Client's account.
Clause 37 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026The claim, on English About page, under the heading Direct liquidity in the Principles we won't compromise on sectionVisit this page on the broker's siteDownload the full size image file
Our own capture of onfin.io, taken on Sep 2, 2026What the contract says, clause 37Visit this page on the broker's siteDownload the full size image file

Buried at section 88 of 106 in the Client Agreement, 83% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose when they deal on their own account against a retail client, prominently and before the client trades. OnFin discloses it in clause 37 of 44 and denies it on its About page.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

You have one business day to challenge a trade

Clause 22 of OnFin's Client Agreement makes a trade confirmation final unless you object within 1 business day. The User Guide gives you three business days to file any claim, counted from when the problem happened. The Complaints Policy, the document you would read first, mentions neither deadline.

Complaint deadlines3 clauses flagged

You get 1 business day to object to a trade confirmation. After that, clause 22 makes OnFin's record of it correct, final and binding on you. Clause 23 counts an email as delivered when OnFin sends it, whether it reaches you or not.

Why this matters

Miss the day and OnFin's version of what happened becomes the only version. The clock runs whether or not the confirmation email ever reached you.

Exhibit 12CriticalHarder than usual1 working days

Reports on confirmation of order execution and account statements for the Client shall be deemed correct and are final and binding on the Client unless an objection is received immediately upon receipt and confirmed in writing within 1 (one) business day after execution of the Client's order.
Clause 22 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026One business day to challenge a trade before it is final (clause 22)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 58 of 106 in the Client Agreement, 55% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must accept a retail complaint for years after the event, not days, and cannot contract that right away. OnFin's clause 22 closes it after one business day.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Claims reach OnFin only by email, and only within three business days of the day the problem arose. Miss that and the User Guide says OnFin can refuse to consider your claim. The clock starts when the event happened, not when you noticed it.

Why this matters

A problem you find while reviewing your account a week later is already out of time. You must also reply to OnFin within three business days or your claim is treated as closed.

Exhibit 13CriticalHarder than usual3 working days

Claims are accepted within three business days from the date the grounds for filing them arise. The Client agrees that failure to meet the claim filing deadline is grounds for refusal to consider the claim.
Clause Procedure for Handling Claims and Disputes in User Guide
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026Three business days to file any claim, from the event (clause Procedure for Handling Claims and Disputes)Visit this page on the broker's siteDownload the full size image file

Buried at section 157 of 177 in the User Guide, 89% of the way through.

OnFin's Complaints Policy reads well: 5 business days to acknowledge, 30 calendar days to resolve, records kept for five years. It never mentions the three business day filing deadline in the User Guide. The document you would reach for first is the one that omits the trap.

Why this matters

Following the Complaints Policy alone can put you out of time before you write. Nothing in it warns you that the clock started the day the problem happened.

Exhibit 14WarningHarder than usual30 days

The Company will acknowledge receipt of the complaint within 5 business days and provide the customer with a complaint reference number.
Clause 3.1 in Complaints Handling Policy
Read from the broker's site on Open the reference

Buried at section 23 of 37 in the Complaints Handling Policy, 62% of the way through.

  • Only applies after Exhibit 13The friendly policy only misleads because a second document sets a three day deadline it never mentions.

The fee pages say 0% and the contract says 13%

Clause 12 of OnFin's Client Agreement lets it take 13% of your deposit if you withdraw without ten trades of at least three minutes. The User Guide adds a 10% administrative fee on the total of all your deposits for a rules breach. OnFin's own deposit page says the amount you send is the amount you get.

Cost disclosure2 clauses flagged

Break OnFin's trading rules and it takes 10% of everything you have ever deposited. The User Guide says the Company shall withhold this administrative fee, not that it may. The charge is on your total deposits, not on the trade in dispute.

Why this matters

Deposit $5,000 over a year and this fee is $500, whatever the disputed trade was worth. OnFin decides on its own whether a rule was broken.

Exhibit 2CriticalRarely seen10%

In the event of detection of such a situation, as well as in the event of violation of the Trading Operations Regulations, the Company shall withhold an administrative fee of 10% of the total amount of all client deposits.
Clause Orders, 16 in User Guide
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026A 10% fee on all your deposits for a rules breach (clause Orders, 16)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 99 of 177 in the User Guide, 56% of the way through.

What it costsDeposits totalling $5,000 carry a 10% administrative fee of $500. The size of the disputed trade does not change it.

Our readingA penalty sized on lifetime deposits rather than on the disputed trade has no ceiling tied to the alleged conduct. The longer you have been a client, the more a single finding costs you.

OnFin can change any fee at any time without telling you first. Clause 19 also puts markups, markdowns, transfer charges and statement fees on you. It lets OnFin take them straight out of your account.

Why this matters

You agree to pay costs that are listed nowhere and can be raised after you deposit. The About page tells you there are no hidden markups, while clause 19 has you agreeing to pay them.

Exhibit 3WarningHarder than usual

The Client agrees to pay expenses (including, but not limited to, markups and markdowns, account statement fees, inactive account fees, order cancellation fees, account transfer fees, fees from brokers and money managers, or other fees) arising from the provision of services by the Company under this Agreement. The Company may change the amount of fees without prior notice to the Client.
Clause 19 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026The claim, on English About page, under the heading Transparent pricingVisit this page on the broker's siteDownload the full size image file
Our own capture of onfin.io, taken on Sep 2, 2026What the contract says, clause 19Visit this page on the broker's siteDownload the full size image file

Where it sits: section 49 of 106 in the Client Agreement, 46% of the way through.

Getting your money out depends on how much you traded

Clause 21 of OnFin's Client Agreement treats a withdrawal as suspicious if you traded less than 3 lots for every $100 you take out. Clause 20 sets no deadline for paying you at all. Any open position on any of your accounts blocks withdrawal completely.

Exit conditions2 clauses flagged

OnFin treats a withdrawal as a suspicious operation when you have traded less than 3 lots for every $100 you take out. Clause 21 then lets OnFin suspend the transfer and block your accounts while it investigates. Nothing puts a deadline on that investigation.

Why this matters

Taking out $1,000 needs 30 lots of qualifying trades behind it, or your withdrawal can be held. OnFin's withdrawal page never mentions lots, volume or trading activity.

Exhibit 5CriticalHarder than usual3

Abuse of transfers without performing trading operations on trading accounts (less than 3 lots on Forex, Metals, Indices, and Commodities instruments on ECN, FIX, and MINI trading accounts for every 100 dollars or equivalent withdrawn during the reporting period).
Clause 21.1 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026The claim, on English withdrawal page, subheading under Quick and Easy WithdrawalsVisit this page on the broker's siteDownload the full size image file
Our own capture of onfin.io, taken on Sep 2, 2026What the contract says, clause 21.1Visit this page on the broker's siteDownload the full size image file

Where it sits: section 54 of 106 in the Client Agreement, 51% of the way through.

What it costsWithdrawing $1,000 needs 30 lots under this clause. Withdrawing $10,000 needs 300 lots.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must pay a retail client's money out promptly on request, and may hold it only on a genuine financial crime concern. OnFin's clause turns a low trading volume into that concern by definition.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

OnFin sets its own withdrawal timetable and promises none in the contract. Clause 20 says processing time may increase with the amount and the method. If you hold any open position or pending order, clause 12 says you cannot withdraw at all.

Why this matters

The withdrawal page promises 0 to 5 business days, but nothing in the contract holds OnFin to it. A single long term position on any of your accounts freezes your whole balance.

Exhibit 6WarningHarder than usual

Withdrawal requests are processed within the timeframes established by the Company on a first-come, first-served basis. The processing time of the request may be increased depending on the withdrawal amount and the withdrawal method.
Clause 20 in Client Agreement
Read from the broker's site on Open the reference

Where it sits: section 51 of 106 in the Client Agreement, 48% of the way through.

OnFin can revise your trading results and owes you no explanation

Clause 8 of OnFin's Client Agreement says it need not prove or explain a revision of your trading results. Clause 16 lets OnFin offset profit on one account against a loss on another it treats as linked. Clause 12 lets it recover a negative balance from an account belonging to someone else.

Discretion over results1 clause flagged

OnFin gives you negative balance protection, then keeps the right to take it away. Clause 16 lets OnFin cancel trades and profits, keep the negative balance in place, and require you to repay it. Indirect indications are enough to treat separate accounts as linked.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

The protection you were promised disappears exactly when a large loss makes you need it. OnFin decides on its own whether what you did counts as abuse.

Exhibit 8CriticalHarder than usual

If the Company identifies indirect indications that opposing results were generated on two accounts belonging to the same Client or related parties, the Company may treat such accounts as interconnected and make the appropriate adjustment to the results, including offsetting the profit generated on one account against the loss incurred on the other account.
Clause 16 in Client Agreement
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026Negative balance protection can be withdrawn on suspicion (clause 16)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 42 of 106 in the Client Agreement, 40% of the way through.

Set against a regulated standard: ESMA (EU), FCA (UK)

Under ESMA and FCA rules, negative balance protection for a retail CFD client is a floor the firm cannot remove, and the firm absorbs any shortfall. OnFin offers the protection in clause 16 and reserves the right to refuse it in the same clause.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Your funds can be frozen until OnFin is satisfied

OnFin's KYC Policy promises that no account is frozen without a suspicion of money laundering. The AML Policy lets OnFin suspend a transaction indefinitely and hold crypto deposits for up to 7 days on a risk score alone. The Client Agreement lets OnFin block your account any time it asks for more documents.

Verification holds2 clauses flagged

OnFin's AML Policy lets it suspend a transaction indefinitely and freeze your funds while it investigates. A crypto deposit scored in the middle band can be held for up to 7 days. A high score means the funds are frozen and your account may be suspended.

Why this matters

Your money stays frozen until you satisfy OnFin, and nothing sets an outer limit. The KYC Policy promises the opposite: that no account is frozen without a suspicion of money laundering.

Exhibit 20CriticalHarder than usual7 days

Suspend the transaction indefinitely or freeze the user's funds pending a full investigation.
Clause 3 in Anti-Money Laundering Policy
Read from the broker's site on Open the reference
Our own capture of onfin.io, taken on Sep 2, 2026Funds can be frozen indefinitely on a risk score (clause 3)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 50 of 102 in the Anti-Money Laundering Policy, 49% of the way through.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Green, risk score 0 to 0.5Your funds are credited automatically.
Yellow, risk score 0.5 to 0.8OnFin may hold the funds for up to 7 days and starts enhanced due diligence.
Red, risk score 0.8 to 1OnFin freezes the funds and may suspend your account until its investigation ends.

OnFin gives you 15 days to send identity documents before it closes your account. The Client Agreement separately lets OnFin demand more documents at any time, without explanation. Your account can be blocked for trading until you comply.

Why this matters

A document request can arrive at any point, including the moment you ask to withdraw. Your account stays blocked until OnFin is satisfied, and no clause says how long that takes.

Exhibit 19WarningStandard wording15 days

The clients are provided with a grace period of fifteen (15) days to provide the Company with their identification documents;
Clause Verification Procedure in KYC Policy
Read from the broker's site on Open the reference

Where it sits: section 44 of 88 in the KYC Policy, 50% of the way through.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 0OnFin asks you for identity and address documents.
Day 15OnFin closes the account if verification is not finished.

Always segregated on the website, pooled in the contract

OnFin's About page says client funds sit in segregated accounts and are not used for anything else. Clause 36 of the Client Agreement says the third party holding your money may pool it and may set it off. Partners are told they are paid daily, while the Partner Agreement pays monthly and only above $1,000.

Promise against contract1 clause flagged

OnFin's partner page says commission reaches your wallet every day and that referred clients stay yours. The Partner Agreement pays monthly, and only once you have earned at least $1,000. Below that the balance rolls over, and after three months it can be cancelled.

Why this matters

Earn under $1,000 for three months running and OnFin can void everything you built up. After 12 months of inactivity it can write off all previously credited funds.

Exhibit 23WarningHarder than usual$1000

The Affiliate's commissions will be paid monthly. If the total amount of commission due is less than $ 1,000, the Company reserves the right not to make the payout and to carry the balance over to the next period.
Clause 7.2 in Partner Agreement
Read from the broker's site on Open the reference

Buried at section 70 of 102 in the Partner Agreement, 69% of the way through.

The bonus locks the money you deposited, not just the bonus

OnFin's Bonus Program Terms release your own deposit only after turnover of one standard lot for every $3 of bonus. Their own example puts a $600 bonus behind 200 lots. The promotions page advertises a 100% bonus with no deadline and mentions none of this.

Bonus lock1 clause flagged

OnFin can write off your bonus and every profit made with it if it suspects abuse. Its list of abuse includes generating trading volume without any purpose. The bonus terms require exactly that volume before anything is released.

Why this matters

You have to trade hundreds of lots to unlock your own deposit, and that trading can be called purposeless. OnFin can then remove the bonus and the profits without notice or explanation.

Exhibit 11WarningHarder than usual

If the Company suspects or has reason to believe that this bonus promotion is being abused by the client, the Company reserves the right to refuse to credit the bonus or write off all bonus accruals from the client's account, including profits earned from trading using bonus funds, without prior notice or explanation.
Quoted in Bonus Program Terms
Read from the broker's site on Open the reference

Where it sits: section 19 of 37 in the Bonus Program Terms, 51% of the way through.

OnFin can close your account and change your terms without telling you

Clause 8 lets OnFin close your account for any reason without explaining. Clause 31 lets OnFin change the contract without sending you notice, and puts the duty on you to check the website. The User Guide lets OnFin change your leverage, offered up to 1:3000, at its own discretion.

Unilateral control3 clauses flagged

OnFin can refuse to open your account or close it for any reason, without telling you why. Clause 8 gives it that right at its own discretion. Clause 24 adds that rudeness to a staff member can end the relationship.

Why this matters

You can be shown the door with no reason given and no route to challenge it. The contract does not say what happens to an open position when that happens.

Exhibit 16WarningHarder than usual

The Company may reject the Client's application to open an account or close the Client's account for any reason at the Company's discretion without explanation of the grounds for such action.
Clause 8 in Client Agreement
Read from the broker's site on Open the reference

Where it sits: section 18 of 106 in the Client Agreement, near the start.

  • Same clause as Exhibit 9Clause 8 both allows the closure and removes any duty to explain the trading results revised on the way out.

OnFin can change this contract whenever it likes and does not have to tell you. Clause 31 puts the duty on you to keep visiting the website to find out. Clause 1 treats your payment as unconditional acceptance of whatever is posted.

Why this matters

The terms you agreed to on the day you deposited may not be the terms tomorrow. Clause 19 lets fees change the same way, with no notice.

Exhibit 17WarningHarder than usual

The Company is not obligated to send the Client individual notices of changes to the Agreement. The Client undertakes to regularly visit the Company's website to review such possible changes made by the Company to the legal documentation and other information.
Clause 31 in Client Agreement
Read from the broker's site on Open the reference

Buried at section 78 of 106 in the Client Agreement, 74% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client advance written notice of a change to the contract. OnFin's clause 31 replaces notice with a duty on you to check the website.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

OnFin offers leverage from 1:20 to 1:3000, which means $1 of your money can control $3,000 of currency. The User Guide lets OnFin change that ratio on your account at any time, without telling you first. It can also change your account type at its own discretion.

Why this matters

A leverage cut applied while you hold positions raises the margin those positions need. That can push you into a stop out on trades you opened under the old ratio.

Exhibit 18WarningRarely seen3000

The Company has the right, at its sole discretion and without prior notice, to change the leverage ratio on one or more of the Client's trading accounts or to change the leverage ratio for any specific instrument offered for trading.
Clause Leverage in User Guide
Read from the broker's site on Open the reference

Buried at section 129 of 177 in the User Guide, 73% of the way through.

What it costsAt 1:3000, $100 of margin controls $300,000. A move of 0.033% against that position erases the $100.

Set against a regulated standard: ESMA (EU), FCA (UK), ASIC (Australia)

ESMA, the FCA and ASIC cap retail leverage on major currency pairs at 30:1. OnFin's User Guide offers up to 1:3000 and reserves the right to change it without notice.

OnFin is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingRetail leverage above 1:1000 is unusual even among offshore brokers. At 1:3000 the margin behind a position is a third of one percent of its size, so an ordinary intraday move can erase it.

Any claim goes to a court in the Comoros within one year

Clause 40 of OnFin's Client Agreement sends every dispute to a court in the Union of the Comoros. You waive a jury and you waive any argument that the venue is inconvenient. No claim may be brought more than one year after it arose.

Where you sue1 clause flagged

Any dispute with OnFin goes to a court in the Union of the Comoros and nowhere else. Clause 40 has you waive a jury and waive any argument that the venue is inconvenient. You also lose the right to bring a claim more than one year after it arose.

Why this matters

Travelling to the Comoros to sue over a trading account costs more than most accounts hold. That is the practical effect of clause 40, whatever your claim is worth.

Exhibit 15WarningHarder than usual

No action, regardless of form, arising out of or relating to this Agreement or transactions hereunder may be brought by the Client more than one year after the cause of action has arisen.
Clause 40 in Client Agreement
Read from the broker's site on Open the reference

Buried at section 91 of 106 in the Client Agreement, 86% of the way through.

Two documents name two different inactivity fees

OnFin's Client Agreement charges $30 a month after two months without a trade. The User Guide charges $50 a month after 60 days for the same silence. Both documents bind you, and neither says the fee stops when your balance runs out.

Dormant accounts1 clause flagged

Stop trading for two months and OnFin starts charging a monthly fee. The Client Agreement says $30 a month. The User Guide says $50 a month for the same 60 days of silence.

Why this matters

You cannot tell from the documents which fee you will pay. Four months of the $50 fee is $200, which is the whole of a $200 balance.

Exhibit 4WarningHarder than usual$50

The Company has the right to suspend servicing of the Client's trading account and charge an inactivity fee of 50 (fifty) US dollars per month if more than 60 (sixty) days have passed since any transaction was made on all of the Client's trading accounts opened with the Company.
Clause Closing of Client Positions, 7 in User Guide
Read from the broker's site on Open the reference

Buried at section 116 of 177 in the User Guide, 66% of the way through.

What it costsFour months at the User Guide's $50 fee comes to $200. On the Client Agreement's $30 fee the same four months costs $120.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 60 with no closed tradeOnFin may suspend servicing your account and start the monthly fee.13
While inactiveOnFin may archive the account. You have to ask for it back and supply information.13
  • Worse together with Exhibit 1Not trading costs you a monthly fee, and then leaving costs you 13% of the deposit, so the same inactivity is charged twice.

OnFin Ltd contracts from the Comoros with no compensation scheme named

You contract with OnFin Ltd, registered in Fomboni, Comoros under number HT00224026 and licensed by the Mwali International Services Authority. No document names a compensation scheme or an independent ombudsman. The Anti-Money Laundering Policy commits staff to protecting the reputation of Saint Vincent and the Grenadines, a country OnFin says it does not serve.

Who you contract with2 clauses flagged

You contract with OnFin Ltd, registered in Fomboni, Comoros under number HT00224026. Its licence comes from the Mwali International Services Authority. No document in the set names a compensation scheme or an independent body you can escalate to.

Why this matters

If OnFin fails, no fund stands behind your balance and no ombudsman can order it to pay you. Clause 1 also binds you to all other applicable agreements posted on the website, including ones not yet written.

Exhibit 24NoticeStandard wording

This Agreement ("Agreement") is entered into between OnFin ltd, registered address: Moheli Corporate Services LTD P.B. 1257 Bonovo Road, Fomboni, KM (Comoros), registered under number HT00224026 and licensed by the Mwali International Services Authority, Island of Mohéli, represented by its Director, Alejandro Enrique Pereira Ramos
Clause Preamble in Client Agreement
Read from the broker's site on Open the reference

Where it sits: section 3 of 106 in the Client Agreement, near the start.

OnFin's Anti-Money Laundering Policy commits its staff to maintaining the reputation of Saint Vincent and the Grenadines. The same page tells you OnFin does not operate there. The policy also refers to the Company's regulators in the plural, and never names one.

Why this matters

This is the policy that decides when your funds get frozen. It names the wrong country and never names the regulator that supervises OnFin.

Exhibit 25NoticeHarder than usual

The directors, officers and staff shall at all times act in such a manner as to maintain the reputation of Saint Vincent and the Grenadines as a major international financial center and to impede the use of the jurisdiction for illegal, criminal and terrorist purposes.
Clause 1 in Anti-Money Laundering Policy
Read from the broker's site on Open the reference

Where it sits: section 18 of 102 in the Anti-Money Laundering Policy, near the start.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The deposit page promises no internal fees, while clause 12 names a deposit and withdrawal fee of 13% of the deposit.

Said in public, in English

We don't charge internal fees on any deposit channel — the amount you send is the amount you get.

English deposit page, opening statement under the heading Fund your account

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In the contract · clause 12

In the event that the Client creates a withdrawal request without sufficient trading activity on the account, the Company has the right to deduct from the Client's account a deposit and withdrawal fee in the amount of 13% of the deposit amount.

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02

The withdrawal page promises no hassle and never mentions lots, while clause 21 makes a low volume withdrawal a suspicious operation OnFin can suspend.

Said in public, in English

Requests are processed quickly and without hassle.

English withdrawal page, subheading under Quick and Easy Withdrawals

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In the contract · clause 21.1

Abuse of transfers without performing trading operations on trading accounts (less than 3 lots on Forex, Metals, Indices, and Commodities instruments on ECN, FIX, and MINI trading accounts for every 100 dollars or equivalent withdrawn during the reporting period).

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03

The promotions page says the bonus has no deadline, while the bonus terms let OnFin take it back after 30 days without a trade.

Said in public, in English

Double your first deposit with a 100% bonus on your trading balance. For new traders, no deadline.

English promotions page, the 100% Welcome Bonus card marked ACTIVE

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In the contract

The bonus can be debited from the customer's trading account in case of no trading activity (buy/sell transaction) for 30 days.

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04

The About page denies an internal dealing desk, while clause 37 lets OnFin be the counterparty to every trade you make.

Said in public, in English

We route directly to tier-1 banks and non-bank market makers. Your orders touch real liquidity, not an internal dealing desk that profits when you lose.

English About page, under the heading Direct liquidity in the Principles we won't compromise on section

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In the contract · clause 37

The parties entering into this Agreement hereby acknowledge and agree that the Company may act as counterparty to the Client in any transaction entered into on the Client's account.

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05

The About page promises no hidden markups, while clause 19 has you agreeing to pay markups and markdowns that OnFin can change without notice.

Said in public, in English

The spread you see is the spread you get. No hidden markups, no asymmetric slippage, no last-look rejections.

English About page, under the heading Transparent pricing

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In the contract · clause 19

The Client agrees to pay expenses (including, but not limited to, markups and markdowns, account statement fees, inactive account fees, order cancellation fees, account transfer fees, fees from brokers and money managers, or other fees) arising from the provision of services by the Company under this Agreement.

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06

The About page says client money is always segregated, while clause 36 says it may sit pooled with other clients' money and the third party's own.

Said in public, in English

Client funds are held in segregated accounts with top-tier banks. They are not used for operations, speculation, or anything else.

English About page, under the heading Client money, always segregated

In the contract · clause 36

The third party to which the Company transfers money may hold it in a pooled account, so it may not always be possible to separate such money from the money of other Clients or the third party's own money.

07

The partner page promises daily credit, while clause 7.2 pays monthly and withholds anything under $1,000.

Said in public, in English

Commission is credited to your partner wallet every day.

English Introducing Broker page, payout description

In the contract · clause 7.2

The Affiliate's commissions will be paid monthly. If the total amount of commission due is less than $ 1,000, the Company reserves the right not to make the payout and to carry the balance over to the next period.

08

The partner page promises clients stay yours for life, while clause 3.9 lets OnFin move them to another partner's group.

Said in public, in English

Once a client is tagged as yours, they stay yours. No 30-day cookies, no re-attribution — you keep earning for as long as they trade.

English Introducing Broker page, attribution promise

In the contract · clause 3.9

Upon the Client's request, the Company has the right to transfer his account to another Affiliate's group after prior notification of the existing Affiliate.

The documents this reading is based on

9 files, all published by OnFin. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording OnFin publishes.

How this reading was done

Every clause above was read out of a document OnFin publishes itself

This reading was published on .

Documents
9 of 9downloaded from the broker's site, and 9 read in full
Pages opened
42pages walked to find those documents, footer links included
Marketing pages
11public pages set against what the contract says
Position measured
25clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

OnFin Ltd

You contract with OnFin Ltd, an international business company registered in Fomboni on the island of Mohéli, Comoros, under number HT00224026. Its licence, BFX2024038, comes from the Mwali International Services Authority. The Client Agreement names Alejandro Enrique Pereira Ramos as its director, and spells the company OnFin ltd in that opening paragraph. No second entity appears anywhere in the document set, so a retail client deals with this company and no other.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

OnFin publishes all nine legal documents as ordinary web pages on one index, with no PDF to download and no login. Most brokers do not. Clause 16 gives you negative balance protection in its opening sentence, which many offshore brokers never offer. The Spanish contract is a faithful translation: it carries the same 13% fee and the same lot requirements as the English one. The Complaints Policy sets real internal deadlines of 5 business days to acknowledge and 30 calendar days to resolve.

We read all nine of OnFin's legal documents in full, on OnFin's own website. No earlier copies of them exist to compare against, so we cannot tell you which clauses are new or which were quietly rewritten. We checked the Spanish version of the Client Agreement and found the same clauses with the same numbers. We did not check the eight other languages OnFin publishes. The KYC Policy has broken words in its published text. One of them splits the sentence promising that funds will not be withheld, so that quotation may not match the page exactly. OnFin offers Copy Trading, Prop Trading and a Prop Challenge, and publishes no terms for any of them.

How to check any of this yourself

Every quote above links to the OnFin file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document OnFin publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge OnFin on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 2, 2026.

If you represent OnFin and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on OnFin. Whether its licence is real and current is a separate check on the broker profile.

Back to the OnFin profile