Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
9/10 · CriticalSole licence is a MISA registration that expired on 13 March 2025 and comes from a body the Comoros central bank has disavowed, yet it is advertised as current; no recognised regulator oversees it and the site offers no verify link.
Identity & transparency
6/10 · HighThe current entity and address are disclosed and consistent, but ownership is hidden, the real operating base is obscured (self-reported location shifted from Cyprus to Georgia across the rebrand) and the brand was switched from ECN.broker.
Withdrawals & conduct
8/10 · CriticalA strong, cross-platform fund-access pattern spanning OnFin and its predecessor, including a 45,000 USD balance seizure and a group reporting 300,000 USD stuck; some users are paid late, so it is not a confirmed total freeze.
Reputation
7/10 · HighTrustpilot suspended the rating for a guidelines breach after removing fake reviews; a bimodal five-star and one-star split with detailed withdrawal complaints, though no formal regulator warning yet names the site.
Website claims
8/10 · CriticalPresents an expired licence as current regulation and claims a 2015 founding with 2021 awards while the company, domain and copyright all date to 2024.
Operational history
6/10 · HighThe operating entity is about two years old (2024) and reached its current form by rebranding away from ECN.broker, a brand that carried its own withdrawal complaints.
Who they are
A quick desk file on the company behind the brand.
A short desk file on who is behind OnFin.
- Brand: OnFin (formerly ECN.broker).
- Legal entity: OnFin Ltd, Comoros IBC HT00224026.
- Registered: Moheli Corporate Services LTD, P.B. 1257 Bonovo Road, Fomboni, Island of Moheli, Comoros.
- Website: onfin.io (registered April 2024); the older ecn.broker domain now redirects to it.
- Only licence: Mwali International Services Authority (MISA), number BFX2024038, recorded end date 13 March 2025 (now expired).
- Offers: MetaTrader 4 and 5 trading in forex, CFDs, commodities, crypto and indices, plus copy trading and a prop-challenge product, with leverage advertised up to 1:3000.
- Not accepted: United States, Seychelles, Saint Vincent and the Grenadines, Japan, Spain, Italy, France, Portugal, Denmark, Estonia, Slovenia and Greece.
- Age claim: says it was founded in 2015, but the company, the website and the site copyright all date to 2024.
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
Mwali International Services Authority (MISA)
Why we reached this verdict
How the evidence adds up.
We weighed the evidence and reached a likely-scam verdict for five main reasons.
- No real regulation. OnFin leans on one licence from MISA, a body the Central Bank of the Comoros has disavowed. Independent reviewers class MISA as a red-tier authority and OnFin as unregulated. The licence number BFX2024038 carries a recorded end date of 13 March 2025, so on its own terms it has not been valid for over a year, yet the footer still presents it as current.
- Money does not come back easily. Across Trustpilot and other forums, clients describe withdrawals dragging on for weeks. One trader describes holding more than 45,000 USD across two accounts and having the balance removed through ledger entries labelled Service after asking to withdraw profit.
- The history carries. OnFin is the former ECN.broker. That brand collected severe cannot-withdraw complaints, including one person reporting a group of 30 with 300,000 USD unable to withdraw, and another waiting more than 40 days for 38,000 USD. A new name does not clear that record.
- Manufactured reputation. Trustpilot has suspended OnFin score for a guidelines breach and states it removed fake reviews. The rating pattern is split between heavy five-star praise and detailed one-star fund complaints.
- Misleading self-description. The site claims a 2015 founding and shows 2021 awards, but the OnFin Ltd company, the onfin.io domain and the site copyright all point to 2024. On this record we assess the risk of fraud as high.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The onfin.io domain was registered on 8 April 2024, which contradicts the advertised 2015 founding.
E2The predecessor domain ecn.broker (registered 10 November 2016, same registrar) now redirects to onfin.io, confirming OnFin is a rebrand of ECN.broker by the same operator.
E3The MISA licence BFX2024038 was issued on 13 March 2024 with an end date of 13 March 2025, so it is expired, yet OnFin still advertises it as current.
StrongGlobeGain broker recordE4An independent review classes MISA as a red-tier authority and states OnFin is generally considered an unregulated broker with no guarantees on client funds and no compensation scheme.
Strongdaytrading.com reviewE5OnFin own licence page and footer present the expired MISA licence BFX2024038 as the current company registration and licensing certificate, while the copyright reads 2024 to 2026 and the About page claims a 2015 founding.
E6Trustpilot has suspended OnFin rating for a breach of guidelines and states it removed a number of fake reviews; the distribution is bimodal at 41 percent five-star and 38 percent one-star.
StrongTrustpilot (onfin.io)E7Trustpilot fund-access complaints include a trader describing more than 45,000 USD removed through ledger entries labelled Service after a profit withdrawal request, plus multi-week withdrawal delays.
StrongTrustpilot (onfin.io)E8The predecessor ECN.broker Trustpilot page shows severe no-withdrawal complaints, including one person reporting a group of 30 with 300,000 USD unable to withdraw and another waiting more than 40 days for 38,000 USD.
StrongTrustpilot (ecn.broker)E9Some reviews report tight spreads, no deposit or withdrawal fees and withdrawals that were paid, the company replies to complaints, and a real MetaTrader live server exists, so a genuine trading operation is running.
ModerateTrustpilot and MyFxBookE10A sweep of the major regulator warning lists (IOSCO, FCA, CySEC, BaFin, CONSOB) found no alert naming onfin.io as of the time of writing.
WeakRegulator warning-list sweepE11A third-party broker directory lists the website as onfin.io, records the MetaTrader server OnFin-Live, finds no valid forex trading licence, and classes the broker as high risk.
ModerateA third-party broker directoryE12The Seychelles Financial Services Authority capital-markets register lists no securities-dealer licence for OnFin or ECN, confirming the predecessor Seychelles presence was a company registration rather than financial regulation.
ModerateSeychelles FSA register
The other side
The strongest case in this broker’s favour.
In fairness, some points cut the other way, and we weighed them.
- OnFin runs a real trading operation with its own MetaTrader 4 and 5 servers, not a pure empty front.
- Some customers report tight spreads, no deposit or withdrawal fees, and withdrawals that were paid, and the company does reply to complaints in public.
- The predecessor brand had existed since around 2016, so there is a genuine operating lineage behind the newer name, even if the current company is young.
- We did not find OnFin on any major regulator warning list, so no authority has yet named the exact website.
- Offshore licensing and aggressive marketing are, on their own, a high-risk profile rather than proof of theft; the concern here is the combination with the withdrawal pattern and the expired, disavowed licence.
What would change this
What we would need to see to revise the verdict.
Here is what would move this verdict in either direction.
- A current, in-force licence from a recognised regulator (for example the FCA, ASIC or CySEC), with the onfin.io domain listed on that regulator own register, would sharply lower the risk.
- Clear, consistent evidence that withdrawals are now paid in full and on time, across many independent users over a sustained period, would help.
- In the other direction, a warning or enforcement action from any national regulator naming onfin.io, or a chargeback or court record, would push this toward a confirmed verdict.
- Proof that the MISA licence was renewed and is genuinely current would not make the broker safe, because MISA itself is disavowed, but it would remove the expired-licence finding.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
OnFin official website
The broker own site, legal documents and the licence it relies on.
Trustpilot reviews of onfin.io
Independent customer reviews; the rating is currently suspended after fake reviews were removed.
Independent OnFin review
Third-party assessment describing MISA as a red-tier authority and OnFin as unregulated.
Third-party licence record
Records the MISA licence as issued 13 March 2024 with an end date of 13 March 2025.
Frequently asked questions
Quick answers about this broker’s safety.
Is OnFin a scam?
We assess OnFin as a high-risk, likely scam. Its only regulatory claim is an expired licence from a body with no real authority, and clients on several platforms report being unable to withdraw their money. Treat it as unsafe for deposits.
Is OnFin a fraud?
No court or regulator has ruled that OnFin commits fraud, so we do not state that as a fact. What we can say is that clients report deposits taken and withdrawals then delayed or denied, and that the firm advertises an expired, disavowed licence as current. On that record we assess the risk of fraud as high.
Is OnFin regulated?
Not in any meaningful way. Its only claim is a Mwali (MISA) licence that, by its own recorded end date, expired on 13 March 2025. MISA is an offshore registrar the Central Bank of the Comoros has disavowed, and no recognised regulator oversees OnFin.
Can I withdraw my money from OnFin?
Many users report serious difficulty. Complaints describe withdrawals delayed for two to three weeks, and one trader describes a balance of more than 45,000 USD being removed after a profit withdrawal request. The predecessor brand drew even heavier cannot-withdraw reports.
Is my money safe with OnFin?
There is no evidence that it is. The firm holds no recognised licence, there is no compensation scheme, and there is no sign that client funds are segregated or protected. If OnFin refuses to pay, there is no regulator standing behind your deposit.
Who is behind OnFin?
The site names OnFin Ltd, a Comoros IBC (number HT00224026). It is the same operation as the former ECN.broker. The real owners are not disclosed, and the operation appears to be run from the CIS region while incorporated offshore.
How old is OnFin?
The OnFin company, the onfin.io domain and the site copyright all date to 2024, so the current operation is about two years old. The brand lineage, through the earlier ECN.broker, goes back to about 2016. The advertised 2015 founding is not supported by what we could verify.
What is MISA and is its licence worth anything?
MISA is the Mwali International Services Authority, a registrar on an autonomous island of the Comoros. The Central Bank of the Comoros has said it has no authority to license financial firms. A MISA licence gives almost no protection to clients, and OnFin version has expired in any case.
Is OnFin a clone of another broker?
No. OnFin is not impersonating a well-known regulated firm. It is its own brand, a rebrand of the earlier ECN.broker. The concern here is weak and expired regulation plus withdrawal complaints, not identity theft of another company.
OnFin advertises an ECN account, zero pip spreads and 1:3000 leverage. Does that make it safe?
No. Attractive trading conditions and marketing labels are not the same as regulation or fund safety. Very high leverage such as 1:3000 actually increases your risk of rapid loss. None of these features protect your deposit if withdrawals are refused.
What should I check before depositing with any broker?
Confirm the broker holds a current licence from a recognised regulator and that the exact website is listed on that regulator own register. Search for withdrawal complaints, check national warning lists, and confirm which legal entity will hold your money and where it is based.
What do I do if I was scammed by OnFin?
Gather all records, then request a full withdrawal in writing. If it is refused, raise a chargeback with your card issuer or bank, and report OnFin to your national financial regulator and the police. Avoid any service that offers to recover your funds for an upfront fee, as that is usually a second scam.
What we recommend
The practical takeaway from everything above.
Our advice for anyone considering OnFin.
- Treat this as a high-risk, likely-scam broker and do not deposit funds you cannot afford to lose.
- If you already have money with OnFin, request a full withdrawal now and keep written records of every request and reply.
- Do not pay any extra fee, tax or deposit that you are told is needed to release a withdrawal. Legitimate brokers do not work that way.
- If a withdrawal is refused, complain in writing, raise a chargeback with your card issuer or bank, and report the matter to your national financial regulator and the police.
- Be wary of anyone who later offers to recover your funds for an upfront fee; that is a common follow-up scam.
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 10, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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