Wikilix
Contract reading

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

Every clause below is published by STOICFX 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: STOICFX (PTY) LTD

sole discretionwithdrawalscost disclosurehidden feekyc freezedata sharingdeemed acceptancedisclosuredocument conflictintroducing broker

StoicFX promises in clause 8.10 that you cannot lose more than your deposit. Its own 10X account page says negative balance protection is not offered. Its marketing promises segregated funds at top-tier banks, while the risk disclosure allows an omnibus account at a third party. No clause gives StoicFX a deadline to pay your withdrawal, and clause 9.3 lets it bar transactions for no reason. Every legal document is in English only, on a site translated into six other languages.

Back to STOICFX

Contract risk

Money at risk
7.0/10

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.
5
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
27
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.
16

How the 27 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.

Critical5
Warning18
Notice4

section 23 of 24is where the deepest clause sits, 96% 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.

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

Critical500In the contract. Jump to the clause this comes from.Loss protection the contract promises and the website denies$5000Bonus requirement. Jump to the clause this comes from.Nothing in the agreement mentions the 10X trading credit2Withdrawal limit. Jump to the clause this comes from.A withdrawal must leave twice your used margin behind39Account limit. Jump to the clause this comes from.The barred country list grew shorter and can grow again

What the documents say

27 clauses worth knowing about, worst first, each quoted from STOICFX's own files

01

You cannot lose more than your deposit, says clause 8.10 of the agreement. The 10X account page says the opposite: negative balance protection is not offered.

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

StoicFX lets you trade at up to 1:500 leverage, so one gap can push an account below zero. Its safety page then tells you to settle any deficit before it will process a withdrawal.

Exhibit 1CriticalRarely seen500

STOICFX maintains the negative balance protection stated in this Agreement: the Client cannot lose more than their overall invested capital (deposit).
Clause 8.10 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference
Our own capture of stoicfx.com, taken on Oct 11, 2026The claim, on 10X account page, Risk Management Rules sectionVisit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026What the contract says, clause 8.10Visit this page on the broker's siteDownload the full size image file
Our own capture of help.stoicfx.com, taken on Oct 11, 2026The claim, on Help centre article, How StoicFX 10X Accounts Work, Key TakeawaysVisit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026What the contract says, clause ABNORMAL MARKET CONDITIONSVisit this page on the broker's siteDownload the full size image file

Where it sits: section 92 of 185 in the Customer Service Agreement, Terms of Use, 50% of the way through.

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

Firms licensed by the FCA or under ESMA rules must give retail clients negative balance protection and cap major currency leverage at 1:30. STOICFX offers up to 1:500 and its 10X page says the protection is not offered.

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

  • Worse together with Exhibit 6The account that loses the protection is also the one whose rules appear nowhere in the agreement.
02

StoicFX advertises segregated client funds at top-tier banks. Its risk disclosure says your money goes to a third party instead. That firm may pool it in an omnibus account, where it may be impossible to separate from the firm's own money.

Why this matters

If that third party fails, StoicFX says it has only an unsecured claim for you and accepts no liability for the loss. Your deposit then rests with a firm you never contracted with.

Exhibit 2CriticalHarder than usual

The third party to whom the STOICFX (PTY) LTD transfers money may hold it in an omnibus account, and it may not be possible to separate it from the Client's money, or the third party's money.
Clause THIRD PARTY RISKS in Risk Disclosure Policy
Read from the broker's site on Open the reference
Our own capture of stoicfx.com, taken on Oct 11, 2026The claim, on Arabic safety page, under the heading Segregated client fundsVisit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026What the contract says, clause THIRD PARTY RISKSVisit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026The claim, on Safety page FAQ, answer to what happens if StoicFX becomes insolventThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026What the contract says, clause INSOLVENCYVisit this page on the broker's siteDownload the full size image file

Where it sits: section 23 of 75 in the Risk Disclosure Policy, 31% of the way through.

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

Firms licensed by the FCA or CySEC must hold retail client money in segregated accounts and name where it is held. Both regimes also back retail claims with a compensation scheme. STOICFX names no compensation scheme in any document we read, and its risk disclosure allows an omnibus account at a third party.

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

  • Worse together with Exhibit 12The money leaves South Africa for a Mauritius execution firm and a Cyprus payment company, and the risk clause disclaims responsibility for both.
03

Nothing in this agreement gives StoicFX a deadline to pay you. Clause 5.6 says it does not guarantee a fixed processing time. Clause 5.8 lets it suspend your payment processing while it runs checks, with no limit on how long.

Why this matters

Your withdrawal can sit in review for as long as StoicFX wants. No clause gives you a date by which it must pay.

Exhibit 3CriticalHarder than usual

Processing times depend on the payment method, network conditions, verification requirements and the relevant provider. STOICFX does not guarantee a fixed processing time.
Clause 5.6 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference
Our own capture of stoicfx.com, taken on Oct 11, 2026No deadline on a withdrawal, and holds with no time limit (clause 5.6)Visit this page on the broker's siteDownload the full size image file

Buried at section 125 of 185 in the Customer Service Agreement, Terms of Use, 68% of the way through.

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

Firms licensed by the FCA or CySEC must handle a retail withdrawal request promptly and keep client money available on demand. This agreement sets no time by which STOICFX must pay.

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

  • Worse together with Exhibit 4A hold with no deadline sits beside a power to bar transactions for no reason, and neither clause requires an explanation.
04

StoicFX can bar your transactions or end your relationship for any reason, or for no reason, at any time. That power sits in clause 9.3, inside the money laundering section rather than the closure section.

Why this matters

You get no stated grounds to challenge. Clause 11.3 says the decision can rest on confidential criteria, and clause 11.4 says StoicFX need not explain them to you.

Exhibit 4CriticalHarder than usual

STOICFX reserves the right to refuse registration to and/or to bar transactions from and/or to or terminate any relationship with any Client for any reason (or for no reason) at any time.
Clause 9.3 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference
Our own capture of stoicfx.com, taken on Oct 11, 2026The broker can end the relationship for no reason at all (clause 9.3)Visit this page on the broker's siteDownload the full size image file

Buried at section 130 of 185 in the Customer Service Agreement, Terms of Use, 70% of the way through.

05

StoicFX runs its site in seven languages, including Arabic, Chinese and Spanish. Open the agreement on any of them and the clauses stay in English, under a translated heading.

Why this matters

You tick a single box to accept the Customer Agreement and the Risk Disclosure. If Arabic or Chinese is your language, both are still in English.

Exhibit 5CriticalHarder than usual7

By registering an account and accepting these Terms, you agree to be bound by this Agreement.
Clause 1.3 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference
Our own capture of stoicfx.com, taken on Oct 11, 2026The claim, on Arabic version of the Terms page, document title above the clausesVisit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026What the contract says, clause 1.1Visit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026Six translated sites, one English only contract (clause 1.3)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 3 of 185 in the Customer Service Agreement, Terms of Use, near the start.

  • Worse together with Exhibit 19The form that binds you links none of the documents, and the documents it names are in a language the localised site does not use.
06

StoicFX sells a 10X account where it adds trading credit to your deposit. The agreement you sign never mentions trading credit, and no credit terms are published with the legal documents.

Why this matters

The rules that cap your loss, remove the credit and close the account live only on a web page. Clause 10.2 says you rely on that site at your own responsibility, and StoicFX accepts no liability for it.

Exhibit 6WarningRarely seen$5000

Any applicable bonus reduction is governed by the accepted terms of that bonus.
Clause 8.17.3 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference
Our own capture of stoicfx.com, taken on Oct 11, 2026Nothing in the agreement mentions the 10X trading credit (clause 8.17.3)Visit this page on the broker's siteDownload the full size image file

Buried at section 127 of 185 in the Customer Service Agreement, Terms of Use, 69% of the way through.

  • Same clause as Exhibit 7Clause 10.2 disclaims the same website that holds both the credit rules and every fee amount.

Not one fee amount appears in the StoicFX agreement

The StoicFX agreement names no spread, no commission and no conversion fee. It points you to the website, the platform and the payment company's own terms instead. The May version printed a rollover formula and an eight second execution ceiling, and the October version replaced both with a pointer.

Cost disclosure3 clauses flagged

No fee amount appears anywhere in the StoicFX agreement. It says you pay the spreads, commissions and financing charges disclosed on the website, platform or payment instructions, and those can change.

Why this matters

You cannot price a trade from the contract. The markets page leaves the spread blank for most instruments, and no Pro account commission figure is published anywhere we read.

Exhibit 7WarningHarder than usual

You shall pay the applicable spreads, commissions, financing charges and other fees disclosed in the website, platform, account specifications or payment instructions.
Clause 6.1 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference
Our own capture of stoicfx.com, taken on Oct 11, 2026The claim, on Arabic safety page, under the heading Operational transparencyVisit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026What the contract says, clause GENERAL RISKVisit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026The claim, on Safety page, Operational Transparency panelThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026What the contract says, clause 6.1Visit this page on the broker's siteDownload the full size image file

Where it sits: section 30 of 185 in the Customer Service Agreement, Terms of Use, near the start.

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

Firms licensed by the FCA or CySEC must disclose costs and charges to a retail client before that client trades. This agreement states no amount and makes keeping up with changes the client's responsibility.

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

Deposit in pesos, reais or another local currency and a conversion fee may apply to your money. The agreement says so at clause 7.5.1. The Latin America funding guide says only that the money is converted at the prevailing rate.

Why this matters

No percentage is published, so you cannot work out what a deposit costs before you send it. The fee belongs to the payment company, under terms StoicFX does not link.

Exhibit 8WarningHarder than usual

Where a currency conversion is required for a deposit, withdrawal or account transaction, the applicable conversion service may attract a conversion fee.
Clause 7.5.1 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference
Our own capture of stoicfx.com, taken on Oct 11, 2026The claim, on Latin America funding guide, Key TakeawaysVisit this page on the broker's siteDownload the full size image file
Our own capture of stoicfx.com, taken on Oct 11, 2026What the contract says, clause 7.5.1Visit this page on the broker's siteDownload the full size image file

Where it sits: section 54 of 185 in the Customer Service Agreement, Terms of Use, 29% of the way through.

The May agreement gave you an eight second execution ceiling, a 21:00 GMT rollover time and the rollover formula with worked examples. The October agreement replaced all three with a pointer to the platform.

Why this matters

You can no longer check an overnight charge or a slow fill against the contract. The specifications it points to sit on the platform, which clause 10.1 says may be inaccurate.

Exhibit 23WarningHarder than usual

The applicable rate, calculation method, timing and any commission are specified in the relevant platform or account and instrument specifications.
Clause 6.5 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 34 of 185 in the Customer Service Agreement, Terms of Use, near the start.

Every StoicFX withdrawal is a review with no deadline on it

Clause 5.6 says StoicFX does not guarantee a fixed processing time for your money. Clause 5.8 lets it suspend payment processing while it runs checks, with no outer limit. A withdrawal must also leave twice your used margin behind, and an approved refund can take 30 days.

Exit conditions2 clauses flagged

Your realised balance after a withdrawal must be at least twice the margin your open positions use. Clause 8.17.3 makes that a condition of the request going ahead.

Why this matters

To take money out you may have to close positions first. On a 10X account, taking any part of your deposit also removes the trading credit and ends the account.

Exhibit 13WarningHarder than usual2

The realized balance remaining after withdrawal must be at least twice the used margin, as required under this Agreement.
Clause 8.17.3 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Buried at section 127 of 185 in the Customer Service Agreement, Terms of Use, 69% of the way through.

  • Worse together with Exhibit 3A request that clears the margin test still has no deadline attached to it.

An approved refund takes up to 30 days to process, after a review of up to five business days. Nothing arising from trading can be refunded.

Why this matters

If you deposit and then cannot trade, the only route back is a refund request StoicFX decides on. It can refuse one for a breach of the customer agreement.

Exhibit 20NoticeHarder than usual30 days

If your refund request is approved, the processing of the refund will typically be completed within thirty (30) days.
Clause 3.3 in Refunds & Returns Policy
Read from the broker's site on Archived copyOpen the reference

Where it sits: section 10 of 23 in the Refunds & Returns Policy, 43% 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
RequestYou email customer support to start a refund request.3.1
Within 5 business daysStoicFX reviews the request and responds on its status.3.2
Within 30 daysAn approved refund is processed, with more time for your bank.3.3

Profit from a trade StoicFX calls abusive can be reversed

Clause 8.12 lets StoicFX reverse profit directly attributable to a trade it identifies as abusive. The agreement does not define bad faith. It does limit a reversal to the identified trade, and says opposing positions alone do not prove abuse.

Profit reversal1 clause flagged

If StoicFX decides a trade was abusive, it can reverse the profit that came from it. The agreement does not define bad faith, and names sniping as an example of it.

Why this matters

A profit you have already banked can be taken back. The clause limits a reversal to the identified trade. It also says holding opposing positions alone does not prove abuse.

Exhibit 22WarningStandard wording

facilitating reversal of profits directly attributable to an identified abusive transaction, supported by the relevant execution records and applicable conditions;
Clause 8.12 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 108 of 185 in the Customer Service Agreement, Terms of Use, 58% of the way through.

  • Worse together with Exhibit 4A reversal can be followed by termination under a clause that needs no reason and no explanation.

StoicFX can end the relationship for no reason and need not explain

Clause 9.3 lets StoicFX bar transactions or end any client relationship for any reason, or for no reason, at any time. Clause 11.4 says it need not disclose the criteria it used. The agreement also bars residents of 39 jurisdictions, while the registration form offers all of them.

Exit at will3 clauses flagged

StoicFX markets swap-free Islamic accounts with no overnight charges. If it suspects you are abusing the swap-free status, clause 7.4 lets it add commission to every trade without telling you first.

Why this matters

It can also stop you hedging, or turn the account back into a normal one. Its decision to refuse swap-free status is conclusive and, the clause says, cannot be disputed by you.

Exhibit 11WarningHarder than usual

In the event that the Company suspects that a Client is abusing the rights conferred to them by the classification of the account as Islamic Account, the Company has the right, without prior notice, to proceed with one or more of the following:
Clause 7.4 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 48 of 185 in the Customer Service Agreement, Terms of Use, 26% of the way through.

StoicFX bars residents of 39 named jurisdictions, including the United States, Japan, Singapore and Australia. The registration form still offers every one of them in its country list.

Why this matters

Clause 2.2.2 says the list is not exhaustive and your eligibility is tested against the restrictions applying at the time. A country added later can end your service.

Exhibit 16WarningHarder than usual39New

The information and Services are not intended for distribution to, or use by, any person or entity in any jurisdiction where doing so would violate applicable laws or regulations. Restricted jurisdictions include the following:
Clause 2.2.1 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 12 of 185 in the Customer Service Agreement, Terms of Use, near the start.

StoicFX can suspend or close your account if it decides you are getting around its controls, which includes opening more than one account. Its affiliate agreement treats a shared IP address, payment method or device as the test for a duplicate account.

Why this matters

Two people in one household trading from one connection meet that test. The agreement gives you no stated way to show that you are two different people.

Exhibit 27WarningHarder than usual

Be duplicate accounts, including shared IP address, payment method, or device fingerprinting with another client or IB;
Clause 6.5 in Affiliate Terms and Conditions, Introducing Broker Agreement
Downloaded from the broker's site on Open the reference

The risk disclosure drops liability the agreement says it keeps

The StoicFX risk disclosure accepts no liability for a third party holding your money, and none for platform failures. Clause 16.3 of the agreement says liability that cannot lawfully be excluded is not excluded. Clause 8.4 lets StoicFX act on any instruction carrying your account number and password.

Who carries the loss3 clauses flagged

The risk disclosure says StoicFX accepts no liability for losses caused by a third party holding your money. The agreement, rewritten later, says it does not exclude liability that the law will not let it exclude.

Why this matters

You are reading two documents that answer the same question differently. The older one is the one the agreement tells you to read before you trade.

Exhibit 14WarningHarder than usual

STOICFX (PTY) LTD disclaims any liability for losses arising from these failures.
Clause TECHNICAL RISKS in Risk Disclosure Policy
Read from the broker's site on Open the reference

Where it sits: section 31 of 75 in the Risk Disclosure Policy, 41% of the way through.

  • Worse together with Exhibit 2The liability the risk disclosure disclaims is exactly the liability for the firm holding your deposit.

StoicFX can act on instructions that only purport to come from you, as long as they carry your account number and password. Clause 8.4 then takes no responsibility for what follows.

Why this matters

If someone takes your password and trades, the contract puts the loss on you. Clause 16.3 still preserves any liability the law will not let StoicFX exclude.

Exhibit 15WarningStandard wording

We shall be entitled to act for you upon instructions given or purporting to be given by you or any person authorized on your behalf without further enquiry as to the genuineness, authority or identity of the person giving or purporting to give such instructions provided such instruction is accompanied by your correct Account number and password.
Clause 8.4 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 77 of 185 in the Customer Service Agreement, Terms of Use, 42% of the way through.

One checkbox on the registration form says you have read and accept five documents, including the Customer Agreement and the Risk Disclosure. The form links none of them.

Why this matters

Clause 1.3 binds you to the agreement the moment you register. Finding it means leaving the form and hunting through the website footer.

Exhibit 19NoticeHarder than usual5

By registering an account and accepting these Terms, you agree to be bound by this Agreement.
Clause 1.3 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 3 of 185 in the Customer Service Agreement, Terms of Use, near the start.

You contract with one company and your money passes through three

STOICFX (PTY) LTD in South Africa holds the contract. STARPRIME in Mauritius executes your orders, and VALORIS SOLUTIONS LIMITED in Cyprus handles your payments. Clause 8.3.5 says you get no direct contract with the firm that executes your trades.

Three countries1 clause flagged

You contract with STOICFX (PTY) LTD in South Africa. Your orders are executed by STARPRIME in Mauritius, and your payments run through VALORIS SOLUTIONS LIMITED in Cyprus.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

Clause 8.3.5 says this agreement gives you no direct contract with the firm that executes your trades. Disputes go to a court in KwaZulu-Natal, South Africa.

Exhibit 12WarningHarder than usualNew

STARTRADER Financial Markets Limited, operating as STARPRIME, acts as STOICFX’s institutional liquidity provider.
Clause 8.3.2 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 72 of 185 in the Customer Service Agreement, Terms of Use, 39% of the way through.

Verification is called one time, and can reopen when you withdraw

StoicFX tells Latin American clients that verification is a one-time requirement. Clause 7.1 lets it ask for documents during ongoing monitoring, and clause 8.17.2 lets incomplete checks delay your withdrawal. Clause 4.3 also lets it query your bank account balance.

Document demands4 clauses flagged

The affiliate who referred you gets access to all your data and trades. Their agreement asks them to tell you, and makes it an effort rather than a duty.

Why this matters

The privacy policy says StoicFX shares nothing with a third party without your explicit consent. The affiliate is another client of the same broker, and nobody asked you.

Exhibit 10WarningRarely seen

The IB acknowledges access to all data and trades conducted by Referrals that utilize the IB's unique Referral Link. To this effect, the IB endeavours to inform his/her Referrals of this procedure.
Clause 3.6 in Affiliate Terms and Conditions, Introducing Broker Agreement
Downloaded from the broker's site on Open the reference

Where it sits: section 25 of 78 in the Affiliate Terms and Conditions, Introducing Broker Agreement, 32% of the way through.

  • Worse together with Exhibit 9The same affiliate who is paid from your trading costs can also watch what you trade.

The funding guide tells you verification is a one-time requirement. The agreement lets StoicFX ask for documents during ongoing monitoring, and clause 8.17.2 lets incomplete checks delay your withdrawal.

Why this matters

A request for new documents can arrive when you ask for your money, not when you deposit it. Clause 4.3 also lets StoicFX query your bank account balance.

Exhibit 17WarningStandard wording

You must promptly notify STOICFX of changes to information supplied and provide updated documents when reasonably requested.
Clause 7.1 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 45 of 185 in the Customer Service Agreement, Terms of Use, near the start.

StoicFX can decline to credit your payment, or ask the payment company to return it, once you deposit R25,000 or more. More than ten separate deposits triggers the same power.

Why this matters

Your money can be routed back to its source while you expected to be trading. The same clause covers a chargeback risk StoicFX perceives, with no test stated for it.

Exhibit 24WarningHarder than usual10

when you deposit twenty-five thousand ZAR (R25,000.00) or more, or you if make over ten (10) separate deposits to your Account(s) and/or STOICFX (PTY) LTD is unable to verify your credit or debit card details or is unable to verify any other payment method used.
Clause 8.14.1 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Buried at section 120 of 185 in the Customer Service Agreement, Terms of Use, 65% of the way through.

StoicFX can share your information with STARPRIME in Mauritius and VALORIS in Cyprus, under clause 7.1. The privacy policy and the PAIA manual never mention a transfer outside South Africa.

Why this matters

The PAIA manual lists who may receive your data as the police, the qualifications authority and credit bureaus. Two foreign companies are not on that list.

Exhibit 21NoticeHarder than usual

Relevant information may be shared on a need-to-know basis with STARPRIME, VALORIS, other service providers and competent authorities, including the FSCA, where necessary and lawful.
Clause 7.1 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 25 of 78 in the Customer Service Agreement, Terms of Use, 32% of the way through.

An affiliate can earn $4 for every lot you trade

StoicFX pays affiliates $4 per lot across five tiers, and clause 6.4 says partner payments may affect what your account costs. Its conflicts of interest policy names neither the firm that executes your orders nor the related company that moves your money.

Who gets paid2 clauses flagged

StoicFX pays an affiliate $4 per lot you trade, shared across five tiers of affiliates above you. Clause 6.4 says this partner payment may affect what your account costs.

In plain words

Remuneration means payments it receives.

Why this matters

Your spread and commission fund that payment. Nothing tells you whether the account you opened through a referral link costs more than the same account opened directly.

Exhibit 9WarningStandard wording$4

Partners are receiving remuneration on the basis of a percentage of the spread, a fixed fee and/or based on any other method agreed with them, which may affect the costs associated with your Account.
Clause 6.4 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Where it sits: section 33 of 185 in the Customer Service Agreement, Terms of Use, near the start.

StoicFX routes every order through one liquidity provider and every payment through a related company. Its conflicts of interest policy names neither, and says it holds no ownership interest in any third-party company.

Why this matters

The FAIS disclosure asks whether StoicFX holds over 10% of a product supplier. It also asks whether one supplier provides over 30% of its income. Both answers are left blank.

Exhibit 18WarningHarder than usual

Does the FSP hold more than ten percent (10%) of the Product Supplier’s shares and/or has any equivalent substantial financial interest in the Product Supplier?
Clause 13 in FAIS Disclosure Document, p.8
Read from the broker's site on Archived copyOpen the reference

Buried at section 23 of 24 in the FAIS Disclosure Document, 96% of the way through.

Set against a regulated standard: FSCA (South Africa)

Firms licensed by the FSCA must give a client a disclosure document that records any ownership interest in a product supplier, and whether more than 30% of the firm's income came from one supplier in the past year. In this document both fields are empty, and the conflicts policy does not name the liquidity provider.

STOICFX is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

StoicFX sells two products its legal documents never mention

StoicFX publishes nine legal documents under an FSCA licence it states as FSP 53079. None of them covers the 10X trading credit or copy trading, both of which it sells today. Three current documents give three different physical addresses for the company.

Document set2 clauses flagged

StoicFX lets a strategy manager trade your account through its copy trading page. No copy trading terms appear among its legal documents.

Why this matters

The agreement treats every order as your own decision, taken on your own judgment. It says nothing about a manager placing those orders for you.

Exhibit 25WarningHarder than usual

When instructing STOICFX to transmit an order, you confirm that you have independently assessed the transaction and its risks, taking account of your knowledge, experience, financial circumstances and any independent advice obtained.
Clause 13.2 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Buried at section 152 of 185 in the Customer Service Agreement, Terms of Use, 82% of the way through.

The agreement puts StoicFX in Ballito. The FAIS disclosure gives an address in Durban, and the privacy policy gives one in Pretoria.

Why this matters

The complaints procedure asks you to post a written complaint. The documents do not agree on where StoicFX is, and the FAIS disclosure is the one the regulator's code requires.

Exhibit 26NoticeHarder than usual

STOICFX’s registered address is Office 222, 2nd Floor, Ingenuity Park, 3 Nandi Mthembu Drive, Ballito, KwaZulu-Natal, 4420, South Africa.
Clause 20.2 in Customer Service Agreement, Terms of Use
Read from the broker's site on Open the reference

Buried at section 174 of 185 in the Customer Service Agreement, Terms of Use, 94% of the way through.

Where the marketing and the contract disagree

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

01

The product page withdraws the loss protection the client agreement grants with no carve-out.

Said in public, in English

The account is designed to cap losses at your deposit. In fast markets, slippage on closing fills can cause losses to exceed that amount. Negative balance protection is not offered.

10X account page, Risk Management Rules section

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

In the contract · clause 8.10

STOICFX maintains the negative balance protection stated in this Agreement: the Client cannot lose more than their overall invested capital (deposit).

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

02

The Arabic page tells the client to settle a deficit, while the English only agreement says no deficit can arise.

Said in public, in Arabic

في ظروف السوق العادية، الخسائر محدودة برصيد حسابك. في حالات التقلب الشديد أو الفجوات السعرية، قد يؤدي الانزلاق إلى رصيد سلبي مؤقت. أي عجز يجب تسويته قبل معالجة عمليات السحب.

Word for word in English: Under normal market conditions, losses are limited to your account balance. In cases of extreme volatility or price gaps, slippage may lead to a temporary negative balance. Any deficit must be settled before withdrawals are processed.

Arabic safety page, under the heading How your capital is protected

In the contract · clause 8.10

STOICFX maintains the negative balance protection stated in this Agreement: the Client cannot lose more than their overall invested capital (deposit).

03

The help centre calls the loss cap absolute, while the risk disclosure says protective orders can fill far from their level.

Said in public, in English

Your risk is always capped at your deposit

Help centre article, How StoicFX 10X Accounts Work, Key Takeaways

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of help.stoicfx.com

In the contract · clause ABNORMAL MARKET CONDITIONS

As a result, there is a heightened risk that Orders intended to protect open positions or to initiate new positions may be executed at prices that are significantly different from the designated levels.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

04

Separate bank accounts are promised in Arabic, while the English only risk disclosure allows a pooled account at another firm.

Said in public, in Arabic

إيداعات العملاء محفوظة في حسابات بنكية منفصلة عن أموال تشغيل StoicFX. هذه الأموال لا تُستخدم لمصروفات الشركة وتبقى محمية وفقاً للمتطلبات التنظيمية.

Word for word in English: Client deposits are kept in bank accounts separate from StoicFX's operating funds. These funds are not used for company expenses and remain protected in line with regulatory requirements.

Arabic safety page, under the heading Segregated client funds

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

In the contract · clause THIRD PARTY RISKS

The third party to whom the STOICFX (PTY) LTD transfers money may hold it in an omnibus account, and it may not be possible to separate it from the Client's money, or the third party's money.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

05

The FAQ answers insolvency with regulatory procedure; the risk disclosure answers it with funds that may not be fully recoverable.

Said in public, in English

Segregated client funds are legally separated from corporate assets. In the event of insolvency, client funds are handled according to regulatory procedures.

Safety page FAQ, answer to what happens if StoicFX becomes insolvent

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

In the contract · clause INSOLVENCY

It is important to recognize that any remaining funds in the Client's account may not be fully recoverable, and the Client could face difficulties in reclaiming their assets.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

06

The document is titled in Arabic and written in English, on every one of the six translated sites.

Said in public, in Arabic

اتفاقية خدمة العملاء

Word for word in English: Customer Service Agreement

Arabic version of the Terms page, document title above the clauses

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

In the contract · clause 1.1

This Client Service Agreement (the “Agreement” or “Terms”) is between the client (“Client” or “you”) and STOICFX (PTY) LTD, trading as STOICFX (“STOICFX”, “Company”, “we” or “us”).

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

07

A rule that cancels the credit appears only on the product page, while the agreement defers to bonus terms it never publishes.

Said in public, in English

Withdrawing any part of your original deposit removes the trading credit and ends the 10X account. To use the 10X structure again, you must request a new 10X account.

10X account page, Profit Withdrawals section

In the contract · clause 8.17.3

Any applicable bonus reduction is governed by the accepted terms of that bonus.

08

Disclosure before account opening is promised, while the risk disclosure lets charges change at any time and puts the checking on you.

Said in public, in Arabic

الرسوم والسبريد وشروط التداول يتم الإفصاح عنها قبل فتح الحساب.

Word for word in English: Fees, spreads and trading conditions are disclosed before opening an account.

Arabic safety page, under the heading Operational transparency

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

In the contract · clause GENERAL RISK

You acknowledge and understand that commissions and other charges may change at any time and that is your sole responsibility to remain up to date by visiting https://stoicfx.com/ and related site(s).

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

09

The agreement states no fee amount at all and defers to pages where most spreads are blank.

Said in public, in English

Fees, spreads, and trading conditions are disclosed prior to account opening.

Safety page, Operational Transparency panel

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

In the contract · clause 6.1

You shall pay the applicable spreads, commissions, financing charges and other fees disclosed in the website, platform, account specifications or payment instructions.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

10

The funding guide names a rate and no fee, while the agreement allows a conversion fee on the same deposit.

Said in public, in English

Your account is denominated in USD; deposits in local currencies are converted at the prevailing rate.

Latin America funding guide, Key Takeaways

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

In the contract · clause 7.5.1

Where a currency conversion is required for a deposit, withdrawal or account transaction, the applicable conversion service may attract a conversion fee.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of stoicfx.com

11

No sharing without explicit consent is promised, while the affiliate agreement hands an affiliate all of a referred client's trades.

Said in public, in English

We will not share an individual's information with any third parties without obtaining explicit consent, except where required by law for any legitimate purposes.

Privacy and POPI Policy, clause 3.3

In the contract · clause 3.6

The IB acknowledges access to all data and trades conducted by Referrals that utilize the IB's unique Referral Link. To this effect, the IB endeavours to inform his/her Referrals of this procedure.

12

The page promises no charges at all, while the clause allows commission on every trade on suspicion and without notice.

Said in public, in English

No overnight charges. Period.

Swap-free trading page, closing section

In the contract · clause 7.4

The Company may add commission upon each and every one of the Transactions executed on the Islamic Account; and/or

13

The footer names four countries and India, while clause 2.2.1 bars 39 jurisdictions and never mentions India.

Said in public, in English

Regional Restrictions: This information on this website is not intended for distribution to, or use by, any person or entity who is a citizen or resident of certain jurisdictions, including, but not limited to, the United States, Russia, India, Singapore, and jurisdictions listed on the FATF "blacklist", and the major global sanctions lists.

Regional Restrictions notice in the footer of every page

In the contract · clause 2.2.1

Afghanistan, Algeria, American Samoa, Angola, Australia, Cambodia, Canada, Crimea region of Ukraine, Cuba, Democratic People’s Republic of Korea (DPRK), Donetsk, Guam, Hong Kong, Indonesia, Iran, Iraq, Japan, Lao People’s Democratic Republic, Lebanon, Luhansk, Malaysia, Myanmar, New Zealand, Northern Mariana Islands, Papua New Guinea, Puerto Rico, Russian Federation, Singapore, South Korea, Sudan, Syrian Arab Republic, Taiwan, Uganda, United States of America, United States Virgin Islands, Vanuatu, Vietnam, Yemen, British Virgin Islands.

14

Verification is called one time, while the agreement runs ongoing monitoring and lets an incomplete check hold your payout.

Said in public, in English

Verification is a one-time requirement.

Latin America funding guide, step 2 of the deposit process

In the contract · clause 8.17.2

Incomplete due diligence or a lawful restriction may delay a withdrawal.

15

The form binds you to five documents and links none of them.

Said in public, in English

I have read and ACCEPT the Customer Agreement, Conflict of Interest Policy, Risk Disclosure, Privacy Policy, Complaint and Resolution Procedure

Registration form consent checkbox

In the contract · clause 1.3

By registering an account and accepting these Terms, you agree to be bound by this Agreement.

16

A strategy manager places the trades, while the agreement treats every order as the client's own independent assessment.

Said in public, in English

StoicFX (FSP 53079) is the licensed financial services provider. Strategy managers trade under StoicFX's authorisation and are not separately regulated.

Copy trading page, footnote under the strategy list

In the contract · clause 13.2

When instructing STOICFX to transmit an order, you confirm that you have independently assessed the transaction and its risks, taking account of your knowledge, experience, financial circumstances and any independent advice obtained.

What changed quietly

This is our first reading of STOICFX, so there is no earlier version of this page to compare it against.

  • REWRITTENClause 8.3 · January 2026 (archived 2026-05-11) to October 2026

    StoicFX stopped being the counterparty to your trades and became an intermediary passing them to a firm in Mauritius.

    STOICFX acts solely as an intermediary and does not act as principal or market maker in relation to client transactions. It is not the sole execution venue and does not execute client transactions against its own dealing book.

  • REWRITTENClause 6.3 · January 2026 (archived 2026-05-11) to October 2026

    A related Cyprus company now handles every deposit and payout, under its own payment terms.

    Payments, including applicable fees and payouts, are facilitated by VALORIS SOLUTIONS LIMITED (HE 493875), a related entity of STOICFX (PTY) LTD, with its registered address at Genevis 2, Geneva Court, Flat/Office 301, 3116 Limassol, Cyprus.

  • REMOVEDClause 8.3.1 · January 2026 (archived 2026-05-11) to October 2026

    The execution policy section was deleted, and no execution policy is published in its place.

  • REWRITTENClause 8.13 · January 2026 (archived 2026-05-11) to October 2026

    The clause that forfeited a whole account balance was replaced by one that rules forfeiture out.

    A breach of this approval requirement does not itself cause forfeiture of the Client’s entire account balance.

  • REWRITTENClause 8.11 · January 2026 (archived 2026-05-11) to October 2026

    Silence on a trade confirmation no longer counts as your agreement to it.

    A failure to object immediately does not waive rights that cannot lawfully be excluded.

  • REWRITTENClause 6.1 · January 2026 (archived 2026-05-11) to October 2026

    The promise to tell you before a charge changes now carries exceptions.

    Changes to charges will be communicated before taking effect, except for variable charges linked to market conditions or where an immediate change is permitted under this Agreement and applicable law.

  • REWRITTENClause 7.5.2 · January 2026 (archived 2026-05-11) to October 2026

    A conversion fee that was always shown before you converted is now disclosed where practicable.

    The relevant exchange rate and conversion fee will be disclosed through the platform, payment instructions or the relevant provider’s applicable payment terms before the conversion is authorized, where practicable.

  • REWRITTENClause 8.9 · January 2026 (archived 2026-05-11) to October 2026

    The eight second ceiling on execution became no commitment at all.

    STOICFX does not guarantee a fixed execution time.

  • REWRITTENClause 6.5 · January 2026 (archived 2026-05-11) to October 2026

    A stated rollover time was replaced by a pointer to the platform.

    The applicable rate, calculation method, timing and any commission are specified in the relevant platform or account and instrument specifications.

  • REMOVEDClause 6.6.5 · January 2026 (archived 2026-05-11) to October 2026

    The rollover adjustment formula and its two worked examples are gone from the agreement.

  • REWRITTENClause 2.2.1 · January 2026 (archived 2026-05-11) to October 2026

    Eleven countries left the barred list, including Brazil, China, the Philippines, Thailand and Turkey, and five were added.

    Afghanistan, Algeria, American Samoa, Angola, Australia, Cambodia, Canada, Crimea region of Ukraine, Cuba, Democratic People’s Republic of Korea (DPRK), Donetsk, Guam, Hong Kong, Indonesia, Iran, Iraq, Japan, Lao People’s Democratic Republic, Lebanon, Luhansk, Malaysia, Myanmar, New Zealand, Northern Mariana Islands, Papua New Guinea, Puerto Rico, Russian Federation, Singapore, South Korea, Sudan,

  • ADDEDClause 2.2.3 · January 2026 (archived 2026-05-11) to October 2026

    Hiding where you live is now a breach of the agreement.

    You must not conceal your location or otherwise circumvent these restrictions.

  • REWRITTENClause 8.12 · January 2026 (archived 2026-05-11) to October 2026

    Profit reversal is now limited to one identified trade rather than your whole trading history.

    facilitating reversal of profits directly attributable to an identified abusive transaction, supported by the relevant execution records and applicable conditions;

  • REWRITTENClause 8.17.3 · January 2026 (archived 2026-05-11) to October 2026

    The bonus rule left the agreement for terms that are not published with it.

    Any applicable bonus reduction is governed by the accepted terms of that bonus.

  • REWRITTENClause 1.7 · January 2026 (archived 2026-05-11) to October 2026

    Changes to the agreement now come with notice before they take effect.

    We will notify you of material changes through the website, platform or your registered contact details before they take effect, except where an immediate change is required by law or necessary to address an urgent security or operational risk.

The documents this reading is based on

9 files, all published by STOICFX. 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 STOICFX publishes.

How this reading was done

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

This reading was published on .

Documents
7 of 9downloaded from the broker's site, and 7 read in full
Pages opened
32pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded
Marketing pages
11public pages set against what the contract says
Languages
AR vs ENthe language it advertises in, against the language it contracts in
Position measured
26clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

STOICFX (PTY) LTD

You contract with STOICFX (PTY) LTD, registration number 2022/803033/07, registered at Office 222, 2nd Floor, Ingenuity Park, Ballito, KwaZulu-Natal. Its documents state an FSCA licence, FSP number 53079. Clause 1.4 says it acts solely as an intermediary and is not the principal or market maker for your trades. Clause 8.3.2 names STARTRADER Financial Markets Limited, trading as STARPRIME and regulated in Mauritius, as the firm that executes them, and clause 8.3.5 says you get no direct contract with it. Clause 6.3 puts every payment and payout through VALORIS SOLUTIONS LIMITED (HE 493875) in Limassol, Cyprus, described as a related entity that provides no financial services. The three current documents give three different physical addresses: Ballito in the agreement, Durban in the FAIS disclosure, Pretoria in the privacy policy.

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

The October 2026 rewrite removed real traps. Gone is the clause that forfeited an employee's or associate's entire account balance, and the new clause 8.13.2 rules that forfeiture out. Gone too is the rule that made an unchallenged trade confirmation conclusive and binding on you, along with the unlimited indemnity that preceded clause 15.2. Amendments now carry notice before they take effect. StoicFX publishes a complete FAIS complaints procedure with the FAIS Ombud's contact details and the statutory time limits, which many brokers never do. No document in the set charges an inactivity or dormancy fee. The 10X risk warning, including the sentence that negative balance protection is not offered, is carried in all six translated versions of that page.

The payment terms of VALORIS SOLUTIONS LIMITED govern every deposit and payout, and the agreement does not say where they are published. We could not find them. We read the affiliate agreement as far as its limitation of liability clause, not to the end, and the complaints procedure as far as its final clause on appeals. No earlier copy of the risk disclosure, the refunds policy or the FAIS disclosure exists for comparison, so the version comparison here covers the Terms of Service and the privacy policy only. The rules for the 10X account and every fee amount sit on marketing pages and in the help centre rather than in a legal document, so we quote those pages as the broker's own words. We did not open an account, so the instrument specifications inside the platform, which the agreement leans on for all costs, were not read.

How to check any of this yourself

Every quote above links to the STOICFX 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 STOICFX 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 STOICFX 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 Oct 11, 2026.

If you represent STOICFX 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 STOICFX. Whether its licence is real and current is a separate check on the broker profile.

What traders say about STOICFX

Comments on STOICFX are posted on its profile

Nobody has commented on STOICFX yet. If you have traded with them, your experience helps the next reader decide.

Write the first comment
Back to the STOICFX profile