Overall Score35 / 100The Wikilix trust rating of ToraFX, out of 100, built from the five factors below.Do not trust: a published scam check found it likely a scam, and no licence is in force.Regulation0%Identity67%Client terms26%Trading offer84%Service41%Score last calculated 2026/10/15
Do not trustBelow 35, or a stop sign applied: a confirmed or likely scam, a copied identity, or a regulator warning. Keep your money away.Why: Do not trust: a published scam check found it likely a scam, and no licence is in force.
35 out of 100 · 93% checkedThe share of the record we could verify. What we could not check counts as unknown and pulls the score toward the middle, never down.
Do not trust
High risk
Fair
Good
Excellent
Do not trust: a published scam check found it likely a scam, and no licence is in force.
Capped at 35 · Likely scam
RegulationWhether a financial authority supervises this broker: the licences it holds, whether we verified them on the official register, how strong that regulator is and what protection it gives clients. Worth 35 points of 100.
0Poor
IdentityWho is behind it and for how long: a company registration we verified, years of verified history, how openly it names its entity, address and owners, and whether its website is intact. Worth 15 points.
67Good
Client termsHow fair the client agreement is: the risk found in our policy review, the number of critical clauses, withdrawal rules, and whether the terms say the same in every language. Worth 15 points.
26Poor
Trading offerWhat trading costs and how clearly it is disclosed: pricing per account type, the all-in cost of EURUSD, instruments, platforms, leverage against regulated limits and the minimum deposit. Worth 20 points.
84Excellent
ServiceHow clients are treated: support channels, complaints about withdrawals and reputation from our investigation, and reviews by WIKILIX members. Worth 15 points.
41Poor
We checked ToraFX on 2026-10-15 across regulation, corporate record, client terms, trading offer and service, covering 93% of the record. No licence was in force: every licence we held had ended or was not found on its register. The score was capped at 35 because a published scam check found it likely a scam. What would change it: withdrawal rails, all-in eurusd cost, instrument breadth. The published scam check reached the verdict "likely scam" and established 1.6 years of track record. The policy review scored the client terms 8.5 out of 10 for risk with 6 critical clauses. Trading EURUSD cost about 0 pips all-in, spread and commission together.
0%Scam riskScam risk is our overall estimate that this broker is unsafe, from 0% (safe) to 100% (almost certainly a scam). It blends the six risk areas below, weighted by how strong the evidence is. Higher means riskier.
Likely scamOur overall call, based on the evidence we could verify. From safest to worst: Appears legitimate, Insufficient evidence, High risk (unverified), Likely scam, Confirmed scam. A separate "Not a broker" verdict is used when it does not really offer trading.Confidence: MEDIUMHow sure we are of this verdict, based on how much solid, checkable evidence we found. Shown as Low, Medium or High.
2.0/5Safety rating 2 out of 5
The Wikilix safety rating, from 1 to 5 stars. It mirrors the scam risk (5 = safest, 1 = riskiest), so a higher risk percentage means fewer stars.
ToraFX shows the hallmarks of a scam, and we advise against depositing with it. The licence it advertises, Anjouan Offshore Finance Authority number L15942 / TFX, expired on 21 January 2026 and the A…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Regulation9/10 · CriticalIs it overseen by a strict, well-known financial regulator? Offshore-only or missing licences score higher.Scored 0 (clean) to 10 (worst). This area is 9/10 (Critical).Identity & transparency6/10 · HighHow openly it shows who and where it is (legal entity, address, owners). Hidden details score higher.Scored 0 (clean) to 10 (worst). This area is 6/10 (High).Withdrawals & conduct8/10 · CriticalCredible reports of clients being unable to withdraw their money. More such reports score higher.Scored 0 (clean) to 10 (worst). This area is 8/10 (Critical).Reputation7/10 · HighWhat independent reviews, regulators and watchdogs say about it. A poor track record scores higher.Scored 0 (clean) to 10 (worst). This area is 7/10 (High).Website claims7/10 · HighWhether the site claims (awards, years active, licences) actually check out. False claims score higher.Scored 0 (clean) to 10 (worst). This area is 7/10 (High).Operational history5/10 · ModerateHow long and how consistently it has genuinely operated. Brand-new or murky history scores higher.Scored 0 (clean) to 10 (worst). This area is 5/10 (Moderate).
What ToraFX legally published, but does not want you to read
Wikilix contract reading ·
High contract risk
ToraFX contracts you with ToraFX Ltd in the Comoros. Its Persian page promises a <strong>50%</strong> deposit bonus, while its English, Arabic and Turkish pages promise 20% for the same account. The Privacy Policy says text in languages other than English has no legal force. ToraFX caps its total liability to you at $1.
6Critical clausesClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
16Clauses flaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
4Documents readHow many of the broker’s own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
8.5/10Contract riskHow far this contract goes overall, from 0 to 10. 3 to 5 means real costs a client should know about; 6 to 8 means several clauses put money already earned at risk.
What Wikilix has recorded about ToraFX: its history, the licences it holds, its trading conditions and its fees.
ToraFX Broker Overview
ToraFX is an online forex and CFD brand operating from and trading under the name TORAFX. It is run by ToraFX Ltd, registered at Hamchako, Mutsamudu, on the Autonomous Island of Anjouan in the Union of the Comoros, under company number 15942 and incorporated on 21 January 2025. The broker offers MetaTrader 5 only, four account tiers, leverage to 1:500 and a stated range of more than 200 instruments across forex, commodities, indices and cryptocurrencies. The site is served in Persian, support is offered in Persian, English, Arabic and Turkish, and the offering is aimed principally at Persian speaking clients.
ToraFX Regulation and License
ToraFX holds no licence from a recognised financial regulator. The broker presents itself as licensed and regulated by the Anjouan Offshore Finance Authority, and an entry in the name of TORAFX LIMITED, numbered L15942 / TFX, does exist on that authority's own register. That entry ran from 21 January 2025 to 21 January 2026, and it is now recorded there as not active while the broker continues to advertise the approval as current. Anjouan operates an offshore company and licence scheme rather than financial supervision, so the approval carried no compensation scheme, no enforced segregation of client money and no complaints procedure even while it was in force, and the same number 15942 appears in the site footer as a plain company registration number.
Is ToraFX Regulated?
No. No supervisory authority stands behind a ToraFX account. The single approval the broker holds out has lapsed, and an offshore registration is not financial regulation in any case, so there is no regulator that would hear a complaint or intervene in a dispute over funds.
ToraFX Ltd
ToraFX Ltd is the single operating entity the broker publishes, and the brand and the company are presented as one and the same business. The client agreement names it in that full form, the site footer and the remaining legal documents use the plain brand form TORAFX with the same registration number and the same Anjouan address, and the Anjouan register carries it as TORAFX LIMITED. No directors, shareholders or parent company are disclosed anywhere on the site, so the people behind the company cannot be identified from what it publishes.
Is ToraFX Safe?
ToraFX carries the risk profile of an unregulated offshore operator, and the lapse of its only registration weakens that position rather than improving it. The site does say that client funds are held in segregated accounts at reputable banks, but it names no bank, no custodian and no independent audit. The four legal documents the broker links, its Terms of Use, Privacy Policy, AML Policy and Client Agreement, are published as scanned images rather than as readable text, which means the contractual terms governing an account cannot be searched or copied by a prospective client before depositing.
ToraFX Account Types
Four live accounts are published, all of them on MetaTrader 5.
ECN: minimum deposit $15, spreads from 0.0 to 0.3 pips, $5 commission per lot, leverage to 1:500.
PRO ECN: minimum deposit $200, spreads from 0.0 to 0.1 pips, $7 commission per lot, leverage to 1:500.
Bonus: minimum deposit $10, $5 commission per lot, leverage to 1:200, offered with a deposit bonus.
Pro Gold: no minimum deposit, spreads of 1.0 to 1.2 pips, no commission, leverage to 1:200, intended for gold trading.
ToraFX Spreads, Commissions and Fees
Commission is charged per lot on three of the four accounts, at $5 on the ECN and Bonus accounts and $7 on PRO ECN. The Pro Gold account carries no commission and prices gold through a wider spread of 1.0 to 1.2 pips instead. The broker publishes no schedule of deposit fees, withdrawal fees, inactivity fees or swap rates.
ToraFX Leverage
Maximum leverage is 1:500 on the ECN and PRO ECN accounts, and 1:200 on the Bonus and Pro Gold accounts. No regulatory cap sits behind those figures.
ToraFX Trading Platforms
MetaTrader 5 is the only platform ToraFX offers, with Windows, macOS, web, iOS and Android builds linked from the platforms page. The broker also distributes its own Android application and states that an iOS version is not yet available.
ToraFX Deposits and Withdrawals
ToraFX publishes no deposit and withdrawal page. No funding methods, minimum or maximum amounts, fees or processing times are disclosed anywhere on the public site, so the way money moves into and out of an account is only visible after registration.
ToraFX Support
Support is offered by live chat, described as staffed around the clock, and by email at info@torafx.com and support@torafx.com, in Persian, English, Arabic and Turkish. The broker also runs a Telegram channel and an Instagram account. No telephone number is published.
ToraFX Pros and Cons
Low barrier to entry, with a $15 ECN account and a gold account that requires no minimum deposit.
Tight advertised spreads on the ECN tiers and a clearly stated per lot commission.
MetaTrader 5 across desktop, web and mobile, with support in four languages.
No financial regulation, and the one offshore approval the broker advertises expired in January 2026.
Legal documents published as images that cannot be read as text before opening an account.
No funding methods, fees or withdrawal terms disclosed on the public site, and no telephone contact.
Under two years of corporate history, and no disclosed directors or shareholders.
ToraFX Review and Assessment
ToraFX presents a conventional low cost MetaTrader 5 offering with a very low entry deposit, and the trading terms it does publish are specific and internally consistent. What is missing is the part that protects a client. There is no financial regulator, the sole operating company is a young offshore entity whose Anjouan approval has expired while the site still advertises it, the client agreement is available only as a scanned image, and no withdrawal terms are published at all. Anyone considering an account should treat the deposit as unprotected and size it accordingly.
Website archive
Captured
Website snapshots
8 full-page captures of ToraFX's own site, archived so what they said can still be read after the pages change.
Every licence on record has expired or been closed on its register. We hold no evidence that ToraFX is regulated today.
1 of 1 checked
Licences on recordEvery licence or registration recorded for this broker, whether the broker claims it or our check found it.
1
Confirmed on registerLicences we located on the issuing regulator's own public register, with a screenshot taken at the time.
0
Tier 1 or 2Licences from tier-1 or tier-2 authorities (FCA, ASIC, CySEC and peers), the strongest client protection. A registration we could not confirm as a licence is not counted.
0
OffshoreLicences from offshore registers, which typically carry no compensation scheme and lighter oversight.
0
WIKILIX
Licence intelligence
The only licence on file
Licence Verification Record
Anjouan Offshore Finance AuthorityL15942 / TFX
Wikilix read the AOFA register on Sep 8, 2026. This is what it said.
Name on the register
TORAFX LIMITED
Jurisdiction
ComorosOffshore
Authority strength
Tier 3
Licence type
Common Business Registration
Register status
Expired 21 January 2026 and shown as Not active on the issuing register, while the broker still advertises it as current
Effective
Jan 21, 2025
Expires
Jan 21, 2026
Shown on the ToraFX website
Shown
Not found on register
Checked Sep 8, 2026
What our check found
The licensing body for international business companies on the Autonomous Island of Anjouan, an autonomous island of the Union of Comoros. It registers offshore companies and sells licence classes through a registered agent, and also markets second passports and nominee director services. It is not a functioning financial supervisor, and Anjouan approvals are not recognised by the Comorian state. Client protection: None in practice. No compensation scheme, no enforced segregation of client money, no dispute resolution for clients and no supervision of how deposits are handled. In this case the licence is not even in force.. Effective: 21 Jan 2025. Expires: 21 Jan 2026.
Client protection under this licence
Compensation schemeNo deposit or investor protection scheme.
No complaints route
Maximum leverageUnlimited (no official cap)
These are the rules AOFA sets for the firms it licenses. They are not a statement about how ToraFX applies them, or about which of its companies would hold your account.
A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.
4 account types on record. Minimum deposit from USD 10. Leverage up to 1:500.
4 account types
Account
Min Deposit
Max Leverage
Commission
ECNECN
USD 15
1:500
$5 per lot
PRO ECNPro ECN · ECN
USD 200
1:500
$7 per lot
Pro GoldGold · VIP
—Not recorded
1:200
$0
BonusStandard
USD 10
1:200
$5 per lot
Client acceptance
Country availability
Where ToraFX says it will and won't take clients
14 countries
7
Confirmed blocked
Named in the broker's own terms
USUnited StatesAEUnited Arab EmiratesCUCubaIQIraqMMMyanmarKPNorth KoreaSDSudan
6
Covered by a parent block
Territories a blocked country carries with it
PRPuerto RicoGUGuamVIVirgin Islands (U.S.)ASAmerican SamoaMPNorthern Mariana IslandsUMUnited States Minor Outlying Islands
1
Explicitly accepted
Named as accepted — not a full list of served markets
IRIran
How we know — 7 sources
1The standing risk-warning block in the footer of every page of torafx.com states, under the heading "Prohibited regions": TORAFX provides services for all countries except for citizens or residents of the United States, UAE, Cuba, Iraq, Myanmar, North Korea, and Sudan. Those seven jurisdictions are recorded as confirmed blocks. The same disclaimer was re-read this review on the home page and on the IB programme page, in its Persian wording, unchanged.
2Puerto Rico, Guam, the US Virgin Islands, American Samoa, the Northern Mariana Islands and the US Minor Outlying Islands are recorded as dependent territories of the named United States block; none of them is itself named on the site.
3The registration form at my.torafx.com (which resolves to my.torafx.com/en/auth/sign-up) serves a generic 246-entry country selector. The United States is the one entry absent from it, consistent with the published block. The United Arab Emirates, Cuba, Iraq, Myanmar, North Korea and Sudan all remain selectable, so onboarding enforcement does not match the published text for six of the seven; the published refusal is kept as the confirmed block because the selector is a general-purpose country dataset rather than a curated set of accepted markets, and a selectable entry in it is not an affirmative statement of acceptance.
4Iran is recorded as accepted. It is absent from the prohibited-regions disclaimer, it is selectable in the registration country selector, and torafx.com now publishes its site with Persian as the default and apparently only locale: the home page, the account-types and markets sections, the IB programme at torafx.com/fa/ib-program and the 24/7 support offering are all served in Persian, and the broker's own Telegram and Instagram channels are Persian-language. Taken together these are the broker's own onboarding and marketing surfaces addressing this market directly, which is more than the mere absence of a block.
5The four legal documents the site links from its footer (Terms of Use, Privacy Policy, AML Policy, Client Agreement, all under torafx.com/documents/) are published as image-only PDFs whose text could not be read this review, so any restriction they add could not be checked. This is a reported gap, not a finding of no restriction.
6The site publishes no dedicated restricted-countries page. torafx.com/restricted-countries returns 404, and the /fa locale prefix redirects to the same unprefixed 404.
7No regulator filing was consulted for this section: a review run does not open a regulator register. A filing would in any case state permitted rather than blocked jurisdictions and could not set a confirmed block.
MetaTrader 5 is the broker's main trading platform, published as Windows, macOS, web, iOS and Android builds with official download links, and served from a single MT5 server. ToraFX also publishes its own Android app, with iOS listed as coming soon.
ToraFX LtdActiveComoros·Registration 15942The single operating entity the broker publishes. The client agreement names it in full as ToraFX Ltd, while the site footer and the other legal documents use the plain brand form TORAFX with the same registration number 15942 and the same Anjouan address. No corporate register was consulted for this entry.
Company registry check
Checked
Company Registration
The operating company is TORAFX LIMITED. Registered in Comoros. Registration number 15942/TFX.
Verified on registry
Legal entity
TORAFX LIMITED
Registration number
15942/TFX
Jurisdiction
Comoros
Incorporated
Jan 21, 2025
Registry
Anjouan Offshore Finance Authority, Register of International Business Companies and International Licences
Registered address
Hamchako, Mutsamudu, Autonomous Island of Anjouan, Union of Comoros
Peer comparison
Brokers worth comparing
4 other brokers on the record share what ToraFX offers — its country, regulator, account types or platforms — set beside it on the same measures.
Yes. Iran is not among the seven countries ToraFX refuses, it is selectable in the registration form, and the broker addresses the market directly, with its site served in Persian and Persian language support, introducing broker programme and social channels. Whether local rules permit a reader to trade with an offshore broker is a separate question from the broker's own policy, and no supervisory authority stands behind the account either way.
The site advertises more than 200 instruments across forex, commodities, indices and cryptocurrencies, including over 50 currency pairs. It does not publish a full instrument list or contract specifications.
By live chat from the site, described as staffed around the clock, and by email at info@torafx.com or support@torafx.com. ToraFX also runs a Telegram channel and an Instagram account. No telephone number is published.
Yes. The Bonus account is advertised with a deposit bonus, at 20 percent on the English site and 50 percent on the Persian site. No bonus terms, turnover requirement or withdrawal condition is published, and bonus credit typically restricts what can be withdrawn.
ToraFX Ltd was incorporated on 21 January 2025, which gives it under two years of corporate history, and the site itself still publishes no founding year. A record that short does not show how a broker behaves under stress, and the first approval it held has already lapsed.
No evidence of fraud has been established against ToraFX. The ground it stands on is weaker than the site presents, though: the Anjouan approval it advertises expired on 21 January 2026 and is recorded as not active on the issuing register, and the broker publishes no funding terms and no readable client agreement before a deposit. Treat it as an unverified offshore operator whose deposits are unprotected rather than as either confirmed clean or confirmed fraudulent.
The site states that funds are held in segregated accounts at reputable banks, but names no bank and provides no audit or third-party confirmation. There is no compensation scheme or investor protection fund behind an Anjouan registration, so a client has no external recourse if funds are not returned.
The footer disclaimer says ToraFX serves all countries except citizens or residents of the United States, the United Arab Emirates, Cuba, Iraq, Myanmar, North Korea and Sudan. The registration form's country selector omits the United States but still lists the other six, so the published policy and the onboarding form do not fully agree.
No withdrawal processing times are published anywhere on the site, and no independent evidence of actual withdrawal performance was established. Treat any expectation of a particular timescale as unsupported.
ToraFX does not publish this. There is no deposit and withdrawal page on the public site and no funding method, fee, limit or processing time is disclosed before registration, so the terms on which money can be taken out are unknown at the point of signing up.
MetaTrader 5 only, with Windows, macOS, web, iOS and Android builds linked from the platforms page. ToraFX also distributes its own Android application and says an iOS version is not yet available.
The ECN account is advertised at 0.0 to 0.3 pips with $5 commission per lot, PRO ECN at 0.0 to 0.1 pips with $7 per lot, and the Bonus account at $5 per lot. The Pro Gold account charges no commission and prices gold at 1.0 to 1.2 pips instead.
Up to 1:500 on the ECN and PRO ECN accounts, and up to 1:200 on the Bonus and Pro Gold accounts. Leverage at that level magnifies losses as much as gains and there is no regulatory cap behind it.
It depends on the account. The Pro Gold account has no minimum deposit, the Bonus account starts at $10, the ECN account at $15 and the PRO ECN account at $200.
ToraFX Ltd is the only operating company the broker names, registered at Hamchako, Mutsamudu, on the Autonomous Island of Anjouan in the Union of the Comoros under number 15942. The Anjouan register carries it as TORAFX LIMITED, incorporated on 21 January 2025. The client agreement uses the full form ToraFX Ltd while the footer and the other legal documents use the plain brand form, so the brand and the legal entity are presented as one company. No directors, shareholders or parent company are disclosed anywhere on the site.
No. ToraFX holds no licence from a recognised financial regulator. Its only approval is an Anjouan registration, number L15942 / TFX in the name of TORAFX LIMITED, and that entry ran from 21 January 2025 to 21 January 2026 and is now recorded as not active on the issuing register, while the site still advertises it as current. An Anjouan approval brings no compensation scheme, no protection of client money and no complaints procedure even while it is in force.
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