ToraFX

ToraFX Broker Overview

ToraFX is an online forex and CFD brand operating from torafx.com and trading under the name TORAFX. Its published address is Hamchako, Mutsamudu, on the Autonomous Island of Anjouan in the Union of the Comoros, and it gives registration number 15942. 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 published in Persian and English and is aimed principally at Persian-speaking clients.

ToraFX Regulation and License

The ToraFX About page states that the broker is licensed and regulated by the Anjouan Offshore Finance Authority (AOFA) with registration number 15942. WIKILIX records that as a claim by the broker rather than as confirmed regulation. The same number 15942 also appears in the site footer as a company registration number, and the broker does not publish a licence category, an issue date, an expiry date or a link to any official verification page. No separate operating company is named anywhere on the site, in the footer or in the legal documents, so the brand and the legal entity are presented as one and the same.

Is ToraFX Regulated?

No confirmed financial regulation was established for ToraFX. The Anjouan claim is unconfirmed, and a company registration number in an offshore jurisdiction is not financial regulation in any case. A client dealing with ToraFX should assume there is no supervisory authority that would hear a complaint or intervene in a dispute over funds.

Is ToraFX Safe?

ToraFX carries the risk profile of an unregulated offshore operator. 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, and there is no compensation or investor protection scheme behind an Anjouan registration. 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 read or searched 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, leverage to 1:500.
• PRO ECN: minimum deposit $200, spreads from 0.0 to 0.1 pips, $7 commission, leverage to 1:500.
• Bonus: minimum deposit $10, low spreads, $5 commission, 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.

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 [email protected] and [email protected]. 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.
• No confirmed financial regulation, and the Anjouan claim rests on a registration number the broker also prints as a company number.
• 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.

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 confirmed regulator, no named operating company beyond the brand itself, no readable client agreement and no published withdrawal terms. Anyone considering an account should treat the deposit as unprotected and size it accordingly.