Wikilix
Contract reading

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

Every clause below is published by WesternFX 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: Western Group Inc.

sole discretionbonus lockwithdrawalsdisclosurehidden feeprofit voidingaccount closureclient moneycomplaintscountry restriction

WesternFX can refuse to pay profits it decides came from fast trading, and the rule now catches scalping. Its bonus terms bar withdrawals while a campaign runs, and no end date for that campaign is published. The homepage promises segregated bank accounts, while the Risk Disclaimer puts you behind other creditors if the firm fails. The contract is governed by the law of Honduras, a country the company states no connection to.

Back to WesternFX

Contract risk

Money at risk
8.5/10

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.
6
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
21
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
10
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
5

How the 21 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.

Critical6
Warning15
Notice0

section 59 of 59is where the deepest clause sits: the very end of 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.

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

Critical10%Profit at risk. Jump to the clause this comes from.Profits refused when trades close inside three minutesCritical30%Bonus requirement. Jump to the clause this comes from.No withdrawals at all while a bonus campaign runs7 working daysWithdrawal limit. Jump to the clause this comes from.Money can only leave by bank wire7 working daysTime to complain. Jump to the clause this comes from.Complaints end where they start, inside the firm

What the documents say

21 clauses worth knowing about, worst first, each quoted from WesternFX's own files

01

WesternFX can refuse to pay profits on trades it calls unethical. Closing more than 10% of your volume inside three minutes counts, and so does scalping.

Why this matters

Short trades are normal for most active traders. If WesternFX decides too many of yours closed quickly, it keeps the profit those trades made. Nothing in the clause requires it to warn you first.

Exhibit 1CriticalHarder than usual10%

In the event that more than 10% of the Customer trading volume was executed using an unethical system, WesternFX reserves the right to refuse paying the profits generated from these transactions.
Clause I in Trading and Execution Risks, p.1
Read from the broker's site on Open the reference

Where it sits: section 4 of 28 in the Trading and Execution Risks, near the start.

  • Worse together with Exhibit 16The same section lets WesternFX close the account as well as keep the profit.
  • Worse together with Exhibit 2Two documents give two separate routes to removing a profit after it was made.
02

Once the 30% bonus is on your account, WesternFX allows no withdrawals for the campaign period. The bonus lands on every deposit you make.

Why this matters

Your own deposit is locked in with the bonus. The bonus page lists the campaign duration as not available, so nothing tells you when withdrawals open again.

Exhibit 5CriticalHarder than usual30%

No withdrawals allowed during campaign period.
Clause 7 in 30% Withdrawable Bonus Terms and Conditions
Read from the broker's site on Open the reference
  • Worse together with Exhibit 7Withdrawals are barred during the campaign and the volume needed to release the bonus runs into hundreds of lots.
03

WesternFX can hold back any payment it owes you, in whole or in part, while an open position shows a loss on paper. An unresolved dispute is also a reason to hold it.

Why this matters

Your money can sit with WesternFX for as long as one open trade is underwater. Raising a dispute with the firm is itself a ground for holding your withdrawal.

Exhibit 3CriticalHarder than usual

However, we may at our discretion elect to withhold (or if applicable, deduct) any payment requested (in whole or in part) due to you if: (a) open Margined Transactions on the Account show notional losses;
Clause Payment Withheld in Terms of Business, p.3
Read from the broker's site on Open the reference

Where it sits: section 24 of 59 in the Terms of Business, 41% of the way through.

  • Worse together with Exhibit 12Complaining creates the dispute that lets WesternFX keep holding the payment, and no deadline binds its answer.
04

WesternFX treats the bonus as backup equity. Your own money is used first when a trade loses, and the bonus only starts absorbing losses after your balance reaches zero.

Why this matters

The bonus does not protect your deposit, it replaces it. WesternFX's own bonus page calls this making the stop out level on your original balance zero.

Exhibit 6CriticalHarder than usual0%

The bonus will be treated as a backup equity, In case of a loss the actual equity will be first utilized after that the bonus will be used.
Clause 14 in 30% Withdrawable Bonus Terms and Conditions
Read from the broker's site on Open the reference
  • Worse together with Exhibit 8The bonus counts as equity, so removing it on suspicion can push the same account into a stop out.
05

WesternFX promises segregated bank accounts on its homepage. None of the ten legal documents it publishes mentions segregation, and its Risk Disclaimer puts you behind other creditors.

Why this matters

If WesternFX becomes insolvent, its own disclaimer says your deposit ranks as a general creditor claim. Segregation is what would keep your money out of that queue, and no clause promises it.

Exhibit 19CriticalHarder than usual

If the company becomes insolvent, the Customer’s claim for deposits and profits may not receive priority. The customer is a general creditor and will be paid as such from any monies still available after priority claims are paid.
Clause 10 in Risk Disclaimer, p.3
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia)

Firms licensed by the FCA or CySEC must hold retail client money in segregated accounts separate from their own. This document set contains no segregation clause at all.

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

  • Worse together with Exhibit 21No segregation clause, and no settled answer about which company in which country holds the money.
06

Every PDF says Western Group Inc. is registered by the Financial Services Authority of St Vincent and the Grenadines. The website footer says St. Lucia, company number 2023-00235.

Why this matters

You cannot tell from these documents which company in which country holds your money. That matters on the day you need to find it, or find someone to answer for it.

Exhibit 21WarningRarely seenNew

Legal: Western Group Inc. is registered by the Financial Services Authority (FSA) of ST. Vincent and the Grenadines, Central America.
Clause Footer in Terms of Business, p.1
Read from the broker's site on Open the reference

Buried at section 50 of 55 in the Terms of Business, 91% of the way through.

Our readingBrokers usually name one registered entity across their papers. Here the PDFs, the website footer and the governing law clause each point to a different country, and the newest change moved the stated registration from St Vincent to St. Lucia.

Two documents let WesternFX keep profit you have already made

Closing more than 10% of your volume inside three minutes is enough for WesternFX to refuse the profit on those trades, and scalping was added to that rule after the earlier version. Trades it calls latency arbitrage can be revoked outright, with corrections made to the account and no notice given. WesternFX decides any dispute about that itself.

Profit at risk1 clause flagged

Trades WesternFX decides relied on price latency arbitrage can be revoked without warning. It can also make corrections or adjustments to the account involved.

Why this matters

A closed, settled profit can come off your balance after the fact. WesternFX resolves any argument about it in its own sole and absolute discretion.

Exhibit 2CriticalHarder than usual

TRANSACTIONS THAT RELY ON PRICE LATENCY ARBITRAGE OPPORTUNITIES MAY BE REVOKED, WITHOUT PRIOR NOTICE. WESTERN GROUP INC. RESERVES THE RIGHT TO MAKE THE NECESSARY CORRECTIONS OR ADJUSTMENTS ON THE ACCOUNT INVOLVED, WITHOUT PRIOR NOTICE.
Clause Arbitrage in Terms of Business, p.5
Read from the broker's site on Open the reference

Buried at section 39 of 59 in the Terms of Business, 66% of the way through.

The homepage promises what the documents do not

WesternFX advertises segregated bank accounts, while none of the ten documents it publishes mentions segregation. Its Risk Disclaimer says you rank as a general creditor if the firm fails. The homepage also lists no slippage as a condition, and the risk document explains slippage at length.

Page against paper1 clause flagged

The homepage advertises no slippage as one of WesternFX's trading conditions. Its Trading and Execution Risks document gives slippage a section of its own.

Why this matters

Slippage costs you money on the fill price. The promise on the page is not one the broker's own document will stand behind.

Exhibit 20WarningHarder than usual

However, there are times when, due to an increase in volatility or volume, orders may be subject to slippage.
Clause II in Trading and Execution Risks, p.1
Read from the broker's site on Open the reference

Where it sits: section 6 of 28 in the Trading and Execution Risks, near the start.

WesternFX does not publish the document that sets out its charges

Charges can be deducted straight from your balance, and the Terms of Business say they are described in a Product Disclosure Statement. WesternFX publishes no such document. The fee for returning a card payment is said to be set out in the same missing file.

Cost disclosure1 clause flagged

WesternFX can take charges straight out of your balance. It says those charges are described in a Product Disclosure Statement, and that document is nowhere on its website.

Why this matters

You cannot check a fee against a list that is not published. The same missing document is where the fee for returning a card payment is said to be set out.

Exhibit 10WarningHarder than usual

You will pay our charges as agreed with you from time to time or we may deduct such charges from any funds held by us on your behalf. The charges are described in the Product Disclosure Statement.
Clause Charges and Payments in Terms of Business, p.1
Read from the broker's site on Open the reference
Our own capture of westernfx.com, taken on Sep 15, 2026The claim, on Deposit summary on the deposit and withdrawal pageThis 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

Where it sits: section 9 of 59 in the Terms of Business, near the start.

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

Firms licensed by the FCA or CySEC must give a retail client the costs and charges of a service before they trade. This contract points to a document the firm does not publish.

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

Every payment out is a decision WesternFX can postpone

WesternFX can withhold any payment while one open trade shows a paper loss, or while it treats a dispute as unresolved. Withdrawals leave only by bank wire unless it agrees otherwise in writing, and the bank charges are yours.

Getting money out1 clause flagged

Withdrawals can only be processed by wire transfer unless WesternFX agrees otherwise in writing. Every bank fee on the way out is yours to pay.

Why this matters

You can fund the account by card in an hour, then wait days for a wire back. The bank charges on that wire come out of your money.

Exhibit 4WarningHarder than usual7 working days

Withdrawals from your account can only be processed by wire transfer unless otherwise agreed to by us in writing.
Clause Payment in Terms of Business, p.3
Read from the broker's site on Open the reference

Where it sits: section 22 of 59 in the Terms of Business, 37% of the way through.

The bonus lands on every deposit and blocks withdrawals while it runs

WesternFX bars withdrawals for the whole campaign period once the 30% bonus is attached, and publishes no end date for that campaign. Releasing it takes lots equal to 10% of the balance, 130 lots on the firm's own $1,300 example. Its account table does flag that a bonus changes the stop out level, and the bonus terms show that level falling to zero on your own money.

Bonus mechanics3 clauses flagged

Releasing the bonus takes trading volume in lots equal to 10% of your account balance. WesternFX's own example needs 130 lots traded to release a $300 bonus.

Why this matters

Miss the three month window after you finish the volume and the bonus is gone. Only closed deals count towards the target.

Exhibit 7WarningHarder than usual130

You deposit $1000 and receive $300 bonus, so the total account balance becomes $1300. To withdraw the received bonus ($300), you need to make a transaction of $1300X10% = 130 lots (only closed deals are taken into account)
Clause 11 in 30% Withdrawable Bonus Terms and Conditions
Read from the broker's site on Open the reference

What it costsWesternFX's own example: you deposit $1,000 and receive $300, so the balance is $1,300. Releasing that $300 needs 130 lots of closed trades.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Every deposit over $250The 30% bonus is added to the account.6
During the campaignNo withdrawals are allowed.7
Balance x 10% in lotsTrading that volume in closed deals releases the bonus.11
Three months after the volume is metThe right to claim the bonus is lost if it is not claimed.13
End of campaignAny bonus still on the account is removed.9

If WesternFX suspects hedging or a second account, it can remove the bonus immediately and without your consent. Removing it can push the account into a stop out.

Why this matters

The bonus counts as equity while it sits there. Taking it away drops your equity, and the firm says it is not liable for any stop losses that follow.

Exhibit 8WarningHarder than usual

In the event that any stop losses are incurred as a result of such a removal the Company will not be held liable.
Clause 18 in 20% Rescue Bonus Terms and Conditions
Read from the broker's site on Open the reference

If your open trades are stopped out, WesternFX offers you another 20% bonus on your next deposits, up to $2,000. It is not applied automatically, you have to email and ask.

Why this matters

The offer arrives at the moment you have just lost the account. Taking it means depositing again under the terms that emptied it.

Exhibit 9WarningRarely seen20%

If the Client reaches Stop out Limit, then he/she will be entitled to an additional 20% bonus (the ‘Stop Out Bonus’) on his/her next deposits, up to a maximum of $2000.
Clause 13 in 20% Rescue Bonus Terms and Conditions
Read from the broker's site on Open the reference

Our readingMost bonus schemes reward a deposit. This one is triggered by having been stopped out, which turns a total loss into the qualifying event for the next offer.

WesternFX can change the terms, close the account and cap nothing you owe

Amendments take effect when WesternFX posts them on its website, and checking is your job. It can close an account without notice over a trading style it calls questionable. The Terms of Business also state that your deposit is no limit on what you can owe.

Terms that move3 clauses flagged

WesternFX can amend the Terms of Business by putting the change on its website. You are made responsible for checking, and you are bound by whatever is there.

Why this matters

No email, no notice period and no consent. A term you agreed to can be different the next time you look, and noticing is your job.

Exhibit 15WarningHarder than usual

We reserve the right to amend the terms and conditions of these Terms of Business from time to time by posting such changes on the WESTERN GROUP INC. website and in accordance with the Act. You are responsible for regularly reviewing these Terms of Business for any modifications and agree to be bound by the same.
Clause Amendments in Terms of Business, p.6
Read from the broker's site on Open the reference

Buried at section 47 of 59 in the Terms of Business, 80% of the way through.

WesternFX can close any account it decides is using an unethical or questionable trading style, without notice. The document gives examples but does not limit the list.

Why this matters

Questionable is not defined anywhere in the documents. WesternFX usually sends a warning first, but its own wording says it is not obliged to.

Exhibit 16WarningHarder than usual

WesternFX reserves the right, to close any account if deems it is engaging in unethical or questionable trading styles including, but not limited to latency arbitrage and the act of “flooding” of the WesternFX servers with an excessive amount of pending orders, without notice.
Clause I in Trading and Execution Risks, p.1
Read from the broker's site on Open the reference

Where it sits: section 3 of 28 in the Trading and Execution Risks, near the start.

The Terms of Business say the money you hold on deposit is no limit on what you can owe WesternFX. Its risk document says the opposite.

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

Two of its own documents disagree about whether you can owe more than you put in. The Terms of Business is the one that says it overrides everything else.

Exhibit 17WarningHarder than usual

Account limits do not limit or represent your liability for losses to WESTERN GROUP INC., and the funds you may have from time to time on deposit with us as Margin or otherwise do not represent any limit upon your financial liability to us.
Clause Account Opening in Terms of Business, p.2
Read from the broker's site on Open the reference

Where it sits: section 19 of 59 in the Terms of Business, 32% of the way through.

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

Firms licensed by the FCA or CySEC must give retail clients negative balance protection, so a loss cannot take the account below zero. Here one document promises it and the contract does not.

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

The complaint, the evidence and the decision all stay inside WesternFX

WesternFX answers a complaint within 7 business days and may then send a holding response with no final deadline. It can refuse to handle a complaint whose wording it judges offensive. Its own records stand as the evidence, released to you at its absolute discretion.

If it goes wrong2 clauses flagged

WesternFX answers a complaint within 7 business days, then can send a holding letter with no final deadline. It can refuse to handle a complaint whose wording it judges offensive.

Why this matters

No outside body appears anywhere in the procedure. If WesternFX decides against you, the route ends at its own compliance department.

Exhibit 12WarningHarder than usual7 working days

The Company shall send its initial response to the Client within 7 business days from the actual receipt of the complaint.
Clause 5.5 in Complaints Handling Procedure, p.2
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a final answer within a set number of weeks and must tell the client about an independent ombudsman who can decide the case at no cost. This procedure names no outside body.

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

WesternFX's records count as evidence of your dealings unless you can show they are wrong. Call recordings are its sole property, and you get copies only if it agrees.

Why this matters

Proving the broker wrong means using the broker's own records. The contract releases them to you at its absolute discretion.

Exhibit 13WarningHarder than usual

You will not rely on us to comply with your record keeping obligations, although records may be made available to you on request at our absolute discretion.
Clause Our Records in Terms of Business, p.7
Read from the broker's site on Open the reference

Buried at section 56 of 59 in the Terms of Business, 95% of the way through.

The last paragraph of the contract points to the law of Honduras

WesternFX puts the Terms of Business under Honduran law, in the final paragraph of the document. No office, licence or registration in Honduras appears anywhere in its papers. The company is described as registered in St Vincent in its PDFs and in St. Lucia on its website.

Where you would sue1 clause flagged

The last paragraph of the Terms of Business puts your contract under the law of Honduras. WesternFX states no office, licence or registration in that country anywhere.

Why this matters

Suing WesternFX would mean arguing Honduran law against a company registered somewhere else. The cost of that alone puts the contract out of reach.

Exhibit 14WarningRarely seen

Subject thereto, these Terms of Business shall be governed by and construed in accordance with the laws of Honduras.
Clause Governing law in Terms of Business, p.8
Read from the broker's site on Open the reference

Buried at section 59 of 59 in the Terms of Business, 100% of the way through.

Our readingA governing law with no connection to the company, the client or any regulator is unusual. Brokers normally name the law of the place they are registered, which here would be St Vincent or St. Lucia.

WesternFX can ask your credit file and your employer about you

Opening an account allows periodic searches at credit reference agencies and, where relevant, with your employer. WesternFX can pass information to fraud prevention organisations and to other brokers. Anything you email it is treated as non-confidential and licensed for its use.

Data you hand over1 clause flagged

Opening an account lets WesternFX make periodic searches about you at credit reference agencies and, where it applies, with your employer. Anything you email it is treated as non-confidential.

Why this matters

These checks are not one off, and the contract does not say what triggers one. Your complaint or account question can also be reused on the website, with no liability to you.

Exhibit 18WarningHarder than usual

(a) make periodic searches and enquiries about you and any Related Party at credit reference agencies, and your employers, if applicable; (b) disclose information to organizations involved in fraud prevention;
Clause Account Opening in Terms of Business, p.2
Read from the broker's site on Open the reference

Where it sits: section 19 of 59 in the Terms of Business, 32% of the way through.

WesternFX takes the other side of your trades and owes you no account of it

WesternFX deals as principal, which makes it the counterparty to every trade you place. The same document removes any duty to tell you what benefit, profit or commission it made from your order.

In plain words

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

Who you trade against1 clause flagged

WesternFX deals as principal, so it is the counterparty to all of your trades. It also owes you no duty to disclose any profit or commission it makes from them.

In plain words

Remuneration means payments it receives.

Why this matters

Your loss is its gain on the same trade. You have no right to ask what it earned from your order, because the contract removes that duty.

Exhibit 11WarningStandard wording

In our dealings with you, we will act as principal and not as agent on your behalf. Accordingly, we will be the counterparty to all of your trades.
Clause General Information in Terms of Business, p.1
Read from the broker's site on Open the reference

Where it sits: section 16 of 59 in the Terms of Business, 27% of the way through.

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

Firms licensed by the FCA or CySEC must disclose conflicts of interest and what they earn from a client's order. This contract discloses the conflict and then removes the duty to account for the earnings.

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

Where the marketing and the contract disagree

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

01

The homepage promises segregated bank accounts while the Risk Disclaimer ranks your deposit behind priority creditors.

Said in public, in English

Segregated bank Accounts

Fund Security panel on the English homepage

In the contract · clause 10

The customer is a general creditor and will be paid as such from any monies still available after priority claims are paid.

02

The homepage claims registration with an FSA while the footer of the same site gives only a St. Lucia company number.

Said in public, in English

Registered with FSA

Fund Security panel on the English homepage

In the contract

Legal: The website is operated by Western Group Inc which is registered in St. Lucia as an International Business Company and the registration number is 2023-00235.

03

The homepage lists no slippage as a condition and the broker's own risk document devotes a section to slippage.

Said in public, in English

No slippage

Trading conditions list on the English homepage

In the contract · clause II

However, there are times when, due to an increase in volatility or volume, orders may be subject to slippage.

04

The funding page offers an online payment withdrawal in 1 to 3 working days while the contract allows only wire transfer.

Said in public, in English

Withdrawal Time : 1-3 working days

Online payment options row on the deposit and withdrawal page

In the contract · clause Payment

Withdrawals from your account can only be processed by wire transfer unless otherwise agreed to by us in writing.

05

The funding page says no deposit fees apply while the contract reserves an administration fee whose amount is in an unpublished document.

Said in public, in English

Deposit Fees: WesternFX does not apply any deposit fees.

Deposit summary on the deposit and withdrawal page

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

In the contract · clause Payment Terms (c)

please note that we reserve the right to charge an administration fee (details of which are available in the Product Disclosure Statement)

What changed quietly

This is our first reading of WesternFX, so there is nothing to compare it against.

  • REWRITTENClause I · 2022-01-25 (archived) to 2024-03

    Scalping was added to the trading WesternFX will not pay profits on, widening a rule that previously caught only trades closed inside three minutes.

    To avoid debate of the term ‘unethical’ if more than 10% of the trading volume is closed within 3 minutes or goes under scalping, those trades would be regarded as ‘unethical’ and profits would not be paid out.

  • REWRITTENClause · 2026-03-17 (archived) to 2026-09-15

    The stated registration moved from St Vincent and the Grenadines to St. Lucia, while every PDF still names the St Vincent regulator.

    Legal: The website is operated by Western Group Inc which is registered in St. Lucia as an International Business Company and the registration number is 2023-00235.

  • REWRITTENClause Footer · 2022-01-25 (archived) to 2024-03

    Apart from a new telephone number, the Terms of Business is word for word what it was in January 2022, and the same holds for the IB Agreement, the Privacy Policy and the complaints procedure.

    Global Business License No. 21937/IBC. E-mail: support@westernfx.com, Tell: 0014168583600.

The documents this reading is based on

10 files, all published by WesternFX. 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 WesternFX publishes.

How this reading was done

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

This reading was published on .

Documents
9 of 10downloaded from the broker's site, and 9 read in full
Pages opened
23pages walked to find those documents, footer links included
Older copies
6earlier versions downloaded
Marketing pages
8public pages set against what the contract says
Position measured
14clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Western Group Inc.

Western Group Inc. is the counterparty to every trade, which its own Terms of Business states plainly. Its documents give the company three homes. The PDF footers claim registration by the Financial Services Authority of St Vincent and the Grenadines under Global Business License No. 21937/IBC. The website footer says St. Lucia, company number 2023-00235. The Terms of Business are governed by the law of Honduras. The site gives an administrative head office in Toronto while refusing service to residents of Canada. No document names a regulator supervising the trading business, and none mentions a compensation scheme.

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

WesternFX says it will not hold traders responsible for deficit balances, and it says so twice in the same document. Its Trading and Execution Risks paper explains slippage, gapping, widened spreads and grayed out pricing in plain language, which many offshore brokers never publish. The leverage on its account table, 1:500, matches the figure in that risk document, and the table also flags that a bonus changes the stop out level.

The Terms of Business says every charge is set out in a Product Disclosure Statement. WesternFX does not publish one, so we could not read its fee schedule. The three bonus documents are linked only from the bonus page, not from the legal documentation page. We read the 30% and 20% bonus terms in full, and only the opening clauses of the 50% one, which the page marks as not available. The site is published in English only, so there was no second language version to hold the contract against. No earlier copy of the Risk Disclaimer exists, so we could not check whether it changed.

How to check any of this yourself

Every quote above links to the WesternFX 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 WesternFX 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 WesternFX on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 15, 2026.

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

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