Wikilix
Contract reading

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

Every clause below is published by WHITEFOREX 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: WHITE FOREX LTD.

marketing gaphidden feesole discretionprofit voidingunilateral amendmentdeemed acceptanceforum waiverwithdrawalsbonus lockclient money

White Forex can cancel the trades where you made money and still enforce the ones where you lost. Its website says no withdrawal fees, while clause 12.5 puts every transfer charge on you. It calls itself a fully licensed broker, and no document it publishes names a regulator. The contract also changed since 2024 without the date on it changing.

Back to WHITEFOREX

Contract risk

Money at risk
7.5/10

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.
3
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
16
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
6
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
8

How the 16 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.

Critical3
Warning10
Notice3

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.

3 working daysWithdrawal limit. Jump to the clause this comes from.Instant withdrawals advertised, three business days in the contract90 daysFee on an unused account. Jump to the clause this comes from.A small leftover balance can be given away after 90 days

What the documents say

16 clauses worth knowing about, worst first, each quoted from WHITEFOREX's own files

01

If White Forex decides your trading breached its rules, clause 10.9.2 lets it treat your profitable trades as void. The same clause lets it enforce the trades where you lost money against you.

Why this matters

You keep every loss and White Forex keeps every gain. Clause 10.9.4 then turns the burden around: unless you prove no breach happened, all your profitable trades become null and void.

Exhibit 1CriticalHarder than usual

Treat all of the Clients’ Open Positions and Trades under this paragraph as immediately void even if they are Open Positions or Trades under which the Client has made profits
Clause 10.9.2 in Clients Agreement, p.22
Read from the broker's site on Open the reference
Our own capture of web.archive.org, taken on Sep 14, 2026Winning trades voided, losing trades enforced (clause 10.9.2)This 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
  • Worse together with Exhibit 2One clause voids profits after a breach, the other decides what counts as a breach, so White Forex controls both ends.
02

Clause 10.9.6 lets White Forex treat scalping under 2 minutes as abusive trading, and cancel the profits it produced. The same clause now says automated trading systems and bots are strictly prohibited.

Why this matters

A fast exit is an ordinary way to trade, and here it can cost you the profit. Neither limit was in the 2024 version, and the date printed on the document did not change when they were added.

Exhibit 2CriticalRarely seenNew

scalping with fast speed under 2 minutes or on specific instruments
Clause 10.9.6 in Clients Agreement
Downloaded from the broker's site on Open the reference
Our own capture of whiteforex.com, taken on Sep 14, 2026Closing a trade under 2 minutes now counts as abuse (clause 10.9.6)Visit this page on the broker's siteDownload the full size image file

Our readingBrokers commonly reserve the right to act against abusive trading. Putting a fixed clock on it, so any trade closed inside 2 minutes can be called abuse, turns a judgement about intent into an automatic test that ordinary trading fails.

  • Worse together with Exhibit 1Being labelled a scalper under one clause opens the door to the profit voiding machinery in the other.
03

White Forex tells you on its client protection page that it is a fully licensed broker regulated by prominent international authorities. No document it publishes names a single regulator, licence or supervisor.

Why this matters

You cannot check a licence that is never named. If something goes wrong, clause 20.9 sends you to a regulatory authority of Saint Lucia that the contract also declines to name.

Exhibit 3CriticalHarder than usual

White Forex Ltd: A Securities Dealer registered in St Lucia with registration number 2024-00475.
Quoted in Privacy Policy
Read from the broker's site on Open the reference
Our own capture of whiteforex.com, taken on Sep 14, 2026Fully licensed on the website, no regulator in any documentVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must state their regulator and licence number in client communications, so a client can verify the firm on a public register. White Forex states neither, in any document.

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

04

White Forex tells you it covers your third party transaction fees so you can withdraw without extra cost. Clause 12.5 says the opposite: you pay any payment and transfer charges, and White Forex debits your account for them.

Why this matters

Money leaves your balance for a charge the deposit page told you does not exist. Clause 16.5 adds another one if you fund an account, never place a trade, and then ask for your money back.

Exhibit 4WarningHarder than usual

The Client shall be responsible to pay any payment and/or transfer charges
Clause 12.5 in Clients Agreement
Downloaded from the broker's site on Open the reference
Our own capture of whiteforex.com, taken on Sep 14, 2026No withdrawal fees advertised, transfer charges in the contract (clause 12.5)Visit this page on the broker's siteDownload the full size image file
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. White Forex publishes a page saying there are none, and a contract saying you pay them.

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

  • Worse together with Exhibit 7The public page denies the charge exists and the contract puts the only real schedule behind a login, so there is nowhere to read it before you deposit.
05

White Forex advertises an instant withdrawal feature that gives you your funds any time, day or night. Clause 12.11 gives it up to three business days, and the clock starts only once it accepts every condition is met.

Why this matters

A weekend request can sit for most of a week. Clause 12.4 also pushes you back out through the method you paid in with, so a card deposit cannot leave as a bank transfer unless White Forex agrees.

Exhibit 5WarningStandard wording3 working days

the Company shall process withdrawal request of the Client within, but no later than, three (3) Business Days
Clause 12.11 in Clients Agreement
Downloaded from the broker's site on Open the reference
Our own capture of whiteforex.com, taken on Sep 14, 2026Instant withdrawals advertised, three business days in the contract (clause 12.11)Visit this page on the broker's siteDownload the full size image file

What it costsA withdrawal requested on Friday evening can be paid the following Wednesday and still sit inside clause 12.11.

  • Worse together with Exhibit 14The three day clock does not begin until identity and source of funds checks satisfy White Forex, and it can reopen those at withdrawal time.

White Forex calls itself fully licensed and names no regulator anywhere

The client protection page says White Forex is a fully licensed broker regulated by prominent international authorities, and no document it publishes names one. The same page promises segregated accounts while clause 11.1.7 lets a third party hold a lien over that money. The homepage promises zero overnight fees, and the fees page publishes a swap table.

Public claim, private term2 clauses flagged

The White Forex homepage promises zero overnight fees on positions held past trading hours. Its own fees page publishes a storage charge table, and clause 10.4.3 charges swaps every business day and triples them on Fridays.

Why this matters

Holding a position overnight costs you money the homepage said it would not. A Friday position is charged three times over.

Exhibit 11WarningHarder than usual

Swaps are charged once for every business day between Mondays and Thursdays included (Server Time 00:00 AM), but three times the size on Fridays to account for the following weekend.
Clause 10.4.3 in Clients Agreement, p.20
Read from the broker's site on Open the reference
Our own capture of whiteforex.com, taken on Sep 14, 2026The claim, on Overnight Fees panel on the homepageVisit this page on the broker's siteDownload the full size image file
Our own capture of web.archive.org, taken on Sep 14, 2026What the contract says, clause 10.4.3Visit this page on the broker's siteDownload the full size image file

White Forex promises a safety net across all trading account types, so your losses never exceed your balance. Its Risk Disclosure gives that protection to retail clients only.

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

White Forex sells a Professional account, and clause 7.1 lets it move you into that category. No document promises negative balance protection to a client it has categorised as Professional.

Exhibit 12WarningHarder than usual

However, retail clients cannot lose more than the balance on their trading account(s) as the Company provides “negative balance protection”.
Quoted in Risk Disclosure
Read from the broker's site on Open the reference
Our own capture of whiteforex.com, taken on Sep 14, 2026The claim, on Negative Balance Protection panel on the Client Protection pageVisit this page on the broker's siteDownload the full size image file
Our own capture of whiteforex.com, taken on Sep 14, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: ESMA (EU), FCA (UK), CySEC (Cyprus)

Under ESMA rules applied by the FCA and CySEC, negative balance protection is mandatory for retail CFD clients and is account based. White Forex advertises it more widely than its own Risk Disclosure grants it.

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

The fees page names no deposit or withdrawal charge, and the contract names two

Clause 12.5 puts every payment and transfer charge on you, and White Forex debits your account for it. Clause 16.5 adds a charge if you fund an account, never trade, and ask for your money back. The public fees page, headed The Transparency We Promised, lists neither, and clause 12.2 puts the real schedule behind a login.

Cost disclosure1 clause flagged

Clause 12.2 puts the list of charges and commissions inside your Personal Area, which you only reach after registering. Clause 16.5 says the same charges are on the website, and the public fees page shows no deposit or withdrawal charge at all.

Why this matters

You cannot compare White Forex on cost before you hand over your details. Clause 16.6 then lets it change those charges without warning you first.

Exhibit 7WarningHarder than usual

During the course of this Agreement all available deposit and withdrawal methods, minimum deposit requirements and any charges or commissions for payments, can be found in the Personal Area of the Client.
Clause 12.2 in Clients Agreement, p.24
Read from the broker's site on Open the reference
  • Worse together with Exhibit 13A charge can change on the website and count as notice to you one hour later, whether or not you looked.

White Forex can change the deal by posting on its own website

Clause 24.1 lets White Forex amend the agreement at any time, and clause 22.5 treats a website post as received by you one hour later. Clause 10.5.1 lets it change your leverage without notice. Clause 10.2.5 applies new margin requirements to positions you already hold.

Terms that move1 clause flagged

Clause 24.1 lets White Forex amend the agreement at any time. Clause 22.5 treats anything posted on its website as received by you one hour later.

Why this matters

A term can change while you sleep and count as notice before you wake. Clause 10.5.1 lets White Forex change your leverage with no notice, and clause 10.2.5 applies new margin rules to positions you already hold.

Exhibit 13WarningHarder than usual

One hour after, if sent by Email or it has been posted on the Website.
Clause 22.5 in Clients Agreement
Downloaded from the broker's site on Open the reference

White Forex decides whether your complaint counts

Clause 20.6 lets White Forex dismiss a complaint it judges inaccurate or rudely worded, and clause 20.7 closes one if you do not respond promptly enough. Clause 22.6 makes its own recordings conclusive evidence. Clause 20.9 points you to a regulatory authority of Saint Lucia that it never names.

Challenging a decision1 clause flagged

Clause 20.6 lets White Forex dismiss your complaint if it judges the wording inaccurate, rude or threatening. Clause 20.7 closes it if you do not answer its questions promptly enough.

Why this matters

The company you are complaining about decides whether the complaint survives. Clause 22.6 then makes its own recordings conclusive evidence of what you asked it to do.

Exhibit 8WarningHarder than usual

Where a query or complaint does not comply with the provision of this Agreement, or it is not expressed accurately and/or it comprises obscene/rude words and/or includes offensive language and/or threats towards the Company or its representatives, the Company has the right dismiss it.
Clause 20.6 in Clients Agreement, p.34
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 retail clients access to an independent ombudsman when the firm rejects a complaint. White Forex names no scheme and no authority.

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

  • Worse together with Exhibit 16The internal route can be closed by White Forex, and the external route points at an authority no document names.

Asking White Forex to stop using your data can end your account

The privacy policy lets White Forex terminate your services immediately if you tell it to stop processing your personal data. It records telephone calls without warning and keeps those recordings as its own property. Clause 6.9 lets it suspend services when your identity documents expire.

Your data, their terms1 clause flagged

The privacy policy lets White Forex end your services immediately if you tell it to stop using or processing your personal data. It decides what counts as a reasonable time.

Why this matters

Exercising a data right becomes a reason to cut off your trading account. White Forex also records your phone calls without warning and keeps those recordings as its own property.

Exhibit 14WarningHarder than usual

If you instruct us to cease using or processing your personal data, we have the right to terminate any existing services to you within a reasonable time or immediately, as determined by the Company.
Quoted in Privacy Policy
Read from the broker's site on Open the reference

White Forex can trade against you without telling you

Clause 15.5 lets White Forex sell you an instrument from its own account, so your loss can be its gain. The same clause has you authorise it to act despite any conflict of interest, without asking you first. Clause 16.3 lets it take payments from third parties and disclose them only if required.

Who is on the other side1 clause flagged

Clause 15.5 lets White Forex sell you an instrument out of its own account, so it can profit when you lose. The same clause has you authorise it to act despite any conflict of interest, without asking you first.

Why this matters

The firm quoting your price may be the firm on the other side of it. Clause 16.3 also lets White Forex take payments from third parties and tell you only if it has to.

Exhibit 10WarningStandard wording

The Client agrees and authorizes the Company to deal with or for the Client in any manner which WHITE FOREX considers appropriate, notwithstanding any conflict of interest or the existence of any material interest in a Transaction, without prior reference to the Client.
Clause 15.5 in Clients Agreement, p.28
Read from the broker's site on Open the reference

A balance under one dollar can be donated after 90 days

Clause 11.1.14 lets White Forex take a leftover balance of up to 1 USD and give it to a charity of its choosing. Clause 11.1.13 releases your money from the segregated account after five years if it cannot trace you. The contract's own definition of a dormant account disagrees with itself on whether the trigger is 60 or 90 days.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

If your balance falls to 1 USD or less and you have not traded for 90 calendar days, clause 11.1.14 lets White Forex take what is left and give it to charity. It picks the charity at its absolute discretion.

Why this matters

Your money leaves the account without you asking, and the clause has no notice step. After five years of no movement, clause 11.1.13 lets White Forex release a balance of any size from the segregated account if it cannot trace you.

Exhibit 6WarningRarely seen90 days

the Company has the right to deduct this remaining Trading Account Balance and use it for charity
Clause 11.1.14 in Clients Agreement
Downloaded from the broker's site on Open the reference

What it costsAn account left with $0.90 and no trades for three months can be emptied to zero under clause 11.1.14.

Our readingDormancy fees are ordinary. A term that hands the leftover balance to a charity the firm picks, rather than holding it or passing it to the state as unclaimed property, is not the usual mechanism.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 90, balance under $1White Forex can take the remaining balance and give it to charity.11.1.14
Zero balance, no tradingWhite Forex archives the account, and the trades on it cannot be restored.10.11.2
A deadline White Forex sets itselfWhite Forex can limit your Personal Area until you send the documents it asks for.10.11.4
Five years, no movementWhite Forex can release your money from the segregated account if it cannot trace you.11.1.13

White Forex advertises cash prizes and publishes no terms for them

The loyalty programme offers cars and cash rewards for lifetime trading volume, and no bonus or promotion terms document appears anywhere on the site. Clause 10.8.5 lets White Forex cancel all rewards, orders and profits from a campaign if it suspects misuse. The rules you would be judged against are not published.

Rewards without rules1 clause flagged

White Forex runs a loyalty programme offering cars and cash prizes for trading volume, and publishes no bonus or promotion terms anywhere on its site. Clause 10.8.5 covers what happens instead.

Why this matters

If White Forex suspects you misused a campaign, it can remove you and cancel every reward, order and profit you made during it. The rules you are judged against are not published.

Exhibit 15NoticeHarder than usual

If the Company suspects that the Client misuses or is attempting to misuses the campaign reward or breaches any term of this Agreement or the Terms and Conditions of the campaign, the Company shall remove the Client from the campaign and cancel all rewards, orders and profits made by the Client within the campaign period.
Clause 10.8.5 in Clients Agreement, p.21
Read from the broker's site on Open the reference

Any dispute goes to the courts of Saint Lucia

Clause 25.2 sends every dispute to the courts of Saint Lucia, where White Forex is registered. This is normal for an offshore broker, and it is still a long way from most of its clients. Clause 23.4 lets White Forex hand your account to another company on five business days notice.

Where you would sue1 clause flagged

Clause 25.1 puts the agreement under the law of Saint Lucia and clause 25.2 sends every dispute to its courts. This is normal for an offshore broker.

Why this matters

Suing White Forex means suing in the Caribbean, wherever you live. Clause 23.4 also lets it hand your account to another company after five business days notice.

Exhibit 9NoticeStandard wording

All disputes and controversies arising out of, or in connection with the Agreement shall be finally settled in the courts of Saint Lucia.
Clause 25.2 in Clients Agreement, p.39
Read from the broker's site on Open the reference

You contract with a Saint Lucia company that names no regulator

The agreement is between you and WHITE FOREX LTD., incorporated in Saint Lucia with a company registration number and no licence number. No document names a regulator or a compensation scheme. The client protection page promises segregated accounts, and clause 11.1.7 lets a third party hold a lien over that same money.

Who you contract with1 clause flagged

White Forex promises your funds sit in segregated accounts, separate from its own. Clause 11.1.7 lets it place that money with a third party who may hold a lien or right of set off over it.

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.

Why this matters

If that third party fails, clause 11.1.8 says White Forex accepts no liability for what you lose. No document names a compensation scheme that would cover the gap.

Exhibit 16NoticeStandard wording

The Company, to the extent allowed under Applicable Regulations, may deposit Client money with a third party (i.e. intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty or a payment service provider) who may have a security interest, lien or right of set-off in relation to that money.
Clause 11.1.7 in Clients Agreement, p.23
Read from the broker's site on Open the reference
Our own capture of whiteforex.com, taken on Sep 14, 2026The claim, on Segregated accounts panel on the Client Protection pageVisit this page on the broker's siteDownload the full size image file
Our own capture of web.archive.org, taken on Sep 14, 2026What the contract says, clause 11.1.7Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must hold retail client money in segregated accounts and belong to a statutory compensation scheme that pays out if the firm fails. White Forex names no such scheme.

WHITEFOREX 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

White Forex claims regulation by international authorities, and its contract points to one authority it never names.

Said in public, in English

We are a fully licensed broker, regulated by prominent international authorities around the world.

Regulation and Trust panel on the Client Protection page

In the contract · clause 20.9

The Client has the right to raise their complaint with the Company's regulatory authority of Saint Lucia

02

The website says White Forex absorbs transfer fees, and clause 12.5 charges them to your account.

Said in public, in English

We cover your third-party transaction fees, so you can withdraw funds without any extra cost.

No Withdrawal Fees panel on the Deposit and Withdrawal page

In the contract · clause 12.5

The Client shall be responsible to pay any payment and/or transfer charges

03

Withdrawals are advertised as instant and the contract allows three business days.

Said in public, in English

With our instant withdrawal feature, you can access your funds any time, day or night.

Your Money is always Accessible panel on the Deposit and Withdrawal page

In the contract · clause 12.11

the Company shall process withdrawal request of the Client within, but no later than, three (3) Business Days

04

White Forex sells execution speed while its contract treats a trade closed inside 2 minutes as abuse.

Said in public, in English

Experience lightning-fast execution speeds of 20 milliseconds, supported by institutional-grade infrastructure.

Ultra-Fast Execution panel on the homepage

In the contract · clause 10.9.6

scalping with fast speed under 2 minutes or on specific instruments

05

White Forex advertises automated copy trading on a platform whose contract prohibits automated trading systems.

Said in public, in English

Autocopy is an innovative feature offered by WhiteForex that allows you to mirror the trading activity of other traders.

Autocopy entry in the broker's own glossary

In the contract · clause 10.9.6

the use of automated trading systems or bot trading is strictly prohibited

06

The homepage promises no overnight fees and the contract charges swaps daily, tripled on Fridays.

Said in public, in English

Zero overnight fees that apply to positions held beyond trading hours, supporting long-term strategy execution.

Overnight Fees panel on the homepage

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

In the contract · clause 10.4.3

Swaps are charged once for every business day between Mondays and Thursdays included (Server Time 00:00 AM), but three times the size on Fridays to account for the following weekend.

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

07

The protection is advertised for all account types and granted in the documents to retail clients only.

Said in public, in English

Trade confidently knowing you won’t owe your broker money; we ensure that losses do not exceed your account balance, offering a safety net across all trading account types.

Negative Balance Protection panel on the Client Protection page

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

In the contract

However, retail clients cannot lose more than the balance on their trading account(s) as the Company provides “negative balance protection”.

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

08

Segregation is promised on the website while the contract lets a third party hold a lien over the same money.

Said in public, in English

Your funds are held in segregated accounts, ensuring they are kept separate from the company’s own funds.

Segregated accounts panel on the Client Protection page

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

In the contract · clause 11.1.7

The Company, to the extent allowed under Applicable Regulations, may deposit Client money with a third party (i.e. intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty or a payment service provider) who may have a security interest, lien or right of set-off in relation to that money.

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

What changed quietly

First reading of White Forex, so there is no earlier version of this page to compare against.

  • REWRITTENClause 10.9.6 · 2024-12-27 (archived) to Updated on 12.08.2024

    A fixed 2 minute threshold was added, so a trade closed quickly can now be called abusive on the clock alone.

    scalping with fast speed under 2 minutes or on specific instruments

  • ADDEDClause 10.9.6 · 2024-12-27 (archived) to Updated on 12.08.2024

    An outright ban on automated trading systems appeared, on a platform White Forex sells for its speed and copy trading.

    the use of automated trading systems or bot trading is strictly prohibited

The documents this reading is based on

6 files, all published by WHITEFOREX. 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 WHITEFOREX publishes.

How this reading was done

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

This reading was published on .

Documents
4 of 6downloaded from the broker's site, and 4 read in full
Pages opened
23pages walked to find those documents, footer links included
Older copies
10earlier versions downloaded, 4 identical to the copy we hold by fingerprint
Marketing pages
7public pages set against what the contract says

Who the contract is with

WHITE FOREX LTD.

Clause 1.1 makes your contract with WHITE FOREX LTD., and clause 1.2 says it is incorporated in Saint Lucia with a Business Identification Number. The same company appears under four names across the documents: WHITE FOREX LTD. in the agreement, White Forex Ltd in the privacy policy, White Forex (St Lucia) in every PDF footer, and White Forex Limited Incorporated on the website. The privacy policy also refers to more than one White Forex Entity and the AML policy to a White Forex Group, and no document says what those are. No document names a regulator or a licence number.

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 Risk Disclosure is detailed for an offshore broker. It runs to eight pages, covers leverage, slippage, force majeure and impersonation risk, and states plainly that retail clients get negative balance protection. Clause 12.11 caps withdrawal processing at three business days, which many offshore firms never commit to in writing. Clause 10.11.4 says inactivity limits will not stop you withdrawing your funds. There is no short complaint deadline either: clause 20.3 asks only for a reasonable timeframe.

The Client Agreement link in the footer of every White Forex page does not open. We found the live contract through the tick box on the sign-up form, where it sits under a different file name, and we read parts of it there. We read the December 2024 copy of the same agreement in full, and we checked every clause we quote against the live file. Longer quotations come from that 2024 copy and short ones from the live file. We could not see the fee schedule that clause 12.2 places in the Personal Area, because that sits behind a login. Four documents are unchanged since 2024 and we checked them by fingerprint rather than reading them again. The glossary is very long and we read part of it. White Forex publishes in English only, so there was no second language version to compare the contract against.

How to check any of this yourself

Every quote above links to the WHITEFOREX 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 WHITEFOREX 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 WHITEFOREX 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 14, 2026.

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

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