FRFX
We checked FRFX against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
FRFX claims to be owned and operated by FLOURISI LIMITED, a company authorized and regulated by the US National Futures Association (NFA) with the license: 0551772, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under license: M20201096, and the Financial Crimes Enforcement Network (FinCEN) with the license: 31000226418708. First, we indeed find match results to FRFX in FINTRAC and FinCEN. But please be informed that the above two authorities are not forex regulatory bodies that regulate entities engaging in forex services. Second, we also found a matching result to this broker in NFA's registry, however, FRFX is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, FRFX doesn't satisfy these conditions. The truth is, FRFX is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report FRFX.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.