WHIZ FX Forex Broker Review: High Risk (Illegal Business)


WHIZ FX is a forex trading platform established in 2022. This article will comprehensively evaluate WHIZ FX from various perspectives, including regulatory licenses, types of trades, trading.

Introduction to WHIZ FX Company

WHIZ FX is a forex and contract for difference (CFD) broker established and registered on September 7, 2022, in Saint Vincent and the Grenadines, with its headquarters located in Rosebery, Australia. The broker's official website is operated by WHIZ FX LLC, with a registered address at First Floor, First St Vincent Bank Building, Kingstown, St. Vincent and the Grenadines, and an enterprise registration number of 2546. According to a Whois search, the official website domain of its official website was registered on September 6, 2022.

WHIZFX is registered in Australia as WHIZ FX PTY LTD, formerly known as PINE FX MARKETS PTY LTD. It was registered on November 11, 2022, with the registration address at ALEXANDRIA NSW 2015, and the ACN number is 663 771 864.

The broker is registered in Canada as WHIZFX LIMITED, with the registration date of March 18, 2022. The company's registered address is 4450 Highway 7, Markham, ON L3R 1M2, Canada, and the company registration number is 1368108-4.




Is WHIZ FX Compliant and Legal? Does it Hold the Required Financial Regulatory Licenses?

WHIZ FX lacks effective regulation. Although the broker is registered with the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA), which only regulates activities such as banking, insurance, or mutual funds, it does not oversee forex margin trading activities nor issue forex licenses. Therefore, this entity is not subject to effective regulation.


WHIZ FX PTY LTD is regulated by the Australian Securities and Investments Commission (ASIC). The entity is the authorized corporate representative of MGF PTY LTD (License Number 00421246), with authorization effective from May 29, 2023. And its authorization number is 001303713. WHIZ FX PTY LTD does not serve as an issuer for over-the-counter (OTC) derivatives. This entity neither functions as a market maker for such products nor participates in transactions as a principal with clients. Its exclusive authorization is limited to providing services exclusively to Australian residents. Within Australia, the company offers financial services solely to wholesale clients, and the scope of services is strictly confined to the explicitly authorized activities.



WHIZFX LIMITED is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under the MSB number M22571616. TraderKnows indeed verified the registration information; however, it's important to note that FINTRAC is Canada's financial intelligence agency and regulatory body for anti-money laundering and counter-terrorist financing. Its mission is to facilitate the detection, prevention, and deterrence of money laundering and the financing of terrorist activities while safeguarding personal information under its control. Notably, this agency does not regulate foreign exchange trading and economic activities. In other words, WHIZFX LIMITED is not legally authorized to engage in foreign exchange trading and economic business.



Trading Products Offered by WHIZ FX

According to WHIZ FX's official website, the broker primarily offers trading services for financial derivatives such as forex, energy, stocks, futures, and indices.

WHIZ FX的交易品种

Trading Software Provided by WHIZ FX

On WHIZ FX's official website, the offered software download link is for the MT5 trading platform, providing access to both demo and real accounts. WHIZ FX LLC, the entity behind the services, operates without regulatory oversight. Users should be aware of the considerable risks associated with utilizing this trading software.


Fund Security of WHIZ FX

WHIZ FX does not disclose any third-party fund regulation information on its official website, raising concerns about the security of user funds.

Deposit and Withdrawal Channels for WHIZ FX

WHIZ FX has not provided any information regarding user deposit and withdrawal channels, making it unclear how users can deposit or withdraw funds.

Leverage Ratio Offered by WHIZ FX

This brokerage firm advertises a leverage ratio of 1:200, which is generally higher than the typical regulatory leverage ratios ranging from 1:10 to 1:100. WHIZ FX offers three different types of trading accounts for users, namely STANDARD, PAMM, and ECN. All three account types provide a maximum trading leverage of 1:200 and variable spreads.



WHIZ FX is a forex broker conducting potentially illegal financial activities without effective regulation. The broker does not disclose key information regarding fund safety, deposit and withdrawal channels. WHIZ FX is currently flagged as "Illegally Business" on TraderKnows.
Investors need to exercise caution in choosing this platform for trading, as there is no legal protection in case of issues. TraderKnows advises users to be cautious as WHIZ FX is a highly risky forex broker, and it is recommended to steer clear of this platform to avoid financial losses.



Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End


Pig Butchering Scam

The 'Pig Butchering Scam' is a type of financial fraud that originated in Southeast Asia, but has now become prevalent globally. The name stems from the scammers' method of dealing with their victims: similar to raising pigs, they first 'fatten' them by building trust, and then 'slaughter' them by swindling away all their money.


Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.


Contact Us

Social Media