Global Broker Regulation Inquiry App

WikiFX

No Regulation

SouqFX

1-2 years

Suspicious Regulatory License MT5 Full License Regional Brokers High potential risk

Score

0 1 2 3 4 5 6 7 8 9

/10

MT4/5 Identification

Full License

Time Machine Website

Licenses

No valid regulatory information, please be aware of the risk!

Warning: Low score, please stay away!

Previous Detection 2025-12-14

Risk Manage 1

Basic Information

Registered Region

Saint Lucia

Operating Period

1-2 years

Company Name

SOUQ FX Ltd

Customer Service Email Address

info@souqfxpro.com

Contact Number

+447473124681

Company Website

https://souqfxpro.com/

Related Software

Website

Company Summary

Wiki Q&A

Comment

MT4/5

Full License MT5

MT4 Servers

MT5 Servers

176.00

Average execution speed/ms

Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong

Meta Trader 5

Perfect

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Details

Official website

Website

souqfxpro.com

Server IP

172.67.198.152

Server Location

United States
ICP registration

--
Most visited countries/areas

--
Domain Effective Date

--
Website

--
Company

--

Company Summary

SouqFXReview Summary
Founded	2024
Registered Country/Region	Saint Lucia
Regulation	No regulation
Market Instruments	Forex, indices, cryptocurrencies, commodities, shares & ETFs, treasuries
Demo Account	❌
Leverage	/
Spread	From 0 pips
Trading Platform	MT5
Min Deposit	/
Customer Support	Linkedin, facebook, instagram, X, youtube, tiktok
	24/7 customer support
	Tel: +44 7473 124681
	Email: info@souqfxpro.com

SouqFX Information

SouqFX is an unregulated broker, offering trading on Forex, indices, cryptocurrencies, commodities, shares & ETFs and treasuries with spread from 0 pips on MT5 trading platform.

Pros and Cons

Pros	Cons
Tight spreads	No regulation
Various contact channels	No demo accounts
MT5 platform

Is SouqFX Legit?

No. SouqFX currently has no valid regulations. Please be aware of the risk!

What Can I Trade on SouqFX?

SouqFX offers trading on Forex, indices, cryptocurrencies, commodities, shares & ETFs and treasuries.

Tradable Instruments	Supported
Forex	✔
Indices	✔
Cryptocurrencies	✔
Commodities	✔
Shares & ETFs	✔
Treasuries	✔
CFDs	❌
Bonds	❌
Stocks	❌

Account Type

The broker has not clearly provided the account types it offers, only shown that it has swap-free accounts.

Leverage

The broker has not clearly provided the leverage it offers. It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.

SouqFX Fees

Trading Fees

The broker says that it requires no additional fees.

SouqFX Spreads

The spread is from 0 pips.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔	App Store, Google Play, Windows, Web	Experienced trader
MT4	❌		Beginners

Deposit and Withdrawal

No minimum deposit or withdrawal amount defined and no fees or charges specified. Please be aware of the risk!

Keywords

1-2 years
Suspicious Regulatory License
MT5 Full License
Regional Brokers
High potential risk

Wiki Q&A

Phoebe Yao

1-2 years

Is SouqFX a regulated broker?

WikiFX Reply

No, SouqFX is unregulated, which is a significant concern for me as a trader. Regulation is important because it ensures that the broker is adhering to financial standards and provides a layer of protection for my funds. Without regulation, I feel that my money is at risk.

What platforms does SouqFX provide?

WikiFX Reply

SouqFX supports the MT5 platform, which is great for experienced traders who need advanced features for analysis and trading. I personally like MT5 for its versatility, but beginners might find it overwhelming.

What demo account does SouqFX offer?

WikiFX Reply

SouqFX does not offer a demo account, which is a big downside for me. Demo accounts are essential for practicing and testing the platform without risking real money. I personally would prefer brokers that offer demo accounts, especially when starting out.

Does SouqFX have any cons?

WikiFX Reply

The biggest con for me is that SouqFX is unregulated, which is a huge red flag. Also, they don’t offer a demo account, which I find very limiting, especially for new traders. Not having clear information on leverage and minimum deposit requirements also makes it hard for me to assess the full cost of trading with them.

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