Reported as a scam / unregulated
Why Foraxi is on the register
Foraxi makes no clear claims regarding regulatory oversight and only provides a Hong Kong address and a phone number registered in United Kingdom. To verify its legitimacy, we conducted checks with the relevant authorities, including the Securities and Futures Commission (SFC) of Hong Kong and the Financial Conduct Authority (FCA) of the United Kingdom. Our search did not return any record of a licensed entity associated with Foraxi under either jurisdiction. This indicates that Foraxi is operating without proper authorization from any recognized regulatory body and is likely engaging in forex trading activities illegally. Therefore, Foraxi appears to be a fraud.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.