Reported as a scam / unregulated
Why SouqFX is on the register
SouqFX states that it is incorporated in Saint Lucia under license number 2024-00268. While we were able to locate this registration in the Saint Lucia International Financial Centre (IFC) registry, this is not a financial license, but only confers International Business Company (IBC) status. The Saint Lucia IFC does not regulate or license forex trading activities, nor does it supervise financial service providers. Therefore, referring to this IBC registration number as a license number is misleading and may give investors a false sense of regulatory protection. Given the absence of any valid financial services authorization, SouqFX exhibits strong indicators of being an unregulated or potentially fraudulent broker.
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 to the right next step. 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.