Frax Trade

Frax Trade is a forex and multi-asset broker registered in the United Kingdom, with its official address at M Milas, 88a Meadow Street, Preston, United Kingdom, PR1 1TS. According to available records, the company was founded on January 3, 2025, making it a very recent entrant to the industry. Notably, the broker reports zero employees, which raises immediate questions about operational capacity and customer support.

The firm operates under the legal name Frax Trade. There is no publicly available information regarding its parent company or any corporate group structure, adding to the opacity surrounding its operations. Given the lack of staffing and very recent establishment, traders should approach this broker with extreme caution.

Frax Trade does not hold any verified regulatory license from any recognized financial authority. Our checks against global regulatory databases confirm zero licenses on file. While the broker is registered in the UK, it is not authorized or regulated by the Financial Conduct Authority (FCA) or any other tier-one regulator.

This absence of oversight means traders have no recourse through official compensation schemes or ombudsman services in the event of a dispute. Unregulated brokers pose a significantly higher risk of scams, fund misappropriation, and unfair practices. The FXCanary Scam Risk Score of 75/100 (Severe) reflects this extreme regulatory deficiency, and we advise traders to avoid unregulated entities entirely.

Frax Trade offers four account tiers: Classic, Optimum, Pro, and Vip. The Classic account requires a minimum deposit of USD 250 and offers a maximum leverage of 1:200, spreads from 0.5 pips (raw) with no commission. The Optimum account steps up with a minimum deposit of USD 2,500, leverage up to 1:200, spreads from 1.5 pips, and no commission.

The Pro account demands a USD 5,000 minimum, leverage 1:200, spreads from 0 pips, but charges a USD 3.5 commission per side. The top-tier Vip account requires USD 10,000, offers the same leverage and raw spreads from 0, and also charges USD 3.5 per side commission. All accounts provide access to a wide range of instruments including 45 currency pairs, stocks, ETFs, options, fixed income, and over 8,000 mutual funds.

Leverage is fixed at 1:200 across all accounts. While the account offerings appear detailed, the lack of regulatory oversight means there is no independent verification of these conditions, and traders have reported severe issues with withdrawals and trust.

Frax Trade does not disclose specific deposit or withdrawal methods on its website or in verified sources. The absence of such basic information is a major red flag, as legitimate brokers clearly outline accepted payment methods (e.g., bank wire, credit cards, e-wallets). Based on user reviews, one trader reported depositing Solana (SOL) after being contacted via Instagram, suggesting that cryptocurrency deposits may be used.

Withdrawal complaints dominate user feedback: multiple reviewers state that withdrawals are blocked, delayed for months, or outright denied. One review explicitly says: 'NO PAYMENT. Still no transfer after months with several requests to do so.

Always, delay, delay, other excuses and/or (illegal) requirements.' This pattern strongly suggests that user funds are at risk.

According to the broker's official account specifications, Frax Trade offers trading in 45 currency pairs, stocks, ETFs, options, fixed income, and over 8,000 mutual funds. The instrument range is unusually broad for a new broker, especially one with no employees or regulation. Typically, such expansive offerings require sophisticated infrastructure and financial backing that this broker appears to lack.

No information is provided about the trading platform (e.g., MetaTrader 4/5, cTrader, or proprietary software). The lack of platform details, combined with user reports of being directed to a website via Instagram, suggests a possible white-label or custom front-end that may not be reliable. Traders should be extremely wary of any broker that does not clearly state the platform it uses.

Frax Trade's fee structure varies by account type. The Classic and Optimum accounts have spreads from 0.5 and 1.5 pips respectively with no commission. The Pro and Vip accounts offer raw spreads from 0 pips but charge a commission of USD 3.5 per side.

Leverage is capped at 1:200 for all accounts. While these spreads and commissions are seemingly competitive, the credibility of these figures is undermined by the broker's unregulated status. One user review indirectly mentions fees as part of a scam narrative, but no concrete numbers are given.

Given the severe withdrawal issues, any cost advantage is irrelevant if the trader cannot access their funds. Hidden fees or inflated spreads on actual trades could also occur without regulatory checks.

As of the latest data, Frax Trade has a Trustpilot rating of 2.1/5 from 14 reviews, with no 4- or 5-star reviews. All written reviews are 1-star and express outrage over being scammed, blocked withdrawals, and empty promises. One reviewer states: 'I was fueled by pure rage.

It all started on Instagram. I connected with someone who offered to show me the ropes of staking rewards. To build trust, they forwarded 6.94 SOL to my wallet to register on their platform.

I followed their lead...' and later mentions Topciphertrails recovering funds. Another simply says: 'Fraudulent exchange. No withdrawal.

Please be vigilant.' The Forex Peace Army score is listed as None/5, indicating no reputation data. The user sentiment uniformly paints Frax Trade as a scam operation. Withdrawal complaints (3), scam concerns (2), speed delays (1), and deposit issues (2) dominate the limited feedback.

Frax Trade is assessed as having a Severe Risk (75/100) based on three critical factors: zero regulatory licenses, extremely negative user feedback (thematic scam allegations and frozen withdrawals), and a company profile with no employees and only days of operation. The broker appears to be a newly created entity associated with social media-driven investment schemes. The overwhelming evidence from real reviews indicates that most users lose their money or are unable to withdraw.

We strongly advise traders to avoid Frax Trade entirely and to only transact with fully regulated brokers. If you are already involved, consider contacting relevant authorities such as the UK's Action Fraud and be aware that fund recovery may be difficult. No legitimate broker operates with zero employees and no regulation.