Fivoro Forex Broker

Fivoro Forex Broker - Complete Information Guide

1. Broker Overview

　　Fivoro is an online trading platform that has been operational since 2020. The company is registered under the name Urvashi Limited and is headquartered at 25 North Colonnade, London, E14 5HD, United Kingdom. Fivoro operates primarily in major markets such as London, Amsterdam, and Toronto, catering to a diverse clientele that includes retail traders and investors interested in a wide array of financial instruments.

　　Despite its claims of providing a comprehensive trading experience, Fivoro has faced numerous challenges and criticisms since its inception. The broker positions itself as an all-in-one trading solution, offering access to various trading assets, including Forex, CFDs, and cryptocurrencies. However, the lack of regulatory oversight raises significant concerns about its operational legitimacy.

　　Fivoro operates as a private entity and does not appear to be publicly traded. The company claims to offer a user-friendly platform designed for novice traders, but the absence of key information regarding its management and operational history raises red flags. The business model primarily revolves around retail forex trading, but it also includes offerings in commodities, stocks, and indices.

2. Regulatory and Compliance Information

　　Fivoro is not regulated by any recognized financial authority, which is a significant concern for potential investors. Various regulatory bodies, including the Financial Conduct Authority (FCA) in the UK and the British Columbia Securities Commission (BCSC), have issued warnings against the broker for operating without proper authorization.

• FCA Warning Date: May 6, 2023
• BCSC Warning Date: March 23, 2023
• Regulatory License Number: Not applicable, as Fivoro lacks a valid license.

　　The broker claims to be registered in Saint Vincent and the Grenadines, a jurisdiction known for its lax regulatory environment, making it a common destination for unregulated brokers. Fivoro does not provide details about customer fund segregation or participation in investor compensation schemes, which is a standard practice among regulated entities. Furthermore, there is no clear information available regarding its compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, further emphasizing the risks associated with trading through this platform.

3. Trading Products and Services

　　Fivoro offers a range of trading products designed to appeal to various investor interests. The broker claims to provide access to over 100 trading assets, including:

• Forex Pairs: Major currency pairs such as EUR/USD and USD/JPY.
• CFD Products: Indices, commodities, stocks, and cryptocurrencies.
• Cryptocurrency Options: Popular cryptocurrencies like Bitcoin and Ethereum, along with lesser-known altcoins.

　　While Fivoro markets itself as offering diverse trading options, the specifics regarding the trading conditions for these products remain vague. There is no information on how frequently new products are added or updated, nor is there a clear outline of the retail trading services provided. The absence of a demo account further limits the ability of potential clients to test the platform before committing real funds.

4. Trading Platform and Technology

　　Fivoro utilizes a web-based trading platform that lacks the advanced features commonly found in industry-standard platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Users have reported that the platform is basic and does not provide sufficient tools for effective trading.

• Mobile Application: There is no mention of a dedicated mobile app for iOS or Android users.
• Execution Model: The broker's execution model is not clearly defined, raising concerns about transparency and reliability.
• Server Location: The specific server locations and technical infrastructure details are not disclosed.

　　The absence of API access and automation trading support indicates that Fivoro may not be suited for more experienced traders looking for advanced trading functionalities.

5. Account Types and Trading Conditions

　　Fivoro offers several account types, each with varying minimum deposit requirements:

• Student Account: Minimum deposit of $250.
• Standard Account: Minimum deposit of $5,000.
• Investor Account: Minimum deposit of $10,000.
• VIP Account: Minimum deposit of $50,000.
• VIP Platinum Account: Minimum deposit of $100,000.

　　The trading conditions, including spreads and commissions, remain largely undisclosed, which is a common tactic among unregulated brokers. Fivoro offers a leverage ratio of up to 1:500, which significantly exceeds the limits set by reputable regulators, thus posing a higher risk to traders. There is no information available regarding overnight fees or the minimum trade size, which are essential for traders to understand the cost of trading with this broker.

6. Fund Management

　　Fivoro claims to support various deposit methods, including:

• Bank Transfers
• Credit/Debit Cards
• Cryptocurrency Payments

　　The minimum deposit requirement varies depending on the account type, starting at $250. However, the broker does not provide clear information on deposit processing times or any associated fees.

　　Withdrawal methods and their limitations are also not specified, which raises concerns about the ease of accessing funds. Users have reported difficulties in withdrawing funds, a common issue with unregulated brokers. The processing times for withdrawals remain unclear, and any fees associated with withdrawals are not openly disclosed.

7. Customer Support and Educational Resources

　　Fivoro offers customer support through several channels:

• Email Support: support@fivoro.com
• Phone Support: Multiple international numbers, though user experiences suggest these may not be reliable.
• Live Chat: Available on the website, but response times and effectiveness have been criticized.

　　The broker does not appear to provide robust educational resources or market analysis services. There is no mention of webinars, tutorials, or any materials that would assist traders in developing their skills or understanding market dynamics.

8. Geographic Coverage and Restrictions

　　Fivoro claims to operate in various international markets, but it is not authorized to accept clients from certain regions, including the United States. The broker has multiple office addresses listed, including locations in London and Amsterdam; however, these addresses have been flagged as potentially misleading or fake.

　　In conclusion, Fivoro broker presents numerous red flags that potential investors should be aware of. The lack of regulation, transparency in trading conditions, and customer support issues highlight the risks associated with engaging with this broker. Investors are strongly advised to conduct thorough due diligence and consider regulated alternatives to ensure the safety of their funds.