Is Elefin safe and legit? Full review
Elefin is a Saint Lucia-based broker regulated by The Financial Services Regulatory Authority (FSRA), and it was established in 2026. The broker offers two account types with a minimum deposit starting at $50 and maximum leverage of up to 1:2000, and both accounts support hedging, scalping and EA trading. Trading runs on the MT5 platform under a full MT4/5 license, with servers located in the United Kingdom and the Netherlands. Customer service is available in English through phone, email, and social channels, although response times may be lengthy, and the platform lacks biometric login such as fingerprint or Face ID.
Regulatory Compliance and Security
Elefin is regulated by The Financial Services Regulatory Authority in Saint Lucia. The regulatory status is listed as Regulated, with a safety level of Level 1.
Account Type
Elefin offers 2 types of accounts:
Trading software
Elefin uses the MT5 trading platform under a Full License MT4/5 qualification, and the software experience is rated as Perfect. The platform is highly customizable, available in multiple languages, and offers clear expense reports, though it lacks two-step login and biometric authentication.
MT4/5 Server Distribution:
- Elefin-Trade — MetaTrader5 (United Kingdom)
- Elefin-Trade — MetaTrader5 (Netherlands)
Customer Service
Elefin's customer service supports 7 languages and 1 region. You can contact the team via phone, email, X, Facebook, Instagram, YouTube, and WhatsApp, though response times may be lengthy.
⚠️ Note: Most users can receive a response, but the waiting time may be lengthy.