Is PatronFX safe and legit？ Full review
PatronFX is a Cyprus-based broker established in 2015 and regulated by the Cyprus Securities and Exchange Commission (CYSEC), with two regulatory disclosures recorded in 2022 and 2024. Account opening is easy and fully digital, and traders can choose from four account types. The platform uses MT4 software, though iOS, Android, Windows, MacOS, Web, and other applications are not supported. Customer service is available in English. The broker's influence is mainly distributed in Turkey, with an average influence index of 4.35 and an overall rating of D. Its noted strengths include CYSEC regulation, multiple account types, and a long operating history, while its drawbacks include negative regulatory disclosures and the absence of biometric login such as fingerprint or Face ID.
Regulatory Compliance and Security
PatronFX is regulated by the Cyprus Securities and Exchange Commission (CYSEC), and its safety level is Level 1. The regulator supervises FOREX TB Ltd. The broker also carries two regulatory disclosures, including a warning from Poland's KNF in 2024 for operating without registration in Poland, and a CYSEC settlement of €270,000 in 2022 related to possible violations of investment services legislation.
Account Type
PatronFX offers 4 account types.
Trading software
PatronFX uses the MT4 trading platform, and holds an MT4/5 qualification. This review uses the MT4 trading platform, which is highly customizable, available in multiple languages, and has clear expense reports. It has a good search function and clear expense reports but lacks two-step login and biometric authentication. The software experience is rated as Perfect.
MT4/5 Server Distribution:
- ForexTB-Live (Ireland)
- ForexTB-Live (Singapore)
- ForexTB-Demo (Ireland)
- ForexTB-Live (United Kingdom)
- ForexTB-Demo (United Kingdom)
- ForexTB-Live (Belgium)
- ForexTB-Live (Germany)
- GSForex-Live (United Kingdom)
- GSForex-Demo (United Kingdom)
Customer Service
PatronFX's customer service supports 1 language, English. You can contact them via email for answers to most inquiries; however, please note that response times may be lengthy.
Influence
The influence of PatronFX is mainly distributed in Turkey, with an average influence index of 4.35 and an overall rating of D.
5-10 years
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