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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchAFX Markets is not a broker I would recommend treating as low-risk. Its current websites say that trading services are provided by Mauritius-registered afx Markets Ltd, formerly Vortex Inc., under Mauritius FSC licence number GB19024587. However, that claim should be checked directly against the regulator’s current register before depositing money.
The main concern is not a proven finding that the current Mauritius entity is a scam. It is the combination of offshore regulation, limited investor protection, uncertainty around the relationship between its domains, and a confusing history involving a separate UK AFX company that failed in 2019.
What is AFX Markets?
AFX Markets presents itself through more than one website. The informational site at afx.markets covers forex, metals, indices, commodities, MetaTrader 5, trading conditions and educational material. It says that it does not itself open accounts, accept deposits, authenticate clients or provide a web trading terminal.
The operational website, afx.com, contains the account registration and login links. Those links lead to my.afx.com, which is presented as the AFX portal.
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This structure is not automatically evidence of wrongdoing, but it is an identity check that a prospective customer should complete before sending funds. Confirm that the domain shown during registration, payment and withdrawal matches the legal entity and licence information you have independently verified.
Who operates the broker?
The current sites state that the operator is afx Markets Ltd, previously known as Vortex Inc. The stated Mauritius company number is 174130 GBC. The published registered address is:
5th Floor, The CORE, No. 62, ICT Avenue, Cybercity 72201, Ebene, Republic of Mauritius.
The same company details and address appear on the associated AFX.com website and in an independent LEI record for afx Markets Ltd.
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AFX Markets says that afx Markets Ltd holds a Mauritius Financial Services Commission investment-dealer licence described as a Full-Service Dealer, Excluding Underwriting, licence number GB19024587.
That should be reported as a company claim until you confirm it in the FSC Mauritius Register of Licensees. During the research for this review, the regulator’s online register returned a 403 access response, so the licence could not be independently confirmed through a successful live register lookup.
Even if the licence is current, Mauritius regulation does not put this broker in the same category as a firm authorised by the UK FCA, CySEC, ASIC, or the U.S. NFA and CFTC. The current website does not claim any of those authorisations. Its legal information also says the operator is not established in the European Union or regulated by an EU authority.
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| Question | What the available information shows |
|---|---|
| Named operator | afx Markets Ltd, formerly Vortex Inc. |
| Jurisdiction | Mauritius |
| Stated company number | 174130 GBC |
| Stated regulator | Financial Services Commission of Mauritius |
| Stated licence | GB19024587 |
| FCA, CySEC, ASIC, NFA or CFTC authorisation | Not claimed by the current website |
Products and trading platform
The current AFX Markets site advertises MetaTrader 5, including desktop, browser, iOS and Android access. The listed markets include:
- Forex
- Metals
- Indices
- Commodities
It does not publish one universal spread, leverage figure or execution figure that applies to every customer. Instead, traders are directed to the connected MT5 account and symbol specifications for details such as contract size, tick size, volume limits, margin, swap and trading sessions.
That means a trader should not assume that a spread shown in a general marketing page will be the spread available on their account. Check the actual MT5 symbol specifications and, if possible, test a small withdrawal before committing a larger balance.
A notable difference between the two websites
The afx.markets site mainly describes conventional MT5 trading. The afx.com site also promotes investment strategies. One diversified GBP strategy says that 40% is allocated to a “Capital Reserve Account” offering a 2% monthly return, with the rest divided between Medium Risk, High Risk and High Risk+ strategies.
This is materially different from simply offering self-directed forex and CFD trading. A promised or stated monthly return should be examined particularly carefully: ask whether it is guaranteed, where the money is held, how it can be withdrawn, what risks apply, and which legal entity is responsible. Do not treat a “capital reserve” label as equivalent to a bank deposit guarantee or protected client-money account.
Does AFX Markets accept U.S. customers?
No. The afx.com terms state that afx Markets Ltd does not provide services to residents of the United States, Canada, Russia, Myanmar, Australia, New Zealand, Iran, North Korea, Cuba, Sudan or Syria. Other jurisdictions may also be excluded.
For U.S. readers, the practical conclusion is simple: the broker’s own website says U.S. residents are not accepted. A website being accessible from the United States does not mean the company is authorised to solicit or serve U.S. customers.
What about the old UK AFX Markets failure?
This is where many online reviews become inaccurate. A separate company, AFX Markets Limited, was authorised by the UK FCA and entered special administration in 2019.
According to the FCA, that UK firm had been authorised since May 2012. On 31 July 2019, the FCA required it to stop regulated activities except for closing open positions and froze its assets. On 27 August 2019, the High Court appointed special administrators. The FCA cited concerns about the firm’s financial position and client-money arrangements.
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The FSCS later recorded the UK company as failed on 24 August 2021 and described compensation arrangements for eligible customers of that UK entity. Customers of the separate Cypriot AFX Capital Markets entity were not covered through that particular FSCS process.
Those facts matter when assessing the brand’s history, but they do not by themselves prove that the current Mauritius company is the same legal entity or that its current websites are fraudulent. The two should be kept separate:
- AFX Markets Limited: former UK FCA-authorised company placed into special administration in 2019.
- afx Markets Ltd: Mauritius company currently identified by the AFX.com and AFX.markets websites.
Warnings that should not be attributed to this broker without checking the domain
Several warnings involving similar names are often combined incorrectly.
| Warning | Domain or entity identified | Can it automatically be attributed to current AFX Markets? |
|---|---|---|
| Québec AMF warning, August 2024 | afx-markets.com |
No. This is a different hyphenated domain. |
| Central Bank of Ireland warning, October 2025 | “AFEX Markets (Clone)” at afex-markets.com |
No. It uses “AFEX” with an E and concerns a clone entity. |
| Financial Commission warning, July 2022 | AFX Trade LLC and afxtrader.com |
No. This concerns AFX Trade, not the current Mauritius entity. |
These warnings may be useful when checking a website’s identity, but they are not evidence that every business using the AFX name is the same company.
Fees, spreads and execution
The public pages reviewed do not provide a single set of spreads, leverage limits or execution statistics that applies to all accounts. Account conditions can vary by instrument and account type, and the website says the broker server is the practical source for current specifications.
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Before trading, check these items inside MT5:
- The live spread on the symbols you plan to trade
- Contract size and minimum trade volume
- Required margin and leverage
- Swap or overnight financing charges
- Trading sessions and market closures
- Stop-out and margin-call rules
- Whether instruments are CFDs rather than physically owned assets
Marketing language about fast execution or competitive pricing is not a substitute for account-specific data and an independently tested withdrawal process.
How to verify AFX Markets before depositing
- Check the legal name. Confirm that the account agreement names afx Markets Ltd, not an unrelated company or an unexplained intermediary.
- Check the Mauritius licence. Use the FSC Mauritius Register of Licensees and search for the company name and licence number GB19024587. Save a dated copy or screenshot of the result.
- Check the domain. Make sure registration and login links lead to the domain you expect, and do not follow links supplied only through social media or messaging apps.
- Read the withdrawal terms. Look for minimum withdrawals, processing fees, verification requirements and restrictions on third-party payment methods.
- Test with a small amount. A successful deposit says very little. A small, completed withdrawal is more informative.
- Avoid pressure tactics. Be cautious if an account manager demands additional deposits to release profits, pay taxes, unlock a bonus or meet a margin requirement.
- Keep records. Save the account agreement, transaction receipts, platform statements, emails and chat logs.
Complaint process
The current complaints page asks customers to submit a written complaint with the subject line “Complaint”. It asks for the customer’s name, a safe account reference where relevant, the date and time of events, a factual chronology, order or transaction references, supporting documents, the financial impact and the outcome requested.
The published contact route is [email protected]. Do not include passwords or full payment-card details in a complaint.
Final verdict: scam or legit?
There is not enough evidence to call the current AFX Markets operation definitively proven to be a scam. The company has published a specific Mauritius legal identity, address and licence number, and those details have some external corporate-record support.
But that is not the same as saying it is safe or equivalent to a heavily regulated broker. The current operation appears to be an offshore broker whose stated regulatory protection is Mauritius-based. Its multi-domain setup requires verification, and its association with the failed UK AFX company should not be ignored even though the entities should not be treated as identical without proof.
Our verdict: high risk and not suitable for investors who require strong regulatory protection. Verify the licence directly, confirm the contracting entity, understand the withdrawal rules and test withdrawals before considering any larger deposit. U.S. residents should not use it because the broker’s own terms say U.S. customers are excluded.
FAQ
Is AFX Markets a scam?
The available evidence does not prove that the current Mauritius-based AFX Markets operation is a scam. However, it is an offshore, higher-risk broker with a stated Mauritius FSC licence that should be independently verified before any deposit.
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Is AFX Markets regulated by the FCA?
The current website does not claim FCA regulation. A separate UK company called AFX Markets Limited was FCA-authorised but entered special administration in 2019. Do not assume that historical UK authorisation applies to the current Mauritius entity.
What licence does AFX Markets claim to hold?
The websites say that afx Markets Ltd holds Mauritius FSC investment-dealer licence GB19024587. Check the FSC Mauritius Register of Licensees directly because a website claim alone does not establish current regulatory status.
Can U.S. residents use AFX Markets?
The broker’s own terms say it does not provide services to U.S. residents. A U.S. customer should not interpret website accessibility as permission or regulatory authorisation.
Which platform does AFX Markets use?
The current AFX Markets site advertises MetaTrader 5 on desktop, browser, iOS and Android.
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Is the Québec AMF warning about the current AFX Markets website?
The Québec AMF warning identifies afx-markets.com, a different hyphenated domain. It should not automatically be attributed to afx.markets, afx.com or my.afx.com.
The Bottom Line
Bottom line: AFX Markets should be treated as a high-risk offshore broker, not as a top-tier regulated firm. Its websites claim that Mauritius-registered afx Markets Ltd holds FSC licence GB19024587, but verify that claim directly with the regulator and confirm the relationship between afx.markets, afx.com and my.afx.com before depositing. Do not confuse the current entity with the failed UK AFX company or with warnings against similarly named domains.
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