Is FXRoad a scam?

We rate FXRoad High Risk. There is no regulator notice naming FXRoad itself, and the important fact about it is who it shares a company with.

FXRoad and Capitalix are the same company

FXRoad is operated by 4Square SY Ltd under FSA Seychelles licence SD052. So is Capitalix.

We checked the FSA Seychelles public list of licensed securities dealers directly. 4 Square SY Limited is listed with the trade names CAPITALIX and FXROAD, both properly declared against the one licence, at CT House, Office 9A, Providence, Mahe.

Two brands on one declared licence is legal and correctly disclosed to the regulator. What it means for you is worth spelling out:

• One balance sheet. The two websites do not represent two companies. If 4Square SY Ltd fails, both fail at once, and Seychelles has no compensation scheme to pay clients of either.
• Shared conduct history. Chile's Comisión para el Mercado Financiero published a notice about Capitalix on 27 June 2023, and Capitalix's Trustpilot rating was removed for a guidelines breach with 94% of 349 reviews at one star. That is the record of the company you would be contracting with, whichever brand name is on the website.

Opening an FXRoad account instead of a Capitalix account does not move you to a different firm.

One correction worth carrying

Licence SD052 has been reported elsewhere as expired since May 2024. The FSA Seychelles register lists it as current. We checked. The problem with FXRoad is not a lapsed licence, and repeating that claim would be wrong.

The terms

Minimum deposit $250, leverage to 1:200, no compensation scheme, and segregation not evidenced.

Before you deposit

Open the FSA Seychelles licensed securities dealer list, find SD052, and read the trade names on the entry. It takes a minute, and it tells you something the FXRoad website does not.

The full rating is in our FXRoad review.