Is OX Securities a scam?

No, not on the evidence available, and this is a genuinely different answer from most of the reviews on this site. OX Securities holds a real Australian licence and publishes real pricing. The problem is narrower and still serious: the licence does not cover retail clients.

The structure

Ox Securities Pty Ltd holds ASIC AFSL 438402 and states on its own Australian site that it "is authorised to provide services to wholesale clients only". In Australia that broadly means $500,000 invested, or $2.5 million in net assets, or $250,000 income, certified.

Ox Securities Ltd, in St Vincent and the Grenadines, is who everybody else contracts with. The site says so: "This website is owned and operated by Ox Securities Ltd with registered office address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines - 25509 BC 2019."

It also states, accurately, that the SVG entity "is not authorised or regulated by the Australian Securities and Investments Commission (ASIC)". That disclosure is to the firm's credit.

Why St Vincent is not regulation

The St Vincent FSA does not license or supervise forex at all. "25509 BC 2019" is a business company registration, which is a filing rather than an authorisation. For a retail client that means no capital requirements, no client money rules, no compensation scheme, no ombudsman and no register to check.

The CFTC listing

On 29 May 2025 the CFTC added two entries to its RED List, both naming oxsecurities.com: "OX Securities Limited (SV)" and "OX Securities Pty Ltd". The list covers firms the CFTC believes solicit US customers without required registration. The CFTC notes that listing does not mean any violation has been established.

The ASIC-licensed entity being listed alongside the offshore one is the notable part.

Leverage

All accounts offer up to 1:500. ASIC caps retail CFD leverage at 30:1 on majors, so this figure is available only because the account sits outside ASIC's reach.

What it does well

Published spreads and commission (from 1.0 pip standard; 0 pips plus $7 per lot on Pro), $0 minimum deposit, named payment providers, MT4 and MT5, a named entity with a real address, and an explicit statement of the ASIC boundary. That is more disclosure than most offshore brokers offer.

What to do before funding

Read the entity name on the client agreement rather than the logo on the site. Ask in writing whether funds are segregated, at which bank, and in which entity's name. Do not rely on AFSL 438402, which is real and is not yours. If you are in the United States, do not deal with this firm.

The full rating and the pillar scores are in our OX Securities review, and the method is at our scoring method.