Efforex (clone of FCA authorised firm) could be a Scam
This broker features on one or more blacklists from a regulator
This broker is not regulated and has several press releases about them that indicate they are not a responsible broker. At this time we do not recommend opening a new account or continuing to trade with this broker.
Efforex (clone of FCA authorised firm) is black listed by FCA, and we recommend you do NOT trade with this broker. We source our information from the FCA in the UK and CySEC in Europe, however, this list is growing to include many other regulators and additional "blacklist" of brokers which aim to scam traders.
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Trade With A Regulated Broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.