SpecFX (specfx.com) Forex Broker Review
✅ TrustScoreFX Broker Review
🔍 Broker: SpecFX (specfx.com)
Reviewed: June 2025 | Status: 🚫 Scam Alert Issued
1. ⚖️ Regulation & Trust
SpecFX promotes itself as a “reliable and trusted broker” but does not hold or disclose any Tier-1 regulatory license. External investigations confirm:
- ❌ No listing under FCA, ASIC, CySEC, or other top-tier regulators.
- ❌ No documentation on negative balance protection or investor compensation schemes.
- ⚠ Flagged by BrokersView as a SCAM broker due to regulatory absence.
- Rating: ★☆☆☆☆ (1/5)
2. 🏢 Company Transparency
SpecFX is operated by Spec Capitals Ltd, allegedly registered in Saint Lucia under the International Business Companies Act. However:
| Transparency Element | Status |
|---|---|
| Ownership Disclosure | ❌ Missing |
| Headquarters Address | ❌ Not Provided |
| Legal Disclosures (T&C, KYC) | ❌ Incomplete |
| Regulatory Filings | ❌ None |
| Third-Party Audits | ❌ None |
- Transparency Score: 3/10
3. 💼 Account Types & Flexibility
The broker does not publish clear account types or specifications. Assumptions based on industry practice and marketing:
| Feature | Status |
|---|---|
| Minimum Deposit | ❓ Not specified |
| Leverage | ⚠ High (assumed) |
| Spread Type | ✅ Variable (claimed) |
| Swap-Free Accounts | ❓ Not confirmed |
| EA/Algo Trading | ❓ Not confirmed |
| Demo Accounts | ❌ Not offered |
- Flexibility Score: 5/10
4. ⚙️ Trading Experience
No confirmation of platform offerings such as MetaTrader 4/5, cTrader, or proprietary tools. Platform capabilities are vague.
- No desktop, mobile, or web platform demonstrations
- Execution speed is mentioned as “fast,” but not quantified
- No data on slippage, spread history, or execution quality
- Feature Score: 5/10
5. 📈 Instruments Offered
SpecFX claims to support Forex and CFD trading, but no detailed instrument list or asset class breakdown is disclosed.
| Instrument Category | Status |
|---|---|
| Forex | ✅ Claimed |
| Indices | ❓ Unknown |
| Commodities | ❓ Unknown |
| Crypto | ❓ Unconfirmed |
| Stocks | ❓ Not listed |
- Breadth Index: 5/10
6. 💳 Deposit & Withdrawal Process
No public information is available regarding:
- Deposit or withdrawal methods
- Processing times
- Transaction fees
- Refund or cancellation policy
No third-party reviews verifying user experiences were found.
- Transparency Score: 3/10
7. 📚 Education & Tools
There is no educational infrastructure:
- ❌ No webinars or live sessions
- ❌ No market analysis or research
- ❌ No tutorials, indicators, or trade planning tools
- Resource Quality Index: 3/10
8. ☎️ Customer Support
The broker fails to provide:
- Live chat
- Phone hotline
- Email support contact
- Support in multiple languages
| Support Element | Status |
|---|---|
| Live Chat | ❌ Not Available |
| Response Time | ❓ Unknown |
| Multilingual Support | ❓ Unverified |
- Customer Support Rating: 3/10
9. 🌐 Reputation & Complaints
- BrokersView lists SpecFX as a SCAM broker
- No visible Trustpilot presence
- No active community presence in forums like Forex Peace Army
- Domain appears new or rebranded, adding to risk
| Sentiment Type | Description |
|---|---|
| Positive | ❓ Only found on broker site |
| Neutral | ⚠ General market skepticism |
| Negative | ⚠ Based on broker review sites |
- Reputation Score: 3/10
10. 🤝 IB & Affiliate Program
SpecFX provides no mention of:
- Commission models
- Referral tools
- IB dashboards
- Payment systems
- Partnership Appeal Rating: 2/10
11. 🧭 Unique Selling Points (USP)
✅ SpecFX Claims:
- Fast execution (unverified)
- Secure and stable platform (not tested)
- Competitive spreads (not disclosed)
📝 Editorial Commentary
SpecFX makes marketing promises without backing them up with real regulatory or operational substance. The absence of licensing, platform transparency, and client protections makes this broker a high-risk platform. Traders are urged to stay cautious.
12. 📊 Final TrustScoreFX Rating
| Category | Score |
|---|---|
| Regulation & Trust | 1/5 |
| Company Transparency | 3/10 |
| Account Types & Flexibility | 5/10 |
| Trading Experience | 5/10 |
| Instruments Offered | 5/10 |
| Deposit & Withdrawal | 3/10 |
| Education & Tools | 3/10 |
| Customer Support | 3/10 |
| Reputation & Complaints | 3/10 |
| IB & Affiliate Program | 2/10 |
📌 Aggregated TrustScoreFX Rating: 36/100
⚠ Status: 🚫 Scam Alert Issued
Badge: ❌ Not TrustScoreFX Verified
📢 Recommendations for Traders
- ⚠ Avoid registering or depositing with SpecFX until regulatory documents are verified.
- 🛡 If you’re already a user, monitor your account closely and consider withdrawing funds.
- 📬 Contact the broker directly and request transparency before making decisions.
- ✅ Use only brokers that appear in Tier-1 regulatory directories (e.g. FCA, ASIC, CySEC).