Review summary
SovyFX is a retail broker registered in Australia, claiming an operational history of 5-10 years. According to WikiFX data, SovyFX holds a very low overall score of 1.61 and operates without any valid, authoritative forex trading licenses. Public exposure from users details numerous account issues, primarily focused on fund withdrawal difficulties and account access problems. This combination of a complete lack of regulatory oversight and significant user-reported operational issues presents a considerable level of risk for potential investors. Note: Regulatory status, trading conditions, and risk assessments may vary by jurisdiction. The WikiFX score reflects currently available information.Please verify all entity details independently before trading. (Updated: 2026-04-11)
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Andy LAM (CPA Aust.)
Hong Kong
I applied for withdrawal many times from February to March, yet my applications were rejected by the platform with many different excuses, such as don’t pass audits. I can’t contact the customer service in the end. I made a loss of over $3000. How can I get compensation??
Exposure
FX2463774826
Hong Kong
The company boasted a fund security of isolated account, i.e., even though it went bankruptcy, we could get our fund back. Now, the fund is doomed. Our hard-earned money was simply scammed by a gang of fraud. So heinous!
Exposure
off the world
Hong Kong
The broker kept holding off with the excuse of bank verification covid-19. I paid 30 thousand yuan for VIP registration. Now several billion was gone. Hope this fraud be on exposure.
Exposure
FX2463774826
Hong Kong
The platform encouraged clients to deposit and changed the receipt irregularly. One can view the trading on MT4. It inveigled clients to join through so-called crude oil and WTI trading and lectures about which 2000 person was claimed to attend. With the server located in America, it claimed that it is regulated by the Dubia’s government, with its platform based in Australia and MT4 in HK. I thought it is a fraud. Hope you stay away!
Exposure
FX7629246104
Hong Kong
The platform has delayed the withdrawal since February with the excuse of KYC verification. Then it released the notice that the trading is unavailable yesterday, leading to unavailable withdrawal.
Exposure
112233
Hong Kong
The withdrawal is unavailable for months due to the KYC verification. The broker must have absconded.
Exposure
沈老师
Hong Kong
It says that money can’t be withdrawn during the pandemic and the customer service staff are on vacation during the 3rd April to 6th April, the Qingming Festival.
Exposure
沈老师
Hong Kong
The funding accounts of SovyFX is changed frequently. The so-called isolated account is just the excuse for absconding.
Exposure
沈老师
Hong Kong
SovyFX is scam platform, only to covet your fund.
Exposure