Broker Review

ELITE FX accessable at elite-fx.biz claims itself as a trading platform. They are offering trading in foreign exchange, futures, CFDs, and other financial contracts services. At the time of investigating the issue, we only have a cursory look at Elite FX as the company’s official website (https://elite-fx.biz/ ) does not open properly.

During our investigation we have found that on 11th October of 2024, The FCA (Financial Conduct Authority) on their website clearly mentioned about ELITE FX that “This firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams.” in their news article. These warnings indicates that ELITE FX is not regulated at all dispute their claim on their website.

ELITE FX in their website claiming it’s operating based on UNITED KINGDOM but all firms operating in UK much be get authorization from FCA. Which means ELITE FX operating as an unauthorized financial entity.

Upon further investigation we also found that the domain elite-fx.biz is registered on 15th August of 2023 and currently waiting for deletion. Also noticable fact is that the company is showing no information for their Domain Registration. The only Registration information we got is the State: Delaware and the Country: USA which is contradictory with their claimed UK address on their website.

From multiple sources, elite‑fx.biz (also referred to simply as “Elite FX”) appears to be a forex/CFD trading broker or investment platform.

Some claimed features:

• They say they offer trading via MetaTrader 4 (MT4) platform.

• They have multiple account types (Micro, Mini, Standard) according to certain reviews. Their site has offered bank transfer as a payment method.

Key Concerns and Red Flags

There are several serious warnings and problematic signs raised by third‑party reviewers and regulators.

1. Lack of regulation / no valid license
   Elite‑fx.biz is repeatedly flagged for not being regulated by any recognized financial authority. 
   This means there may be no legal oversight, limited or no protection of client funds, and difficulty for users to seek recourse in case of issues.

2. High spreads, opaque conditions
   The spreads (difference between buy and sell price) for major currency pairs are reportedly quite high (e.g., starting at ~3 pips for EUR/USD) compared to other brokers. 
   Also, they don’t appear to clearly state some important terms, such as minimum deposit for certain accounts, fees, etc.

3. Website issues, communication issues

   • Some reviews state that the site is not reliably accessible.

   • Customer support seems limited, often just via email, with no strong evidence of responsive, effective support.

Verdict / What This Means

Putting together what’s public:

• There is reasonable evidence that elite‑fx.biz may pose significant risks to investors due to its lack of regulation, past complaints, and non‑transparent business practices.

• If someone were considering using this broker, they should be very cautious. Losing funds, difficulty withdrawing, or getting misleading information are real concerns highlighted by others.