AdroFx claims to be authorized and regulated in various jurisdictions.
1) Adro M Group LLC is incorporated in St. Vincent and the Grenadines by the Registrar of International Business Companies, and registered by the Financial Services Authority (SVG FSA);
2) Adro Markets Ltd is regulated by the business Services of Saint Lucia Act, Cap/No.2020-00157;
3) ADROMKT Limited, Company number 700546 is regulated and licensed by Vanuatu Financial Services Commission (VFSC).
Regarding the mentioned regulations, we'd like to remind traders that neither SVG FSA nor Saint Lucia regulates or licenses international companies and brokers engaging in forex activities.
In terms of the Vanuatu regulation of this broker, we indeed found a matching result from VFSC registry. However, VFSC is a popular offshore regulator among forex brokers as capital (or bond) requirements are relatively small. So VFSC-regulated brokers are actually not under as strong regulation as FCA, ASIC and NFA regulated brokers. Most importantly, some shady brokers will falsely use regulatory information of a licensed broker by VFSC, as this regulator provides neither authentication details nor domains of registered company for traders to verify. Consequently, it is not a hundred percent sure that the licensed entity is the one that runs the business under the trading name of AdroFx.
Moreover, the United Kingdom Financial Conduct Authority (FCA) issued a warning that AdroFx was providing financial services or products in the UK without authorisation. You can check the full warning from here.
Overall, it is of certain risk to trade with AdroFx, and we would recommend to choose strongly regulated brokers. If you would like to know more details of this broker, please check our full AdroFx review.
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