Desk file · 2026 edition · record confidence: low
Fondex
We opened the file on Fondex the way we open every file: register first, marketing never. Trading since not verified, run out of Limassol, Cyprus, and carrying 2 licence entries on the public record, 0 of them tier-1.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | not verified |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | not verified |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | not verified |
Spread basis. . Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| CySEC | 138/11 | Cyprus | T2 | TopFX Ltd | topfx.com |
| FSA Seychelles | Seychelles | T3 | TopFX Global Ltd | fsaseychelles.sc |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- Fondex is a trade name associated with the TopFX group in Cyprus; TopFX Ltd's own risk disclosure states it is authorised and regulated by CySEC under licence number 138/11.
- The Seychelles FSA register page previously indexed as Fondex Limited now resolves to TopFX Global Ltd, listed as a Securities Dealer (checked 9 August 2026).
- Fondex's own website did not load over several fetch attempts on 9 August 2026, so no figures were taken from it.
- Fondex marketed a single commission-based account on the cTrader platform.
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- founded
- minDeposit, spreadEurusd, accountTypes — Fondex site unreachable
- Seychelles FSA licence number
- segregatedFunds and negativeBalanceProtection
- current status of the Fondex brand
- negative balance protection
| Founded | not verified |
| Head office | Limassol, Cyprus |
| Minimum deposit | not verified |
| Leverage cap | 1:30 (CySEC retail) |
| EUR/USD | not verified pips |
| Tier-1 entries | 0 |
| Record confidence | low |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.