In our DecodeFX review, we present a broker that modestly calls itself the “Leader in the Global Forex Trading Industry.” The company believes it has earned this title due to its license obtained in Vanuatu, access to 100+ trading instruments, and support for the MetaTrader 4 platform. However, the real question traders are asking is: Can the information published on the website be trusted? We set out to find the answer. Read on to see what we discovered.
Key Features
- Company Name: Decode Global Limited
- Website: https://decodefx.com/
- Available Contacts: +67823043, [email protected]
- Foundation: 2021
- Services: Forex/CFD trading
- License: Class C from Vanyatu FSC
- Initial Deposit: $100
From Sign-Up to Payout
To be frank, the official DecodeFX website left us disappointed. The issues extend to its design — where colors and images are poorly chosen; functionality — where navigation elements fail to work properly; and content — which lacks essential details.
For example:
- Clicking “Choose Your Account” on the homepage or “Contact Us” on the “About” page instantly reveals poor development work. Instead of being redirected to relevant sections, users encounter a long list of Elementor plugin errors for WordPress. As a result, account details and contact information remain hardly available.
- The “Products” section, which should provide insights into available markets, contains zero information about assets or trading conditions. Instead, it is filled with self-promotion, making it seem like the content managers had nothing relevant to say — let alone publish contract specifications.
- There is no description of a partnership program, no analytics, and no educational materials. It feels as if the site was rushed together and important features were simply forgotten.
While signing up with DecodeFX is easy, non-trading operations remain unclear.
In some countries, the broker offers an impressive list of payment methods, but for most regions, only USDT deposits and withdrawals or bank transfers are available. The company does not disclose its banking details, which raises concerns.
The biggest issue is related to fees:
- The FAQ states a $10 transaction fee.
- However, further down, it lists different fees for different payment methods, depending on the country.
So, which statement should traders believe? Overall, DecodeFX’s website does not resemble that of a regulated broker. Instead, it looks like a promotional landing page with minimal information and numerous technical flaws. This only reinforces doubts about its legitimacy.
Our Trading Experience With DecodeFX
Fortunately, the broker has no issues with its trading platform. It has purchased a MetaQuotes license for MetaTrader 4, offering desktop, mobile, and web versions. Since this software is well-known among traders, we won’t go into details about its pros and cons.
We also appreciated the presence of a demo account, which helps beginners get familiar with the platform and allows experienced traders to develop their own indicators and trading robots. However, when it comes to trading conditions and account types, things get tricky. As mentioned earlier, contract specifications are missing. The account types page does not open due to server errors.
Here’s what we could gather:
- Two account types are available: Standard and Pro.
- The Standard account has zero trading commissions, while the Pro account charges a $7 commission per standard lot (round turn), but with tighter spreads.
- Exact spread values are unknown, as they are not disclosed.
- Swap fees (overnight charges) are also not specified.
- The maximum leverage is 1:500, which poses significant risks to traders.
- The minimum deposit is $100.
- The Stop Out level is set at 50%.
- Automated trading is allowed.
At first glance, this may seem like sufficient information — at least compared to many other brokers. However, the lack of key trading details makes DecodeFX far from a transparent or reliable choice.
There are also a couple of interesting questions:
- If the broker claims that demo and real accounts have identical conditions, why is the maximum leverage lower on demo accounts than on real ones? What other differences have the project’s creators chosen not to disclose?
- When registering, visitors are offered six account types to choose from. However, the Standard and Pro accounts are listed under the “Individual” category. Who are the other accounts intended for, and what conditions apply to them? The official website doesn’t even mention them.
Once again, we see careless disclosure of critical information. And once again, we can’t shake the feeling that regulated brokers don’t operate this way. Such an approach can lead to serious issues with regulatory authorities and drive away potential clients who struggle to find the necessary details. Do the platform’s owners even care?
The Reality Check
If there’s one thing DecodeFX didn’t skimp on, it’s self-promotion. According to information on their website, the company:
- Is registered in Vanuatu and operates under a local regulatory license.
- Holds a financial license from Saint Vincent and the Grenadines (SVGFSA), license No. 25413IBC2019.
- Is licensed as a Money Services Business (MSB) in the U.S. under No. 31000267367123.
First, it seems that DecodeFX representatives don’t realize that SVGFSA does not license or regulate Forex/CFD brokers. What they refer to as a “license” is just a registration number. And this number is not even listed in the financial regulator’s registry — nor is there any company whose name starts with “Decode.”
The MSB registration under No. 31000267367123 does indeed belong to a company called Decode Digital Markets USA Inc. However, there are two key issues. This registration does not grant brokerage rights. To legally provide brokerage services in the U.S., a company must hold a SEC or NFA (FINRA) license. Of course, DecodeFX does not have these documents.
It’s unclear how this U.S.-registered company is connected to the DecodeFX broker or its parent company. The website owners have provided zero proof of any relationship. A similar name and a publicly available registration number are not enough to establish a real connection.
What about their Vanuatu registration? Yes, Decode Global Limited is indeed listed in the VFSC (Vanuatu Financial Services Commission) registry as an international company under No. 700415. It was registered on July 6, 2020, and its Class C license (allowing derivatives trading) was renewed on April 25, 2023.
However, there is no mention of DecodeFX in the regulatory documents or licenses. This means that any claimed connection between Decode Global Limited and the website reviewed is based purely on the broker’s own statements — which hardly makes it a credible claim.
To complicate matters further, there’s another company in the Vanuatu registry with an almost identical name — Decode Global (VU) Limited (Reg. No. 303250).
How are these two entities related? Which one actually owns DecodeFX? We couldn’t find answers to these questions.
How Long Has DecodeFX Been in the Game?
The broker’s website also provides information about its operational history. However, according to the site, DecodeFX was established in 2004. Let’s see what the WHOIS service — which records domain registration dates — has to say about this.
WHOIS data shows that the domain decodefx.com was registered in November 2017. However, Web Archive snapshots reveal that the platform actually became active much later. Until the end of 2020, the domain was owned and sold by GoDaddy, and DecodeFX only launched its website in 2021. Although the early versions of the site looked different, they still retained some recognizable elements.
Interestingly, these findings align with the broker’s registration and licensing dates in Vanuatu. This leaves us with two possibilities. The claim about DecodeFX existing since 2004 is completely fake. The company operated for 16 years without registration or licensing — meaning it was illegal.
Either way, one big question remains. Why does the website look so amateurish today? After years in the industry, the company should have learned traders’ needs and regulatory requirements to create a polished web platform. But that never happened.
Extra Fraud Indicators
The situation with DecodeFX reviews is also suspicious. Throughout the broker’s entire existence, only 6 reviews have been posted on Trustpilot — all of them recent and overwhelmingly positive.
Where are the older reviews? There’s a simple explanation for these inconsistencies. Until November 2024, the broker was known as “Decode Global” (which matches its registered company name). However, it was not known for honest business practices. Instead, it gained notoriety for fraudulently stealing clients’ funds.
You can verify this yourself by checking reviews.io, where there are 46 posts about Decode Global — and nearly 90% of them are negative. You can also find official warnings from financial regulators, including Canadian authorities, who flagged the company as a suspected scam.
By late 2024 — early 2025, the project owners realized their reputation was beyond repair, so they rebranded the platform as DecodeFX. But do you really think their attitude toward traders and their money has changed?
Is DecodeFX the Right Fit?
The information we uncovered in our review makes one thing clear. A license does not always guarantee that a broker is trustworthy. Yes, DecodeFX is officially registered and operates under a VFSC (Vanuatu) license. But its reputation is irreversibly damaged, and even regulatory authorities have issued warnings about the dangers of trading with them. We strongly recommend taking these warnings seriously and never depositing money with these scammers.
Fraudsters constantly refuse to allow withdrawals! Meanwhile, the requirements they provide change almost every day. At first, they asked me to pay for insurance, which was never mentioned before… Then suddenly, I was told that they couldn’t withhold taxes on the withdrawal amount and that I wouldn’t get anything unless I sent them the necessary funds. I’m shocked by the way DecodeFX treated me, they are dishonest and don’t fear being held accountable. From what I understand, they just rebranded, and under the old name, they scammed a lot of people!
I don’t recommend trading with DecodeFX because these scammers don’t fulfill their obligations. In the terminal (where it’s usually safer than MT4), they deliberately create technical glitches, then claim it’s not their fault, and traders lose money. The scammers just take advantage of the fact that novices don’t understand trading and steal their money through various methods. Stay away from this bad broker!