SogoTrade Fined $75K Amid Compliance Failures
FINRA fines SogoTrade $75,000 for market access control failures as TopFX advances synthetic indices trading and 24/7 multi-asset solutions.
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Abstract:Explore how the addition of Foraxi to the WikiFX family opens up forex trading growth avenues for traders around the world.

Foraxi, a Hong Kong-based renowned forex broker, has joined hands with WikiFX, a cutting-edge broker information app. With this Foraxi is now a proud member of the broker group listed with WikiFX. With 80+ currency pair investment opportunities for traders, smart foex trading platforms, global experience in finance and Internet technologies, and a highly qualified 24x7 service, this broker is worth your investment. In this article, we will disclose the services it offers, its regulation status, and more. Keep reading!
It’s an award-winning forex and commodity brokerage company offering an impressive suite of trading services to retail and institutional traders. As a trader, you can always enjoy uninterrupted access to liquidity and advanced forex trading platforms that integrate market analytics to help in trading decisions.
Foraxi offers you as many as four trading account options - Micro, Standard, ECN and CPT. With attractive leverage options and hedging permission, traders experience just becomes better and better with Foraxi.
| Account | Minimum Deposit Amount | Base Currency Options | Contract Size | Leverage | Spread on All Majors | Commission Chargeable | Hedging Status | Margin Call/Stop Out |
| Micro | $100 | USD | 1 Lot = 100,000 | Up to 1:1200 | 0.3 | ZERO | Allowed | 60%/30% |
| Standard | $100 | USD | 1 Lot = 100,000 | Up to 1:1200 | 0.2 | ZERO | Allowed | 60%/30% |
| ECN | $1000 | USD | 1 Lot = 100,000 | Up to 1:1200 | 0.15 | ZERO | Allowed | 60%/30% |
| CPT | $100 | USD | 1 Lot = 100,000 | Up to 1:1200 | 0.70 | ZERO | Allowed | 60%/30% |
Foraxi is a Hong Kong-based forex broker registered in the United Kingdom. The regulatory body for this forex broker is the Financial Conduct Authority (FCA). FCA is one of the renowned market regulators known for placing tight norms to safeguard investors‘ interests. Our team has carefully reviewed its fundamentals and found it a great proponent for investors. On the business aspect, the WikiFX team has assigned it 7.18 out of 10. Whereas, on the risk control aspect, it gains a good score of 8.57, further demonstrating investors’ confidence towards the broker. With an operating period of two to five years, the broker has the potential to break many records in times to come.
Conclusion
We are more than delighted to have Foraxi with us. Its already helping traders grow significantly in their investment journey with small minimum deposit options and extensive offerings such as access to liquidity, enhanced leverage offers, zero commissions from traders, intuitive forex trading platforms, and great business potential for traders. The partnership with WikiFX is a synergy of thoughts that aims to empower traders in a volatile forex market. We expect the partnership to deepen further and allow traders to leverage market opportunities to scale their earnings.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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As the new year begins, WikiFX extends our sincere gratitude to traders worldwide, our industry partners, and all users who have consistently supported us.

Dear Forex Traders, When choosing a forex broker, have you ever faced these dilemmas? Dozens of broker advertisements, but unsure which one is truly reliable? Online reviews are either promotional content or outdated/incomplete? Want to learn about real users’ deposit/withdrawal experiences but can’t find firsthand accounts? Now, your experience can help thousands of traders and earn you generous rewards! The campaign is long-term and you can join anytime.