WikiFX

Reply

From my perspective as an experienced independent trader, the credibility of Travelex appears solid, but there are important considerations. Travelex has a long operational history, having been established in Australia in 1976, and is regulated by the Australian Securities and Investments Commission (ASIC) under license number 222444. In forex trading, I always prioritize brokers that are overseen by stringent regulators like ASIC due to their stronger consumer protections and periodic checks. However, I noticed that Travelex is primarily known for its currency exchange, travel cards, and related financial services, rather than as a conventional trading broker. Their services cater mostly to individuals needing travel-related financial products rather than active market trading accounts. The one detailed negative user review highlighted some concerning experiences with signals and rapid loss of balance, which flags the importance of extreme caution if considering their trading offerings. While their regulatory status provides a degree of legitimacy and trust, the lack of widespread market trading feedback makes me hesitant to rely solely on them for active forex trading. In summary, Travelex is legitimate from a regulatory standpoint, but for anyone seeking traditional forex brokerage services, I would approach carefully—verifying exactly what products are being offered and fully understanding all associated risks and costs before committing funds.