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Verify with the source.Wherever possible, information is matched against official registers and primary sources.
When was it checked?We clearly show when each critical piece of data was last checked.
Know the type of information.We classify user complaints, company statements and official records separately.
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See the level of evidence
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Instead of ratings, we show the data, its source and its verification status.

  1. 01Data
  2. 02Source
  3. 03Verification
A

Sample Financial Institution

Broker · United Kingdom

Last checked: 23.09.2026
REGULATIONOfficial record verified

The licence number and scope are matched directly against the regulator’s source.

● Official source
USER FEEDBACKRecurring topics

Topics such as withdrawals, support and trading conditions are grouped by period.

● Verified platform record
COMPANY STATEMENTData disclosed by the company

The company’s own statements are shown separately from independent verification.

● Statement
← Home

TotalFX

Broker · South Africa

About the company

Legal company nameOnam Trading (Pty) Ltd · Rateo Ltd
Year founded—
Headquarters / registered countryCape Town, South Africa
Websitetotalfx.com
Last checked10.10.2026

According to its official website, TotalFX is a CFD broker with a modern approach to trading and the brand name of Onam Trading (Pty) Ltd (FSP 51105), a company incorporated under South African law and authorised by the FSCA as a financial services provider; the company is located at The Business Centre (1 Bridgeway), Century City, Cape Town. Rateo Ltd (HE 457844) in Cyprus acts as an independent representative facilitating payments on behalf of the licence holder Onam Trading (Pty) Ltd. Clients can trade more than 600 CFDs across 8 markets (forex, shares, indices, cryptocurrencies, metals, energies, soft commodities and ETFs) on cTrader and MetaTrader 5; copy trading is also offered. There are two account types with EUR and USD base currencies: a commission-free account with spreads from 0.6 pips and an account with spreads from 0.0 pips and a commission of USD 2.75 per side; leverage on both is up to 1:1000. The website advertises a cashback-per-trade promotion. Persons in the USA, North Korea, Myanmar and Iran are not served. This information is the company's own statement.

Account Details

ACCOUNT TYPESTwo account types: commission-free (spreads from 0.6 pips) and commission-based (spreads from 0.0 pips, USD 2.75 per side)
MIN. DEPOSITNot stated
PLATFORMScTrader · MetaTrader 5 · Copy Trading
PRODUCTSForex · Shares · Indices · Cryptocurrencies · Metals · Energies · Soft commodities · ETFs
LEVERAGEUp to 1:1000

Licences and regulation

FSCA (South Africa)

Licence no.FSP 51105
Licence holderOnam Trading (Pty) Ltd
ScopeListed in the FSCA register as an authorised (Authorized) financial services provider under Onam Trading (Pty) Ltd (FSP 51105); authorised since 10 Feb 2021; approved product classes: derivative instruments, shares, bonds, money market instruments and collective investment schemes etc..
StatusVerified

User complaints

User reports found online are classified by topic. The charts show how reports are distributed; the reports are compiled from records on platforms that verify users and screen out fake reviews.

Period reviewed: July 2025 – October 2026

  • Account / trading conditions: 17
  • Withdrawal / payment: 2
  • Other: 2
  • Customer support: 1

MEDIUM — COMPLAINT LEVEL

56% of institutions with complaint records received more complaints than this one.

BY TOPIC — Account / trading conditions: Medium · Withdrawal / payment: Low · Other: Medium · Customer support: Medium

SOURCES REVIEWED

The complaint distribution is based on the 1-star reviews on TotalFX's Trustpilot page (22) records as of 10 October 2026; one person's reviews count once, and records about fake sites and third parties using the TotalFX name are left out. Across the complaints, allegations that funds were moved into PAMM accounts without client consent and the accounts wiped out, crypto withdrawals pending for days and support failing to resolve issues stand out.

Sources and verification history

Official company sourcestotalfx.com — homepage, about us page and footer
Regulator recordsFSCA — Onam Trading (Pty) Ltd, FSP 51105 (fsca.co.za)
Company registerCIPC (Companies and Intellectual Property Commission) — Onam Trading (Pty) Ltd, 2015/302489/07
User feedback sourcesTrustpilot · Şikayetvar · WikiFX
Last verified10.10.2026

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