Foraxi makes no clear claims regarding regulatory oversight and only provides a Hong Kong address and a phone number registered in United Kingdom. To verify its legitimacy, we conducted checks with the relevant authorities, including the Securities and Futures Commission (SFC) of Hong Kong and the Financial Conduct Authority (FCA) of the United Kingdom. Our search did not return any record of a licensed entity associated with Foraxi under either jurisdiction. This indicates that Foraxi is operating without proper authorization from any recognized regulatory body and is likely engaging in forex trading activities illegally. Therefore, Foraxi appears to be a fraud.