Red Arrow review 2026: Offshore forex and CFD access with four account tiers and 1:100 leverage
Red Arrow is an Erbil-based offshore forex and CFD broker operated by Red Arrow LTD. It claims regulation by the Mwali International Services Authority under BFX2024015, while New Zealand's FMA states MISA lacks authority to license financial institutions; the site does not identify a trading platform. Serves retail clients across 200+ instruments including forex, commodities, metals, indices, shares, and cryptocurrencies.
What is Red Arrow?
Red Arrow is an offshore forex and CFD (Contract for Difference) broker operated by Red Arrow LTD. The broker lists a physical office in Erbil, Iraq and a registered address in Fomboni, Mwali, Comoros. Its official site does not disclose a founding year, public parent company, audited financial statements, or exchange listing. The MISA record names Nawid Salahaldeen Mohamad Mohamad as chief executive and ultimate beneficial owner.
The business offers more than 200 instruments across forex, commodities, metals, indices, shares, and cryptocurrencies. The site publishes four account tiers and advertises a demo account, negative balance protection, and segregated client funds. Those safeguards are broker disclosures, not independently verified custody arrangements. The earlier FXSharp data therefore scores business transparency and risk controls conservatively.
Is Red Arrow regulated? Verification check
Red Arrow LTD discloses the Mwali International Services Authority (MISA) as its regulator under license BFX2024015. MISA's verification page lists company number HT00224009, a February 16, 2024 issue date, and an Active status. The same page lists a license end date of February 16, 2025, which had already passed by the September 18, 2026 review date.
New Zealand's Financial Markets Authority (FMA) issued a warning on January 22, 2025. It said the Central Bank of Comoros confirmed that MISA lacks authority to license financial institutions. The warning concerned another platform. It also advised caution with any organization claiming MISA regulation (source: Financial Markets Authority, January 22, 2025). Red Arrow therefore remains classified as unregulated by FXSharp rather than as a broker with recognized financial supervision.
Trading platforms
Trading platform identity is not verified in the broker's public material reviewed for this profile. The terms page refers generically to a "trading platform," but it does not identify MT4 (MetaTrader 4), MT5 (MetaTrader 5), cTrader, or another named system. No MetaQuotes or Spotware server was verified. The platform therefore remains undisclosed rather than being inferred from common offshore broker setups.
This gap matters operationally because platform identity affects execution tools, automation, mobile access, and server verification. The website mentions trading calculators, a calendar, news, education, and a forex dictionary. Those tools do not establish which order-routing or charting platform executes client trades. A trader cannot confirm Expert Advisor support, API access, or native app availability from the published information alone.
Red Arrow red flags and warning signs
The main warning sign is the gap between the broker's regulatory wording and the position of national authorities. The broker says MISA regulates the company. The FMA relays that the Central Bank of Comoros does not recognize MISA as authorized to license financial institutions. The MISA verification page also shows an Active label beside a license end date in 2025. These are documented record conflicts, not allegations about trading conduct.
A second issue is missing verification around investor protection. The official site states that client funds are segregated and supervised, yet no bank, custodian, compensation scheme, or statutory ombudsman is identified. The site also advertises fast withdrawals without publishing supported payment rails or standard processing times. Those omissions make external verification harder than it is with brokers overseen by recognized national regulators.
Minimum deposit
The published minimum deposit is $100 for the Standard account. Red Arrow sets Standard at $100-$1,000, Golden at $1,000-$5,000, Platinum at $5,000-$25,000, and Diamond from $25,000 upward. All four tiers list 1:100 leverage, meaning one unit of margin can control up to 100 units of market exposure. The stated minimum trade size is 0.01 lot across the tiers.
The broker's pricing page labels the quoted figures as gold spreads. A spread is the gap between the buy and sell price. The Diamond tier publishes a starting figure of 2.0 pips, while other tiers show ranges from 2.0 to 4.0 pips. The official page does not provide a comparable EUR/USD spread schedule, so a general forex spread claim would be unsupported.
Is Red Arrow on any regulator warning lists?
The September 18, 2026 scan did not establish a broker-specific warning from the UK Financial Conduct Authority (FCA). It also found no such warning from Australian or Cypriot regulators. That absence does not convert the MISA registration into recognized regulation. The relevant public warning is broader: the FMA stated that MISA lacks authority to license financial institutions and advised caution toward organizations claiming MISA regulation.
The Central Bank of Comoros published a communiqué on December 10, 2025. It identified MISA among structures not authorized to approve banks or financial institutions. That statement addresses MISA rather than Red Arrow by name. It strengthens the need to separate company registration from recognized financial authorization when evaluating license BFX2024015 (source: Central Bank of Comoros communiqué, December 10, 2025).
What do Red Arrow user complaints say?
A reliable user-aggregate rating and review count were not established from the permitted source set for this review. The article therefore does not claim a verified pattern of withdrawal delays, account freezes, bonus disputes, or support failures. Absence of a verified complaint aggregate is not evidence of positive customer outcomes. It simply means a defensible complaint pattern could not be sourced.
The broker's own site states that deposits are instant and withdrawals are fast, but it does not publish method-specific withdrawal times. It also does not disclose the card, bank transfer, e-wallet, or cryptocurrency rails accepted for funding. Without those details, payment performance cannot be compared against a published service standard. Any individual complaint should be checked against transaction records and the firm's written terms.
How to verify Red Arrow for yourself
License verification starts with matching the legal entity, number, website, and current status across independent public records. The disclosed identifiers are Red Arrow LTD, company number HT00224009, and MISA license BFX2024015. A matching name alone is not enough because similarly named companies can exist in unrelated jurisdictions. The regulatory authority behind the record also needs legal power over financial services.
- Check the MISA verification record for the exact entity and license number.
- Compare the issue date, end date, website, and status shown on that record.
- Check statements from the Central Bank of Comoros about MISA's licensing authority.
- Search major national regulator warning lists for the exact domain and legal entity.
- Confirm any claimed client protection scheme with the scheme operator itself.
The key discrepancy is visible without interpretation. MISA's page labels the record Active while also publishing an end date of February 16, 2025. A current status should be supported by a current authorization period or renewal record. The reviewed material did not establish such a renewal from a recognized national financial regulator.
How does customer support work?
Customer support is published through email and telephone rather than through a documented service-level framework. The official site lists info@redarrow.forex and Iraqi telephone numbers including +964 750 276 0000. Support hours are shown as Monday through Friday, 10:00 to 20:00, without a stated time zone on the contact block. The site does not publish average response times or an independent dispute-resolution channel.
The terms page also mentions two-factor authentication and encryption as security measures. These are website statements and were not independently penetration-tested for this review. No formal financial ombudsman or investor compensation program was found. Customer support therefore functions as the primary published contact route for account questions and disputes.
Where is Red Arrow actually based?
The firm presents more than one geographic reference, and each serves a different corporate purpose. The official site gives a physical office at Empire Business Towers in Erbil, Iraq and a registered address in Fomboni, Mwali, Comoros. The MISA verification page lists Athens, Greece as the address for the named chief executive and ultimate beneficial owner. FXSharp still lists the headquarters as Erbil.
This geography does not establish local financial authorization in Iraq, Greece, or the European Union. The company describes itself as incorporated in the Union of the Comoros and relies on the MISA record for its regulatory claim. The site also states that it does not serve residents of the United States, Canada, North Korea, or Iran. Jurisdictional access still depends on local law where the client resides.
Account types and bonus terms
The broker publishes four account tiers: Standard, Golden, Platinum, and Diamond. Standard lists zero commission, Golden lists a $10 commission, and Platinum and Diamond list zero commission on the public account page. Each tier shows a 0.01 minimum trade size, 1:100 leverage, and "None" for swap, the overnight financing charge. The site does not label a separate Islamic account.
No bonus terms were verified on the current account pages used for this review. That means there is no basis here to claim deposit bonuses, turnover locks, or promotional withdrawal conditions. The absence of published bonus terms should not be interpreted as a permanent no-bonus policy. Contract terms and account documents remain the controlling source for any promotion attached to a specific client account.
| Feature | Red Arrow Information |
|---|---|
| Founded | Not disclosed on official site |
| Headquarters | Erbil, Iraq |
| Disclosed regulator | MISA, BFX2024015 |
| Registration verified | MISA page shows Active; listed license end date is February 16, 2025 |
| Trading platforms | Not disclosed on official site |
| Minimum deposit | $100 |
| Maximum leverage | 1:100 |
| Account types | Standard, Golden, Platinum, Diamond |
| Islamic account | Not disclosed as a separate account |
| Customer support | Email and telephone, Monday-Friday |
| Deposit methods | Not disclosed on official site |
Is Red Arrow safe? Honest assessment
Red Arrow does not have verified regulation from a recognized national financial authority in FXSharp's research. Its regulatory claim rests on MISA, while the FMA has relayed the Central Bank of Comoros position that MISA lacks licensing authority for financial institutions. The MISA page also pairs an Active label with a license end date that passed in 2025. No statutory investor compensation scheme is verified.
The broker does disclose concrete trading terms, including a $100 minimum deposit, 1:100 leverage, four account tiers, and more than 200 instruments. It also states that negative balance protection and segregated funds apply. Those product disclosures do not resolve the regulatory gap or establish a recognized compensation framework. The decisive issue for due diligence is the legal status and enforceability of the claimed supervision, not the breadth of the product list.
Forex and derivative products carry high leverage; some or all invested capital may be lost. This content is for information only, not investment advice. Verify the broker's current regulation status with the relevant authority's official site before any investment decision.
