BrokersView has Reviewed that Andelex is an Unregulated Broker There is no any regulatory information on its website. This broker locates in Norway, but we don't find the correct information on Norwegian regulatory institution matching to Andelex. The truth is that Andelex is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.