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EXOTRADEFX

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Operating status: SCAM

Website: https://www.exotradefx.com/

Broker violations and abnormal records
  • 2023-08-06 The UK FCA issues a warning against EXOTRADEFX

    On August 7, 2023, the Financial Conduct Authority (FCA) issued a warning against EXOTRADEFX, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/exotradefx

    On August 7, 2023, the Financial Conduct Authority (FCA) issued a warning against EXOTRADEFX, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/exotradefx
  • 2023-08-07 BrokersView has reviewed that EXOTRADEFX is an unregulated broker

    EXOTRADEFX claims to be regulated by the US Securities and Exchange Commission (SEC), however, there is no matching records in the register of the SEC. We further searched for this company in the US National Futures Association (NFA) register but didn't find it regulated by the NFA, either.

    EXOTRADEFX claims to be regulated by the Investment Industry Regulatory Organization of Canada (IIROC), however, we have been unable to located a firm called EXOTRADEFX on the regulator's register.

    Furthermore, the Financial Conduct Authority (FCA) has issued a warning against EXOTRADEFX, cautioning investors of this unauthorized firm.

    In essence, EXOTRADEFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    EXOTRADEFX claims to be regulated by the US Securities and Exchange Commission (SEC), however, there is no matching records in the register of the SEC. We further searched for this company in the US National Futures Association (NFA) register but didn't find it regulated by the NFA, either.EXOTRADEFX claims to be regulated by the Investment Industry Regulatory Organization of Canada (IIROC), however, we have been unable to located a firm called EXOTRADEFX on the regulator's register.Furthermore, the Financial Conduct Authority (FCA) has issued a warning against EXOTRADEFX, cautioning investors of this unauthorized firm.In essence, EXOTRADEFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Related Complaints

Q&A

Is EXOTRADEFX regulated?

Constantine Ogor
Philippines
2023-08-30
ANSWER EXOTRADEFX is not only unregulated but also has been warned by a financial regulatory body.EXOTRADEFX's claim that it is regulated by the US Securities and Exchange Commission (SEC) is unfounded, as there are no matching records in the register of the SEC. While the platform engages in forex trading and brokerage, there are no indications that it is registered with the US National Futures Association (NFA).Another assertion from EXOTRADEFX is false, either. It purports to be regulated by the Investment Industry Regulatory Organization of Canada (IIROC), but our search for the company on the regulator's register didn't yield any results.Furthermore, the Financial Conduct Authority (FCA) has issued a warning against EXOTRADEFX, cautioning investors of this unauthorized firm.Therefore, BrokersView has concluded that EXOTRADEFX is a scam. Entrusting this broker with investors' funds and personal information is highly risky, as there are no rules in place to prevent fraud or theft. To mitigate those risks, it is advisable to avoid such unregulated brokers as EXOTRADEFX and choose a fully regulated one.
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