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Fero Markets

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Operating status: SCAM

Website: https://feromarkets.com/#

Broker violations and abnormal records
  • 2023-06-24 BrokersView has reviewed that Fero Markets is an unregulated broker

    Fero Markets claims to be the trading name of Fero Markets Limited, a company supposedly incorporated and registered in St. Vincent and the Grenadines. However, our search for this company in the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) didn't yield any matching results, casting doubts on its registration. Furthermore, the offshore financial watchdog has explicitly stated that it neither issues forex licenses nor regulates entities involved in such activities.

    Fero Markets Group UK Limited claims to be located in the UK, but our investigation suggests that it fails to seek authorization from the Financial Conduct Authority (FCA).

    Fero Markets Limited purports to be a New Zealand registered company with NZBN 942904987781 and operates as a registered Financial Services Provider (FSP403326). However, there are no records in the Financial Markets Authority of New Zealand (NZ FMA) matching the NZBN number the broker claims. And the FSP number in the NZ FMA register belongs to another real company. Such situation raises significant concerns over Fero Markets' legitimacy and authenticity.

    In essence, Fero Markets 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.

    Fero Markets claims to be the trading name of Fero Markets Limited, a company supposedly incorporated and registered in St. Vincent and the Grenadines. However, our search for this company in the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) didn't yield any matching results, casting doubts on its registration. Furthermore, the offshore financial watchdog has explicitly stated that it neither issues forex licenses nor regulates entities involved in such activities.Fero Markets Group UK Limited claims to be located in the UK, but our investigation suggests that it fails to seek authorization from the Financial Conduct Authority (FCA).Fero Markets Limited purports to be a New Zealand registered company with NZBN 942904987781 and operates as a registered Financial Services Provider (FSP403326). However, there are no records in the Financial Markets Authority of New Zealand (NZ FMA) matching the NZBN number the broker claims. And the FSP number in the NZ FMA register belongs to another real company. Such situation raises significant concerns over Fero Markets' legitimacy and authenticity.In essence, Fero Markets 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

Can I use Skrill to deposit?

Pahunrepublic
Burundi
2023-06-26
ANSWER Fero Markets is an unregulated broker that we advise against trading with, despite the seemingly attractive deals it offers.Fero Markets claims to be the trading name of Fero Markets Limited, a company supposedly authorized and regulated by the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). However, our search for this company in the SVG FSA registry didn't yield any matching results, casting doubts on its registration. Furthermore, the offshore financial watchdog has explicitly stated that it neither issues forex licenses nor regulates entities involved in such activities. Additionally, Fero Markets Limited purports to be a New Zealand registered company with NZBN 942904987781 and operates as a registered Financial Services Provider (FSP403326). However, there are no records in the Financial Markets Authority of New Zealand (NZ FMA) matching the NZBN number the broker claims. And the FSP number in the NZ FMA register belongs to another real company, which is not associated with Fero Markets. Such a situation raises significant concerns over Fero Markets' legitimacy and authenticity.As for Fero Markets Group UK Limited, it claims to be located in the UK, but our investigation suggests that it fails to seek authorization from the Financial Conduct Authority (FCA).Regarding your question, we strongly suggest you exercise extreme caution and avoid dealing with Fero Markets because it is an unregulated broker carrying significant risks, such as financial losses and identity theft. There are no rules in place to safeguard investors' interests. Therefore, investors are encouraged to stay away from unregulated brokers like Fero Markets and instead choose a fully regulated one.
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