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Forexland

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Operating status: SCAM

Website: https://www.forexland-fx.com/en/

Broker violations and abnormal records
  • 2023-11-07 BrokersView has reviewed that Forexland is an unregulated broker

    Forexland claims to be the trading name of FXland Limited, a company registered with the Marshall Islands Registry (IRI). While we did find matching entries in the IRI database, it is crucial to note that the IRI is a privately held maritime and corporate registry service provider that doesn't have the authority to issue licenses for forex brokers and regulate this industry. Mere registration with the IRI is meaningless in forex trading.

    Furthermore, it is strange that, in its legal documents, Forexland purports to be affiliated with another company, Nidex Limited that is registered in St. Vincent and the Grenadines under registration number 26124BC2021. However, neither the company name nor the number exists in the register of the Financial Services Authority (SVG FSA).

    In essence, Forexland 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.

    Forexland claims to be the trading name of FXland Limited, a company registered with the Marshall Islands Registry (IRI). While we did find matching entries in the IRI database, it is crucial to note that the IRI is a privately held maritime and corporate registry service provider that doesn't have the authority to issue licenses for forex brokers and regulate this industry. Mere registration with the IRI is meaningless in forex trading.Furthermore, it is strange that, in its legal documents, Forexland purports to be affiliated with another company, Nidex Limited that is registered in St. Vincent and the Grenadines under registration number 26124BC2021. However, neither the company name nor the number exists in the register of the Financial Services Authority (SVG FSA).In essence, Forexland 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 Complaints

Is Forexland a safe platform?

JJCOOK
Malta
2023-11-20
ANSWER Forexland, unfortunately, does not appear to be a safe choice for investors.Forexland presents conflicting information about its legal status. It professes to be the trading name of FXland Limited, a company that is only registered with the Marshall Islands Registry (IRI). This agency, however, does not have the authority to issue licenses for or regulate forex trading. In a contradictory claim, Forexland also alleges an affiliation with Nidex Limited, which falsely purports to be registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). Regardless of these claims, Forexland lacks the necessary authorization to operate as a forex broker.Given these circumstances, we strongly advise investors to steer clear of Forexland. Engaging with this unlicensed platform could potentially expose individuals to risks such as fraud and identity theft. For the protection of their interests, traders are recommended to opt for brokers that are fully regulated.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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