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Market Radar

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Operating status: SCAM

Website: https://www.marketsradar.io/

Broker violations and abnormal records
  • 2023-06-11 The NZ FMA issued a warning against Market Radar

    On June 12, 2023, the New Zealand Financial Markets Authority (FMA) issued a warning against Market Radar, stating that this broker is not registered in the New Zealand as a financial service provider: https://www.fma.govt.nz/library/warnings-and-alerts/market-radar-unreasonably-withholds-clients-funds/

    On June 12, 2023, the New Zealand Financial Markets Authority (FMA) issued a warning against Market Radar, stating that this broker is not registered in the New Zealand as a financial service provider: https://www.fma.govt.nz/library/warnings-and-alerts/market-radar-unreasonably-withholds-clients-funds/
  • 2023-06-11 BrokersView has reviewed that Market Radar is an unregulated broker

    Market Radar claims to be operated by RADAR FINANCIAL INVESTMENTS CORPORATION, a regulated member of the Financial Industry Regulatory Authority (FINRA) with CRD# 314823. While it is true that corresponding entries exist in the FINRA registry, it is crucial to note that Market Radar, as a broker offering trading in cryptocurrency, forex and CFDs via their website, is required to be authorized by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Mere registration with the FINRA doesn't mean that it is legal to provide services or products in the Forex and derivatives markets. However, no records matching RADAR FINANCIAL INVESTMENTS CORPORATION exist in either the CFTC register or the NFA register. As such, Market Radar is operating outside the regulatory framework.

    In addition, the New Zealand Financial Market Authority (FMA) has issued a warning against Market Radar for operating in the absence of proper authorization.

    In essence, Market Radar 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.

    Market Radar claims to be operated by RADAR FINANCIAL INVESTMENTS CORPORATION, a regulated member of the Financial Industry Regulatory Authority (FINRA) with CRD# 314823. While it is true that corresponding entries exist in the FINRA registry, it is crucial to note that Market Radar, as a broker offering trading in cryptocurrency, forex and CFDs via their website, is required to be authorized by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Mere registration with the FINRA doesn't mean that it is legal to provide services or products in the Forex and derivatives markets. However, no records matching RADAR FINANCIAL INVESTMENTS CORPORATION exist in either the CFTC register or the NFA register. As such, Market Radar is operating outside the regulatory framework.In addition, the New Zealand Financial Market Authority (FMA) has issued a warning against Market Radar for operating in the absence of proper authorization.In essence, Market Radar 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 hedge positions by opening a new order on friday evening?

Alfred Lai
Senegal
2023-08-09
ANSWER Even if Market Radar is able to offer such service, we strongly suggest you avoid this platform. It is an unlicensed broker and has been warned by a financial regulator for unlicensed activities.Market Radar claims to be operated by RADAR FINANCIAL INVESTMENTS CORPORATION, a regulated member of the Financial Industry Regulatory Authority (FINRA) with CRD# 314823. While it is true that corresponding entries exist in the FINRA registry, it is crucial to note that Market Radar, as a broker offering trading in cryptocurrency, forex and CFDs via their website, is required to be authorized by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Mere registration with the FINRA doesn't mean that it is legal to provide services or products in the Forex and derivatives markets. However, no records matching RADAR FINANCIAL INVESTMENTS CORPORATION exist in either the CFTC register or the NFA register. As such, Market Radar is operating outside the regulatory framework.In addition, the New Zealand Financial Market Authority (FMA) has issued a warning against Market Radar for operating in the absence of proper authorization.In conclusion, Market Radar doesn't comply with relevant rules and regulations and thus its offerings of trading services are illegal. Investors dealing with it are exposed to fraud or identity theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like Market Radar and instead choose a fully regulated one.
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