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Regina Forex

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Operating status: SCAM

Website: https://www.reginaforex.com/

Broker violations and abnormal records
  • 2022-01-09 BrokersView has reviewed that Regina Forex is an Unregulated Forex Broker

    Regina Forex claims it was founded in 2010 with more than 10 years of industry experience. However, when we check on the Internet, we found it was newly established in 2021. It is a red flag here.

    The broker claims to be registered in Canada and seems to be a legit, licensed brokerage by showing its registration(license number M21068549) with MSB, which refers to the Canadian FINTRAC license. Well, it’s not! As you may know, FINTRAC has no power to authorise FX brokers, so Regina Forex Limited is just registered as a transaction reporting entity. That is to say, the entity falsely claims to be a licensed broker. This is another scam red flag here. In fact, for a Canadian forex company, if Regina Forex wants to call itself a licensed broker, it needs to get authorised by the Investment Industry Regulatory Organization of Canada (IIROC), which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Based on the information, we can conclude Regina Forex provides traders with forex trading services but it lacks any kind of regulation. Therefore, it is a scam. 

    Regina Forex claims it was founded in 2010 with more than 10 years of industry experience. However, when we check on the Internet, we found it was newly established in 2021. It is a red flag here.The broker claims to be registered in Canada and seems to be a legit, licensed brokerage by showing its registration(license number M21068549) with MSB, which refers to the Canadian FINTRAC license. Well, it’s not! As you may know, FINTRAC has no power to authorise FX brokers, so Regina Forex Limited is just registered as a transaction reporting entity. That is to say, the entity falsely claims to be a licensed broker. This is another scam red flag here. In fact, for a Canadian forex company, if Regina Forex wants to call itself a licensed broker, it needs to get authorised by the Investment Industry Regulatory Organization of Canada (IIROC), which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Based on the information, we can conclude Regina Forex provides traders with forex trading services but it lacks any kind of regulation. Therefore, it is a scam.
  • 2022-07-07 BrokersView has found that Regina Forex is not working

    On 8 Jul 2022, BrokersView found the domain https://www.reginaforex.com/ is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

    On 8 Jul 2022, BrokersView found the domain https://www.reginaforex.com/ is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

Related Complaints

Q&A

Do you have any information about Regina Forex? I am not sure if it is legit. Please verify

Pass
Iceland
2022-01-13
ANSWER Regina Forex is not a legit broker and should be avoided at all events. Regina Forex claims it was founded in 2010 with more than 10 years of industry experience. However, when we check on the Internet, we found it was newly established in 2021. It is a red flag here. The broker claims to be registered in Canada and seems to be a legit, licensed brokerage by showing its registration (license number M21068549) with MSB, which refers to the Canadian FINTRAC license. Well, it's not! As you may know, FINTRAC has no power to authorise FX brokers, so Regina Forex Limited is just registered as a transaction reporting entity. That is to say, the entity falsely claims to be a licensed broker. This is another scam red flag here. In fact, for a Canadian forex company, if Regina Forex wants to call itself a licensed broker, it needs to get authorised by the Investment Industry Regulatory Organization of Canada (IIROC), which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Based on the information, we can conclude Regina Forex provides traders with forex trading services but it lacks any kind of regulation. Therefore, it is thoroughly a scam.We would recommend traders to stay away from unregulated brokers like Regina Forex and trade with licensed brokers.
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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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