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Updatedfxtrade

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Operating status: SCAM

Website: https://updatedfxtrade.com/index

Broker violations and abnormal records
  • 2023-01-08 BrokersView has Reviewed that Updatedfxtrade is an Unregulated Broker

    Updatedfxtrade claims to be a regulated firm with a business certificate in the United States. But business certificates do not have the legal force to offer forex services that are subject to relevant regulations issued by regulatory bodies. 

    As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to Updatedfxtrade in the above two regulatory bodies. 

    The truth is, Updatedfxtrade is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. Therefore, it is a scam.

    Updatedfxtrade claims to be a regulated firm with a business certificate in the United States. But business certificates do not have the legal force to offer forex services that are subject to relevant regulations issued by regulatory bodies. As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to Updatedfxtrade in the above two regulatory bodies. The truth is, Updatedfxtrade is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A Complaints

When can I receive my withdrawl?

user since
Hungary
2023-01-10
ANSWER Updatedfxtrade is not a reliable broker for traders even though it states offers that look good to be true.Updatedfxtrade claims to be a regulated firm with a business certificate in the United States. But business certificates do not have the legal force to offer forex services that are subject to relevant regulations issued by regulatory bodies. As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to Updatedfxtrade in the above two regulatory bodies. The truth is, Updatedfxtrade is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Updatedfxtrade and trade with licensed brokers.
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