Dec 16-20, 2024 Q&A Weekly Review - What's Asked This Week?

BrokersView provides a weekly update called "Q&A Weekly Review" that keeps traders informed about the latest regulatory status and trading details of brokers mentioned by our users.

The update covers the period from 16 December 2024 to 20 December 2024 and categorizes the brokers into two groups: scammers and regulated ones. This helps traders know if a broker is subject to the necessary rules and principles. The review also summarizes the most concerning issues related to brokers based on questions asked by our users.

Brokers Asked in This Week

Scam Brokers You Should Avoid

● Clone Rosemount Limited - case of identity fraud revealed by the FCA;
● Royal Q - a dubious trading platform practicing illegal investment scheme, warned by the Malaysia SC;
● ProfitWave - an anonymous investment firm warned by the CySEC;
● GESTION DU PATRIMOINE - an illicit trading platform warned by the CNMV;
● Trading Road - a scam platform that may have absconded;
● ImperialFonds - a suspicious trading platform carrying a warning from the BaFin;
● WiseBit AI - a shady platform using a fake authority to appear legitimate; Flagged by the FINMA;
● Invest Precision - an unverified trading platform warned by the FINMA;
● AixCad - an untrustworthy platform flagged by the BCSC;
● AlphaCapital - an unlicensed broker warned by the BCSC;
● Sliverlining Investment - an unauthorized financial firm flagged by the FCA;
● Fargo Investor - an unsupervised trading platform on the OSC's warning list;
● Blantomic - an unverified financial entity flagged by the OSC;
● Wynn Exchange - a non-supervised trading platform warned by the OSC;
● Wirebitcoin - an unreliable investment website on the OSC's Investor Alert;
● INVESTINGCY - a dishonest firm warned by the CNMV for the lack of the required license;
● BESTONFX - an unregulated trading platform stopping clients from withdrawing their funds;
● FOGO - unethical trading platform operating without being supervised;
● MetaGenesis - a malicious financial firm misusing unrelated companies' information to appear real; Warned by the FCA;
● SHD Markets - an illegitimate trading platform warned by the FCA;
● INFINITY ECN - a non-regulated broker allegedly to be based in the US, absent from the NFA register;
● Blyx Ultra - a deceitful trading platform using a fake regulatory body's name to fool investors;
● Touchstone Markets - an unlicensed broker claiming to be domiciled in the UK; Warned by the FCA;
● Fina Nova - a fraudulent trading platform on the FSMA's warning list;
● Clone Finco Trades - an illicit website involved in identity fraud, flagged by the MFSA;
● Main Financial - an unregistered financial firm warned by the CNMV;
● Grossfield - an unauthorized financial firm allegedly based in the UK; Warned by the FCA;
● Greenfield Network Investment - an unscrupulous financial entity falsely claiming to be authorized by the FCA;
● STB Provider - an offshore forex broker solely claiming to be registered in St. Lucia;
● INFINIT VIEW PLUS - a bogus trading platform warned by the FCA;
● Quotex -a notorious fraudulent trading platform facing numerous complaints;
● MyCopy Stocks Company - a deceitful trading platform falsely claiming to have a partnership with reputable media outlets;
● Altreserve - a scam broker flagged by the FINMA;
● Steer Index Ltd - an unlawful website flagged by the Seychelles FSA;
● FlareGain - an unlicensed firm blacklisted by the CNMV.

Other Asked Brokers

In addition to the aforementioned scam brokers, we've received inquiries about these brokers, including Octa. Although this broker is providing financial services or products within regulatory frameworks and carries a relatively lower risk than those unlicensed ones, to safeguard your interests at best, it is critical to bear in mind that licenses and oversight cannot completely eliminate investment risks and the possibility of violations.

BrokersView consistently urges traders to conduct thorough due diligence to protect their investments. If you’re unsure whether a license is valid or if the issuing authority has legal oversight, don’t hesitate to visit our website. We currently have over 5,000 broker reviews available for you to browse through. You can access all of the reviews here.

Questions of The Week

Apart from the commonly asked question - "whether a broker is licensed/safe or not," we have noticed that our users are particularly interested in "funding methods”.

Conclusion

If you are considering investing in forex trading but are uncertain about a broker's qualifications, or if you simply want to gather more information about forex brokers, please feel free to "Ask A Question" in our Q&A section.