Dec 30, 2024 - Jan 3, 2025 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 30 December 2024, to 3 January 2025 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 Hantec Markets - identity fraud that masquerades Hantec Markets and mirrors IC Markets;

● SYNCXTRADES - a shady broker lying about its identity; Flagged by the FCA;

● Pelliron Universal - a non-regulated broker falsely claiming to be registered in St. Vincent and The Grenadines;

● Apexfxtradehub - an unverified trading platform red-flagged by the FCA;

● ONLINEMARKETEXCHANGE - a dubious investment site warned by the FCA;

● MilleniumChain - a dubious investment platform on the AMF's warning list;

● Tpc Invest - a crook investment company whose website has been disabled;

● ZiFi Markets Ltd - an offshore trading platform not authorized to solicit investors;

● TADAWULNOW - an unauthorized firm warned by the FCA;

● Monix Limited - an unlicensed financial firm allegedly based in the UK; Flagged by the FCA;

● Corpteck - a trading platform warned by its local financial regulator FINMA for being absent from the commercial register; 

● MAXTRADEPLUS - a deceitful broker falsely claiming to be multi-regulated; Flagged by BaFin;

● SFM Global - a broker providing CFD trading services yet only with registration in St. Lucia;

● MOHD AZIM GENERAL TRADING - an unsupervised broker that investors shouldn't trust;

● TRADETIPS - an untrustworthy investment platform warned by the FCA;

● JS - identity fraud flagged by the FCA;

● HAWKENSLEY - an unlicensed investment site on the CNMV's warning list;

● AllFinanzPlus - an unregistered investment platform red-flagged by the CNMV;

● Maindprofit - an offshore broker without the necessary authorization for its business;

● FX Tampa - a scammer platform flagged by the Belgian FSMA;

● SURE FX OPEN - an unethical entity fabricating regulatory information to fool investors; Warned by the FCA;

● AssetAce - a non-regulated forex brokerage firm on the AMF's warning list;

● OPTIMUMCRYPTOEXPERTS - an illicit trading platform uncovered by the FCA;

● Marketswind - an unscrupulous broker found by the FCA;

● FX TRADINGS - a fake trading platform flagged by the FCA;

● Alphaprotrades -an unethical broker making up a non-existing authority to appear legitimate.

Scam brokers employ various tactics to trap people's funds, including identity theft, fake authorization, and promises of optimal trading conditions. Unsuspecting individuals are especially vulnerable to these financial traps and can easily fall victim. BrokersView consistently urges traders to conduct thorough due diligence to safeguard 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.

Other Asked Brokers

In addition to the aforementioned scam brokers, we've received inquiries about the legitimacy of brokers such as Fusion Markets. Although these brokers are providing financial services or products within regulatory frameworks, they just have 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.

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.