June 24-28, 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 June 24 to June 28, 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

● Forex Iraq - an unlicensed broker falsely claiming to be regulated in Iraq;
● 1000X - a shady broker warned by Thailand SEC;
● Capitals Gain - an OSC-flagged fake investment website misleading investors with false regulatory statements;
● NasdoxFX - a suspicious financial site which is currently inaccessible; On the CNMV's warning list;
● CAPIXTRADE - an unregulated broker having been warned by FINMA for the absence from the commercial register;
● CORVENTFX - a fraudulent firm spotted by the FCA;
● DFX Trading - a deceitful broker copying a genuine counterpart's information to appear legitimate; Warned by the FCA;
● Prosperity Peak Trading LLC - a deceptive brokerage firm flagged by the FCA;
● BenefitFX - an illegitimate broker whose mere registration with the IRI was canceled;
● ASTOR INVESTMENTS - a supposedly UK-registered company, not authorized by the FCA;
● Capital Trust - an FCA-warned company for the lack of the required authorization;
● Mercados G - a non-supervised broker operating in the absence of authorization;
● iTrustExpertfX - an unverified company supposedly in the US, not supervised by the NFA;
● RobinTrov - an allegedly Switzerland-located company not in the commercial register of the FINMA;
● GTCFX - a dishonest entity falsely claiming membership of the Financial Commission;
● Easy Trade - a crook brokerage firm giving false impression of being associated with a recognized counterpart; A fraudulent platform flagged by the FSMA;
● GENEVE MARKETS - a con artist lying about its history; Flagged by the CNMV;
● Cap House - an offshore entity claiming registration in St. Lucia, where forex trading activities are not licensed;
● ABUSA - an unreliable broker flagged by the HKSFC as suspicious;
● SkyTarget Ltd - a fraudulent platform that FSMA warned poses substantial risks;
● AdmiralTraders - a potential UK company, not authorized by the FCA;
● Principal World Accelerators - an unethical firm providing false information to mislead investors; Warned by the FCA;
● ParmalatFX - a newly created platform bearing a striking resemblance to those fraudulent brokers; Flagged by the FCA;
● Technologe Mine - a likely fake broker, warned by the FCA;
● Capital MGM - a dangerous platform flagged by the FCA;
● Fiatfx Global - an alleged UK entity absent from the FCA's register;
● STEP Markets - an alleged Montenegro company, not registered with the SCMN;
● PORTAL INVERSOR - an unknown platform on the CNMV's list of warnings;
● HUCAPITALLTD - an unscrupulous firm whose claim of being authorized by the FCA was denied by the FCA itself;
● Fintex Pro - a non-regulated broker warned by BaFin;
● Sadex Group - a BCSC-warned company, involving significant risks.

BrokersView always recommends verification of legitimacy before committing funds to any trading platform. 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.

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.