Mar 3-7, 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 March 3 to 7, 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

● Coindex - a malicious trading platform warned by both the FCA and the CNMV;
● TORO CAPITAL TRADE - a suspicious broker flagged by the CNMV;
● Gewinnerss - a fake trading platform uncovered by the BaFin;
● PRO EARNERS TRADE - a fraudulent broker falsely claiming to be legitimate using fake registration information; Warned by the FCA;
● LumiGain - a dishonest entity using suspicious regulatory claims to mislead investors; Warned by the BaFin;
● FXRK - an unknown platform blacklisted by the CNMV;
● Sable Fx Global - an unathorized trading platform having defrauded money out of investors;
● Berniston aka Berniston Investments - an unverified trading platform warned by the OSC;
● XTrade Plus - an unregistered company warned by the Seychelles FSA;
● Artosnomics - an illicit trading platform that might have absconded after its fraudulent activities were detected by authorities;
● TRADE SMART X - a dubious broker warned by the FCA;
● CAPMASTERS - an unscrupulous platform blacklisted by the CNMV;
● Enfonds - an unreliable trading platform falsely claiming to be multi-regulated; Warned by the FCA;
● Genix Options - an illegitimate broker warned by the FCA;
● KeyWealth Ltd - a financial firm claiming to be based in Switzerland but red-flagged by the FINMA;
● Nixars Group - an unregistered company allegedly in Switzerland, warned by FINMA;
● OTG Exchange - an anonymous trading platform warned by the FINMA;
● TIG Capital - an unregulated financial website uncovered by the FINMA;
● Zinzenova - an unregistered investment entity warned by the BCSC;
● Olxton Group - a malicious trading platform warned by the BCSC;
● UniversalAiGroup - an untrustworthy broker warned by the BCSC;
● Fintxpert - a crook broker lying about its regulatory status, warned by the CNMV;
● Stanford Markets - a swindling trading platform red-flagged by the BCSC;
● BIW Management Trade - a non-supervised financial website warned by the FCA;
● QX TRADING - an unregistered trading platform carrying a CNMV warning;
● Trade Alliance Ltd - a con artist misleading investors through fake registration information; Warned by the FCA;
● MASTERFIN TD - a fraudulent trading platform warned by the FCA;
● SixGroupTrust - an unreliable trading platform having been warned by the BCSC;
● CoreInvests - a non-regulated investment website warned by the FINMA;
● Clone Prometheus Investment Management - a case of identity theft uncovered by the FCA;
● RECONFXHUB - an allegedly UK-based financial firm warned by the FCA for the lack of the required authorization;
● Deolimited - an unverified entity that was included on the CNMV's alert list.

Other Asked Brokers

In addition to the brokers above, FXTRADING.com, MarketsVox, and Capitalxtend, were also mentioned by users. 

FXTRADING.com is a regulated broker that has obtained licenses issued by ASIC and VFSC. Though MarketsVox is regulated in Seychelles, it has been flagged by financial regulators in Cyprus and Malaysia for offering unauthorized financial services.

Besides, please be informed that Capitalxtend is NOT regulated, as the broker only has registration with the Financial Services Authority in St. Vincent & the Grenadines. However, the SVG FSA is not a Forex regulator.

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 "withdrawal issues” and "dispute resolution".

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.