Mar 4-8, 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 4 March, 2024 to 8 March, 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

• GESTION DU PATRIMOINE - an unlicensed trading platform which has been warned by the CNMV;
• 10XOPTIONS - a scammer using a website template often associated with fraud schemes; Red-flagged by the CNMV;
• Futuretrade.ltd - a fraudulent trading platform misleading investors with false regulatory information;
• DDSE - a company claiming to be incorporated in Cayman Islands, not authorized to offer financial services; Flagged by the FCA;
• GBFX International - a shady broker deceiving investors, leading to a warning from the FCA;
• KesslerKoch - an unauthorized financial website whose illegal operations resulted in a warning from the FINMA;
• Bitfxpro.us - a deceitful firm categorized as unauthorized in the UK by the FCA;
• Forex Trading World Limited - an unauthorized entity providing financial services without permissions from the FCA;
• ApexFinancialTrading - an unethical financial firm which copies licensing details of unrelated entities to defraud investors, on the CySEC's warning list;
• SOLID TRADE - a CNMV-flagged investment platform in the absence of transparency;
• New Pacific - a fake trading platform misappropriating licensing data of a HK SFC-licensed entity;
• Golden Shark Company - an investment website run by unknown operators, warned by the AMF;
• UNITRADE MARKET - an allegedly UK-registered company not authorized by the FCA; Its NFA ID is only for tracking purposes;
• Foxmngt - a scammer claiming to be regulated by a nonexistent financial authority, flagged by the BaFin;
• SMART BALANCE QUANTIZATION LTD - a bogus forex broker flagged by the FCA as unauthorized;
• LMAX International - a crook entity that copies licensing data of others to appear legitimate; Warned by the FSA Seychelles;
• FxGlobalMarkets - an unreliable financial services provider warned by the BaFin;
• Equity Asset Holdings - a bogus investment website fabricating regulatory information that has been refuted by the CySEC;
• Celera Fx Ltd - an unauthorized financial firm flagged by the FCA;
• BITCOIN SYNDICATE - an unlicensed asset management company on the FCA's warning list;
• Arkis Eguro - a swindler falsely claiming to be licensed, warned by the CySEC;
• GLOBALASSET - a shady financial entity which has been warned by the FCA;
• Abnbitfx - unknown operators providing financial services throught this website without appropriate authorization; Flagged by the FCA;
• BullMarkets - a non-regulated forex broker pretending to be licensed; Standing on the CySEC's warning list;
• Immediate Connect - an online financial service provider offering services without the required authorization; Warned by the BaFin;
• LINQ Capital - a crook company giving a non-existent address to appear real; Warned by the German BaFin;
• Clone CWG Markets (CWG Foreign Exchange) - an imposter website flagged by the FCA;
• Tradesafer - an online financial platform not in the commercial register of the FINMA;
• Shiba Markets - a brokerage firm failing to be registered with any pertinent financial regulators; Flagged by the FINMA;
• TopTier Capital - an CNMV-flagged, unauthorized online investment website;
• UP MARKETS - an illicit online investment website providing financial services without the required authorization, thereby having elicited a warning from the CNMV;
• Globalsupertradefx - a fake global online investment platform, unregistered with any pertinent financial regulators;
• LivingTradeFX - an unlicensed online trading platform offering financial services without necessary licenses; Warned by the CNMV;
• FAST TRADEFX - a scammer pretending to be legitimate with false regulatory statements; Flagged by the FCA as unauthorized firm;
• TCM Globals - a potential case of identity theft misusing licenses of other entities to appear legitimate; Warned by the CySEC;
• VisionFX aka TradeVision - an unregistered trading platform warned by the OSC.

BrokersView has received user complaints regarding suspicious trading activities conducted by certain platforms. After conducting thorough reviews, we discovered that the related Forex brokers are unregulated and pose serious risks to investors. Before engaging in any transactions with a broker, it is crucial to double-check their authorization and read reviews posted by existing clients. Failure to exercise caution while exploring the financial market could result in significant financial losses that may be irreversible.

Therefore, we strongly advise conducting thorough research when selecting a trading platform. Choose brokers that are under stringent supervision by governmental financial bodies to ensure your investments are secure. 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.