Oct 21-25, 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 October 21 to 25, 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

● PS Wealth.Pro - an unauthorized firm in the UK, flagged by the FCA;
● Expert Advisories - a relatively new financial website warned by the FCA for the lack of the required authorization;
● bnioptiontrade - a dubious investment website not registered with any financial regulators;
● InvestTraders - a suspicious financial firm in the UK on the FCA's warning list;
● Xpert Portfolio - an illegitimate entity on the FCA's warning list;
● PERFECT MINING DEALERS - an abusive website warned by the FCA;
● Multicryptoinvest - an unlicensed trading platform carrying a warning from the FCA;
● GLOBAL BLOCKCHAIN TECHNOLOGIES - an untrustworthy investment website, warned by the FCA;
● Prime Miners - an abusive financial website exposed by the FCA;
● METRICS MINERS - a non-regulated investment platform having been warned by the FCA;
● 247Marketmasterytraders - a non-supervised investment entity; Warned by the FCA;
● KucoinRX - an illicit financial firm operating out of the UK; Warned by the FCA;
● SPOTXCOIN - an unregistered company that the FCA warns;
● ALBRECHTHANDEL - a crook broker warned by the FCA;
● Strathos - an SVG FSA-regsitered forex broker withholding funds;
● STARFOREX LIVE INVESTMENT - an untrustworthy trading platform carrying an FCA warning;
● APEX GLOBAL TRADES - a quite new website not authorized to offer financial services or products;
● GLOBALSIGNALSFX - a fraudulent trading platform red-flagged by the FCA;
● CMC Finance Group - an abusive financial website blacklisted by the CONSOB;
● INVEST GROUND - a shady broker using unrealistic returns as an allure; Warned by the FCA;
● SMARTS FX PRO - a fake trading platform warned by the FCA;
● Smart Expert Traders - a recently-registered financial website flagged by the FCA as a potential scam;
● SINEVEST LTD - a tricky broker using vague regulatory statements to defraud investors; Warned by the FCA;
● Gala Traders - an untrustworthy trading platform having received a warning from the FCA;
● ALTMINING EXPERT - a scam broker falsely claiming to be regulated by the FCA;
● Alphaprotrades - a ghost firm falsely claiming to be regulated in the UK;
● GoldenSphereAgency - an unverified trading platform not properly licensed;
● Legitimateworldwidebitrade - an allegedly American company not authorized by the NFA;
● Odrax Group - a supposed Danish firm not authorized there;
● AlfaXM - an unknown entity keeping investors in the dark about their real identity;
● Elite Techal - a scammer fabricating a CH license to appear real; Warned by the FCA;
● SUCCESSFUL CRYPTO MARKET - a suspicious entity carrying a warning from the FCA;
● HAPPYMONI.LIVE - an unauthorized financial firm in the UK blacklisted by the FCA.

Other Asked Brokers

In addition to the scam brokers above, BDSwiss and Equiti were also mentioned by users. Recently, these brokers have been facing client complaints regarding withdrawal issues.

Besides, Traders were also asking about Alvexo.

Although these brokers are providing financial services or products within regulatory frameworks, they only 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.

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 "contacted by phishing site and imposters", "withdraw issue & unresponsive customer service", and "withdrawal issues".

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.