Q&A Weekly Review - What's Asked This Week?

A Q&A Weekly Review keeps traders informed of the latest regulatory status and trading details of brokers mentioned by our users in a given week.

Here, BrokersView gives a summing up of "Q&A" this week - from 12 Dec, 2022 to 16 Dec, 2022, listing the asked brokers by categorizing them into scammers and regulated ones to visually tell traders whether a broker is subject to necessary rules and principles, and summarizes the most concerning issues related to brokers on the ground of our users' questions.

Brokers Asked in This Week

Scam Brokers You Should Stay away from

● PATRIOT CAPITAL - an unauthorized broker falsely claims its authorizations and regulations under ASIC;

● Sotrade FX - merely a registered company in SVG FSA while not under authorizations and regulations by any regulators;

● Vastfxtrade - an illegal entity falsely claims to be regulated by CFTC, Belize FSC, CySEC, and FCA while unlawfully providing services of financial derivative;

● ETF Corp - a fraudulent trading platform alerted by the Spain CNMV;

● BITNANCEX - a Luxembourg limited carrying a warning issued by the Luxembourg CSSF for not being authorized and regulated;

● Dizicx - an offshore scam misrepresenting registration information in SVG FSA;

● RoboticsForex - an unlicensed entity warned by CySEC for not belong to an entity that has been granted authorization for the provision of investment services;

● Fintegral - an offshore broker blacklisted by the Italy CONSOB;

● Aly Financial  - a Hong Kong-based brand providing financial services without regulations by financial regulators;

● FMS Markets - a Dubai-registered limited with no valid authorization by the Dubai FSA;

● Summa Capital - a clone firm falsely claims its authorization and regulation in multiple authorities and flagged by Finland FSA;

● Cudrania Capital - a non-supervised scam running the business under no valid regulations;

● Capital Base - an offshore fraud company warned by CONSOB;

● StakeFx - an unregulated broker falsely claims to be regulated by Mauritius FSC and alerted by the German BaFin.

Other Asked Brokers

As for other brokers been asked about this week like Opofinance, ATFX, VT Markets, Alvexo, Mt.Cook Financial, Exclusive Markets, Investous, InvestMarkets. Even though the above brokers do have authorizations and regulations, they are just relatively lower risk than those without valid regulations. We would recommend all investors check brokers' reviews in BrokersView before investment. 

We now have almost 3000 reviews of brokers for you. You can check all reviews here.

Questions of The Week

Except for the most frequently asked question - "if a broker is licensed/regulated/safe or not," matters of interest to our users this week include brokers' company and trading details, such as social media accounts, clients' regional restriction, and requirements for opening an account.

Conclusion

If you are about to invest in forex trading yet not sure about brokers' qualifications, or if you would like to get more information about forex brokers, please do not hesitate to "Ask A Question" in our Q&A section.