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 18 Jul, 2022 to 22 Jul, 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

● HorizonFXPro - an offshore scam warned by Spain CNMV;

● Covey Fx - a scam broker blacklisted by Singapore MAS;

● Multi LP - an illicit company carrying out financial activities unlawfully;

● LevelTrade - a non-supervised entity falsely claims its regulation by the Australian ASIC;

● Green Capitalz - an unregulated broker falsely claims its regulation by FSCA and alerted by CONSOB;

● FxView Investment - an unlicensed entity warned by the UK FCA and the Cyprus CySEC;

● Markets Octa - a clone firm falsely uses regulation information of a CySEC-regulated broker;

● Profitto - an offshore scam that provides financial services without valid regulation;

● HobitalFxTrade - an unauthorized broker blacklisted by the UK FCA;

● Lotas Capital - an illegal entity running a business under no valid regulation;

● NetX - a UK-based company that is not authorized to do forex by the UK FCA.

2. Regulated Brokers You Could Choose from

● BelFX - a company with the regulation in the Belize FSC;

● ATFX - a supervised entity with the regulation of several watchdogs - the UK FCA, CySEC, and Mauritius FSC;

● Global Prime - a brand is overseen by ASIC, VFSC, and Seychelles FSA;

● TeleTrade - an entity regulated by CySEC;

● FXPRIMUS - a licensed firm regulated by the CySEC and VFSC;

● IFC Markets - an authorized broker authorized and regulated by the Labuan FSA and BVI FSC; 

● AUGS Markets - a broker that provides financial services and products under authorization and regulation by LFSA, ASIC, and VFSC;

● IEXS - an offshore broker under weak regulation by VFSC;

● BCR - an ASIC-regulated broker that runs the financial business under valid regulation;

● ETO Markets - a company strictly regulated by the Australia ASIC;

● Rallyville Markets - an entity running a business under weak regulation by VFSC;

● Windsor Brokers - a regulated broker carrying out financial services with regulations issued by CySEC, Belize FSC, Kenya CMA, and Seychelles FSA; 

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' trading and account details, such as trading leverage, contact methods, regional restriction, and whether a broker provides NBP or allows hedging?

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.