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 13 Feb, 2023 to 17 Feb, 2023, 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

● EverFxPro - a UK-based firm carrying warnings issued by the Spain CNMV;

● Exchange Income  - a non-supervised broker falsely claims to have regulations in CFTC, Belize FSC, and CySEC;

● StakeFx - an unauthorized limited falsely claims its authorizations and regulations in the Mauritius FSC and warned by BaFin;

● UpperTrade - an unlicensed brand flagged by the Romania ASF for being not authorized to offer financial services;

● Trinity Capital - an offshore entity blacklisted by the Portuguese CMVM;

● IpgateTrade - merely a registered company in SVG FSA while not authorized by any regulators;

● ActionMarkets - a Marshall IRI-registered firm provide investment services without regulations and alerted by CNMV;

● IG Global Limited - a fraudulent trading platform unlawfully providing services of financial services and derivatives;

● Green Ocean Markets - a clone broker falsely uses regulatory details of a HongKong SFC-regulated firm;

● ZtronFX - an illegal limited falsely claims its licenses in IIROC, ASIC, and FSCA while in fact not under any authorizations.

Other Asked Brokers

As for other brokers been asked about this week like Equiti, Darwinex, Trading.com, Fortrade, 

LCG, Swiss Markets, Tradeview Markets, Pure Market, TopFX. 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 more than 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 withdrawal methods, trading products, office address, lowest spread, or whether a broker provides Islamic 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.