Sep 23-27, 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 23 September 2024 to 27 September 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

● Pinnaclesaveltd.top - a suspicious investment website flagged by the Luxembourg CSSF;

● ABM Trades - a fraudulent broker falsely claiming to be multi-regulated;

● Pillarswift -  an allegedly UK-based company flagged by the FCA for the lack of the required authorization;

● Fargo Markets - a dubious trading platform warned by the Swiss FINMA for not being in the commercial register;

● InvestInspire Limited - an unlicensed online financial services provider carrying a warning from the BCSC;

● ALL SHORES ADVISORY - a non-regulated broker warned by the FCA;

● APMETRADE - an unauthorized trading platform, on the CNMV warning list;

● GoldenLevel - a non-regulated broker flagged by the BaFin; Having connection with another suspicious investment website;

● CAPMASTERS - a risky trading platform that investors should avoid;

● AMERITFOREXTRADE - an untrustworthy financial website falsely claiming to be multi-regulated; Warned by the FCA;

● Astrofxopts - an unknown trading platform not authorized to solicit investments;

● IQFX - an unverified FX broker unauthorizedly providing financial services or products;

● Golden Premium FX Stock - a non-supervised forex brokerage firm;

● 9cents - an offshore broker not licensed to operate;

● Quinnix Group - an unauthorized financial firm in the UK;

● UnitedPips - an offshore trading platform operating in an unregulated environment;

● DX fund - an unlicensed broker flagged by the BaFin;

● AlphaStocking - a financial services provider not authorized locally; Warned by BaFin;

● TGFInvest - an illegitimate financial website blacklisted by the CONSOB;

● FXOTP - a dubious forex company presenting substantial risks;

● Fx Swizcapital - a fraudster giving false regulatory statements to mislead unsuspecting investors;

● APG PRIME - a scammer fabricating an NFA license to defraud investors;

● Trade Next Generation - a dishonest broker using a fake regulatory agency to appear real; Warned by the BaFin;

● Phunemz Coins Fx -  a shady entity which is not authorized; Flagged by the FCA;

● Curion Finance - an unethical platform fabricating regulatory information; Standing on the CNMV's warning list;

● NexosTrade - an unscrupulous trading platform warned by the CNMV;

● TransX Markets - a supposed offshore entity, unlicensed to solicit investments;

● BitExpert Market - a crook firm using a fake certificate to defraud people;

● Nation Traders - an unsupervised entity providing a false offshore registration number;

● Neith Capital - a fraudulent trading platform falsely claiming to be an NFA member;

● MAXTRADEPLUS - a scam trading platform exposed by BaFin;

● Market Seeker - an unauthorized firm flagged by the FCA, lying about its regulatory status.

In recent Q&A among traders, a significant alarm has been raised regarding the activities of unregulated brokers. These brokers often assert their presence in specific jurisdictions but fail to provide the necessary licensing information to substantiate their claims. This can lead unsuspecting traders to fall victim to fraudulent schemes orchestrated by these brokers. Consequently, it is imperative for traders to exercise thorough due diligence and verify the regulatory status of any broker before engaging in trading activities to safeguard their investments.

Other Asked Brokers

In addition to the aforementioned scam brokers, we've received inquiries about these brokers, including Alvexo and OANDA. Although these brokers are providing financial services or products within regulatory frameworks, they just 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 withdrawal issue & account blocking and trading inqury.

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.