Sep 25-29, 2023 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 25 September, 2023 to 29 September, 2023, 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

● ALLTRADERS PIPS - an unlicensed broker warned by the FCA;

● Cash Decision - a dubious platform using a website template popular among scammers, carrying an FCA warning;

● EQ ANALYST900 - a fraudulent platform whose website is currently inaccessible, red-flagged by the FCA;

● FXravators - an FCA-warned untrustworthy trading services provider seems to have absconded as its website is closed;

● CRYPTO MININGEXPERT - a fake broker lying about its regulatory status, which the FCA has warned about;

● Wind Forex Trading - a newly registered illegal platform warned by the FCA;

● Breitling Prime - an allegedly UK-domiciled firm not complying with the local laws to seek authorization from the FCA;

● FortunaInvest - a deceitful forex brokerage firm blacklisted by the AMF;

● CityInv260 - an unreliable platform added to the blacklist of the AMF, lying about its regulatory status;

● AmosLimited - an unlicensed forex broker red-flagged by both the AMF and the FSMA;

● Logic Crypto - an AMF-blacklisted website, an unlicensed platform;

● Worldwide Expert Fx Trade - a fraudulent platform using a cheap website template providing fake regulatory information, a website carrying an FCA warning;

● NYMEX PIPS - a suspicious platform disclosing zero regulatory information, warned by the FCA;

● MGT STOCK - a shady broker copying details of a licensed entity to deceive the public, warned by the SFC;

● SINOKO - a suspicious website pretending to be operated by an SFC-licensed corporation;

● FX PRO AI - an FCA-flagged unauthorized firm misleading investors by pretending to be affiliated with a reputable broker;

● AcapitalGroup - a murky platform warned by the AMF and the FCA, concealing information regarding its operator;

● Elviva - an unlicensed platform blacklisted by both the AMF and the FCA;

● fidency.net - a supposedly Swiss-based company not commercially registered with the FINMA;

● Finance Maxwell - an unethical broker copying details of an FCA-authorized entity to fool people;

● Investor First Trade - an unlicensed firm flagged by the FCA for copying details of a real counterpart;

● UNIQ Markets - an illegal company unable to provide any regulatory information;

● Bull Invest - a non-supervised company that BaFin has confirmed is a scam.

Other Asked Brokers

In addition to the aforementioned scam brokers, we've received inquiries about these brokers, including IEXS, easyMarkets, Avatrade, Dukascopy, FXCM, FP Markets, FxPro, HotForex, and RoboForex. Although these brokers are providing financial services or products in accordance with relevant regulations, 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.

This week, many novice investors have come to our platform consulting how to start trading on a platform. 

Forex trading can be an exciting and profitable venture, but it also involves some risks and challenges. One of the most critical decisions you'll make as a forex trader is selecting a trustworthy forex broker.

A forex broker is a company that provides you with access to the forex market, where currency buying and selling take place. A good forex broker should offer you a reliable and secure trading platform, competitive pricing, fast execution, and top-notch customer service. Conversely, a poor-quality forex broker could result in financial losses, expose you to fraud, or even disappear with your funds.

Therefore, BrokersView wants to highlight the importance of conducting thorough research before embarking on your trading journey. To minimize the risks of fraud and identity theft, prioritizing a platform's regulatory compliance and security measures should always be your foremost concern.

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 - "if a broker is licensed/regulated/safe or not," we have noticed that our users are particularly interested in regional restrictions, withdrawal instructions, available trading strategies, Demo account, and how to deposit money.

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.