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Should I entrust my money to APEX FX INVESTMENT?
Alexander Gafitulina
Cyprus
2023-09-19
ANSWER No, you shouldn't put trust in APEX FX INVESTMENT because it is a scam broker.APEX FX INVESTMENT's contradictory claim about its regulatory status raises a red flag. While it asserts being headquartered in Chicago and licensed by the U.S. Securities and Exchange Commission (SEC), it also presents itself as a government-verified Canadian-based company.However, our search in both the SEC and the Investment Industry Regulatory Organization of Canada (IIROC) registers yielded no results matching APEX FX INVESTMENT, suggesting that it is not licensed by these two regulators.Furthermore, since it claims to provide binary options and forex trading services in the US, it should be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). As such, it is required to be a member of the NFA. However, there aren't any corresponding records in the NFA register either.Additionally, the Financial Conduct Authority (FCA) has warned against APEX FX INVESTMENT, classifying it as an unauthorized firm targeting British citizens. The full FCA warning can be accessed here.Therefore, BrokersView strongly suggests investors steer clear of APEX FX INVESTMENT. Entrusting the platform with funds and personal information is highly risky, as there are no rules in place to prevent fraud and theft. To avoid such risks, it is advisable to choose a fully regulated broker instead.
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