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bein markets

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What license does it have?
mr Wu
Dominican Republic
2023-06-18
ANSWER Bein markets is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Bein markets claims to be an authorized representative of Royal ETP LLC., a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under registration number 149LLC2019. While we did find matching records in the SVG FSA register, investors should be aware that the offshore financial watchdog has explicitly stated that it neither issues licenses for forex trading or brokerage nor regulates entities involved in such activities. As such, the financial services or products offered by Bein markets remain unsupervised by the relevant regulatory body.Furthermore, Bein markets asserts that Royal ETP LLC is powered by Royal Group Holding, which supposedly holds licenses under the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Vanuatu Financial Services Commission (VFSC). However, neither company exists in the registers of the aforementioned authorities, further undermining Bein markets' reliability.Regarding your question, Bein markets only has an SVG FSA registration license, which still cannot support its legitimacy. It is an unregulated broker coming with significant risks such as financial losses and identity theft, as there are no rules in place to safeguard investors. Therefore, to avoid such risks, we strongly suggest investors avoid unregulated brokers like Bein markets and choose a fully regulated one.
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