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Hi, I cannot find the regulatory information of this broker. Can you help me?
lolatyou
Nepal
2022-09-08
ANSWER BrooksInvest is not a licensed or regulated broker even though it states offers that look good to be true. BrooksInvest claims to be operated by BROOKS INVEST LTD, a UK-based company legally licensed in Vanuatu Financial Services Commission (VFSC). However, we did not find any match result to BrooksInvest in VFSC.Besides, as per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK Financial Conduct Authority (FCA). But there is no results matching BrooksInvest or BROOKS INVEST LTD in FCA's registry.More importantly, the Spanish National Securities Market Commission (CNMV) warned the public that the firm is not authorised to provide the investment services. You can chech the full warning from here.The truth is, BrooksInvest is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like BrooksInvest and trade with licensed brokers.
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Hi, I would like to start trading with Brookinvest. However, Im not sure if my fund will be protected and the website is encrypted. Is this broker safe?
AhBee
Maldives
2022-03-27
ANSWER BrooksInvest is an unlicensed broker and should be avoided at all events. BrooksInvest claims to be operated by BROOKS INVEST LTD, a UK-based company licensed in Vanuatu Financial Services Commission (VFSC). However, it's not regulated by any regulator when we checked on the UK's Financial Conduct Authority (FCA) and VFSC. This broker also states that its market is primarily in the United States and Canada, but in reality, we didn't find the regulatory information about BrooksInvest in the register of NFA (the regulator in the US) and IIROC (the regulator in Canada). So BrooksInvest is a shady broker without valid supervision and authorization from any financial regulator. That means investors' funds in this broker are unsafe and cannot be protected by any laws. What's worse, the Spanish regulator CNMV has added BrooksInvest to its alert list to warn the public that this firm is not authorised to provide the investment services in the country. You can check the full warning here. Our verdict is that BrooksInvest is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders stay away from unregulated brokers like BrooksInvest and trade with licensed brokers.
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What's your rating for BrooksInvest? Please let me know.
Christopher
Australia
2021-10-26
ANSWER BrooksInvest is NOT a licensed broker and should be avoided at all events. BrooksInvest claims to be operated by BROOKS INVEST LTD, a UK-based company legally licensed in Vanuatu Financial Services Commission (VFSC). However, it's actually not regulated by any regulator when we checked on the UK’s Financial Conduct Authority (FCA) and VFSC. This broker also states that its market is primarily in the United States and Canada, but in reality, we didn't find the regulatory information about BrooksInvest in the register of NFA (the regulator in the US) and IIROC (the regulator in Canada). So BrooksInvest is a shady broker without valid supervision and authorization from any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. What's worse, the Spanish regulator CNMV has added BrooksInvest to its alert list to warn the public that this firm is not authorised to provide the investment services in the country. You can check full alert or warning from CNMV on BrooksInvest here. Our final verdict is that BrooksInvest is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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