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Is Fortexo a legit broker or not? Please check.
happyclient
Germany
2021-12-30
ANSWER Fortexo is NOT a legit broker and should be avoid at all events. Fortexo claims to be a brand name owned by FLAB GROUP LTD, a company registered in Saint Vincent and the Grenadines, but we didn't find any result in the registers of Saint Vincent and the Grenadines' Financial Services Authority (SVG FSA). Besides, the SVG FSA has announced that it does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. So Fortexo is currently not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. What's worse, the UK's regulator FCA has added Fortexo into its blacklist and warned the public that this broker has been operating in the UK without a license. You can check full alert or warning here. As per the evidences above, our final conclusion is that Fortexo 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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