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marketsxo

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I want to open an islamic account. Is it possible in Marketsxo?
Chhaiya
Central African Republic
2022-11-02
ANSWER Marketsxo is not a licensed or regulated broker even though it states offers that look good to be true. Marketsxo mentions Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) on its homepage. So we searched SVG FSA, but could not find any results. Besides, SVG FSA does not regulate forex activities or issue forex licenses. Marketsxo also provides a Canadian telephone number to contact. As per Canadian law, Marketsxo shall be regulated by the Investment Industry Regulatory Organization of Canada (IIROC) to provide financial services. However, we did not find any results that matched this broker. Moreover, the British Columbia Securities Commission (BCSC) issued a warning that Marketsxo is not registered to trade in, or advise on, securities or derivatives in BC. You can check the full warning from here.The truth is, Marketsxo 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 Marketsxo and trade with licensed brokers.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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