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?

https://brooksinvest.ltd

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.