BrokersView

Search
Download
English
Sign In

weak regulation

Newest

Popular

Is BCR legitimate or not?
Ayilara
Brazil
2024-12-12
ANSWER Dear Investor, Thank you for reaching out to us. We currently find that BCR is licensed by both the British Virgin Islands Financial Services Commission (BVI FSC) and the Australian Securities and Investments Commission (ASIC). However, the specific URL you inquired about may only fall under BVI FSC jurisdiction. Bacera Co Pty Ltd., which holds the ASIC license, has announced that the accounts of non-Australian clients of BCR would be opened under the BVI FSC-licensed entity BCR Co Pty Ltd. Given this situation, your account would be subject to BVI FSC jurisdiction, which is known for lax supervision and minimal protections for investors due to its offshore nature. In addition to its regulatory status, it is critical to note that we have recently received many reports from BCR customers about poor support and withdrawal issues. This reflects the potential risks. Customer reviews are also a criterion for assessing a broker's reliability. Therefore, we suggest you reconsider your choice of BCR and exercise extreme caution when dealing with it.
See more
Could you help verify the legitimacy of BelleoFX?
Sino Sandeep
Kenya
2024-11-10
ANSWER Dear Investor,We understand the distress and frustration this issue may have caused you. BelleoFX is believed to be a risky trading platform due to its questionable legitimacy. The registration number 26000BC2020, allegedly from the Financial Services Authority of St. Vincent and The Grenadines (SVG FSA), does not exist. While there is a company with a similar name to BelleoFX, Belleo Markets LLC, this company's SVG FSA registration is currently being cancelled.Regarding the supposed license from the Mauritius Financial Services Commission (Mauritius FSC), the limited information provided by the authority makes it challenging to verify if BelleoFX and the services provided through belleofx.com are truly licensed and supervised by the Mauritius FSC. There might be potential identity theft involved, where a shady broker copies information from a genuine firm on the Mauritius FSC register to appear legitimate. Additionally, as an offshore area, Mauritius provides lax supervision and minimal protections.We still encourage you to file a complaint with the Mauritius FSC. Meanwhile, you are welcome to submit one to our platform at https://www.brokersview.com/complaint. Our dedicated team will thoroughly review your case and work diligently to help you find possible solutions.
See more
FX Novus major scam ?
Cryptic
Malaysia
2024-11-05
ANSWER Dear Investor,Thank you for reaching out to us. We researched the website of Fx Novus (fxnovus.io) and are concerned that it is a risky trading platform.The website claims to be regulated by the Financial Sector Conduct Authority (FSCA), stating the brand is operated by FXNovus (PTY) LTD with an FSP No. 50963. We found corresponding records on the FSCA's register, but the information disclosed there is limited and lacks essential details about the licensee. This makes it challenging to verify the connection between Fx Novus (fxnovus.io) and the holder of the FSP No. 50963. Simply put, the information from the FSCA cannot adequately prove that Fx Novus and the services provided through fxnovus.io are truly supervised by the FSCA. There might be a potential of identity theft—this platform might copy information from a genuine firm registered with the FSCA to appear legitimate and credible.As for the alleged affiliation with Peaksight Ltd, a company licensed by the Cyprus Securities and Exchange Commission (CySEC), it remains unverified. Information from the CySEC register does not support a connection between these two entities. Even if this affiliation were true, it wouldn't necessarily mean that FXNovus is fully regulated. Being part of a group with a licensed entity does not automatically grant regulatory status to all companies within the group. Furthermore, even if FXNovus were subject to that license, the oversight from an offshore jurisdiction is generally weak, providing minimal protection.We suggest you exercise extreme caution with Fx Novus. Should you have any further inquiries or need assistance, please do not hesitate to contact us.
See more
Maunto? a scam?
vimma india
India
2024-11-05
ANSWER Dear Investor,We've looked into Maunto and believe it to be a risky trading platform.This is a relatively new platform. We found that many subpages of the website are still incomplete. Although Maunto claims to be registered in St. Lucia, it cannot be considered reliable since this offshore jurisdiction does not license forex trading activities and provides minimal supervision and regulatory protections. Regarding their license from the Mwali International Services Authority (MISA), it's important to note that this authority is questionable. The Central Bank of Comoros has officially denied any association with MISA, declaring it a fabricated entity without any regulatory authority. Investors should be informed about this situation.Therefore, Maunto presents significant risks. To mitigate these risks, we recommend opting for regulated brokers supervised by top-tier financial regulators instead.
See more
Potential Scam? Hey CS, can you help? Envi FX isn't responding to my withdrawal requests.
Rachelle Pejovic
Thailand
2024-11-04
ANSWER Dear Investor,Thank you for reaching out to us. We understand the distress and frustration this issue may have caused you. Envi FX is a broker supervised by offshore authorities that offer minimal protections for investors compared to top-tier counterparts. Notably, the Mwali International Services Authority (MISA) has been flagged by the Central Bank of Comoros as a fake authority, raising concerns about its legitimacy. However, we still encourage you to file a complaint with MISA to give it a try.Additionally, please file a complaint on our platform at BrokersView Complaint. Our dedicated team will thoroughly review your case and work diligently to help you find a possible solution.
See more
Is Neuron Markets registered with any country?
Huma Oracle
Pakistan
2024-09-30
ANSWER Dear Investor,Thank you for reaching out. While Neuron Markets claims to hold a license from the Mauritius Financial Services Commission (Mauritius FSC) under number GB23201856, it is critical to note that the broker comes with certain risks.According to the Mauritius FSC, the name of the licensee is NEURON MARKETS INTERNATIONAL. However, the authority does not disclose complete information about the license holder, including the web address through which it provides services. This lack of transparency hinders the ability to verify Neuron Markets' claim of being licensed or to establish a solid connection between the registered entity, NEURON MARKETS INTERNATIONAL, and the URL neuronmarkets.com. Therefore, it might be a potential case of identity theft.In addition, Mauritius is an offshore financial center, and the oversight there provides minimal protections for investors. Therefore, funds entrusted with Neuron Markets are not fully protected. It is prudent to conduct thorough research before committing real money and to exercise utmost caution. It is recommended to opt for brokers regulated by top-tier watchdogs.
See more
please review the site of IC Trading
traderFX
Italy
2024-09-13
ANSWER Dear Investor,Thank you for reaching out.IC Trading seemly operates independently from IC Markets and is licensed by the Mauritius Financial Services Commission (Mauritius FSC), under Raw Trading (Mauritius) Ltd. Due to the lax regulation by Mauritius FSC, we advise exercising extreme caution. This regulator does not offer the same level of protection as top-tier financial regulators, and its limited information on licensees can be exploited by fraudsters.From a risk perspective, we strongly recommend reconsidering your choice to trade with IC Trading. Choosing a well-regulated broker is crucial for protecting your funds and rights. Strict supervision ensures adherence to legal frameworks and promotes transparency. Given that IC Trading is only licensed by the offshore regulator Mauritius FSC, it is advisable to proceed with utmost caution.
See more
Warren Bowie & Smith No 1 scam company don't invest money.
sivaguru_vino@yahoo.co.in
United Arab Emirates
2024-09-09
ANSWER Dear Investor,We understand the distress and frustration this issue may have caused you. We urge you to gather all the evidence and report it to your local authorities. Discontinue any engagement with Warren Bowie & Smith regardless of what they claim, or you may risk losing more of your money.The broker solely claims to be licensed by the Mauritius Financial Services Commission (Mauritius FSC), but offshore supervision provides minimal protection. That's why we always underscore the importance of trading with brokers regulated by top-tier financial regulators.We also encourage you to file a complaint on our platform at https://www.brokersview.com/complaint. Our dedicated team will thoroughly review your case and work diligently to help find a possible solution.Lastly, we would like to alert you to Recovery Room Scams. You may be contacted by individuals or firms claiming they can help you get your money back. However, they most likely do not have the necessary techniques and intend to exploit your desire for refunds to defraud you further.
See more
is Sway markets regulated?
Kah Wei sweilem
United States of America
2024-08-28
ANSWER Dear Investor,Thank you for reaching out. While Sway Markets is under a certain level of regulatory oversight, we advise caution when dealing with this broker.Sway Markets claims to be registered in St. Vincent and the Grenadines, an offshore center known for its lax regulations. The financial authority there does not license or regulate forex trading brokerage activities. Additionally, Sway Markets claims to hold an AR license from the Australian Securities and Investments Commission (ASIC). However, there is no solid evidence to verify this claim, as ASIC does not provide the registered web address of the licensee for verification.Therefore, Sway Markets is not operating in a strictly regulated environment, and investors are not fully protected by stringent rules. For a safer trading experience, we recommend choosing brokers that are fully regulated by top-tier financial watchdogs.
See more

1-10 of 104 questions

Hot Topics

Most Viewed

App Store

Google Play

Company Shop Application About Us Our Methodology Privacy Policy Contact Us

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.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.