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Balu Vietnam Oct 27, 2021
JP Markets is owned and operated by JP Markets SA (Pty) Ltd, a South Africa-based company once licensed and regulated by the Financial Services Conduct Authority (FSCA) under FSP No. 46855. Nevertheless, the regulatory status of this broker is currently abnormal as FSCA has provisionally suspended its license in accordance with section 11(1)(b). For more details about this broker, you can check our full JP Markets review. In terms of the validity of JP Markets, we argue that it is not proper to define it as a fraud, since this broker had run business in South Africa under regulation before the license was suspended and has been seeking for a chance to re-gain its license. Most importantly, FSCA said it would again look at JP Markets' license application, which means the broker would be quantified to deliver financial investment services once being approved. Overall, it is of certain risk to trade with JP Markets, and we would recommend to choose properly regulated brokers.
Jan Daley Katz United States Oct 28, 2021 FIRST NOTCH TRADING is NOT a legitimate broker and should be avoided at all events. There are several severe red flags on FIRST NOTCH TRADING's website. To start with, this broker presents zero details about its company information as well as necessary trading documents (i.e. terms and conditions, privacy policy, risk disclosure, etc.). Lacking for such vital information is already a huge red flag for potential traders. Besides, this broker claims to be guaranteed and regulated by the Securities and Exchange Commission (SEC). There are three organizations named SEC from different countries (the US, the Philippines and Nigeria), however, FIRST NOTCH TRADING doesn't clarify which SEC it is. According to its phone number +1 (910) 502-3617, which belongs to the US, this broker basically refers to the US SEC. However, the US SEC is not the regulator that approves licenses for brokers carrying out forex trading, and we didn't find such match in the registers of the US SEC, let alone regulatory authorities. So FIRST NOTCH TRADING is currently not regulated by any financial regulator. What's worse, the Spanish regulator CNMV has added FIRST NOTCH TRADING to the 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 here. As per the evidences above, our final verdict is that FIRST NOTCH TRADING 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.
Ronaldo Mexico Nov 08, 2021 Equiti is regulated and licensed by the UK's Financial Conduct Authority (FCA) under firm reference number 528328 and Seychelles Financial Services Authority (FSA) with License No. SDR077. According to our users' reviews, Equiti is a reputable broker which was rated nine out of ten. For more details about this broker you can check our full Equiti review. As a FCA-licensed broker, Equiti is required to follow a series of rigorous rules and obligations, therefore operating in a relatively credible and transparent way with a secure trading environment. Hence, Equiti is considered to be a reliable broker by comparison with unregulated and weak-regulated brokers. Jim United States Nov 15, 2021 World Markets is an UNLICENSED broker and should be avoided at all events. World Markets provides zero information about its regulation and company details, which is the biggest red flag for potential traders. In addition, this broker claims that it is registered in Seychelles, but we didn't find any registration information of this broker from the Seychelles Financial Services Authority (FSA). So World Markets is currently not regulated or overseen by any financial regulator. What's worse, the Italian regulator CONSOB, the UK's regulator FCA and the New Zealand's regulator FMA have successively added World Markets to the alert list to warn the public that this firm is not authorised to provide the investment services in their countries. You can check full alert or warning from CONSOB, FCA and FMA on World Markets respectively. As per the evidences above, our final conclusion is that World Markets 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.Hottest Users Review
SCAM
360Trade Center makes messy and confusing statements on its website, which is quite dubious. First of all, 360Trade Center defines itself as an established broker with 9 years of online-trading, but its domain was just created on December 24, 2020. In addition, this broker claims to be regulated by the US Financial Services Authority (UFSA). In fact, however, the US regulator is the National Futures Association (NFA) rather than the so-called UFSA. And of course we didn’t find any regulation of 360Trade Center from NFA. So 360Trade Center is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
The UK’s Financial Conduct Authority (FCA) added the company to its blacklist, saying that the firm is not authorized by it and is targeting people in the UK: https://www.fca.org.uk/news/warnings/advance-stox
On 14 December 2020, the Hong Kong's Securities and Futures Commission (SFC) has added AF Index to its alert list. It states that AF Index has failed to secure a license, yet is offering its services to citizens of the area: https://www.sfc.hk/en/alert-list/2664.
COINEXX provides the minimum information about its company details and trading license, which is already a red flag for potential traders. According to the information presented on its MT5 software, this broker is operated by Coinexx Ltd, a UK-based company registered with Companies House. However, it doesn't mean the authorization of the Financial Conduct Authority (FCA), the regulator that approves licenses for the brokers in UK. The truth is, BrokersView didn't find any information about its regulation from FCA. So currently COINEXX is actually not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
EagleFX claims to be owned and operated by EagleFX Ltd, a company registered in Dominica. However, Dominica is a notorious offshore zone that does not regulate forex. So currently EagleFX is not regulated or not overseen by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
AAFX Trading claims to be registered with SVG FSA under the registration number of 22916 and the company name of AAFXTRADING COMPANY LTD. However, BrokersView found that there is no matching records on SVG FSA website. Therefore, AAFX Trading is a scam broker, which also means that investors' funds in this broker is unsafe and cannot be protected by any laws.
BrokersView found AGA Traders Group is not regulated or not overseen by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
Alainfx claims to be registered with SVG FSA under the registered number of 25672 as an International FOREX broker, but currently there is no information about this company could be found when we checked on SVG FSA. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
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