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FXTRADEBIT

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Operating status: SCAM

Website: https://fxtradebit.com/

Broker violations and abnormal records
  • 2023-10-09 BrokersView has Reviewed that FXTRADEBIT is an Unregulated Broker

    According to its website, FXTRADEBIT claims to provide trading services such as foreign exchange, stock indexes, precious metals, and cryptocurrencies. It is operated by Fxtradebit Ltd and is headquartered in Cayman. It claims to have supervision in 6 jurisdictions, but no specific regulatory information has been released for users to verify. 

    Upon investigation, there have no matching information was found in the Cayman Islands Monetary Authority(CIMA).

    The truth is that FXTRADEBIT is not regulated by any regulator. Letting it hold or contorl investors' money is unsafe, and the money can not be protected by any laws.

    Therefore, FXTRADEBIT is a scam.

    According to its website, FXTRADEBIT claims to provide trading services such as foreign exchange, stock indexes, precious metals, and cryptocurrencies. It is operated by Fxtradebit Ltd and is headquartered in Cayman. It claims to have supervision in 6 jurisdictions, but no specific regulatory information has been released for users to verify. Upon investigation, there have no matching information was found in the Cayman Islands Monetary Authority(CIMA).The truth is that FXTRADEBIT is not regulated by any regulator. Letting it hold or contorl investors' money is unsafe, and the money can not be protected by any laws.Therefore, FXTRADEBIT is a scam.

Related Complaints

Q&A

What license does FXTRADEBIT hold?

Deepak Sharma
Seychelles
2023-11-01
ANSWER FXTRADEBIT appears to have no financial licenses in forex trading.While FXTRADEBIT marks itself as a globally regulated forex broker, it fails to give any further information about its regulation. This is a red flag for a scam, as legitimate counterparts always prominently display their accreditation and licenses to ensure transparency.Although it vaguely offers addresses located in the Cayman Islands, Seychelles, and the US respectively, our extensive searches in the registers of the Cayman Islands Monetary Authority (CIMA), the Seychelles Financial Services Authority (Seychelles FSA), and the National Futures Association (NFA) didn't find any records matching FXTRADEBIT. Therefore, we have cause to believe that FXTRADEBIT is an unlicensed trading platform.Given the above facts, we strongly suggest investors stay away from FXTRADEBIT. Individuals dealing with this unlicensed platform are vulnerable to fraud and identity theft as there are no rules in place to safeguard their interests. To minimize the risks, it is advisable to choose fully regulated 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.

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.