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TrothFX

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Operating status: SCAM

Website: https://ar.trothfx.com/

Broker violations and abnormal records
  • 2024-03-12 The Seychelles FSA issues a warning against TrothFX

    On 13 March 2024, the Seychelles Financial Services Authority (Seychelles FSA) issued a warning against TrothFX, saying it is not related to any entity licensed or regulated by the FSA in any capacity. https://fsaseychelles.sc/media-corner/regulatory-updates/scam-alert-unauthorized-use-of-websites-the-unlawful-website-3

    On 13 March 2024, the Seychelles Financial Services Authority (Seychelles FSA) issued a warning against TrothFX, saying it is not related to any entity licensed or regulated by the FSA in any capacity. https://fsaseychelles.sc/media-corner/regulatory-updates/scam-alert-unauthorized-use-of-websites-the-unlawful-website-3
  • 2024-03-12 BrokersView has reviewed that TrothFX is an unregulated broker

    According to its website, it claims that it is regulated by multiple regulatory agencies and displays relevant information on its website. Upon investigation, no matching information was found in the Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA), and Cayman Islands Monetary Authority (CIMA). This is a very dangerous sign.

    In addition, the Seychelles Financial Services Authority (Seychelles FSA) issued a warning against TrothFX, saying it is not related to any entity licensed or regulated by the FSA in any capacity.

    In essence, TrothFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    TrothFX appears to be a scam.

    According to its website, it claims that it is regulated by multiple regulatory agencies and displays relevant information on its website. Upon investigation, no matching information was found in the Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA), and Cayman Islands Monetary Authority (CIMA). This is a very dangerous sign.In addition, the Seychelles Financial Services Authority (Seychelles FSA) issued a warning against TrothFX, saying it is not related to any entity licensed or regulated by the FSA in any capacity.In essence, TrothFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.TrothFX appears to be a scam.

Related Complaints

Q&A

When can I have my money back after submitting my withdrawal request to TrothFX?

ericastro
Australia
2024-04-26
ANSWER If you are contemplating using TrothFX as your broker, we strongly advise against it. TrothFX is not a legitimate trading platform.The forex brand purports to be operated by the TrothFX Group and claims to be regulated by several major financial regulators. To lend credibility to their claims, TrothFX provides specific details about its supposed licenses. However, our checks with the relevant financial watchdogs tell a different story. There are no records from these authorities to back up its regulatory claims. The broker's links attached to the licensing data merely redirect traders to TrothFX's homepage, not to the pages of the relevant financial regulators.Among the financial authorities that TrothFX cites is the Seychelles Financial Services Authority (Seychelles FSA). To set the record straight, the Seychelles FSA has issued a warning against TrothFX, refuting its claims of authorization.Therefore, TrothFX is fraudulent. Individuals who deal with this deceptive broker are at risk of fraud and identity theft. To mitigate such risks, investors are advised to choose fully regulated brokers over unregulated ones like TrothFX.
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