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Q&A Weekly Review - What's Asked This Week?

2022-11-04 Brokersview

A Q&A Weekly Review keeps traders informed of the latest regulatory status and trading details of brokers mentioned by our users in a given week.

Here, BrokersView gives a summing up of "Q&A" this week - from 31 Oct, 2022 to 4 Nov, 2022, listing the asked brokers by categorizing them into scammers and regulated ones to visually tell traders whether a broker is subject to necessary rules and principles, and summarizes the most concerning issues related to brokers on the ground of our users' questions.

Brokers Asked in This Week

Scam Brokers You Should Stay away from

● Bitfinexfx - a fraudulent forex trading platform blacklisted by the Ontario OSC;

● OXIAG - an unlicensed broker falsely claims its regulations by MSFA and FSC and is alerted by FCA;

● blackrockcoltd - a merely registered company offering financial derivatives without valid regulation by any regulators;

● DT Securities - an illegal limited carrying a warning issued by the Spain CNMV;

● BUX Forex - a clone firm unlawfully providing services of financial derivatives and warned by the UK FCA;

● GoldenGates - a UK-based brand involving financial derivatives service without authorizations and flagged by the Spain CNMV;

● Marketsxo - an illicit entity offering financial services and products unlawfully;

● Stable Club - a scam broker claims its regulations by the Marshall Islands IRI which actually provides financial services without authorization;

● Raceoption - an offshore firm unlawfully providing forex services and flagged by the Spain CNMV and the Portuguese CMVM;

● SigmaBanc - an unregulated broker falsely uses company details of another scam company;

● BoneyMarket - an unauthorized platform falsely claims its regulations issued by multiple regulatory bodies;

● Areatrading - an unlicensed UK company carrying warnings by two strict regulatory authorities - FCA and Finland FSA.

Questions of The Week

Except for the most frequently asked question - "if a broker is licensed/regulated/safe or not," matters of interest to our users this week include brokers' trading and account details, such as funding methodscommission charging systems, and whether a broker allows EA.


If you are about to invest in forex trading yet not sure about brokers' qualifications, or if you would like to get more information about forex brokers, please do not hesitate to "Ask A Question" in our Q&A section.