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

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 7 Nov, 2022 to 11 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

● SierraInvest - a Dominica-based company carrying out financial activities unlawfully;

● UpSideStake - an illegal limited in the United States providing services of financial derivatives without regulations by NFA or CFTC;

● KUD - a Hong Kong firm falsely claims its regulations by a fake regulator-UK FSA;

● Finarix - an offshore scam carrying a warning issued by the Spain CNMV;

● HONESTUM - an unauthorized entity falsely claims its regulations by the UK FCA and Bahamas SCB;

● RCE Banque - merely a registered company in the UK while not under valid regulation by the FCA and warned by CySEC;

● Kingzcrypto - an unregulated broker in Switzerland blacklisted by the FINMA;

● Cidma CORP - an unlicensed brand falsely claims its regulations by CySEC, Belize FSC, and Mauritius FSC;

● Amtop Markets - a non-supervised firm running the business under no valid regulations;

● E-Fxtrade - a fraudulent entity carrying out financial activities unlawfully;

● AxiCapitals - a scam broker misrepresenting regulatory information and warned by the CONSOB;

● Finex Global Markets - a Poland company carrying a warning issued by FCA for providing financial services without authorization and regulation;

● Wealthmax - an illicit limited claims its regulation by GFA, which is not a forex regulatory body.

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 commissions, trading software, the minimum deposit for account opening, payment methods and whether a broker provides negative balance protection.

Conclusion

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.