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

2022-11-18 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 14 Nov, 2022 to 18 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

1. Scam Brokers You Should Stay away from

● InForexEu - a clone firm falsely uses regulatory details of a CySEC-regulated firm;

● FxBellgain - a Czech-based company carrying out financial activities unlawfully;

● PROFX Market - an unlicensed broker in the UK carrying a warning issued by FCA for being a clone firm;

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

● FinexTrader - a scam entity misrepresenting regulatory information and warned by multiple watchdogs, including AMF, FMA, and CONSOB;

● Broker Capitals - an offshore scam warned by the Italy CONSOB;

● Cabana Capitals - merely a registered company in SVG FSA while blacklisted by CNMV;

● Xnvest - an unregulated brand alerted by the France AMF;

● FxWinning - an illicit limited offering financial products and services without valid regulations;

● Stallion Capital - a fraudulent broker falsely claims its regulation by the NZ FMA;

● IGFB - an illegal limited in Dominica unlawfully providing services of financial derivatives and flagged by BaFin and FCA;

Firstradecfd - an unauthorized scam falsely claims its authorizations and regulations under ASIC, FSCA, and FCA.

● XtreamForex - a Marshall Islands-based brand providing financial services without authorization.


2. Regulated Brokers You Could Choose from

● FxGrow - a brand is overseen by CNMV, CySEC, BaFin, VFSC, and LBE;

● SmartFX - a VFSC-regulated broker carrying a certain of risk;

● GemForex - a licensed firm authorized by Mauritius FSC;

● Yadix - a company offering financial services with a license issued by Seychelles FSA;

● Advanced Markets - an authorized brand carrying authorizations issued by FCA and ASIC;

● direktbroker FX - a limited under regulations by CySEC and LBE;

● Decode Global  - a broker running the business with licenses in VFSC and ASIC;

● Tradeo - a licensed firm licensed by FSCA while with a certain risk.


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 leverages, minimum deposits, tax-paying, account choosing and whether a broker allows scalping or not.


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. 

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