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

2022-12-02 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 28 Nov, 2022 to 2 Dec, 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

● Lions Broker - a fraudulent brand warned by the France AMF;

● Bithebank - an illicit firm offering financial products and services without valid regulations and alerted by the Italy CONSOB;

● XS Plus - a clone broker falsely claims to be regulated by CGSE and CySEC;

● Trade Villa Online - a US-based company under no valid regulation by the US NFA;

● Esplanade - merely a registered company in SVG FSA while not under authorizations and regulations by any regulators;

● BtcMarketCap - an unregulated limited carrying warnings issued by BCSC and OSC;

● Uni Borsa - a brand engaging in financial derivatives services without any regulations by financial regulators;

● ICapital Global FX - an illegal limited in the United Kingdom unlawfully providing services of financial derivative;

● Sword Capital - an unauthorized broker falsely claims its authorizations and regulations under FCA and CMA.

● TradeLandFX - an offshore scam misrepresenting its regulatory information in SVG FSA;

● PowerRich - a non-supervised entity running the business under no valid regulations;

● Standex Capital - an unlicensed broker in Luxembourg carrying a warning issued by Luxembourg CSSF.


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 withdrawal fees, details of the swap, and client regional registration.


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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