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 1 Aug, 2022 to 5 Aug, 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
● Appdewise - an offshore scam engaging in forex service without valid regulations;
● CK Market - an unauthorized entity running a business under no regulations;
● Dino Trading - a UK-based entity that provides financial services without authorization by FCA;
● Monfex - an offshore broker alerted by the Spain CNMV;
● Wise Tradefx - an unlicensed broker falsely claims its regulation by the Seychelles FSA;
● AAFX Trading - a non-supervised entity blacklisted by the HK SFC and the US CFTC;
● NFX - an unregulated company falsely claims its regulation by CySEC and BaFin;
● Global Trading - a Switzerland-based broker warned by the Swiss FINMA;
● SmartTop - an illicit company carrying out financial activities unlawfully;
● AXNFX - a brand involving with forex service without authorizations and regulations;
● Envi FX - an offshore entity offering financial services under no valid regulations;
● Trade Unity - a clone firm using the regulatory details of a FCA-regulated firm;
● Markets Octa - a suspected clone firm falsely claims its regulations by CySEC;
● Orbex24 - an unauthorized company warned by the German BaFin.
2. Regulated Brokers You Could Choose from
● LiteForex (Europe) - a licensed firm regulated by CySEC;
● TIO Markets - a brand overseen by the UK FCA;
● CAPEX.COM - a company running a business under regulation by CySEC and FSCA;
● ProfitLevel - an entity regulated by the Cyprus CySEC;
● Ingot Brokers - a company strictly regulated by ASIC and Seychelles FSA;
● Pure Market - a weakly-regulated broker carrying out financial services with regulations issued by VFSC;
● ForexTB - a broker that provides financial services and products under authorization and regulation by CySEC;
● GMT Markets - a limited with regulation in the Australia ASIC.
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 payment method, spread, and account details.
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.