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Is the broker regulated by FCA?
Waqas Shami
Guernsey
2023-05-26
ANSWER Trading with Acefinancesystem Ltd, a non-regulated broker, is strongly advised against despite the enticing deals it presents.Acefinancesystem Ltd claims to be licensed and regulated by the Financial Conduct Authority (FCA), which has been denied in a warning the FCA issued. This broker also asserts to be regulated by the Cyprus Securities and Exchange Commission (CySEC), the Mauritius Financial Services Commission (Mauritius FSC), and the Financial Sector Conduct Authority (FSCA), but our thorough research found its assertion is a lie. Acefinancesystem Ltd displays a license number on its homepage assigned by Universal Flash Storage Association (UFSA) in the US. But this association is a nonprofit mutual benefit corporation for fostering open competition in the development of products and services, and the authority to regulate futures and derivatives markets rests with the National Futures Association (NFA). The fact that no matching data can be found in the NFA register suggests that any offering of financial services or products by Acefinancesystem Ltd is illegal.Regarding your question, Acefinancesystem Ltd is not regulated by the FCA. It is a non-regulated broker posing significant risks to investors including financial losses and identity theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like Acefinancesystem Ltd and choose fully regulated ones instead.
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SurgeTrader is a scam. Right?
Chirag Brahmbhatt
Cambodia
2023-05-26
ANSWER SurgeTrader is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.SurgeTrader marks itself as a reliable broker but fails to provide regulatory information and licensing data, which is a clear scam indicator. Since it claims to be located in the US, we searched for this broker in the registry of the National Futures Association (NFA) but no matching records could be found. Therefore, the offering of financial products or services by SurgeTrader is illegal. In addition, the Comisión Nacional del Mercado de Valores (CNMV) added it to its warning list for providing investment services without authorization.Regarding your question, SurgeTrader is a scam. Once your money is in SurgeTrader's system, there are no rules to safeguard it and you may suffer financial losses and identity theft. We strongly suggest investors stay away from unlicensed brokers like SurgeTrader and choose fully regulated ones instead.
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Does BIT Lords offer fixed spreads?
serge Dor
Netherlands Antilles
2023-05-25
ANSWER BIT Lords is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.BIT Lords claims to be regulated by the Global Financial Authority (GFA). However, there is no such financial watchdog. The name and the related logo are possibly fabricated by the broker to fool unsuspecting investors. In addition, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against Iron BIT Lords, stating that this broker is not entered in its commercial register.Regarding your question, our advice is not to deal with BIT Lords due to its status as an unlicensed broker. Using unlicensed brokers like BIT Lords could pose significant risks to investors, including financial losses and identity theft as there are no rules to safeguard them. Therefore, we strongly suggest investors stay away from unlicensed brokers like BIT Lords and choose fully regulated ones instead.
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Can I use scalping here?
Justin Taylor
Malawi
2023-05-25
ANSWER CauvoCapital is operated by CAUVO BROKERAGE MAURITIUS LTD, a company registered with the Mauritius Financial Services Commission (Mauritius FSC) under license number C119023932.While there are records of this entity in the Mauritius FSC registry, it is critical to note that the regulatory body doesn't provide authentication information or the domains associated with registered entities for investors to verify. This absence of verification mechanisms leaves room for unscrupulous brokers to exploit details such as company name, address or licensing data in order to deceive unsuspecting investors into believing they are legitimate and trustworthy. As such, there is no guarantee that CAUVO BROKERAGE MAURITIUS LTD is the one operating under the trading name of CauvoCapital. Investors must exercise extreme caution and carefully evaluate the risks involved before dealing with a Mauritius FSC-registered broker.Regarding your question, we would recommend contacting customer service through their official website to achieve the latest and most accurate answer. For more details about this broker, please refer to our full review of CauvoCapital.
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I don't want to trade many funds. So I want to know its minimum deposit requirement please.
Lerato
Guernsey
2023-05-25
ANSWER Wafra Investment LLC is a non-regulated broker we advise against trading with despite the seemingly attractive deals it offers.Wafra Investment LLC asserts to be registered with the Finanacial Services Authority of St. Vincent and the Grenadines (SVG FSA) under registration number 1766 LLC 2022. While it is true that matching records exist in the SVG FSA registry, the financial watchdog has explicitly announced that it doesn't possess the authority to issue forex licenses nor regulate entities involved in such activities. Consequently, Wafra Investment LLC's offering of financial services remains unsupervised by the relevant regulatory authority.Regarding your question, we strongly suggest you avoid dealing with Wafra Investment LLC since it is an unlicensed broker, whose provision of investment services or products is not subject to any regulations, thus posing huge risks to investors' funds and personal data. To avoid such risks, investors are encouraged to stay away from unlicensed brokers like Wafra Investment LLC and to choose fully regulated ones instead.
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My withdrawal request is always pending, am I being scammed?
Ahmed Pip King
Tunisia
2023-05-25
ANSWER Alinvest Group is an unlicensed broker we advise against trading with, despite the seemingly attractive deals it offers.Alinvest Group claims to be licensed by the Securities Commission of Malaysia (SC) as a Digital Investment Management (DIM) company, but no corresponding records can be found in the SC registry. This contradictory situation suggests that what this broker claims is a false statement to unsuspecting investors.Regarding your question, failing to process withdrawal requests is a typical scam sign. And some fraudulent brokers even require investors to pay so-called taxes for withdrawal or use other excuses to steal your money. Alinvest Group is unequivocally a scam, and our advice is not to deal with this unlicensed broker because it carries significant risks including financial losses and identity theft. To avoid such risks, investors are suggested to stay away from unlicensed brokers like Alinvest Group and choose fully regulated ones instead.
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How can I get in touch with customer service?
angelo melis
Mexico
2023-05-25
ANSWER DEVON FINANCE FX is an unreliable broker we advise against trading with despite the seemingly attractive deals it offers.DEVON FINANCE FX claims to be operated by Devon Finance Limited, a company registered with the Companies House (CH) under company number 08886301. While it is true that corresponding records exist in the CH register, it is critical to note that the CH serves as a registrar of companies in the UK and doesn't possess authority to regulate financial activities. Merely having a certificate of incorporation from the CH doesn't mean being authorized to legally offer financial products or services. Furthermore, DEVON FINANCE FX asserts to be regulated by the Financial Conduct Authority (FCA), a recognized financial watchdog in the UK. However, the FCA has issued a warning explicitly denying DEVON FINANCE FX's assertion and stating that DEVON FINANCE FX is operating without proper authorization. This contradictory situation raises significant concerns about the legitimacy and compliance of DEVON FINANCE FX's operations.Regarding your question, you may contact them by email, but we strongly suggest you stop dealing with DEVON FINANCE FX since it is a non-regulated broker. Your money in its system is risky as there are no rules in place to safeguard it. You may suffer financial losses and identity theft. Therefore, to avoid such risks, investors are advised to stay away from unlicensed brokers like DEVON FINANCE FX and choose fully regulated ones instead.
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Should I trade with MarkersFin?
Tam Nguyen
Spain
2023-05-24
ANSWER MarkersFin is an unregulated broker we advise against trading with despite the seemingly attractive deals it offers.MarkersFin fails to disclose its regulatory information and licensing data, a clear scam indicator. It is typical for legitimate brokers to display their accreditation and licenses prominently, whereas MarkersFin doesn't provide such information. Given its claim to be located in the US, we searched for MarkersFin in the registry of National Futures Association (NFA) but found no data supporting its legitimacy in futures and derivatives markets. In addition, the Italian Companies and Exchange Commission (CONSOB), in a warning against this broker, has ordered its website to be blacked out since it offers financial services illegally.Regarding your quesition, our advice is not to trade with MarkersFin as there are no rules to protect your funds in its system. You may suffer financial losses and identity theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like MarkersFin and choose fully regulated ones instead.
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I want to trade with GFX. Could you please tell me about its license? Where does it regulated?
John Youssef
Ghana
2023-05-24
ANSWER GFX is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.GFX's website is down, a clear scam indicator. It is critical for a broker to have a properly functioning website facilitating trading and displaying essential information. The absence of a website suggests potential issues with a broker's reliability and resources. In many cases, scam brokers usually abscond with investors' funds after closing their websites. Furthermore, our records show that GFX is not overseen by any regulatory body.Regarding your question, GFX is an unlicensed broker coming with huge risks including financial losses and identity theft. Therefore, investors are strongly suggested to stay away from unlicensed brokers like GFX and choose fully regulated ones instead.
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I opened an account for indices and now I want to use the same account to trade forex. Is that accepted?
Ahmed Aziz
Paraguay
2023-05-24
ANSWER SUPRA ALGO FX is an unlicensed broker we advise against trading with despite the seemingly attractive deals it offers.SUPRA ALGO FX claims in its FAQ section that it is operated by Supra Algo Forex Management Limited in compliance with the rules and regulations of Switzerland. However, we didn't find any matching records in the registry of the Swiss Financial Market Supervisory Authority (FINMA) that could support its legitimacy in the financial industry. This means what it claims is a false statement to unsuspecting investors and any offering of financial products or services by it is illegal. Furthermore, it provides a link, displayed as "certification", at the bottom of its homepage directing to Zefix which shows details of a company named Forex Management GmbH. But no evidence can be found to suggest possible connections between SUPRA ALGO FX and this company. In addition, the Financial Conduct Authority (FCA) has issued a warning against SUPRA ALGO FX for operating in the absence of appropriate authorization.Regarding your question, we strongly suggest you stop trading with SUPRA ALGO FX since it is a non-regulated broker, which could pose huge risks to your funds. As there are no rules in place to prevent fraud or theft, you would suffer financial losses and identity theft once using this platform. Therefore, investors are advised to stay away from unlicensed brokers like SUPRA ALGO FX and choose fully regulated ones instead.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.