ANSWER If you are contemplating using TrothFX as your broker, we strongly advise against it. TrothFX is not a legitimate trading platform.The forex brand purports to be operated by the TrothFX Group and claims to be regulated by several major financial regulators. To lend credibility to their claims, TrothFX provides specific details about its supposed licenses. However, our checks with the relevant financial watchdogs tell a different story. There are no records from these authorities to back up its regulatory claims. The broker's links attached to the licensing data merely redirect traders to TrothFX's homepage, not to the pages of the relevant financial regulators.Among the financial authorities that TrothFX cites is the Seychelles Financial Services Authority (Seychelles FSA). To set the record straight, the Seychelles FSA has issued a warning against TrothFX, refuting its claims of authorization.Therefore, TrothFX is fraudulent. Individuals who deal with this deceptive broker are at risk of fraud and identity theft. To mitigate such risks, investors are advised to choose fully regulated brokers over unregulated ones like TrothFX.
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