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Is Merge Global Assets regulated
Shushan Castelino
Slovakia
2023-09-22
ANSWER No, Merge Global Assets is not regulated.The website of Merge Global Assets claims that it was established in 2019. However, its domain "mergeglobalassets.com" was only registered in November 2022. This discrepancy between the website's age and the broker's history is a sign of suspicion.Furthermore, the broker does not have a valid license to offer forex services in the UK. It only shows a certificate of incorporation from the Companies House (CH), which is not sufficient to prove its legitimacy. The broker also needs to get an approval from the Financial Conduct Authority (FCA), the regulator of financial services in the UK. However, the FCA has warned that Merge Global Assets is an unregulated firm that is illegally targeting UK residents. You can access the full FCA warning here.Therefore, BrokersView strongly suggests investors stay away from Merge Global Assets which carries significant risks. Individuals dealing with the platform are exposed to fraud and identity theft, and there are no rules in place to safeguard them. If the platform goes out of business or absconds, its clients may not be able to retrieve their funds or get compensation. To avoid this disaster, it is advisable to choose a fully regulated broker instead.
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Is GlobalRockies reliable?
Moshidi Gashia
Gaithersburg
2023-09-21
ANSWER No, GlobalRockies is not reliable and it is a fake broker flagged by regulatory bodies.GlobalRockies fails to disclose any information regarding its regulatory status. This lack of transparency raises a red flag, as legitimate brokers always prominently display their accreditation and licenses.Meanwhile, the unlicensed activities by GlobalRockies have drawn attention from two financial regulators: the Swiss Financial Market Supervisory Authority (FINMA) and the Federal Financial Supervisory Authority (BaFin). These two regulatory bodies have issued warnings against GlobalRockies, further substantiating its illegitimacy. You can refer to here for the FINMA warning, and here for the BaFin warning.Therefore, BrokersView strongly suggests investors avoid GlobalRockies. Without regulatory oversight, its clients are exposed to significant risks of fraud and identity theft. If it goes out of business or absconds, they may not be able to recover their funds or get compensation. To mitigate risks, it is better to choose a fully regulated broker.
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Who's the regulatory body of DBG?
Onke sishuba
Bolivia
2023-09-21
ANSWER DBG is a fake broker and not subject to any regulatory body.On the website of DBG, it simply refers to its operator as DBG Markets but fails to provide any further details for this claim. It seems to be creating a false impression and misleading the public that it is related to this reputable forex broker. However, no evidence substantiates its assertion and the so-called connection only exists within its website.Despite providing an address in Hong Kong, DBG is not registered with the Hong Kong Securities and Futures Commission (SFC). Furthermore, the German Federal Financial Supervisory Authority (BaFin) has launched an investigation into DBG and warned consumers about it for providing financial and investment services without the required authorization. You can refer to here for the full report.Therefore, BrokersView strongly suggests investors avoid DBG which poses significant risks of fraud and identity theft. There are no rules in place to safeguard the interests of its clients and ensure it follows the regulatory standards. If it goes out of business or absconds, traders engaging with it may not be able to reclaim their money or get compensation. To avoid this disaster, it is advisable to choose a fully regulated broker.
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His true or scam
Den
Malaysia
2023-09-21
ANSWER Forbes Capital is a scam broker that BrokersView has warned about as early as 2022.According to our records, Forbes Capital claims to be a forex broker with years of experience. However, its domain "forbestrading.com" was first registered in July 2022. This discrepancy between the website's age and its claim raises a red flag. Investors must be alert that it may be a scam.When it comes to its regulatory status, Forbes Capital fails to disclose any information. It is a significant scam indicator, as legitimate brokers always prominently show their accreditation and licenses to ensure transparency.More importantly, the Securities Commission Malaysia (SC) has added Forbes Capital to its Investor Alert List for carrying on fraudulent activities. This action by the Malaysian financial watchdog further substantiates the platform's illegitimacy.Therefore, we strongly suggest you do not have further dealings with Forbes Capital. Its request for money is one of the common tactics used by scammers. A lot of victims have learned the hard way that fraudsters will never repay. Please stop sending money and giving away personal information. It is advisable to report it to the local police and relevant financial authorities.In addition, its website "https://www.forbestrading.com/" is currently inaccessible. We kindly request you provide us with its new address if it has one. It will be very helpful in our fight against scammers.
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Im looking for a reliable broker to invest. Is FidelityCFD good or not?
Myrna
Colombia
2023-09-21
ANSWER FidelityCFD is not a good choice for investors because it is a scam broker.FidelityCFD's regulatory status is not true. It says it has been a forex broker since 2015, but its domain "fidelitycfd.com" was first registered in June 2023. It also claims to be the trading name of Top Markets Ltd, a company supposedly registered with the Hong Kong Securities and Exchange Commission. But there is no such authority in Hong Kong and what this broker actually needs is a license from Hong Kong Securities and Futures Commission (SFC). However, we couldn't find any records matching Top Markets Ltd on the SFC register.Moreover, FidelityCFD is allegedly domiciled in the UK. However, the UK Financial Conduct Authority (FCA) has added it to its warning list for providing financial services or products in this jurisdiction without the required authorization. You can refer to here for the full FCA warning.BrokersView strongly suggests investors steer clear of FidelityCFD. It poses significant risks, such as fraud and identity theft. No rules are in place to safeguard the interests of its clients and ensure that it follows the regulatory standards. Once any violation occurs, traders engaging with the platform may not be able to retrieve their funds or get compensation from any official body. To avoid this disaster, it is advisable to choose a fully regulated broker instead.
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I've found some bad reviews about FOREXTRON Innovation Markets. Are they true? I don't know. Could you please tell me whether I should trade with FOREXTRON Innovation Markets or not?
rozay stunna
Guinea
2023-09-21
ANSWER FOREXTRON Innovation Markets is a scam platform and that is the reason why it has received many negative reviews. BrokersView strongly advises you to stay away from this bogus broker.FOREXTRON Innovation Markets says it has been serving its clients since 2016, but its website domain "forextron-innovationmarkets.online" was only created in April 2023. This raises suspicion about its credibility.FOREXTRON Innovation Markets also claims to be a top-rated broker regulated by the Australian Securities and Investments Commission (ASIC), the Australian financial watchdog. However, we could not find any company with that name on the ASIC register.Moreover, FOREXTRON Innovation Markets supposedly operates from the UK, but it does not have a license from the Financial Conduct Authority (FCA). Consequently, the FCA issues a warning against FOREXTRON Innovation Markets, further substantiating its illegitimacy.FOREXTRON Innovation Markets is a scam broker that poses substantial risks of fraud and identity theft. There are no rules in place to safeguard its clients' interests and ensure it follows regulatory standards. To avoid this disaster, it is advisable to choose a fully regulated broker instead.
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Is BITMINEEXPERT Regulated?
Sai Kikuchi
Philippines
2023-09-21
ANSWER No, BITMINEEXPERT is not regulated.BITMINEEXPERT is a fake broker that uses a generic website template that many scammers also use. This shoddy template provides false claims about being regulated by various authorities, such as the US Commodity Futures Trading Commission (CFTC), the Belize Financial Services Commission (Belize FSC), and the Cyprus Securities and Exchange Commission (CySEC). Consequently, these claims are unfounded. We also conducted a search and verified that BITMINEEXPERT is not regulated by them.Moreover, BITMINEEXPERT tries to look legitimate by providing an address in the UK, but the Financial Conduct Authority (FCA) has warned that this platform does not have a license in this jurisdiction. The full FCA warning can be accessed here.Therefore, BITMINEEXPERT is a scam broker that poses substantial risks of fraud and identity theft. The lack of regulatory oversight leaves its clients unprotected in face of such risks. To avoid this disaster, the better option is to choose a fully regulated broker.
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In your opinion, SMARTMARKETTRADE is trustworthy broker or not?
Claudio Addamo
Egypt
2023-09-21
ANSWER SMARTMARKETTRADE is not a trustworthy broker and operates without a license. The UK Financial Conduct Authority (FCA), a reputable financial regulator, has issued a warning against it.One of the signs that SMARTMARKETTRADE is a fraudulent platform is that it does not reveal any details about its regulatory status. If a broker conceals such details, you must be aware that it may be a scam.While the platform claims to be based in the UK, it fails to seek authorization from the FCA. Consequently, the UK financial regulator warns that it is not licensed by them to provide financial services or products in this country. The full FCA warning can be accessed here.SMARTMARKETTRADE is a platform that investors should avoid at all costs. It poses high risks of scam and identity theft. There are no regulations to safeguard the interests of the clients and ensure the broker follows the standards of the industry. A safer option is to choose a broker that has a valid license from a reliable regulator.
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How's the review of this broker? Can I trust it?
TAHIR KHAN
Saipan
2023-09-20
ANSWER Jecbit Finance Limited is a fraudulent platform that pretends to be authorized by the New Zealand Financial Markets Authority (FMA). BrokersView warns you to stay away from this clone firm, as it could cause you serious losses.Jecbit Finance Limited claims to be a registered company in New Zealand, but this is a lie. It uses the address, NZ Business Number (NZBN) and other business registration details of another company, JEC Finance Limited, which has nothing to do with it. The FMA has issued a warning against Jecbit Finance Limited, saying that it is not regulated by them and that it is misleading investors. The full warning can be accessed here.As such, Jecbit Finance Limited is a scam that could harm investors. Entrusting the platform with funds and personal information is risky, as there are no rules in place to safeguard traders. To avoid these dangers, it is better to choose a broker that is fully licensed and regulated by a reputable authority.
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Hi, please check the license of Nord Capital Limited for me. Appreciate it!
Mustafa Hall
Lithuania
2023-09-20
ANSWER Nord Capital Limited lacks the necessary license to carry out financial activities in the forex market.Nord Capital Limited openly confessed that they have no license to operate as a bank or a security firm. The company is allegedly domiciled in Switzerland, and the Swiss Financial Market Supervisory Authority (FINMA) has issued a warning against Nord Capital Limited for not having been commercially registered. You can refer to here for the full warning.Therefore, BrokersView strongly suggests investors avoid Nord Capital Limited. The unlicensed platform poses substantial risks of fraud and identity theft. Without regulatory oversight, traders' funds and personal information will not get protections by rules. If any voilation occurs, individuals dealing with the fake broker may not be able to recover their money or get compensation. To avoid such risks, it is advisable to choose a fully regulated broker.
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