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The information on IM MARKETS' website is too little. Can anyone tell me if it is a good or bad broker.
Ayodeji Ibrahim
Bulgaria
21 hours ago
ANSWER Given its unlicensed status, we strongly suggest that you choose a fully regulated broker instead of IM MARKETS.While it claims to be registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), it is crucial to note that forex trading brokerage activities are not licensed under this jurisdiction. This means that even though it holds registration with the SVG FSA, IM MARKETS remains an unlicensed broker because its financial activities are not subject to the offshore financial regulator.As such, IM MARKETS poses risks of potential fraud and identity theft, and its customers are not protected by regulations should any issues arise. For a safer trading environment, we recommend that investors opt for fully regulated brokers rather than unregulated ones like IM MARKETS.
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Is my money safe with Afterprime?
Amin Sadaf
Bahamas
2024-04-17
ANSWER Afterprime is a licensed broker under the jurisdiction of the Cyprus Securities and Exchange Commission (CySEC). Brokers subject to the authority's oversight are required to keep client funds separate from their own and provide the Investor Compensation Fund. As stated in the Help Section of Afterprime's website, "Eligible clients are covered with an amount either equal to twenty thousand Euros (EUR 20,000), or 90% of the covered investor's claim, whichever is lower (per client)".However, investment carries inherent risks, and all the protective measures are designed to mitigate risks but cannot completely eliminate them. Investors should consistently exercise utmost caution when dealing with a broker and conduct thorough research when selecting one.
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Inefex kept pushing me to deposit more.
Niloy
Cyprus
2024-04-10
ANSWER Inefex purports to be operated by Novir Markets Ltd, a company allegedly licensed by the Mauritius Financial Services Commission (Mauritius FSC). However, it's important to note that the Mauritius FSC discloses limited information about its licensees. The contact information available on the register is even allowed to be linked to the management companies rather than the licensees themselves. Such circumstances could potentially lead to identity theft cases, where unscrupulous brokers unauthorizedly use the licensing data of other entities to deceive unsuspecting investors into believing in their legitimacy. However, the limited information available discourages investors from verifying the authenticity. Therefore, we consistently highlight the risks associated with dealing solely with Mauritius FSC-licensed brokers.Furthermore, Inefex's performance appears to be subpar recently, as we consistently receive negative reviews or complaints about them. These serve as red flags. Investors should always conduct thorough research when selecting a forex broker. Reviews from other traders are crucial.
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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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