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Is Crownstone good for investment?
Vigan Crouan
Dominica
2024-07-17
ANSWER No, Crownstone is risky due to its unlicensed status.Although the broker is registered in St. Lucia as an International Business Company, this registration does not imply authorization from relevant financial authorities. More importantly, the Financial Services Regulatory Authority (FSRA) of St. Lucia has stated that forex trading activities are not licensed in the country. This means Crownstone's forex trading operations are not permitted.In light of this, Crownstone seems to be operating in an unregulated environment, rendering its offerings highly risky. To protect their hard-earned money from potential fraud schemes, investors are strongly advised to stay away from unregulated brokers like Crownstone and instead choose fully regulated ones.
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Is FXTM safe and legit?
Tree
Singapore
2024-07-05
ANSWER FXTM is a brand name of Exinity Group. Currently, it holds licenses from four financial authorities:1) Exinity Capital East Africa Limited is regulated by the Capital Markets Authority of the Republic of Kenya (Kenya CMA) with license number 135;2) Exinity UK Limited is authorized and regulated by the Financial Conduct Authority (FCA) with license number 777911;3) Exinity Limited is regulated by the Financial Services Commission of the Republic of Mauritius (Mauritius FSC) with license number C113012295, and licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 50320.Oversight by financial watchdogs is crucial in ensuring a forex broker's adherence to regulatory standards and in providing legal channels for investors to protect their interests should any issues arise with the brokers they supervise. This oversight contributes to the greater reliability of regulated brokers compared to their unregulated counterparts. However, it's important to recognize that regulations do not entirely eliminate the risk of brokers breaching these rules. As such, even though FXTM is a licensed broker, we strongly advise you to conduct further research on the broker by reviewing news articles and customer feedback.BrokersView, as a global broker review platform, offers valuable insights and information about FXTM. We invite you to explore our website for pertinent details regarding their services. Additionally, it is recommended to experiment with their Demo account before engaging in real-money transactions, which can provide a practical understanding of their trading conditions.Undertaking comprehensive research is wise before investing your finances.
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What documents are needed when opening an account with Cap House?
Tim Capell
Germany
2024-06-26
ANSWER It is strongly advised against opening an account with Cap House, an unregulated broker.Cap House claims to be a reliable broker by showcasing an incorporation certificate from Saint Lucia. However, such a registration does not equate to financial certification, licensing, or regulation. A search for Cap House in the Financial Services Regulatory Authority (FSRA) database yielded no matching information. Additionally, it is important to note that Saint Lucia does not authorize foreign exchange trading.Given these factors, Cap House should be approached with caution, as it exhibits characteristics that are commonly associated with untrustworthy operations. Investors should stay away from unregulated brokers like Cap House and instead opt for fully regulated ones.
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Is BenefitFX legit?
Morton5
Australia
2024-06-25
ANSWER No, BenefitFX is not a legitimate broker.The broker claims to be operated by Mortelle Ltd, a company allegedly registered with the Marshall Islands Registry (IRI) to establish its legitimacy. However, our search in the IRI register indicates that the company's registration has been canceled. Moreover, it is crucial to note that mere registration with the IRI does not constitute evidence of legitimacy in the forex market, as this agency does not have the authority to license and regulate forex trading activities.Given these facts, BenefitFX is operating in an unregulated environment, which poses additional risks to investors. To protect themselves from falling victim to potential fraud schemes, investors are advised to avoid unlicensed brokers like BenefitFX and instead opt for fully regulated ones
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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.

Disclaimer:

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.