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Should I pay tax to the broker?
Calvin
Gambia
2023-06-09
ANSWER ETHBTC is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.ETHBTC's website currently shows that it "is under construction". This is a common sign of a scam, as a properly-functioning website is critical for a broker to display essential information including regulatory information and licensing data, and to facilitate trading. The failure of a broker's website to function well can be considered as a red flag, suggesting potential issues with the broker's operation and reliability. According to our data, ETHBTC used to claim that it is overseen by the National Futures Association (NFA). However, no corresponding records exist in the NFA registry. This contradictory situation further proves that ETHBTC is a non-regulated broker.Regarding your question, if ETHBTC asks you to pay extra fees or taxes for withdrawal, please stop sending money to them. It is a typical withdrawal scam. ETHBTC is an unregulated broker, coming with huge risks including financial losses and identity theft as there are no safeguards in place to protect investors. Therefore, we strongly suggest investors stay away from unlicensed brokers like ETHBTC and choose fully regulated ones instead.
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This is a scam?
paolo skopulus
Ecuador
2023-06-08
ANSWER SRFx Trades is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.SRFx Trades claims to be operated by SRFx Trades Limited, a company purportedly incorporated in Saint Vincent and The Grenadines. However, our search for this company in the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) didn't yield any results. This means that any financial services or products offered by SRFx Trades are outside the regulatory framework. Furthermore, the SVG FSA has explicitly stated that it doesn't issue forex licenses nor does it regulate entities involved in such activities.Regarding your question, SRFx Trades is a scam. It is a trading platform coming with huge risks, including financial losses and identity theft, which could be financially and personally devastating. Once your money and personal information are held by this broker, there are no rules to safeguard them. Therefore, to avoid such risks, investors are strongly suggested to stay away from unlicensed brokers like SRFx Trades and opt for fully regulated ones.
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Where can I get the details of account types?
globaltrder
Guinea
2023-06-08
ANSWER ST Global Markets is operated by ST Global Markets (Mauritius) Limited, a company regulated by the Mauritius Financial Services Commission (Mauritius FSC) with license number GB20025244.However, it is critical to note that the Mauritius FSC doesn't provide authentication details such as phone numbers and email addresses, as well as the domain of the registered entity for investors to verify, leaving a chance for some shady brokers to exploit these details to pretend real and legitimate in an attempt to fool investors. Therefore, there is no guarantee that the Mauritius FSC-registered company is the one that ST Global Markets claims it belongs to. Investors must beware of the risks involved and exercise extreme caution when dealing with ST Global Markets.Regarding your question, you can go to the "Account Types" under the "Trading" section. At the same time, we would recommend contacting customer services through their official website to achieve the most accurate answer. For more details about this broker, please refer to our full review of ST Global Markets.
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Will you recommend Erzinex?
Sumit
Reunion
2023-06-08
ANSWER Erzinex is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Erzinex claims in its "Privacy policy" that it is operated by the company TRD & MNY Company LLC registered in St. Vincent and the Grenadines. While it is true that entries matching this company exist in the register of the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), investors must bear in mind that the SVG FSA has explicitly stated that it doesn't issue forex licenses nor does it regulate entities involved in such activities. Therefore, Erzinex remains unsupervised by the relevant regulatory body. Furthermore, the Belgian Financial Services and Markets Authority (FSMA) has added Erzinex to its warning list as a fraudulent trading platform.Regarding your question, our advice is to avoid Erzinex due to its status as an unlicensed broker. It is a platform coming with huge risks, including financial losses and identity theft, which could be financially and personally devastating. Once your money and personal information held by this broker, there are no rules in place to safeguard them. Therefore, to avoid such risks, investors are encouraged to choose fully regulated brokers.
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What deposit options do they offer?
Joe Anderson
Grenada
2023-06-08
ANSWER Legends FX Markets is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Legends FX Markets claims to be operated by Legends FX Markets LLC, a company registered in Saint Vincent and the Grenadines under company number 248 LLC 2020 since 2020. However, no corresponding records exist in the register of the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). Furthermore, the SVG FSA has explicitly stated that it doesn't issue forex licenses nor does it regulate entities involved in such activities. As such, any financial services or products offered by Legends FX Markets are unregulated.Regarding your question, we suggest you avoid dealing with Legends FX Markets since it is a non-regulated broker. If dealing with an unregulated broker like Legends FX Markets, investors will expose themselves to significant risks such as loss of funds and identity theft, which could be financially and personally devastating. Due to the status of an unlicensed broker, there are no rules in place to protect investors. Therefore, investors are strongly advised to stay away from unlicensed brokers like Legends FX Markets and opt for fully regulated ones instead.
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Is PRIVE FINANCE a good platform?
ude samuel
Italy
2023-06-08
ANSWER PRIVE FINANCE is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.PRIVE FINANCE fails to disclose its regulatory information and licensing data, a clear indicator of a scam. Legitimate brokers always prominently display their accreditation and licenses to instill trust and transparency, whereas the lack of information thereof may suggest that it is an unlicensed broker. Given its claim that it is located in the UK, PRIVE FINANCE is required to seek authorization from the Financial Conduct Authority (FCA) before soliciting investors, but the FCA has added this broker to its warning list for operating without proper authorization. You can access the full warning here.Regarding your question, PRIVE FINANCE is an unlicensed broker carrying a warning from a recognized financial regulator, and we strongly suggest you avoid this broker. It comes with huge risks including loss of funds and identity theft. Once your money and personal information held by this trading platform, there are no safeguards to protect them. Therefore, investors are encouraged to choose a fully regulated one to avoid such risks.
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Is LUXE CAPITAL regulated?
Douglas
Poland
2023-06-08
ANSWER LUXE CAPITAL is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.LUXE CAPITAL fails to disclose its regulatory information and licensing data, a clear indicator of a scam. Legitimate brokers always prominently display their accreditation and licenses to instill trust and transparency, whereas the lack of information thereof may suggest the status as an unlicensed broker. This is a red flag. Furthermore, the Financial Conduct Authority (FCA) has issued a warning against LUXE CAPITAL for offering financial services or products without proper authorization, further proving this broker's illegitimacy.Regarding your question, LUXE CAPITAL is a non-regulated broker with significant risks, including loss of funds and identity theft. Once your money and personal information are held by this trading platform, there are no rules in place to protect them. Therefore, we strongly suggest investors stay away from unlicensed brokers like LUXE CAPITAL and opt for fully regulated ones instead.
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Should I believe in this broker?
Murray Franklin
Romania
2023-06-08
ANSWER The target Growth Investment is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.The target Growth Investment gives a confusing statement on its regulatory status: on the one hand, it displays two different license numbers purportedly issued by the Malta Financial Services Authority (MFSA), and on the other hand it mistakenly claims that the MFSA is in the US. This contradictory situation casts doubts on this broker's authenticity and reliability. This is a red flag. Furthermore, no entries matching target Growth Investment can be found in the MFSA registry, which means this broker is falsely claiming to be regulated to deceive unsuspecting investors.Regarding your question, target Growth Investment is an untrustworthy broker and you are advised against dealing with it. This trading platform comes with significant risks including loss of funds and identity theft, as there are no rules in place to protect investors from fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like target Growth Investment and opt for fully regulated ones instead.
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Is Smart Contract regulated in the UK?
Abu Randawa
United Kingdom
2023-06-07
ANSWER Smart Contract is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Smart Contract, whose website is currently inaccessible, used to claim to be regulated by the National Futures Association (NFA). However, no corresponding records exist in the NFA registry. Therefore, Smart Contract is unsupervised by the relevant regulatory body. Furthermore, this broker's website is down, which is another significant indicator of a scam. A properly functioning website is necessary for a broker to display essential information including licensing data and to facilitate trading. Therefore, the absence of a well-functioning website may suggest potential issues with a broker's reliability and resources. What's more, a lot of fraud cases show that scam brokers typically abscond with investors' funds after shutting down their websites.Regarding your question, Smart Contract is a non-regulated broker with significant risks including loss of funds and identity theft, as there are no rules in place to protect investors from fraud or theft. As such, we strongly suggest investors stay away from unlicensed brokers and choose fully regulated ones instead.
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Will you recommend this broker?
Gabriel Morales Santiago
Jordan
2023-06-07
ANSWER Kingston Trading is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Kingston Trading claims to be an independent broker-dealer and investment advisor headquartered in Hong Kong. Therefore, it is required to be regulated and authorized by the HK Securities and Futures Commission (SFC). However, no corresponding records exist in the HK SFC registry, suggesting Kingston Trading is unsupervised by the relevant regulatory body.Regarding your question, our advice is not to deal with Kingston Trading due to its status as an unlicensed broker. It comes with significant risks including loss of funds and identity theft, as there are no rules in place to protect investors from fraud or theft. To avoid such risks, we suggest investors to choose a fully regulated broker.
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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.