List of brokers to avoid as a newbie;
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Author Topic: List of brokers to avoid as a newbie;  (Read 20407 times)

Offline Eliza Abrams

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Re: List of brokers to avoid as a newbie;
« Reply #45 on: May 08, 2018, 12:24:14 PM »
The financial regulator in Belize, the International Financial Services Commission (IFSC) has issued a warning against "Binary options & Fofex Inc."

 The company has intentionally misspelled the word “forex” instead of coming up with an original name, I don't know whether that's sad or funny or somehow both at the same time. The things scammers do to appear legitimate are sometimes exceedingly weird.

Offline Eliza Abrams

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Re: List of brokers to avoid as a newbie;
« Reply #46 on: May 16, 2018, 02:02:45 PM »
The UK financial watchdog, FCA, added two binary options brokers to its warning list: Stratx Markets and OptionStarsGlobal.   According to the regulator, they have been providing financial services or products in the UK without FCA’s authorisation, which is required by law.

Both companies are registered in offshore zones - in the Samoa Islands and the Marshall Islands.  Stratx Markets even promises  investment returns as high as 88%. I don't need to tell you that such profits are nigh-impossible for binary options trading.

Offline Eliza Abrams

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Re: List of brokers to avoid as a newbie;
« Reply #47 on: May 23, 2018, 12:49:27 PM »
The Financial Conduct Authority (FCA) just added several unregulated binary options brokers to its warning list. According to the UK’s financial watchdog, Rbinary, BigOption and VIP Brokers have been providing financial services or products in the UK without its authorisation.

Rbinary does not mention the company that owns it, but claims it's registered on the Marshall Islands. It doesn't fail to mention, however, the large financial returns their services provide.

VIP Brokers is in the same boat - claims it's registered on the Marshall Islands, has several account types with promised returns from 81% to 92% (!!!!).
 
Nothing is known about BigOption.

Offline Eliza Abrams

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Re: List of brokers to avoid as a newbie;
« Reply #48 on: May 31, 2018, 02:12:07 PM »
Spain's financial markets regulator, CNMV, has warned of forex broker InvestMib earlier this week. According CNMV’s official notice, this entity is not registered in the corresponding registry of the commission and, therefore, are not authorized to provide investment services.

The broker in question is, completely unsurprisingly, registered in Vanuatu, where it takes just $2000 initial investment to register a Forex broker.

 

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