Q&A Weekly Review - What's Asked This Week?

A Q&A Weekly Review keeps traders informed of the latest regulatory status and trading details of brokers mentioned by our users in a given week.

Here, BrokersView gives a summing up of "Q&A" this week - from 24 Oct, 2022 to 28 Oct, 2022, listing the asked brokers by categorizing them into scammers and regulated ones to visually tell traders whether a broker is subject to necessary rules and principles, and summarizes the most concerning issues related to brokers on the ground of our users' questions.

Brokers Asked in This Week

Scam Brokers You Should Stay away from

● CrudeXcoins - an unlicensed broker falsely claims its regulations by FINMA and is blacklisted by FINMA;

● NvestPro - an offshore scam running the business under no valid regulation and alerted by the Austrian FMA and German BaFin;

● CheckerBits Investment - an unregulated entity engaging falsely claims its regulations by multiple authorities, including ASIC, FSCA, and FCA;

● FXCess - a Bermuda company offering financial derivatives without valid regulation by the Bermuda BMA;

● IGI Markets - a Switzerland-based brand involving financial derivatives service without authorizations and flagged by FINMA;

● Morning Sky Trade - a scam firm unlawfully providing services of financial derivatives;

● Valuta Markets - a Marshall Islands-based brand carrying a warning issued by the France AMF for providing financial services without authorization;

● Zfxtrade.com - an illegal limited carrying two warnings issued by the UK FCA and Seychelles FSA;

● FPbulls - a non-supervised firm in New Zealand operating its financial service under no valid regulation and warned by NZ FMA;

● DeliTraders - a fraudulent forex trading platform blacklisted by the Italy CONSOB;

● Askyolo - an unlicensed Hong Kong company with no authorization from HK SFC.

Questions of The Week

Except for the most frequently asked question - "if a broker is licensed/regulated/safe or not," matters of interest to our users this week include brokers' other details, such as minimum deposit, regional registration, details on currency pairs, spread, office address and charging fees.

Conclusion

If you are about to invest in forex trading yet not sure about brokers' qualifications, or if you would like to get more information about forex brokers, please do not hesitate to "Ask A Question" in our Q&A section.