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 20 Mar, 2023 to 24 Mar, 2023, 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

● EagleFX - an offshore limited carrying a warning by the OSC;

● Gloffix - a dishonest broker warned by the FCA and the CNMV;

● CapproFX - an untrustworthy entity without any valid forex or financial licenses;

● Webull - a Malaysia SC-warned US broker not supervised by NFA;

● CryptoFxExperts - a fraudulent trading platform with FCA warning;

● FT Markets - an unlicensed broker presenting zero details on its regulatory status;

● PaxForex - a fraudulent brokerage firm under zero regulations;

● TriumphFX - a Ponzi scheme people should stay away;

● Forex4money - an offshore entity without oversights from financial regulatory bodies;

● Forex Optimum - an offshore broker might be ceased operations;

● Cabana Capitals - a CNMV-warned trading platform registered in offshore center;

● VenusFX - a supposedly London-based broker listed by FCA as an unauthorized firm;

● 24xforex - a scam broker with its domain for sale and warned by various authorities;

● Eagle Markets - a scammer with unavailable website and a FCA warning.

Other Asked Brokers

Other brokers asked this week include GULF Brokers, Eurotrader, IGM FX, Guotai Junan International, and XTrend Speed. Even though the above brokers do have authorizations and regulations, they just have relatively fewer risks than those without valid regulations. Regarding broker XTrend Speed, we would like to remind you of the fact that it is an FSCA-regulated broker without authentication details and domains provided by its regulator for investors to verify. Please be aware of the risks involved and to invest with caution.

We now have more than 3000 reviews of brokers for you. You can check all reviews here.

Questions of The Week

In addition to the most frequently asked question - "if a broker is licensed/regulated/safe or not," matters of interest to our users this week are details about trading details, including account types, withdrawal details, fees charging, and funding details.

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.