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Does anyone know about Freserves? Is it safe?
Chandra Polaggari
Mexico
Jul 27, 2022
ANSWER Freserves is not a licensed or regulated broker even though it states offers that look good to be true. Freserves claims to be headquartered in the United Kingdom, however, we did not find any match results to Freserves in the registry of the UK regulator Financial Conduct Authority (FCA).More importantly, both the Cyprus Securities and Exchange Commission (CySEC) and FCA issued warnings against Freserves for being a broker to provide financial services and products without authorization and regulation. You can check full warnings from CySEC and FCA.The truth is, Freserves is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Freserves and trade with licensed brokers.
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I want to know the regulation of Freserves. Please check.
Mollliiiiiiiieeeee
Philippines
Nov 20, 2021
ANSWER Freserves is NOT a legitimate broker and should be avoided at all events. Freserves claims to be headquartered in the UK, however, it is currently not regulated or overseen by any regulator when we checked on the UK's Financial Conduct Authority (FCA). That means investors' funds in this broker is unsafe and cannot be protected by any laws. What's worse, the Cyprus regulator CySEC and the UK's regulator FCA have successively added Freserves to the blacklist to warn the public that this firm has cloned the information of regulated entities. You can check full alert or warning from CySEC and FCA on Freserves respectively. As per the evidences above, our final conclusion is that Freserves is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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