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Where is Hast Forex actually based? Is it from Japan or what?
Hasan Shand
United Arab Emirates
May 20, 2026
ANSWER Dear Investor, Hast Forex has not provided any verifiable proof of regulation, and its claimed locations raise significant concerns. Hast Forex appears to be registered in Saint Vincent and the Grenadines and also lists a physical address in Japan. However, the Financial Services Agency (FSA) of Japan has no record of any entity associated with Hast Forex. Furthermore, while the Financial Services Authority (FSA) of Saint Vincent and the Grenadines previously registered the company HAST Financial Group Ltd, the current registration status is marked as cancelled. Given these serious discrepancies, we highly doubt the compliance and legitimacy of this broker. We strongly recommend that you avoid engaging in any transactions with this platform to protect your funds.
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I remember dealing with Nash Markets. Have they disappeared?
Brian Nurmohamed
Bangladesh
May 10, 2026
ANSWER Dear Investor, According to our previous investigation, Nash Markets merely claims to be registered with the Marshall Islands Registry (IRI) and has not provided any other proof of regulation. Although we were able to locate Nash Markets LLC within the IRI system, the registration status is explicitly listed as Annulled. Even if the registration were still valid, the Marshall Islands IRI only grants International Business Company (IBC) certification; it does not regulate forex trading activities nor issue financial licenses. Therefore, such registration status does not indicate that Nash Markets is operating in compliance with financial regulations. Furthermore, the Nash Markets website is currently inaccessible, which strongly suggests that the platform has ceased operations or potentially absconded. Consequently, if anyone contacts you under the name of Nash Markets, please do not trust them. We strongly advise you to avoid providing any personal information or engaging in any transactions with them.
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Does Bithoven have a fixed 5% stop-loss on their accounts?
Tatyana sayyaleh
Indonesia
Mar 31, 2026
ANSWER Dear Investor, Bithoven is an unreliable and risky broker due to its lack of valid regulatory credentials. Bithoven claims to be a trading name of Fortis Ltd., which is authorized and regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. While we did find Fortis Ltd. in the FSA registry, its status is listed as cancelled. Furthermore, even if the registration were active, it would only grant International Business Company (IBC) status, which does not constitute a valid financial license. The SVG FSA has publicly stated that it does not regulate or license forex trading activities. Therefore, Bithoven is unregulated, and its claims of being regulated are false and misleading. We strongly advise avoiding any trading activities with this broker.
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Where is FxPlayer's company?
Elohor Neofytou
Czech Republic
Feb 27, 2026
ANSWER Dear Investor, FxPlayer is not a reliable platform, and we strongly advise against considering it as your broker. The platform fails to disclose any valid regulatory information, claiming only to be registered as FxPlayer Ltd in the Marshall Islands. While our search confirms that this entity was previously listed in the Marshall Islands Registry (IRI), its current status is marked as "Annulled," indicating significant issues with its legal standing or operational continuity. Even if the registration were still active, it is crucial to understand that the Marshall Islands IRI is neither a government agency nor a financial regulator; it does not oversee or license forex trading activities. Such registration merely grants an International Business Company (IBC) status, which offers no investor protection or regulatory oversight. Given these findings, FxPlayer poses substantial risks. We urgently recommend that you avoid any transactions with this platform to protect your funds.
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SpartanForex, is this website legit?
Guy Ferri-Ricchi
France
Jan 28, 2026
ANSWER Dear Investor, SpartanForex appears to be a suspicious and likely unregulated platform, and we strongly advise you to avoid it. The website provides no regulatory disclosures or trading license information. In our past reviews, SpartanForex claimed to operate as a trading name of Spartan Capital Markets Limited, registered in Saint Vincent and the Grenadines. However, we’ve now found that this registration with the Financial Services Authority (FSA) of SVG has been cancelled, raising serious doubts about the company’s legitimacy, and suggesting it may be changing its registration status to avoid scrutiny. Given the lack of valid regulation, SpartanForex shows clear signs of being a fraudulent or high-risk operation. We strongly recommend that you do not deposit funds or trade with this platform.
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FX SmartBull promised that withdrawal only takes 1-2 days
Ferdinand Feubodei
Spain
Jan 23, 2026
ANSWER Dear Investor, FX SmartBull remains operational, but our review raises serious concerns about its regulatory standing and investor protections. According to its website, the platform only displays a registration certificate issued by Saint Lucia, a jurisdiction that does not regulate or license forex brokers. More troublingly, FX SmartBull previously claimed authorization from the St. Vincent and the Grenadines Financial Services Authority (SVG FSA), but this registration has since been marked as “cancelled” in the official registry. This cancellation suggests potential compliance failures or operational irregularities, further undermining the platform’s credibility. With no valid license from any reputable financial regulator, FX SmartBull offers no meaningful legal safeguards for client funds. Engaging with such a platform carries a high risk of capital loss. Therefore, we advise extreme caution and avoiding any engagement with such a broker. If you are already a client and are experiencing withdrawal difficulties or other issues, we strongly encourage you to save all relevant evidence and file a formal complaint on our official website here, where our team will carefully review your case and provide guidance or explore potential solutions.
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Please check ADN BROKER's regulation
Claudia Mavrikis
Cambodia
Dec 24, 2025
ANSWER Dear Investor, ADN BROKER previously claimed to be registered in Saint Vincent and the Grenadines under the Financial Services Authority (FSA). However, our latest verification shows that this registration has now been officially cancelled by the FSA, meaning the firm no longer holds any legal standing in that jurisdiction. More recently, ADN BROKER has begun claiming a presence in Peru. Yet, it is important to note that Peru does not currently have a regulatory authority that licenses or supervises retail forex trading activities. Furthermore, ADN BROKER provides no clear information about holding any valid financial license, neither from Peru nor from any other internationally recognized regulator. Given these findings, we consider that ADN BROKER is likely operating without any legitimate supervision. This raises serious concerns about its legitimacy and increases the risk of fraudulent activity. We therefore strongly advise investors to avoid ADN BROKER entirely.
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Is Star Net FX reliable ???
Ana Carolina Bogdanov
Italy
Dec 10, 2025
ANSWER Dear Investor, Star Net FX is not reliable. It claims that STAR NET Limited is registered in Mauritius, the UAE, and Saint Vincent & the Grenadines, and is registered by the Financial Services Commission (FSC). However, this statement is vague and misleading. Our investigation found no record of STAR NET Limited in the official registers of either the Financial Services Commission (FSC) of Mauritius or the Securities and Commodities Authority (SCA) of the UAE. Furthermore, a search of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines revealed that while the entity may have been previously registered there, its status is now listed as “cancelled”, which means that it is no longer legally active in that jurisdiction. Despite this, the Star Net FX website remains live and continues to solicit investors, which is a serious red flag. We therefore strongly advise you to avoid Star Net FX entirely and remain highly vigilant against similar unregulated platforms.
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What's the commission fee with EXCO?
Prem Cronin
Oman
Dec 05, 2025
ANSWER Dear Investor, We do not recommend trading with EXCO, as there are serious concerns regarding its operational status. EXCO claims to operate under RSG Finance LLC, which is registered with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. While we can confirm that a matching company exists in the SVG FSA registry, its registration status is now shown as 'cancelled'. Even if it were currently active, this would only grant it International Business Company (IBC) status. This does not constitute a valid financial licence. The SVG FSA has clearly stated that it does not regulate or licence forex brokers. Therefore, EXCO is effectively unlicensed by any recognised financial authority. This is a major red flag indicating fraudulent activity. We therefore strongly advise you to avoid trading with EXCO in order to protect your funds.
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Anyone traded with VTR Trade? How is it?
Mayila IGWEDIBIA
Malaysia
Dec 05, 2025
ANSWER Dear Investor, VTR Trade claims to be incorporated in Saint Vincent and the Grenadines and to maintain an office in the United Arab Emirates (UAE). However, our investigation raises serious concerns about its legitimacy. First, we searched the register of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines for VTR Trade Limited and found that its registration status is listed as “cancelled.” This indicates the company is no longer in good standing and may not be legally authorized to operate, raising immediate red flags about its current business status. Second, we checked the databases of the UAE’s primary financial regulators—the Securities and Commodities Authority (SCA) and the Central Bank of the UAE (CBUAE)—and found no record of VTR Trade or any affiliated entity. This confirms that the platform holds no valid license to operate as a broker in the UAE. We therefore strongly advise you not to invest with VTR Trade, as your funds would be at significant risk with no regulatory recourse.
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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.