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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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Anyone knows MogaFX's new website?
Marc Woodward
Egypt
Dec 01, 2025
ANSWER Dear Investor, We have serious concerns that MogaFX may have ceased operation. The platform previously claimed to be authorized by the Australian Securities & Investments Commission (ASIC). However, our verification shows that its ASIC license is now listed as cancelled. Additionally, its registrations with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines and the Financial Markets Authority (FMA) of New Zealand are also marked as cancelled or revoked, strongly indicating that the company has likely ceased legitimate operations. These repeated cancellations across multiple jurisdictions suggest that MogaFX is no longer authorized to provide financial services and may in fact be defunct or engaged in fraudulent activity. If you receive any communication from individuals claiming to represent MogaFX, do not engage or share personal or financial information. We urge you to report such contact immediately to your local financial regulator or law enforcement authorities.
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Can we trade with Impulse World Broker?
GEORGE Mvulana
Greece
Nov 17, 2025
ANSWER Dear Investor, Impulse World Broker is an untrustworthy platform that operates without authorization from any recognized financial regulator. Its website provides no verifiable details about regulatory oversight and only mentions that its operating entity, IMPULSE WORLD CORPORATION S.A.C., is registered in Peru. However, it is important to note that Peru does not currently have a regulatory body authorized to supervise forex trading activities. As a result, investors exposed to substantial financial and legal risks. In addition, the platform also claims to be registered in Saint Vincent and the Grenadines under the name WORLD TRADERS LTD. Yet, our check of the Financial Services Authority (FSA) registry shows that this registration is now marked as “cancelled”, indicating serious compliance or operational issues. Operating without legitimate regulatory supervision significantly increases the risk of fraudulent practices. Therefore, we strongly advise against any engagement with Impulse World Broker and recommend that you refrain from conducting any transactions through this platform.
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8xTrade is a fraudulent broker, do not trust anything their agents say.
Sashi
India
Nov 04, 2025
ANSWER Dear Investor, 8xTrade is a fraudulent broker. It does not display any legitimate regulatory information and merely claims that its operating company, Digital Smart LLC, is registered in Saint Vincent and the Grenadines. However, a search in the official registry of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines shows that the company’s registration status is listed as “Discontinued.” Moreover, even if active, such a registration would not constitute a license to provide forex or investment services, as the FSA in Saint Vincent and the Grenadines does not issue regulatory authorizations for trading activities. In reality, 8xTrade holds no authorization from any recognized financial regulator. We strongly advise against investing with this platform. If you suspect you have already been defrauded, we recommend that you immediately report the incident to your local authorities. Please gather all relevant evidence, including transaction records, chat logs, emails, and screenshots. Additionally, you may file a formal complaint through our official website here, where our team will carefully review your case and provide guidance or explore potential solutions.
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I am unable to open Cryptomargen's website is this a common issue?
Cocima006
Bolivia
Oct 07, 2025
ANSWER Dear Investor, Based on our previous investigation into CRYPTOMARGEN, we found that it is not authorized or regulated by any legitimate financial regulatory authority and holds no valid license for forex trading. The platform claimed only to be registered with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. However, this registration merely granted it International Business Company (IBC) status, which does not confer any regulatory oversight or authorization to conduct financial or forex trading activities. Notably, the SVG FSA has publicly stated that it does not regulate or license such services. More concerning, we have now confirmed that its registration with the SVG FSA has been officially cancelled. Combined with the fact that its website is no longer accessible, these developments strongly suggest that CRYPTOMARGEN was likely an unregulated or fraudulent broker and has now either ceased operations or disappeared with client funds. We strongly advise all users to avoid any further engagement with this entity. If you believe you have been defrauded by CRYPTOMARGEN, we urge you to report the incident to your local law enforcement or financial regulatory authorities as soon as possible.
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Divitum Trade is definitely a fraudster!
Mike N
Ireland
Sep 30, 2025
ANSWER Dear Investor, Divitum Trade claims to operate through InnovateCorp Ltd, a company said to be registered in the Marshall Islands and operating under its legal jurisdiction. However, upon checking the official registry maintained by The Marshall Islands Registry (IRI), we found that while InnovateCorp Ltd was indeed previously registered, its current status is listed as "Annulled." This is a serious red flag, indicating that the company is no longer in good standing. Furthermore, it is important to note that The Marshall Islands IRI is not a government agency nor a financial regulator. It does not oversee or regulate financial services such as foreign exchange trading. Therefore, registration with IRI does not equate to regulatory supervision or licensing. Based on this information, Divitum Trade appears to operate without proper authorization from any legitimate financial regulator. Engaging with such an entity poses a significant risk to your funds. We therefore strongly advise against investing with Divitum Trade.
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What payment method does Blue Dragon support?
allan Elia
Greece
Sep 24, 2025
ANSWER Dear Investor, We do not recommend using Blue Dragon as it does not hold a valid financial licence. It claims to operate under Blue Dragon 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 listed as 'cancelled'. This indicates that the company may not be allowed to operate within this jurisdiction. Furthermore, SVG FSA registration itself only grants 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 license forex brokers. In essence, Blue Dragon LLC is not licensed by any recognised financial authority. Despite its registration being revoked, it is still operating as a forex broker. This is a major red flag indicating fraudulent activity. We therefore strongly advise you to avoid trading with Blue Dragon in order to protect your funds.
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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.

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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.