Dear investors,
We do not recommend using Bein Markets for trading as it exhibits the typical characteristics of a fraudulent broker.
Bein Markets claims to be the authorised representative of Royal ETP LLC, which is subject to supervision and licensing by the Australian Securities & Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Vanuatu Financial Services Commission (VFSC). However, we searched the official databases of these three regulators and found no results relating to the principle company, let alone any verification of the status of its so-called authorised representative. The regulatory information claimed by Bein Markets is likely forged to mislead investors into trading on its platform.
Furthermore, the only information available is that the aforementioned company is registered with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. However, this registration only represents the registration of International Business Company (IBC) status and is not equivalent to a trading licence. The SVG FSA has publicly announced that it neither regulates forex nor grants licences.
Therefore, it is highly likely that Bein Markets is a fraudulent broker. We strongly recommend that you avoid investing with this suspicious company.
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