Forex Steady is an UNREGULATED broker and should be avoided at all events. There are several severe red flags on Forex Steady's website. To start with, this broker presents zero details about its company information (office address, phone number, email, etc.) as well as necessary trading documents (i.e. terms and conditions, privacy policy, risk disclosure, etc.). Lacking for such vital information is already a huge red flag for potential traders.
Besides, Forex Steady claims to be a globally recognized retail and institutional economic company that provides professional financial services concerning forex. However, it turned out to be a new platform without reputation, as the domain of this broker was just created a few months ago in August.
According to the information presented on its MT5 software, this broker is operated by FOREX STEADY GLOBAL LIMITED, a UK-based company registered with Companies House. However, it doesn't mean the authorization of the Financial Conduct Authority (FCA), the regulator that approves licenses for the brokers in UK. The truth is, we didn't find any information about its regulation from FCA. So currently Forex Steady is actually not regulated by any financial regulator.
As per the evidences above, our final conclusion is that Forex Steady 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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