Aglo Trade is not a licensed or regulated broker even though it states offers that look good to be true.
Aglo Trade claims to be a licensed broker under multiple regulations, including:
1) Cyprus Securities and Exchange Commission (CySEC), No. 901/58;
2) the Dubai Financial Services Authority (DFSA);
3) Belize Financial Services Commission (Belize FSC);
4) the United Kingdom Financial Conduct Authority (FCA);
5) Australian Securities & Investment Commission (ASIC);
6) the Financial Services Conduct Authority (FSCA) of South Africa.
However, we did find any information that can prove the accreditations or licenses of this company on the above forex regulators' registries. That means the broker is not authorized by them to provide financial services.
Moreover, CySEC issued a warning that Aglo Trade did not belong to an entity that has been granted authorization for the provision of investment services. You can check the full warning from here.
The truth is, Aglo Trade 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 Aglo Trade and trade with licensed brokers.
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