ANSWER FidelityCFD is not a good choice for investors because it is a scam broker.FidelityCFD's regulatory status is not true. It says it has been a forex broker since 2015, but its domain "fidelitycfd.com" was first registered in June 2023. It also claims to be the trading name of Top Markets Ltd, a company supposedly registered with the Hong Kong Securities and Exchange Commission. But there is no such authority in Hong Kong and what this broker actually needs is a license from Hong Kong Securities and Futures Commission (SFC). However, we couldn't find any records matching Top Markets Ltd on the SFC register.Moreover, FidelityCFD is allegedly domiciled in the UK. However, the UK Financial Conduct Authority (FCA) has added it to its warning list for providing financial services or products in this jurisdiction without the required authorization. You can refer to here for the full FCA warning.BrokersView strongly suggests investors steer clear of FidelityCFD. It poses significant risks, such as fraud and identity theft. No rules are in place to safeguard the interests of its clients and ensure that it follows the regulatory standards. Once any violation occurs, traders engaging with the platform may not be able to retrieve their funds or get compensation from any official body. To avoid this disaster, it is advisable to choose a fully regulated broker instead.
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