TRADINGBROKER FX is an unregulated broker which has been warned by the Financial Conduct Authority (FCA) for targeting British citizens without the required authorization.
It is crucial to bear in mind that a forex broker in the US is required to be a member of the National Futures Association (NFA) before it is qualified to be regulated by the Commodity Futures Trading Commission (CFTC) and the NFA. However, although TRADINGBROKER FX claims to be registered in the US, data from the NFA suggest that it is not an NFA member and hence the investment services/products it offers in this region are not supervised. This is a red flag.
TRADINGBROKER FX also claims to have an address in the UK. However, it doesn't comply with UK law, as the FCA has issued a warning against TRADINGBROKER FX for illegally providing financial services/products in the country without their authorization.
In conclusion, TRADINGBROKER FX is an unregulated broker, with significant risks such as financial losses and identity theft. There are no rules in place to protect investors dealing with TRADINGBROKER FX from fraud or theft. Therefore, to avoid such risks, we strongly suggest investors steer clear of unregulated brokers like TRADINGBROKER FX and instead choose a fully regulated one.
