Reason to avoid: No License. Negative Reputation
Listed Date: November 16, 2018
Top 3 Regulated Forex Brokers
Beware 2dots is a Non-Licensed Broker. It is NOT SAFE to trade.
- Company name:
BT Ventures Ltd. 2dots
- Registration Address/ License:
Incorporated in Estonia, Located in Bulgaria. No License, No Regulation.
2dots is a trading name used by the incorporated Estonian company that claims their location of the office in Bulgaria. 2dots offers online trading providing on over 1,000 financial assets traded in CFDs and FX, through an innovative approach to trading and unique alternative. Moreover, the broker states their cutting-edge security systems and utmost protection of the clients at every stage.
However, we would barely believe into that description, as the fact is that the 2dots and its owning company is not registered and regulated by any serious entity. First of all, important to mention, that both countries Bulgaria and Estonia being a part of the EU require registration and particular license in order to be a legitimate financial service provider. Since the company does not hold any, the only conclusion is that the broker does not care about their clients and having a purpose only to attract traders funds.
Actually, that suspicious guessing was confirmed by the numerous complaints from the traders that sadly faced typical scam behavior. The withdrawals were limited or due to some circumstances not provided, manipulation of the price feeds, as well as on trading accounts.
Our recommendation to any trader, especially beginning ones is to choose the broker carefully and in order not to fall under the frauds trade only with regulated entities and trading providers. As the licensed company constantly supervised and monitored by the authority, therefore risks of frauds are minimized. Along to that, the trader’s account established under the compensation funds, means will get a compensation in case of the company insolvency.