Austria’s FMA adds forex broker TradeInvest90 to warning list
Austria’s financial markets and services regulator FMA has warned that the brokerage TradeInvest90 is not authorized to provide financial services that require a license in Austria.
The Austrian Financial Market Authority (FMA) is an independent, autonomous and integrated authority for the Austrian financial market. The Austrian FMA is responsible for: contributing to the stability of Austria as a financial market; reinforcing confidence in the ability of the Austrian financial market to function; protecting investors, creditors and consumers.
According to the website, TradeInvest90 is an online trading provider that offers over 1,000 financial assets traded in CFDs and FX. Tradeinvest90 is owned and operated by Celestial Trading Ltd. licensed and regulated by the Montenegro security exchange commission. However, the company is not actually regulated by any of the authorities and is not entitled to operate in Europe or on any other regulated market. Also, turned out that Celestial Trading Ltd. is registered offshore, in Seychelles. Those brokers registered offshore are not considered as reliable ones, because they are basically are not overseen by any authority.
In addition, Celestial Trading Ltd. has been blacklisted many times by different regulators on behalf of some unreliable brokers we have previously reviewed: Tradovest, XMarkets, Option888.
Investing with a properly regulated broker is crucial for the safety of any investment. Here are some reliable regulators: UK’s FCA, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). These are well-respected institutions, also enforce strict regulatory standards upon all brokers in their jurisdictions. You can read our review on this broker here.