Reason to avoid: Offshore license
Listed Date: September 10, 2018
Top 3 Regulated Forex Brokers
- Company name: BECFD Limited
- Registration/license: Marshall Islands
- Registration/license requirement: USD 2,000
BECFD is a Forex and CFD broker, owned and operated by a BECFD Limited. The company is registered in the Marshall Islands, an offshore zone when brokers are usually not regulated, nor supervised. The website doesn’t provide much information about the broker, only two contact phone numbers: British and Austrian. It means that BECFD has been trying to offer their services in these countries, it also means they were trying to do that without being regulated nor authorized. Moreover, Austria’s FMA has recently issued a warning against this firm. We keep reminding traders that dealing with offshore brokers is quite risky as clients have no protection of their funds. Instead, we recommend choosing among brokers licensed by FCA in the UK or CySEC in Cyprus.