Reason to avoid: No license
Listed Date: October 29, 2018
Top 3 Regulated Forex Brokers
Beware Britonprice is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: SOLUTIONS CM
- Registration/license: None
- Registration/license requirement: –
Britonprice is a Forex and CFDs broker operated by SOLUTIONS CM, based in Sofia, Bulgaria. Despite its location, the broker doesn’t provide any information about the regulation/license and we can also confirm that neither Britonprice nor Solutions CM are regulated in Bulgaria by Financial Supervision Commission. One more confusing thing is the payment requisites of the Russian bank in the Russian language provided on the website. Also, the only contact number on the website is British, when the broker is definitely not authorized in the UK by FCA. Moreover, Spain’s regulator CNMV has issued a warning against Britonprice in April 2018:
” SOLUTIONS CM/www.britonprice.com is not authorized to provide the investment services detailed in Article 140 of the Securities Markets Law, which includes investment advice, or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the said Law, including, for those purposes, foreign currency transactions.”
We recommend you to avoid not licensed brokers and choose among the regulated ones. The most reliable regulators are the UK’s FCA, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). These regulators require a certain amount of capital from the brokers to guarantee the compensation of funds and a certain level of safety of clients’ money. Here you can check the list of the ASIC-regulated brokers.