category: Unregulated Brokers

Is Concept4X Scam or Legit Broker?

No, it is not safe to trade with Concept4X as it is not regulated. Concept4X is owned by AllGreen Capital Ltd., which is an offshore company registered in Dominica (Read Dominica registered TradersWay Review).

• Dominica is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Global Clearing Group, TradeToro, and more.

What is Concept4X?

Concept4X claims to be one of the world’s fastest-growing and best Forex trading platforms. With a fast learning curve, user-friendly interface, and excellent customer support, Concept4X offers its traders the best and ultimate online trading experience on the internet. The company was established as a new way for Forex traders to easily invest on a platform that is easy to use and easy to understand. They also develop advanced Forex strategies that guide traders in trading in stock markets.

• The company is located in a known offshore zone, which does not require minimum capital requirements that shows company sustainability, as well as does not regulate Forex businesses yet. Therefore, that means that the company operates on its own risk and management style while the client may face some manipulations or will not be compensated by any international organization in case of insolvency.

• According to the website, the broker has three different offices in three different locations, Wenlock (London), Dominica, and recently Cyprus. They also provide Cyprus contact number. However, there is no information about Concept4X regulation with the Cyprus regulator as well as UK’s FCA. 

• The broker is not regulated and has been misleading its clients with false information. Moreover, the Cyprus Securities and Exchange Commission has included Concept4X in its warning list:

“The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform investors that the following websites do not belong to an entity which has been granted authorization for the provision of investment services and/or the performance of investment activities.”

Concept4X Review Conclusion

We advise all investors and traders to avoid Concept4X and other brokers from Dominica. They do not hold any serious licenses and might often be spam brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM.

Concept4X Update

Recently the Concept4X website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is FxFixed Scam or Legit Broker?

No, it is not safe to trade with FxFixed as it is not regulated. The broker is owned and operated by Unigreen Korlatolt Felelossegu Tarsasag, and located in Budapest, Hungary. However, we didn’t find any mentions about this broker in the register of the Hungarian regulator as well as some other major regulators’ registers. 

• FxFixed does not provide any regulatory information, nor contact details. That’s when it comes to transparency. Regulated companies keep all the information open to their clients as it is required by the law. Obviously, FxFixed has no regulation and no authority to report to.  

What is FxFixed?

FxFixed provides the option to trade 200+ markets including the biggest cryptos. Its clients have an opportunity to trade highly liquid assets with very low spreads and 1:500 leverage (Low Spread Forex Brokers). According to the website, FxFixed guarantees 100% protection and security of funds and investments through professionally managed network data centers with fully redundant server arrays and internet connections, as well as complete transparency. With a lack of a lot of information, it actually seems like the broker is not that reliable and transparent.

• Also, the awards mentioned on the website are fake as there are no such nominations and this broker was never nominated for any Forex award.

• In addition, FxFixed has been blacklisted by the Spanish regulator CNMV:

  “FxFixed is not authorized to provide the investment services, which include investment advice, nor to provide the auxiliary in relation to the financial instruments, including, for those purposes, foreign currency transactions.”

• The pages and official sources of the international regulators' list alert are shared with the authority directly or by other countries' supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As FxFixed got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.

FxFixed Review Conclusion

We advise all investors and traders to avoid FxFixed and other unregulated brokers (Check our Fake Forex Brokers List). The lack of information about the broker’s regulation, trading conditions and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.

FxFixed Update

Recently the FxFixed website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is FINMAX Scam or Legit Broker?

FINMAX is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

• The terms and conditions of the broker state that the company is supervised under the laws of the United Kingdom, but there is no mention of the broker in the regulator's register and FINMAX actually doesn’t have any legal rights to offer its financial services to the UK residents.

What is FINMAX?

FINMAX is a CFDs and binary broker (See the list regulated binary brokers). Its trading platform provides an opportunity to use in trading more than 1000 underlying assets, the list of which is constantly expanding. FINMAX offers assets from groups of financial instruments such as Forex currency pairs, stocks, indices, and commodities. The broker claims to have an amazing team of financial market professionals, however, with all the benefits mentioned on the website, we still have a lot of questions about the company's reliability.

• It is not safe to trade with FINMAX as it is not regulated. This broker is owned and operated by Max Capital Ltd, Svitrigailos, Vilnius with the operational office address in Sofia, Bulgaria. However, we didn't find this company in the register of the Bulgarian Financial Supervision Commission.
• Being located in Bulgaria, FINMAX does not hold any financial license to offer its service across major markets. Apart from the legitimate status, the unauthorized nature of trading inflicts the highest risk to lose funds due to the fact that none of the authorities check on the implemented safety measures and protective tools. Therefore, FINMAX or any other non-regulated broker may use and manage the client’s money in any manner with no imposed consequences.

FINMAX in India

FINMAX allows Indian traders to open accounts and trade. However, FINMAX has no mention of complying with any Indian regulators on its website. Here you can find the Best Forex Trading Platform in India for you. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. 

FINMAX in the USA

The United States is one of the countries that is not accepted by FINMAX. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for FINMAX, you are only permitted to trade with U.S-regulated platforms.

FINMAX Deposits & Withdrawals

The minimum deposit is 250$. The payment options include: credit/debit cards, bank transfer, Yandex money, Qiwi wallet, Webmoney, and Perfect money. 

Trading Apps

FINMAX offers a modern trading platform for your mobile device, we support the following – iOS, Windows Mobile, and Android.

This platform is identical to the terminals that are available for desktop PCs and laptops. However, it is fully adapted to mobile devices which allows you to trade with comfort from any location, wherever you are if your device is connected to the Internet.

Demo Account

The broker does not offer a demo account.

Read about FBS Broker which offers a Demo account.

FINMAX Review Conclusion

Based on our research, even though the trading offering might seem attractive, there are many questions in regard to the trust of the FINMAX company services and the manner they do operate the online trading itself. Of course, an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and TMGM.

Finmax Updates

Based on our findings and research Finmax website is unavailable to reach, so probably Broker no longer operates. Besides, we recommend avoiding Binary Options and offshore brokers. 

Is Videforex Scam or Legit Broker?

Videforex is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

• It is not safe to trade with Videforex, as it is an offshore company. Videforex as the Company is operated by INVOLVA CORP - Nr. 104693, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands. The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CobraCFD, GoldenSkyCapital, and more. 

What is Videforex?

Videforex offers Forex, CFD, and Options trading with more than 100 assets available for trading. The broker guarantees the clients can trade from any device, any time, with the highest level of security, a wide range of funding and withdrawal methods, and 100% secured trading with data protection. However, it seems like the broker is missing the most important, the regulation.

• However, Videforex doesn’t hold any license from a trustworthy and reputable authority. The broker does not provide any trading conditions/details as well as its address. All regulated brokers keep this information transparent for their clients. The lack of these details can indicate that the company is up to something bad. 

Videforex in India

Videforex accepts traders from India. However, Videforex has no mention of complying with any Indian regulators on its website. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

Videforex in the USA

Videforex nor its agents or partners are not registered and do not provide any services on the USA territory. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for Videforex, you are only permitted to trade with the U.S-regulated platforms. 

VideForex Deposit & Withdrawal

The minimum deposit is $250. You can fund your account by credit cards (VISA/MasterCard), Bank wire transfer, Bitcoin, Ethereum, Litecoin, Altcoins, Neteller, Skrill, or Perfect Money. The funds will be available for trading immediately, after confirmation from the payment system.

The minimal amount allowed for withdrawal is $50. Videforex processes all withdrawal requests within 1 hour.

• For security reasons, identification of the person is required for all withdrawals, regardless of the withdrawal amount. For accounts without bonus: trader has to reach a 100% turnover from deposited amount, to claim for withdrawal. For account with bonus: trader has to reach 300% turnover from deposited amount, to claim for deposited amount and profit withdrawal.  

Apps

Videforex CFD and Options offers Android and iPhone based trading platform. It allows to stay connected with the global market and never miss a trading opportunity. The application allows regular CFD and Options trading and direct deposit and withdrawal via APP. It allows for instant execution of trades, shows live charts of every option available on the platform, and enables traders to view their entire trade history. Application is free to download.

Demo Account

To receive demo account access you need to fund your trading account and contact customer support to get demo account credentials. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option.

VideForex Review Conclusion

Overall, there are many questions in regards to the trust of the Videforex company services and the manner they do operate the online trading itself. We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities and comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and Admiral Markets.

Videforex Update

Based on our findings, Videforex website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case any proposals. 

Is MetaFinanceTrade Scam or Legit Broker?

MetaFinanceTrade is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority (See our reviews on Top Regulated Forex Brokers). The broker is suspected of being a fraud company since it was not checked for compliance before establishment, never monitored in terms of its safety, and simply may operate the business in any way it wishes.

What is MetaFinanceTrade?

MetaFinanceTrade offers to trade up to 80 major, minor, and exotic currency pairs with competitive spreads and 0 commission. You can trade as little as 1 share on all share CFDs with no commission. They offer more than 300 popular stocks from the US and the EU. The company also offers a web-based platform with easily customizable watchlists, trading charts, and its own MetaFinanceTrade Trade Assistant.

•  MetaFinanceTrade Ltd claims to be a Luxembourg Investment Firm registered with the Commission de Surveillance du Secteur Financier and under CIF authorization number 357/18. The Company's registered office is at 51 Boulevard Grande-Duchesse Charlotte, 1330 Luxembourg.
• The broker also claims to have offices in the US and Luxembourg. However, this broker is not mentioned in the online registers of the Commission de Surveillance du Secteur Financier (CSSF) and the Cyprus Securities and Exchange Commission (CySEC). The broker is not regulated and has been misleading its clients with false regulatory information.
• In simple words, MetaFinanceTrade is a perfect example of a clone firm. Clone firms use some or all of the details of a genuine entity, aiming to convince investors they are indeed the authorized company or that they work with them. Fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold-called. They may use the name of the genuine firm, the ‘firm reference number’ (FRN) we have given the authorized firm or other details. Such companies should be avoided at all costs.

• Moreover, the Cyprus Securities and Exchange Commission has included MetaFinanceTrade in its warning list:

  “The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform investors that the following websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities.”

• The pages and official sources of the international regulators' list alert are shared with the authority directly or by other countries' supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As MetaFinanceTrade got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by numerous EU authorities.

MetaFinanceTrade in India

MetaFinanceTrade allows Indian traders to open accounts and trade. However, MetaFinanceTrade has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

MetaFinanceTrade in the USA

The United States is one of the countries that is not accepted by MetaFinanceTrade. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for MetaFinanceTrade, you are only permitted to trade with the U.S regulated platforms.

Deposits and Withdrawals

The minimum deposit for all methods of deposits in a trading account with MetaFinanceTrade is Euro 50.

• Deposits by Debit card or Credit card take approximately 3 business days, often less to process into your trading account. As much as MetaFinanceTrade shall ensure immediate action to process and clear deposits by bank wires, these may take approximately up to one 1 business day to receive and process into your trading account.
• MetaFinanceTrade has funding methods for multiple currencies. If you deposit funds in a currency other than the denomination of your trading account, they will automatically convert it to the denominated currency at an exchange rate applicable on the date and time of the transaction. MetaFinanceTrade does not charge any administrative fees for depositing funds.
• The minimum withdrawal amount is EUR 50.00 for all payment methods.

Apps

MetaFinanceTrade provides its traders with a Trade Assistant. It is a unique educational tool designed to help you place your trades. It has been developed with beginners in mind(Best Forex Trading Platforms for Beginners) but can be used by anyone who wants to understand core trading concepts - such as CFDs, leverage, margin, exposure - through short and easy-to-understand explanations, contextual examples, and built-in dynamic calculators.

MetaFinanceTrade Review Conclusion

We advise all investors and traders to avoid MetaFinanceTrade and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.

MetaFinanceTrade Update

Recently the MetaFinanceTrade website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is Capital GMA Scam or Legit Broker?

No, it is not safe to trade with Capital GMA as it is not regulated. Capital GMA is owned and operated by Equalizer LTD. Registered address: 8009 Burgas City, Burgas Region; Burgas Municipality Transportna Str., No. 15, Floor 2, Apt. Office 1. Bulgaria. However, we didn't find this company in the register of the Bulgarian Financial Supervision Commission.

What is Capital GMA?

Capital GMA is a financial services provider, offering a selection of more than 70 financial assets as CFDs to traders from almost all around the globe. The broker claims to give its clients access to the world’s most exciting and volatile exchange market via their desktop, smartphone, or tablet device. Capital GMA also states they help clients make the most out of online trading, access liquidity, and manage risk effectively, their practical expertise, comprehensive technology, and unparalleled network allow them to deliver an unforgettable trading experience. However, it doesn't actually look that promising.

• The company mentions a British contact phone number without having an office there or more importantly, without being regulated in the UK.
• Moreover, Capital GMA has been blacklisted by the Italian regulator CONSOB:

“CONSOB  availed itself of the powers deriving from the “growth decree” regarding the blackout of the sites (including Equalizer Ltd. (website www.capitalgmafx.com) of abusive financial intermediaries, as well as the new power introduced by Law no. 8 of 28 February 2020, regarding the blackout of the site through which the abusive bid is made.”

Capital GMA Review Conclusion

We advise all investors and traders to avoid Capital GMA and other unregulated brokers (See our Fake Forex Brokers List South Africa). The lack of information (or false information) about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Cyprus and reliable brokers such as FP Markets and Alpari.

Capital GMA Update

Recently the Capital GMA website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is Finq Scam or Legit Broker?

Finq is not a secure Forex broker (see the list of Best Forex Brokers) since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and, simply may operate the business in any way it wishes.

• Finq.com is operated by Dilna Investments Ltd which is the primary payment provider and website operator. Dilna Investments Ltd is acting on behalf of its mother company, Leadcapital Corp Ltd is regulated as a Securities Dealer by the Seychelles Financial Services Authority.

The point is that Seychelles offers an easy process of financial or investment firm establishment, through a very low list of requirements, small budgets, and what is more crucial with no strict supervision of the brokers' operation or history. For that reason, offshore zones attract vast non-scrupulous, or shady brokerages such as Hugo’s Way, and Prime XBT that aim to attract clients, grab their funds, and disappear.

What is Finq?

Finq provides trading in CFDs by offering tried and tested reliable platforms for web and mobile with over 2100 assets – stocks, commodities, forex, ETFs, indices, and bonds. According to the website, Finq takes no commission and has multi-lingual client support standing by 24/5 to assist account holders. On Finq, they guarantee some of the lowest spreads (Check out lowest spread forex brokers) in the market and zero commission, whilst offering leverage up to 1:300. 

Among the platforms offered by Finq the WebTrader is one of the most up-to-date popular platforms allowing clients to trade over 2,100 assets backed by 90 edit tools, Trending tools, Analysis Recommendation tools and Events & Trade tool. The MT4 platform is also available to Finq traders.

• However, despite the fact that Finq  atates it is regulated, it is not monitored by any governmental agency, which makes the broker a dangerous place for investing.

Overall Finq Ranking 

With our revelations in regard os Finq security and regulations issues, we do not rank positively Finq, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Finq Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Finq Alternative Brokers

As we have found safety issues with Finq here are much better Alternatives to Finq with tight regulations and great trading conditions. We select Good Brokers and trustworthy options for your comparison below: 

• XM – Best Broker for Low Minimum
• Interactive Brokers – Good for Real Stock trading
• Plus500 – Good for Futures Trading

Finq in India

Finq has no mention of complying with any Indian regulators on its website.  The broker does not own any license issued by the regulatory body in India. Thus, traders' investments may be at risk here.(forex trading brokers in india)

Finq in the USA

The United States is one of the countries that is not accepted by Finq. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Finq, you are only permitted to trade with the U.S regulated platforms.

Finq Deposits & Withdrawals

The minimum deposit in FINQ.com is $/€/£ 100. The broker offers several payment methods: debit/credit cards, bank transfers, Neteller, FasaPay and Skrill. 

Apps

Finq provides its traders with mobile trading through its iOS and Android apps. The traders can trade on the branded Finq WebTrader to access 2,100 assets from the world’s financial markets with free apps for mobile trading. They can view the Traders Trend Bar, see the Trending Now asset list, and use Stop Loss, Take Profit, Entry Limit and Entry Stop as they trade.

• Most importantly, the broker's technical team constantly updates its app to give traders the best solution for trading anytime anywhere, so they never have to miss an opportunity to trade.

Demo Account

Finq offers a demo account so you can try the Finq platform with virtual trading before you put down a payment. This FREE demo account comes loaded with $10,000 of virtual money. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option. Also check info on FBS Broker Demo account.

Finq Review Conclusion

In any case, we never advise trading with a non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple: the broker may promise the most competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus signing with such a broker means risking your money. 

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or Australian Forex Brokers and reliable brokers such as AvaTrade and XM.

• Overall ranking and experience for Finq is Negative

Is SmartFX Scam or Legit broker?

SmartFX is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

• SmartFX is owned and operated by Smart Securities and Commodities Limited. We are Regulated by Vanuatu Financial Services Commission (VFSC) and Authorized to deal with securities by providing all kinds of financial services to our clients. Registration number - 40491 with a registered address at Office 1276, 1st-floor Govant building, Kumul highway, Port Vila, Vanuatu. 
• Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial established capital which is $2,000 only, pay a fee, and within 2-3 months, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as JustProForex, 70Trades, and more.

What is SmartFX?

SmartFX is an international online Forex and CFDs trading firm offering 24 hours access to a diverse range of trading products including fares, currency pairs, commodities, futures, indices, and stocks. Through SmartFX and the renowned MetaTrader 5 trading platform clients can take advantage of high liquidity, low spreads (Find out more on Low Spread Forex Brokers), mobile trading, technical analysis, and even more. The broker claims to maintain high standards to keep trading environments secure and offer the best tailor-made trading conditions for every client.

Overall SmartFX Ranking 

Based on the revelations of our research there are multiple issues in respect of SmartFX  regulation and reliability, we do not rank positively SmartFX , based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• SmartFX Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

SmartFx Alternative Brokers

Considering the SmartFX safety issues we found during our research, we suggest much better Alternatives to SmartFX with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

• BlackBull Markets – Best for Copy Traders
• XM – Broeker with Low Minimum Deposit
• Interactive Brokers – Good for Stock Trading

SmartFX in India

SmartFX does not offer financial services to the residents of India. 

SmartFX in the USA

SmartFX does not offer financial services to the residents of the USA. The United States is one of the countries that is not accepted by SmartFX. As per U.S. law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for SmartFX, you are only permitted to trade with U.S-regulated platforms.

Deposits & Withdrawals

SmartFX offers a big variety of deposit methods. 1) Electronic Payment Methods (Skrill, Neteller, STICPAY); 2) Bank Wire Transfers (National Bank of Vanuatu and Local bank in Dubai); 3) Credit/ Debit cards (Visa, MasterCard, American Express). 

• The minimum withdrawal is 100 USD for Electronic Payment Methods, Credit/Debit cards, and Bank Wires as well.
• With SmartFX you can withdraw your funds anytime. Simply log in to your Client Portal and place your withdrawal request. It is only possible to send your withdrawal back to the original source of the deposit. Usually, all withdrawal requests are processed within 24 hours on business days. To deposit or withdraw the funds, your account must be Verified.
• SmartFX does not charge any additional fees for deposits. You should however be aware that you may incur fees on payments to some international banking institutions. SmartFX accepts no responsibility for any such deposit fees.

Apps

SmartFX provides its traders with the opportunity to trade via the MT5 mobile platform (See other MT5 Brokers too). Ideal for traders on the go, MT5 mobile brings new order types and detailed market-depth information straight to the mobile device. It is available for iOS and Android users. 

Demo Account

The broker also offers a demo account. A demo Account is created for you to practice your skills without any risks. You trade oe virtual money, which you can't withdraw. A Live Account is created to get you to trade with real money and your profits/losses are for real. SmartFX's Demo Account doesn't have an expiry. You can practice your skills for the period you need to get familiar with a terminal and trading until you are ready to trade on a Live Account.

SmartFX Review Conclusion

We advise all investors and traders to avoid SmartFX and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM.

• Overall ranking and experience for SmartFX is Negative

Is AAG Markets Legit or a Scam?

It is not safe to trade with AAG Markets as it is an offshore broker. AAG Markets is a trademark of AAG Ltd., registered and located in St. Vincent and the Grenadines.

• The fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company operation. That means, the broker is not regulated, not overseen, and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, PrimeXBT, and more. Read more about St. Vincent and the Grenadines regulation by the link.

What is AAG Markets?

AAG Markets is a market leading trading platform, offering leveraged trading on digital as well as traditional assets. The company was founded in 2019 and has spent a long time acquiring the trust of its clients and partners. We currently serve clients in more than 75 countries by providing access to some of the world’s most lucrative trading markets.

• AAG Markets offers an intuitive trading system for both first time traders as well as professional traders that demand accurate market data and order performance.

AAG Markets in India

AAG Markets allows Indian traders to open accounts and trade. However, AAG Markets has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

AAG Markets in the USA

The United States is one of the countries that is not accepted by AAG Markets. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for AAG Markets, you are only permitted to trade with the U.S regulated platforms.

Deposits & Withdrawals

AAG Markets offers three account types: classic, platinum and VIP.

Minimum funding and the minimum deposit on the platform is for the Classic account and is rather high - USD 10,000, USD 200,000 for Platinum and USD 1,000,000 for the VIP one. 

Apps

TraderGO is an award-winning trading platform. Supports one-screen setup (chart can be dragged to the second screen). Access through both mobile and desktop. Traders can access stocks, mutual funds, ETFs, bonds, forex, CFDs, futures, commodities, forex options, listed options, trading strategies and managed portfolios.This platform is enhanced trade tickets, fundamental and technical analysis tools, extensive charting package, options chain, performance analysis and comprehensive account overview.

TraderPRO is a fully customisable, professional-grade platform that offers a fully customisable across six screens, with advanced workspace management and multi-channel linking between modules. Access on PC and MAC. The key features of the platform are ​​algorithmic orders, one-click trading, options chains and charting packages. Analyse your performance in detail with our revamped account section.

Demo Account

Demo account is not available.

AAG Markets Review Conclusion

We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

AAG Markets Update

Based on our findings, the AAG Markets website is no longer active. This means the broker has muted its trading offerings and does not operate, however, we recommend avoiding and staying alert in case of any proposals.