category: Unregulated Brokers

Is Dominion Markets Scam or Legit Broker?

No, Dominion Markets cannot be considered a trustworthy broker due to its lack of serious regulation. Dominion Markets LLC is a limited liability company incorporated and registered under the laws of Comoros Union, with company number HY00723020. However, the regulatory oversight and protection offered by the jurisdiction are limited.

• Dominion Markets, like many other offshore or unregulated brokers, presents quite attractive offers and trading conditions. However, it lacks proper regulatory oversight, making investments with it potentially risky. To steer clear of financial scams and avoid unpleasant surprises, it is always advisable to choose a regulated broker with top-tier regulations and a strong reputation in the market.

What is Dominion Markets?

Dominion Markets is an internet-based ECN Forex broker. The broker was founded by a team of professional traders in 2020. It boasts of its favorable offerings, such as low spreads, flexible leverage, low forex commissions, segregated clients' accounts, etc. 

Upon further research, we assess the reliability and trustworthiness of the broker by analyzing it from various critical aspects. Here is what we discovered:

• Lack of regulation: This is one of the critical aspects of Forex trading. The lack of proper regulation is a red flag that traders need to take seriously. Licenses from top-tier and respected authorities provide an essential guarantee that your investments are secure, and trading won't result in significant financial losses. In the case of unregulated or offshore brokers, such guarantees are absent. Regarding Dominion Markets, the broker does not hold a substantial license. Instead, it is incorporated and registered under the laws of the Comoros Union, with company number HY00723020.
• Withdrawal issues: Withdrawal issues are quite common for unregulated or offshore brokers. This is serious, as withdrawal problems mean the inability to withdraw your investments and profits. The broker seems to have issues in this respect, which means to be very cautious while signing with the broker. 
• Traders' feedback: Considering feedback from real traders is essential. Clients share their own experiences with different brokers, enabling others to avoid the same mistakes. In fact, many traders have issued warnings about Dominion Markets, sharing their negative experiences with the broker, particularly regarding aspects such as withdrawals and customer support.

Overall Dominion Markets Ranking

After conducting extensive research, we have uncovered substantial concerns regarding the reliability of Dominion Markets and its compliance with regulatory standards. Therefore, we are unable to provide a favorable ranking for Dominion Markets.

• Dominion Markets Overall Ranking is 3 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.

Dominion Markets Alternative Brokers

Considering the concerns surrounding Dominion Markets' reliability and security, we highly recommend traders to explore alternative options that provide more stringent regulations and enhanced trading conditions. Below is a list of reputable brokers offering trustworthy choices and a secure trading environment for your consideration:

• Eightcap– Competitive Trading Conditions
• FXGT– Low Pricing
• CMC Markets – Wide Range of Trading Instruments

Deposits and Withdrawals

With Dominion Markets crypto is the main option for deposits. It offers a wide range of crypto options such as BTC, ETH, LTC, DASH, BCH, XMR, NEO, XRP, and ADA. Also, clients can deposit funds using a credit or debit card through a third-party payment processor. Dominion Markets minimum deposit using Crypto Payments is $50. The minimum deposit for other payment methods is $100.

• There is a  same-day Crypto withdrawal for all clients. The withdrawal request will be fulfilled within 24 hours of submission, and the funds will then be sent directly to the client's Crypto wallet. 
• The minimum amount for withdrawals is $50. It is possible to cancel a withdrawal request while it is still pending, by contacting the broker's Support Team.
• We strongly recommend exercising extra caution, as many clients share their negative experiences regarding the withdrawal process with Dominion Markets. 

Account Types

Dominion Markets Login to account offers several account types: ECN, Standard STP, ECN Plus, and Islamic. Each account offers different features and conditions that will suit traders with different trading expectations.

• ECN account is designed for professional traders, with tight spreads and deep liquidity.
• On the other hand, Standard STP account is suitable for beginner traders, who are looking for simple and direct market access with no commissions along with DOminion Markets leverage offers highest rates, which is typical practice of unregulated and offshore brokers. 

Dominion Markets Review Conclusion

Based on the information we have compiled regarding Dominion Markets Forex Trading, there are notable concerns regarding the broker's reliability and trustworthiness. While the broker offers attractive features and services, its registration in an offshore jurisdiction is a significant ground for concerns. Besides, there are many negative reviews from clients that shouldn't be overlooked.

This is why we recommend choosing a reliable broker that holds licenses from reputable authorities like FCA, ASIC, or CySEC. There are many regulated brokers that are both reliable and have exceptional offerings. Some of them are but not limited to BlackBull Markets, HFM, and Eightcap.

• Overall ranking and experience for Dominion Markets is Negative

Is Aron Groups Scam or Legit Broker?

No, Aron Groups cannot be considered a trustworthy broker due to its absence of a top-tier license from a prominent regulatory body. The firm operates under Aron Markets LTD and is registered in the Marshall Islands. However, the jurisdiction does not provide a high level of regulatory oversight and protection.

• Brokers operating under the Marshall Islands often offer favorable trading conditions; yet, they lack strict regulatory oversight and protection. This is the reason why brokers under this jurisdiction often turn out to be involved in financial frauds or scams. Only top-tier regulatory authorities, such as ASIC, CySEC, and FCA, provide a high level of protection and stringent guidelines to follow.

What is Aron Groups?

Aron Group presents a diverse range of trading assets and instruments, including over 100 forex currency pairs, CFDs, precious metals like gold and silver, commodities such as oil, indices, stocks, BTC, and various other cryptocurrencies. The broker also gives access to trading strategies such as Copy and Social trading. 

 With flexible spreads, substantial leverage of up to 1:1000, and a minimum deposit requirement of just $1 Aron Groups seems like a good broker for investment. However, upon closer research, we were able to reveal certain issues that should be considered:

• Lack of serious registration: Aron Groups is registered in the Republic of the Marshall Islands, under license number 118046. It is a well-established fact that the Marshall Islands, being an offshore jurisdiction, lacks adequate oversight and regulatory guidelines. Consequently, Aron Groups and other brokers registered in this jurisdiction (1PrimeOptions is another offshore broker with a license from the Marshall Islands)  may not be the optimal choice for financial investments. 
• Negative Reviews: When choosing a broker for investments, traders are always recommended to consider feedback and reviews from other traders. Reviews on Aron Trade are not always positive. Nevertheless, the broker is relatively new and it is understandable that it does not have a great amount of feedback yet. 
• Withdrawal issues:  One of the main issues traders warn is problems with the withdrawal process. There are reported cases when clients were unable to withdraw their investments and profits. 
• Summing up the negative points, we strongly recommend traders engage only with reliable and fully licensed brokers, with good standing in the market and favorable features.

Overall Aron Groups Ranking

After thorough research, we revealed significant concerns regarding Aron Groups reliability and its adherence to regulatory norms. Consequently, we cannot assign a favorable ranking to Aron Groups.

• Aron Groups Overall Ranking is 3 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.

Aron Groups Alternative Brokers

Based on the concerns regarding Aron Groups reliability and security, we strongly advise traders to explore alternative options that offer stricter regulations and improved trading conditions. Below, is a list of reputable brokers that offer trustworthy choices and a secure trading environment for consideration:

• EXT – Competitive Trading Conditions
• AximTrade – Low Pricing
• CMC Markets – Wide Range of Trading Instruments

Deposits and Withdrawals

Aron Groups offers a variety of funding methods, including Bank transfers, Mastercard, PerfectMoney, WebMoney, TopChange, Payeer, PayPal, etc. Traders can make deposits via  Tether, Bitcoin, ETH, Bitcoin cash, LiteCoin, Ripple, Dogecoin, Zcash, Dash, Binance USD, USD coin, DAI, PAX, TrueUSD, and more.

• With the broker, the minimum deposit varies based on the funding method. For instance, for bank transfers, the minimum deposit is $100, whereas, for cryptocurrencies, it starts from $10. 
• Withdrawal amounts for different methods are different, too. Withdrawal through bank transfer is allowed from 100 to 2,000 U.S Dollars.
• Remember that a seamless withdrawal process is an important part of forex trading. Offshore brokers are often not very reliable in this respect. 

Account Types

Aron Groups offers different trading accounts that meet different trading needs: Nano ( Islamic Account ), Standard (ECN), Swap Free (ECN), and Vip (ECN). Each account type is tailored for special trading expectations.

• Nano accounts are for clients with low budgets. The minimum deposit for Nano accounts is $1.
• Standard and Swap accounts are more suitable for professional traders, offering leverage of 1:500, tight spreads, and deposits starting from $50.
• The VIP (ECN) account is well-suited for traders who plan to hold their positions longer. It offers a low-margin call level and the potential for higher profitability.

Aron Groups Review Conclusion

Considering the information we have gathered regarding Aron Groups, there are significant reservations about the broker's reliability and trustworthiness. Although the broker has quite attractive features and offerings, its registration in an offshore jurisdiction (The Marshall Islands) raises substantial doubts. Signing with an offshore broker might risk traders' investments and profits.

This is the reason why we recommend signing with a trustworthy broker that holds licenses from reputable authorities such as FCA, ASIC, or CySEC. Some of the great options clients can consider while choosing a broker are but are not limited to BlackBull Markets, HFM, and Eightcap.

• Overall ranking and experience for Aron Groups is Negative

Is 1PrimeOptions Scam or Legit Broker?

No, 1PrimeOptions is not a safe broker as it lacks a reputable license from a leading regulatory authority. The company conducts its operations under Global Options LTD and is registered in the Marshall Islands, a jurisdiction often associated with questionable practices.

Is TNFX Scam or Legit Broker?

No, TNFX is not a reliable choice, mostly due to the lack of proper licenses. The broker lacks top-tier licenses that ensure the financial safety and security of a trader's investments. Instead, TNFX is only authorized and regulated by the Financial Services Authority (FSA) in Seychelles, known offshore zone. 

• While engaging in Forex trading it is essential to understand that safety is one of the most important aspects. Neglecting its significance could result in making precarious decisions. Opting for top-tier licenses like FCA, CySEC, and ASIC is highly advisable, as they come with stringent regulations and robust oversight, effectively minimizing various forms of risk. On the contrary, offshore regulatory authorities like the Financial Services Authority, often lack to provide adequate guidelines and oversight. 
• Read more about offshore Brokers here

What is TNFX?

Founded in 2019, TNFX claiims to be an ECN firm that offers access to trading various financial instruments such as currencies, stock indices, stocks, and commodities in the form of CFDs. The broker provides access to trade over 50 currency pairs, offering leverage of up to 1:400. In terms of software, they offer the market-popular MetaTrader trading platforms, which include support for Trading Central charts and AutoChartist. TNFX also offers very low spreads, starting from 0 pips. 

To learn more about the broker we conducted deeper research and revealed important facts about it to be considered:

• The first thing while analyzing a broker, we look into its licenses and registration. In fact, TNFX is authorized and regulated by the Seychelles Financial Services Authority (FSA) under license number SD133. The registered address is CT House, Office 9A, Providence, Mahe, Seychelles. Seychelles is recognized as an offshore jurisdiction, and it lacks stringent regulations that would guarantee the safety of traders' investments. For added safety, we consistently recommend opting for a broker that is thoroughly regulated. FCA, ASIC, and CySEC-regulated brokers give this sense of security and safe grounds to conduct profitable trades. Find out what makes a great Forex Broker. 
• TNFX has some really interesting offerings and features that attract traders, such as very low spreads, high leverage opportunities, a large assortment of trading accounts, and client-oriented platforms. This led us to go through the real trader reviews and check for clients' feedback. We revealed that most of the reviews are on the negative side, complaining of the insufficient withdrawal process, and other issues. Therefore, our recommendation is to exercise greater caution and not to be easily attracted by favorable offerings. 
• Deposits and withdrawals are one of the most important aspects of trading. TNFX provides a variety of choices for funding accounts and withdrawing profits. However, it's worth noting that there have been numerous reviews, particularly regarding withdrawal issues. We strongly advise traders to be aware and consider the possible risks in case of engaging with the broker.

Overall TNFX Ranking

With our decade of experience in the Forex trading industry, our research has unearthed substantial concerns regarding TNFX's reliability and its compliance with regulatory standards. Consequently, we are unable to provide a favorable rating for TNFX.

• TNFX Overall Ranking is 3 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.

TNFX Alternative Brokers

In light of safety concerns related to TNFX, we strongly recommend exploring alternative options that prioritize strict regulations and enhanced trading conditions. Below is a list of reputable brokers that provide great trading features and a secure trading environment for your consideration:

• OANDA– Good Market Instruments 
• Plus500– Low Spreads and Competitive Trading Conditions
• Pepperstone– The best selection of Educational Resources

Deposits and Withdrawals

TNFX offers a variety of funding methods, including Bank transfers, Mastercard, PerfectMoney, Webmoney, Payeer, and many other options. Besides, it does not charge any fees for depositing or withdrawing funds.

• For deposits and withdrawals, the estimated timeframe is 24 hours.
• All withdrawals and deposits are made in US dollars. To withdraw money clients need to submit a Withdrawal form. 
• Yet, we always recommend being very careful when it comes to withdrawals, as offshore brokers often have a track record of falling short in this regard.

Account Types

Opening a live account with TNFX is a quick and straightforward process. The broker offers multiple account types: Standard, Fix Account, VIP account, Zero Account, and Cent Account. Each of the account types has its unique features, offering clients different opportunities based on their trading expectations. Also, different account types come with different benefits, as for the Standard Account contains a 20% deposit bonus, and also a $100 birthday bonus. 

• All the account types enable access to Automated trading. 
• For Cent accounts the minimum deposit is $100, while for Zero accounts it is $ 1,000.

TNFX Review Conclusion

Based on the information we have gathered regarding TNFX, significant questions arise concerning the broker's trustworthiness and credibility. Although it offers quite enticing features and services, the fact that Broker is registered only in Seychelles - an offshore jurisdiction, raises substantial doubts.

We urge traders to give serious consideration to selecting a broker that holds licenses from esteemed regulatory bodies such as FCA, ASIC, or CySEC. A multitude of regulated brokers, such as  FP Markets, eToro, and Admiral Markets, excel in providing outstanding services and favorable trading conditions, all while adhering to top-tier regulations, thereby guaranteeing a secure trading environment. 

• Overall ranking and experience for TNFX is Negative

Is TD365 Scam or Legit Broker?

No, we can not consider TD365 as a fully secure broker due to the absence of a trustworthy license from a reputable regulatory authority. The broker does not hold a top-tier license from one of the leading financial authorities, such as FCA, ASIC, or CySEC. It is only regulated by the Securities Commission of the Bahamas, SIA-F216.

• Research showed that TD365 cooperates with the broker Trade Nation under the Bahamas entity. Trade Nation is a reputable broker, holding multiple top-tier licenses and enjoying a strong reputation within the market. Therefore, if you are considering choosing a trustworthy broker, we recommend considering Trade Nation as your preferred choice, as it provides access to advantageous offerings and favorable trading conditions.
• Regulatory oversight is a crucial factor in determining the trustworthiness of a broker. A reputable regulatory authority helps ensure that the broker complies with industry standards and follows proper financial practices, which can help protect your investments. Read about Brokers for Investment here. 

What is TD365?

On its website, TD365 mentions a range of opportunities that come with trading with the broker. The broker mentions that it enables its clients to trade the most popular markets with low spreads on its CloudTrade platform. In addition, TD365 offers traders negative balance protection, high leverage of 200:1, a single currency Trading Account, and other benefits.

Nevertheless, after conducting thorough research, we have uncovered important information that should be taken into account before making an informed decision about registering with the broker.

• In fact, TD365 is licensed by the Securities Commission of the Bahamas, which in itself is an offshore zone. However, the broker on some level cooperates with a regulated broker Trade Nation under the Baham entity, a factor that enhances the broker's reputation positively.
• While some of TD365 offerings appear favorable, it's worth noting that the broker's website lacks sufficient educational resources. Traders may need to take the initiative to explore alternative information sources to acquire the necessary skills and knowledge. The sole form of assistance the broker provides is the availability of a demo account and a video guide to the platform. 
• When researching a broker, obtaining genuine client feedback is a crucial step. In our investigation of the broker, we discovered that the reviews are varied, but it's noteworthy that positive reviews seem to be more prevalent.
• At last, considering the information we've gathered, it's important for traders to understand that opting for an unregulated or offshore broker can pose risks to their investments. In the market, there are numerous brokers that are tightly regulated, adhering to strict regulatory standards and inspiring a high degree of trust.

Overall TD365 Ranking

Drawing on a decade of experience in the Forex trading industry, our research has brought to light significant concerns regarding TD365 reliability and its commitment to regulatory standards. As a result, we cannot provide a positive rating for TD365.

• TD365 Overall Ranking is 3 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.

TD365 Alternative Brokers

Due to the safety concerns associated with TD365, we strongly advise traders to consider exploring alternative options that offer stringent regulations and improved trading conditions. Here is a list of reputable brokers that provide reliable choices and a secure trading environment for consideration:

• BlackBull Markets – Good Market Instruments 
• HYCM– Low Spreads and Competitive Trading Conditions
• FBS– The best selection of Educational Resources

Deposits and Withdrawals

Transferring funds to the trading account is a quick and straightforward process. To get started, traders need to log in to their accounts, navigate to the Payments menu, and click on "Deposit Funds." There is the option to deposit funds via bank transfer, credit card, or debit card.

• TD365 does not impose a minimum deposit requirement. Traders can decide on the trading amount that suits their individual financial circumstances.
• Yet, we always advise being careful with offshore brokers, as it is a well-known fact that withdrawal processes might become serious issues and even lead to substantial financial loss.

Trading Platforms

According to the broker's website, the CloudTrade Platform, offers fixed bid-ask prices regardless of market volatility, along with some of the industry's lowest spreads. The platform enables instant execution and traders have the flexibility to specify the stake size in their local currency or the chosen base currency.

• TD365 also provides the industry-renowned MT4 platform, offering tight variable spreads for traders on the MetaTrader 4 trading platform.

TD365 Review Conclusion

Based on the information we've gathered about TD365, there are notable concerns about the broker's reliability. While the broker offers quite attractive features, its registration in an offshore jurisdiction, posses inherent risk and raises doubts, in that word we surely belive it is much better to choose Broker with good regulations rather than signing into risky activity Broker, as trading has enough risks itself.

We highly recommend seeking out a broker that holds licenses from respected authorities such as FCA, ASIC, or CySEC. There are many regulated brokers with great offerings and conditions, also aligned with top-tier regulations, which are considered a safe choice to trade, including FP Markets, HFM, or FXGT.

• Overall ranking and experience for TD365 is Negative

Is Evest Scam or Legit Broker?

Evest does not hold any top-tier license from world-known authorities, that is why it is considered Not Safe to trade with Evest. The broker is registered in Vanuatu (an offshore zone) with the registration number 17910. It is a well-known fact that offshore brokers are not overly secure and signing with them might lead to financial losses.

• In fact, the primary role of the VFSC is to oversee the registration process, which is remarkably straightforward and characterized by minimal setup requirements. This simplicity in the registration process, coupled with low associated costs and rapid establishment, makes Vanuatu an attractive destination for numerous brokerage firms seeking registration.

What is Evest?

With Evest clients gain access to trading Forex, Commodities, Indices, Shares, and Crypto via MT5 and Evest trader platforms. As for the benefits of Evest, there are no commissions for some instruments. Furthermore, the broker provides access to a Trading Academy, a valuable resource, especially for novice traders. Additionally, they offer a demo account and a comprehensive market analysis.

Nevertheless, there are significant factors regarding Evest that need careful consideration before selecting it for trading purposes:

• Evest is owned and operated by AtriaFinancial LTD. The company has a Vanuatu registration. According to the website, the broker maintains offices in Vanuatu, the UK, and Cyprus. However, their primary regulatory authorization is granted by the VFSC (Vanuatu Financial Services Commission). As a result, no other regulatory bodies such as the FCA (Financial Conduct Authority), ASIC (Australian Securities and Investments Commission), or CySEC (Cyprus Securities and Exchange Commission) have granted a license to this broker.
• As per the company's policy, they do not impose any commissions. However, it's important to note that they have other fees, including a $5 processor fee, a 2% conversion fee, and a $75 inactivity fee applied after 2 months.
• When we looked deeper, searching for reviews and feedback from real traders, we found numerous traders have expressed dissatisfaction with Evest customer service and encountered withdrawal problems. Thus, we recommend finding a reliable Investment broker, with good standing in the market and positive feedback from clients. 

Overall Evest Ranking

Drawing upon a decade of experience in the Forex trading industry, our research has uncovered significant concerns regarding Evest's reliability and its adherence to regulatory standards. As a result, we are unable to give a favorable ranking to Evest.

• Evest Overall Ranking is 3 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.

Evest Alternative Brokers

Due to the safety-related issues associated with Evest, we strongly advise considering alternative options that prioritize stringent regulations and improved trading conditions. Here is a list of reputable brokers that offer reliable choices and a secure trading environment for your consideration:

• FXTM – Good Market Instruments 
• HYCM– Low Spreads and Competitive Trading Conditions
• Trading 212– The best selection of Educational Resources

Deposits and Withdrawals

Evest enables deposits through a variety of methods; Wire Transfer, Credit/Debit Card, Maestro, Visa Electron, Skrill, and Neteller. The minimum deposit with the broker is $250. 

• The withdrawal process may require up to 14 days for completion. To be able to withdraw money, the client's account should be verified. The minimum withdrawal amount is $25. There is also a $5 withdrawal fee. 
• Considering the feedback and reviews from clients, it appears that there could be issues with the withdrawal process. Therefore, we strongly advise not to overlook this crucial aspect.

Account Types

The broker provides four primary account types: Silver, Gold, Platinum, and Diamond. Each of these Evest account types comes with its unique features and specifications. The Silver account, for instance, requires a minimum deposit of $250, and it offers daily market summary and analysis. Gold accounts, on the other hand, necessitate a minimum deposit starting at $5,000.

Meanwhile, Platinium and Diamond accounts have more substantial investment requirements, but they offer enhanced trading privileges, including access to a Senior account manager, the Trading Central platform, exemption from withdrawal fees, and a range of other benefits.

Evest Review Conclusion

Taking into account the information we have compiled about Evest, there are notable concerns regarding the broker's trustworthiness and credibility. Despite the enticing features and services it provides, the fact that it is registered in an offshore jurisdiction (Vanuatu) gives rise to considerable doubts, thus traders should exercise caution and better avoid Evest Broker for your trading activity.

We strongly advise you to consider choosing a broker that is licensed by reputable authorities like FCA, ASIC, or CySEC Brokers. Numerous regulated brokers offer excellent services and favorable trading conditions while adhering to top-tier regulations, ensuring a safe trading environment. Some examples include HFM, OANDA, and BlackBull Markets.

• Overall ranking and experience for Evest is Negative

Is IQCent Scam or Legit Broker?

No, IQCent cannot be considered a secure broker as it lacks a trustworthy license from a reputable regulatory authority. It is only registered in the Marshall Islands, which is categorized as an offshore jurisdiction with inadequate safety measures and regulatory standards (Wave Makers LTD - Nr. 103581, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960).

• Forex industry in the Marshall Islands lacks strong regulatory oversight. Although brokers based there offer various financial services, their regulatory supervision does not meet the stringent standards set by top-tier authorities such as the CySEC or FCA.

What is IQCent?

IQCent is a recently established binary broker, founded by a team of experts in 2017 and commencing online trading operations in 2023. The company is headquartered in Majuro, Marshall Islands. Using their proprietary in-house trading platform, the broker provides trading services for forex, CFDs, cryptocurrencies, and binary options. They offer customers a selection of three distinct account types to choose from. The IQCent customer support team is available round the clock, 24/7. IQcent does not provide MetaTrader platforms. The broker enables traders access to CopyTrading. 

Based on our research we found the following information traders should know before signing with the broker:

• While looking into IQCent, we found important information about the broker's regulation. The first thing traders need to check about a broker is the existence of a tight regulation. However, this is not the case with IQCent, as it is an offshore broker with a license from the Marshall Islands. 
• Some of the IQCent's offerings seem to be pretty favorable, however, its website does not offer sufficient educational resources, and traders should proactively seek alternative information sources to acquire the required skills and knowledge. The only form of assistance offered by the broker is the provision of a demo account.
• Client reviews are also essential to consider before making a choice to sign in with a broker. We revealed that IQCent has mixed reviews. While certain reviews are notably positive, highlighting the benefits of trading with the broker, there are also numerous negative ones that emphasize issues like inadequate customer support and problematic withdrawal procedures, among other concerns.
• Finally, taking into account the gathered facts, traders should recognize that selecting an unregulated or offshore broker can potentially jeopardize their investments. There are numerous tightly regulated brokers in the market that adhere to rigorous regulatory standards and inspire a high level of trust.

Overall IQCent Ranking

Based on a decade of experience in the Forex trading industry, our research has revealed substantial issues regarding the reliability and adherence to regulatory standards by IQCent. Consequently, we cannot give a positive ranking to IQCent.

• IQCent Overall Ranking is 3 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.

IQCent Alternative Brokers

Because of the safety concerns linked to IQCent, we highly recommend exploring alternative options that offer tight regulations and enhanced trading conditions. Below is a list of reputable brokers that provide reliable choices and a secure trading environment for your consideration:

• GO Markets – Good Market Instruments 
• HYCM– Low Spreads and Competitive Trading Conditions
• XM– The best selection of Educational Resources

Deposits and Withdrawals

With IQCent the client is required to deposit funds into their trading account within a period of 90 calendar days starting from the date of its opening. The available minimum deposit is $50.

• In the event of funding through Visa/Mastercard, withdrawals can be processed either through a bank transfer which will be sent to the client through mail upon order.
• The company retains the authority to decline a withdrawal request if there is a clear intention to transfer customer funds from one payment system to another.

Account Types

IQCent offers several account types to cater to different trading preferences and experience levels: Bronze, Silver, Gold, and VIP accounts. The features and conditions vary between different account types. The minimum deposit for Bronze accounts is $50, for Silver accounts, it is $1,000, for Gold accounts, it's $5,000, and for VIP accounts, the minimum deposit is $50,000.

There are other differences, too, such as:

• Withdrawal time, for instance, for VIP accounts the withdrawal is instant, while for Bronze accounts it might take up to 8 hours. 
• Besides, Gold and VIP accounts also offer personal assistance, while for Bronze and Silver accounts the service is not available. 

IQCent Review Conclusion

Considering the information we have gathered regarding IQCent, there are significant apprehensions regarding the broker's reliability and credibility. Despite the broker's appealing features and offerings, the fact that it is registered in an offshore jurisdiction (Marshall Islands) raises substantial doubts, and traders should exercise caution.

We highly recommend seeking out a broker that holds licenses from respected authorities such as FCA, ASIC, or CySEC. There are many regulated brokers with great offerings and conditions, also alighed with top-tier regulations which is considered safe choice to trade, these including FP Markets, HFM, or FXGT. 

• Overall ranking and experience for IQCent is Negative

Is HankoTrade Scam or Legit Broker?

No, it is not safe to sign in with HankoTrade. The broker is registered with the Financial Services Authority of Seychelles (FSA). It is a known fact that Seychelles is an offshore zone, thus it does not provide sufficient protection and does not oversee the financial companies registered under it. 

• The oversight of HankoTrade is lacking rigorous monitoring by reputable regulatory bodies, which means that the broker does not adhere to any specific guidelines or rules and has more freedom to conduct its business as it sees fit. 

What is HankoTrade?

Hankotrade distinguishes itself as an ECN (Electronic Communication Network) broker, emphasizing its commitment to providing exceptional trading conditions (tight spreads,  no commission, etc.) coupled with some of the most competitive commissions within the industry. As an ECN broker, Hankotrade promptly transmits client orders directly to liquidity providers.

However, we conducted detailed research on the broker and were able to make revelations that will help traders have more insight into the broker before making a decision to sign with it.

Here are the main points to consider:

• Lack of serious Regulation: In Forex trading safety is the most important aspect to consider. The first thing traders should pay attention to is the tight regulation of the chosen broker. Only top-tier licenses give the necessary amount of protection and almost exclude financial scams and risky transactions. Top-tier regulations, such as FCA, ASIC, or CySEC provide compensation schemes, guaranteed stop loss, etc. Offshore brokers such as HankoTrade, on the contrary, lack in terms of stability and reliability and often can run financial scams. 
• Reviews from real traders: Not to be misled by the tempting offerings and services brokers promise to their clients, it is advisable to look for reviews from real traders and learn about their experience. This is what we did in the first place, and the reviews we found about HankoTrade were not at all promising. Mostly, clients state that all the promises the broker mentioned, turned out to be from the fantasy genre. 
• Issues with the withdrawal process: The safety of funds is another aspect to consider properly. With HankoTrade the previous track record in respect of withdrawals is not quite promising. Many offshore brokers lack in this respect, and the client can never be sure whether it will be possible to get back the invested money and the profits. As a common practice, scam brokers ask for more investment in order to enable withdrawal, pressuring clients psychologically to risk even more funds. 

Overall HankoTrade Ranking

Based on our extensive experience of over a decade in Forex trading, our research has uncovered concerns related to the reliability and regulatory compliance of HankoTrade. Consequently, we are unable to rank HankoTrade positively.

• HankoTrade Overall Ranking is 3 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.

HankoTrade Alternative Brokers

Based on the safety concerns associated with HankoTrade, we strongly advise considering better alternatives with stringent regulations and better trading conditions. Below, we present a list of reputable brokers with reliable options and safe conditions for your comparison:

• FxPro – Good Instruments and CopyTrading
• FXTM – Low Spreads and Competitive Trading Conditions
• Tickmill – The best selection of Educational Resources

Deposits and Withdrawals

HankoTrade sets a minimum deposit requirement of $10 for STP accounts and $100 for ECN accounts. If you're interested in an ECN Plus account, the minimum deposit is $1000. HankoTrade does not impose any fees on deposits or withdrawals for its clients.

• Hankotrade ensures on its website that all withdrawals are processed within a business day on weekdays. Typically, Hankotrade processes withdrawals using the same payment method employed for making deposits.
• However, based on the information we found on the broker's withdrawal process, our recommendation is to be very careful and make only an informed decision before making any investments with HankoTrade.

Account Types

HankoTrade provides three main account types: the STP account, the ECN account, and the ECN Plus account. Additionally, an Islamic account is also available. To gain comprehensive information about each of these account types, you can visit the 'Account Types' section on the broker's website. HankoTrade enables its clients to run both live and Demo accounts at the same time by simply installing the MT4 platform for each of HankoTrade's forex trading accounts.

• Hankotrade provides swap-free accounts designed to operate in compliance with Shariah law, catering to the needs of its Muslim clients.

HankoTrade Review Conclusion

Based on the information we have gathered about HankoTrade, it raises concerns about the broker's reliability and trustworthiness. While the broker's features and offerings may seem appealing, the fact that it is registered in an offshore zone (Seychelles) is a significant red flag that traders should carefully consider. Additionally, negative trader feedback and reviews further contribute to our reservations about signing up with this broker.

Our recommendation is to find a broker with a license from reputable authorities, such as FCA, ASIC, or CySEC. Some notable options to consider among reliable brokers with good standing include but are not limited to Go Markets, BlackBull Markets, and FP Markets.

• Overall ranking and experience for HankoTrade is Negative

Is Quotex Scam or Legit Broker?

No, it is not safe to start trading with Quotex, there is high risk Quotex is scam or not safe enough Broker to invest with. The entity responsible for the Quotex website, Maxbit LLC, is officially registered in St. Vincent and the Grenadines, which is considered an offshore jurisdiction known for its lenient tax regulations and almost no regulations towards Forex brokers. 

• The oversight of Quotex lacks rigorous monitoring by reputable regulatory bodies. Consequently, the broker does not follow any special guidelines and rules and might operate its business however it chooses. Offshore brokers such as Quotex, Coinexx, T4Trade , etc. are unreliable and might be financial scams, or Brokers that traders will never know what to expect.

What is Quotex?

Quotex, founded in 2019, is a brokerage firm that specializes in the field of binary options trading. The firm offers its clients the opportunity to engage in trading activities involving currencies, metals, oil, cryptocurrencies, and stock indices. The broker provides favorable conditions for its clients, offering a low minimum deposit ($10), a variety of available currencies (USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND), a Demo account and 24/7 customer support. 

The broker seems to be gaining more clients daily and earning a significant volume of interest. However, upon detailed research, we were able to reveal a number of red flags that make us see Quotex in a different light.

Here are the main points we would like clients to consider before signing with the broker:

• Lack of regulation: When choosing a broker the first thing traders should do is check whether the broker is regulated or not. In fact, this is not something to overlook, as regulation and proper license from a respected authority means the reliability of the broker. When it comes to Quotex, the entity operating the Quotex website is Maxbit LLC, which is registered in St. Vincent and the Grenadines, known as an offshore jurisdiction. This means, that while trading with Quotex customers can't have the reassurance and safety that their funds are fully protected, or there is any regulatory body that may assist in case of any fraudulent activity, alike FCA does. 
• False popularity: The broker seems to be quite popular among clients. Yet, it seems like the broker is working on its popularity and collecting positive reviews and feedback. However, along with positive and praising reviews, there are still many negative reviews that actually state the opposite, pointing at the unfavorable conditions of the broker and the inappropriate withdrawal process.
• Withdrawal problems: Although the broker positions itself in a positive light, we were still able to find feedback indicating its inadequate withdrawal process. Clients complain that the broker offers to make even more investments to be able to process withdrawals, which is the practise only scam Brokers would do, none of the serious companies can tell trader to invest more, and as a result traders lose even more money. 
• Binary Options - a highly risky form of trading: Binary options trading has gained both popularity and controversy. Many argue that binary options offer a straightforward way for traders to profit from market movements, while critics highlight the high risk and potential for investor losses. Due to concerns about investor protection, regulatory authorities in various countries (UK and US, for instance) have imposed restrictions or outright bans on binary options trading.

Overall Quotex Ranking

Drawing upon our Expert Opinion, substantiated by over a decade of hands-on experience in Forex Trading, we have revealed noteworthy concerns regarding Quotex's regulatory framework and overall reliability. Consequently, we find ourselves unable to give a positive ranking to Quotex.

• Quotex Overall Ranking is 3 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.

Quotex Alternative Brokers

In light of the substantial safety concerns associated with Quotex, we strongly advise exploring better alternatives that prioritize stringent regulations and offer good trading conditions. Below, we present a list of reputable brokers with reliable options and safe conditions for your comparison:

• Pepperstone– Good Instruments and CopyTrading
• FP Markets – Low Spreads and Competitive Trading Conditions
• HFM – The best selection of Educational Resources

Deposits and Withdrawals

With Quotex traders can fund their accounts through a range of methods, including credit cards, e-wallets, and cryptocurrencies. The minimum deposit is $10, with no additional fees applied for deposit transactions. 

• The process of withdrawing funds is quite straightforward and can be executed within the personal account. The same method utilized for depositing funds into the trader's account can also be employed for initiating withdrawals.
• Typically, the withdrawal process spans 1-5 days from the moment the Client's corresponding request is received.
• For the majority of payment systems, the minimum withdrawal threshold starts at $10. However, for cryptocurrencies, this minimum amount begins at $50.
• When it comes to Quorex withdrawals we recommend being particularly attentive, as there are reported issues with the withdrawal process that should not be neglected.

Account Types

Quotex presents a range of account types including Demo, Standard, Pro, and VIP, each featuring distinct minimum deposit requirements (starting from $10 ), tradable assets, and account currencies. All in all, the Demo account caters to all, the Standard account is tailored for beginners, the Pro account is more suitable for professional traders, and the VIP account is intended for seasoned traders engaged in full-time trading.

• The demo account provides users with complete access to the range of instruments and tools accessible on Quotex trading platforms. This encompasses the opportunity to engage in practicing diverse trading strategies and gaining insights into the market along with the broker's offerings.

Quotex Review Conclusion

Based on the comprehensive information collected about Quotex, significant concerns arise regarding the broker's reliability and credibility, so we do not recommend Quotex for trading or investing. The fact that it is registered in Saint Vincent and the Grenadines casts doubt on its reliability, creating a concerning possibility of it being associated with financial fraudulent activities.

We strongly advise staying away from brokers with dubious registrations and instead, giving preference to those with established, reputable track records. Look for brokers known for favorable trading conditions and trustworthy services with licenses such as FCA, ASIC, or CySEC, as these licenses offer a heightened level of security and safeguards.

• Overall ranking and experience for Quotex is Negative