category: Unregulated Brokers

Is EagleFX Scam or Legit Broker?

No, engaging in trading with EagleFX is not recommended. The company operates under an offshore license from Dominica, which is considered the riskiest option as the company is based only in an offshore zone. Brokers located in Dominica are not trustworthy because of the lack of proper oversight and guidelines established by the jurisdiction itself. The country’s Financial Services Unit does not have special laws and guidelines for forex trading, thus making trading with EagleFX risky and financially unsteady.

• In general, when dealing with offshore companies like EagleFX or other brokers with offshore registration (Milton Markets, Capitalix, and Zebra Finance) it is advised to exercise utmost caution.

What is EagleFX?

According to the broker's website, EagleFX functions as an internet-based STP broker for Forex and cryptocurrency trading, offering CFD trading across a wide range of assets and favorable trading circumstances through the acclaimed MT4 platform. As the broker states, with EagleFX, users can access substantial liquidity, enjoy high leverage of up to 1:500, and benefit from competitive spreads in the industry.

Also, EagleFX provides 24/7 live customer service, doesn't impose any deposit or withdrawal fees, and ensures withdrawals are processed within 30 minutes or less. 

However, our research of the broker has brought to light numerous issues, with some of the most notable ones including:

• Registration: EagleFX is located in Dominica (EagleFX Ltd, 8 Copthall, Roseau Valley 00152, The Commonwealth of Dominica). Dominica does not acknowledge forex services as an independent business category. Consequently, there are no existing laws, statutory regulations, and protection mechanisms in place for traders. This means, that brokers from Dominica are not the safest options to consider for forex. Instead, it is wiser to choose a broker with a license from reputable financial authorities, good standing, and proven experience in the market (Check HFM, Interactive Brokers, and FP Markets).
• Mostly negative client feedback: Generally, EagleFX has mixed reviews from clients. They are not totally negative. However, together with satisfied feedback, there are still many negative reviews and alerts to be cautious about, claiming that the broker has ripped them off and caused them to lose all their investments. In fact, reviews from real clients shouldn't be neglected, especially when the issues are in regard to deposits and withdrawals. 
• Inappropriate deposit and Withdrawal process: As in the case of many offshore brokers, EagleFX also seems to have issues with the withdrawal process. Many clients state that they are not able to process their profits fully and experience financial losses. It is a well-known fact, that in forex trading the safety of funds is one of the most essential aspects, thus we recommend traders trust their money only to trustworthy companies that due to their quality services will help them get profits. 

Overall EagleFX Ranking

Based on our extensively informed Expert Opinion, supported by over a decade of hands-on experience in Forex Trading, we have revealed noteworthy concerns regarding EagleFX's regulation and overall reliability. Consequently, we cannot provide a positive ranking upon EagleFX.

• EagleFX 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.

EagleFX Alternative Brokers

Due to the considerable safety concerns associated with EagleFX, we strongly advise exploring significantly superior alternatives known for their stringent regulations and exceptional trading conditions. Below, we have a selection of reputable brokers and reliable options for your comparison:

• OANDA – Good Broker with Low Deposit
• MultiBank Exchange – Low Spread Broker
• Dukascopy – Good for High Leverage and Online Banking

Deposits and Withdrawals

EagleFX claims to offer multiple deposit methods including Bitcoin and Wire Transfer via Instacoins. The minimum deposit for a Credit/Debit Card and Bank Wire Transfer is $50.  There are no fees for deposits or withdrawals made on the broker's platform. However, all Bitcoin transactions are subject to the blockchain network and miner fees.

• Generally, withdrawals are reviewed by the payments team within 30 minutes. In case of delays, traders are advised to get in touch with EagleFX  24/7 support team via. Live Chat.
• The minimum withdrawal amount via Bitcoin is 10 USD/GBP/EUR. 
• However, we recommend being careful with withdrawals, as many traders warn about issues they have faced while trading with the broker, which is confirming its unsafe nature

Account Types

EagleFX offers a single standard live account applicable to all clients. Besides, clients have the choice to establish a demo account, along with the availability of an Islamic/Swap-free account. Through the live account, traders can access 55 currency pairs, including majors, minors, and exotics. The broker offers a low minimum deposit of $50 and high leverage of up to 1:500.

• The demo account has identical features to the live account, affording traders the chance to engage in risk-free trading practices without the possibility of experiencing financial losses.

EagleFX Review Conclusion

Based on the accumulated information about EagleFX, there are notable reservations concerning the broker's dependability and integrity, so overall EagleFX is not recoomended for trading and is quite suspicious. Its registration in Dominica undermines the broker's credibility, creating a heightened potential for it to be associated with financial fraud.

It's advisable to stay away from brokers with dubious registrations and instead prioritize those with established track records, recognized for delivering consistent exceptional trading conditions and dependable services over time. Traders should prioritize brokers holding licenses such as FCA, ASIC, or CySEC, as these licenses offer elevated levels of security.

• Overall ranking and experience for EagleFX is Negative

Is Milton Markets Scam or Legit Broker?

No, it is not safe to trade with Milton Markets. The company operates with an offshore license from Saint Vincent and the Grenadines, which is considered the highest risk if company solely based offshore. The payment agent of Milton Financial Services is MFSC Managements Limited, located at 30 Tempon Street, Engomi, Nicosia, 2408, Cyprus, however it is only used for payment processes and has nothing to do with regulation of the Forex Trading operation of the company itself. 

• In fact, scammers frequently target offshore areas because of the absence of proper oversight and regulatory guidelines, so there is high risk to fall into one of those proposals. Overall, dealing with offshore companies, such as Milton Markets and others (OsprayFX, COIN-ROYAL, etc.) with a license from Saint Vincent and the Grenadines demands caution due to their typical lack of transparency. Learn more about why signing in with brokers from Saint Vincent and the Grenadines is not advisable.

What is Milton Markets?

Registered in 2021 Milton Markets is a Forex and CFD broker. According to the website, Milton Markets provides highly favorable trading conditions for traders of all skill levels, catering to both beginners and day traders (Read about Day trading in our detailed article). Also, it states that there are no hidden fees, making the trading experience transparent and reliable. It offers to operate trades on the market's popular MT4 platform, enabling leverages as high as 1:1000.

However, there are a lot of issues we were able to reveal while researching the broker, and some of the most important ones including:

• Lack of proper registration: In Forex trading the most crucial aspect is registration. Traders are urged to choose brokers that have a license from top-tier agencies. What does this give? This is a guarantee for the highest safety and reliability, granting the customers the reassurance that their funds and profits are safe.
• Withdrawal and Deposit Issues: There is no need to mention that the funds’ accessibility is essential in Forex trading. Unfortunately, many brokers from offshore zone lack in this respect. It is common for them to operate for a certain period, then disappear from the market together with their clients’ investments. To avoid financial losses, it is always preferable to choose a regulated broker, that provides a package of financial protection (Different Compensation schemes, Negative Balance protection, etc.)
• Restricted access in a wide list of countries: Milton Markets mentions that it does not accept clients from the US, Canada,  Iran, North Korea, St. Vincent and the Grenadine Islands. It also might be restricted in North Korea, Afghanistan, American Samoa, Belarus Burundi, Central African Republic, Congo - Brazzaville, Cuba, Iran, Iraq, Lebanon, Liberia, Libya, Myanmar (Burma), Puerto Rico, Rwanda, Somalia, Sudan, Syria, U.S. Virgin Islands, United States, Venezuela, Yemen, Zimbabwe.
• Negative Review from clients: While choosing a forex broker it is crucial to consider review and feedback from actual traders. This will help to have a better insight into the brokers’ offerings, trading conditions, and standing in the market. Based on available reviews, Milton Markets is not a reliable broker. Many traders mention it being a total scam. The main issue mentioned is the inappropriate deposit and withdrawal processes.

Overall Milton Markets Ranking

Based on our Expert Opinion, backed by over 10 Years of experience in Forex Trading, we have uncovered notable concerns regarding Milton Markets' regulation and reliability. As a result, we cannot provide a positive ranking for Milton Markets.

• Milton Market 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.

Milton Market Alternative Brokers

Due to the significant safety issues with Milton Market, we highly recommend considering much better alternatives that boast tight regulations and excellent trading conditions. We select Good Brokers and reliable options for your comparison below: 

• Interactive Brokers – Good Instruments and CopyTrading
• FP Markets – Low Spreads and Competitive Trading Conditions
• GO Markets– The best selection of Educational Resources

Deposits and Withdrawals

Milton Markets deposit methods are limited to Bitwallet and a wire transfer within Japan. These payment methods may not be suitable for a wide range of traders due to their constraints. This is perhaps one of the reasons why residents from a wide list of countries cannot sign with the broker. In fact, the availability of different deposit and withdrawal options is crucial for any broker, making it more accessible for traders.

• As to withdrawals, there is a specified 3-5 days period, which could be considered relatively lengthy for some traders.
• Also, it is impossible to overlook the fact, that there are many dissatisfied traders with the deposit and withdrawal processes offered by Milton Markets.

Account Types

Milton Markets offers two account types: Flex and Smart. The Flex account demands a minimum deposit of $50, while for the Smart account, the minimum requirement is $100. Both accounts come with high leverage - the Flex account at 1:500 and the Smart account at 1:1000. Additionally, the spread on the Flex account starts at 1.7 pips, which is slightly higher compared to the Smart account (Check our article on Low Spread Brokers).

• The leverage of the Smart account is determined based on the account's balance.
• When depositing funds in a currency other than JPY /USD / EUR), the conversion will be done at the prevailing rate at deposit reflection.

Milton Markets Review Conclusion

Based on the gathered information about Milton Markets, there are evident concerns regarding the broker's reliability and trustworthiness. Its Saint Vincent and the Grenadines registration makes the broker an unreliable offering, raising the possibility of it being a financial scam.

We recommend avoiding brokers with questionable registrations and giving preference to those with well-established reputations, known for consistently providing excellent trading conditions and reliable services over the years. Traders should prioritize brokers holding top-tier licenses such as FCA, ASIC, or CySEC, as these licenses offer a higher level of security and protection.

• Overall ranking and experience for Milton Markets is Negative

Is ECN.Broker Scam or Legit Broker?

No, it is not safe to trade with ECN.Broker. The main reason why it is not recommendable to trade with ECN.Broker is its offshore jurisdiction and lenient regulations (Registration number 164483, Address: Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles).

• Seychelles is known offshore financial zone, so when brokers are registered in offshore jurisdictions there is a great chance that their offerings might be highly risky and lead to financial losses due to scam. This is why it is crucial to research the broker's background, regulations, and feedback from real traders before signing in with ECN.Broker or other offshore or unregistered brokers (ClickTrades, OspreyFX, etc.)

What is ECN.Broker?

Founded in 2015, ECN.Broker provides direct access to markets and liquidity providers. The broker boasts about its fast order execution, low spreads and no requotes. Besides, ECN.Broker enables access to more than 260 instruments, and offers various account types. 

Also, ECN.Broker gives access to one of the most popular trading strategies, Copy trading, enabling traders to create and maintain their own strategies in ECN.Broker CopyTrading. However, during our research, we try to examine the broker from different perspectives, and not only rely on the information provided on the broker's website.

This is what we were able to reveal about ECN.Broker:

• To begin with, ECN.Broker has a very low trust score. This is mostly due to the fact that the broker is not properly regulated and does not hold any license from a reputable agency. In forex trading, lack of regulation is considered a huge red flag for any broker, even for those that provide favorable features and offerings. Thus, to be on the safe side, it is always wiser to choose a regulated broker with a higher trust score, good standing in the market and favorable trading conditions. 
• Besides, it is also useful to check feedback and reviews from other real traders. This way it is possible to learn more about the broker's offerings, deposit and withdrawal processes, etc. Based on our research, traders do not rank ECN.Broker positively, and most of the complaints are regarding withdrawals.
• In addition, ECN.Broker states on its website that it does not accept residents of certain jurisdictions, such as the USA and DPRK.
• All in all, based on the accumulated information, we are of the opinion that it is not preferable to sign in with ECN.Broker. There are much better options among adequately regulated brokers, that also provide better conditions (trading tools, technical analysis, etc.), also, Brokers that provide various protection and safety schemes, such as Negative balance protection. 

Overall ECN.Broker Ranking

We have revealed significant issues regarding ECN.Broker regulation and reliability, thus we do not rank positively ECN.Broker, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• ECN.Broker 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.

ECN.Broker Alternative Brokers

Based on the significant safety issues with ECN.Broker here are much better Alternatives to ECN.Broker with tight regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• BDSwiss – Good Instruments and CopyTrading
• Pepperstone – Low Spreads and Competitive Trading Conditions
• Deriv – The best selection of Educational Resources

Deposits and Withdrawals

ECN.Broker offers various deposit and withdrawal options, such as Bank wire, Cards, E-wallets (Bitcoin, Perfect Money, Binance).

• The broker enables Minimum Deposits as low as 1$, however, this is based on the account type. 
• Bank transfers typically take up to 1 business day to process deposits. Generally, there is a limit to transactions in a day (not more than 5 transactions). 
• The broker does not charge a fee for depositing and withdrawing funds. The commission can be kept by the bank or payment system through which the payment is processed (Read our article on the No-commission Forex Brokers).
• When it comes to withdrawals, we advise traders to be very careful, as they are complaints from traders regarding the withdrawal process. As a matter of fact, the safety and accessibility of funds is one of the major points to consider in Forex trading. 

Account Types

ECN.Broker provides the following types of accounts: ECN, ECN Fix and ECN Mini (Cent). Upon registration, an automatic trading account is created for the traders. If they wish to open additional accounts, they can easily do so independently through the "My Account" section. 

• To register for "My Account" it is necassary to click on the "Start Trading" button located on the main page of the site. From there, it is needed to fill in the required information and follow the provided instructions to complete the sign-up process.

ECN.Broker Review Conclusion

Based on the gathered information about ECN.Broker, there are clear concerns regarding the broker's reliability and trustworthiness. Despite some appealing features and offerings, the fact that it is registered in an offshore zone makes the broker a risky choice.

Rather than opting for brokers with questionable registrations, it is highly advisable to choose those with a well-established reputation, known for providing excellent trading conditions and reliable services over the years. Traders should prioritize brokers holding top-tier licenses such as FCA, ASIC, or CySEC, as these licenses offer a greater level of security and protection. Also, some of the reliable brokers to consider are HFM, FP Markets, eToro. 

• Overall ranking and experience for ECN.Broker is Negative

Is ClickTrades Scam or Legit Broker?

No, it is not safe to trade with ClickTrades due to the risks associated with its registration in Seychelles, an offshore jurisdiction known for its looser regulations and oversight. Founded in 2018, ClickTrades is regulated by Seychelles Financial Services Authority with the license number SD020.

• Offshore brokers like ClickTrades often lack tight financial regulations, protection measures, and transparent practices found in brokers registered in reputable jurisdictions (See our list of Regulated brokers). Consequently, trading with ClickTrades or other brokers from Seychelles such as T4Trade  or GemForex increases the likelihood of risks and financial scams. 

Is ClickTrades legit Registered in UAE? 

No ClickTrades is solely offshore Seychelles registered Broker and does not holdUAE Trading License, so can not be considered a safe option for trading purposes. 

What is ClickTrades?

Founded in 2018, ClickTrades is a forex broker that operates under the Seychelles Financial Services Authority (Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe Seychelles). ClickTrades provides a diverse range of investment opportunities across multiple asset classes, including over 55 forex currency pairs, shares, indices, CFDs, commodities, gold, silver, bitcoin, and other cryptocurrencies. 

The broker enables trading through the industry-popular MT5 and WebTrader. Besides, ClickTrades also enables access to Trading Central, several trading accounts, and other favorable offerings. However, as has already been mentioned, ClickTrades does not hold any serious license, thus it might be a risky option for Forex Trading.

• Generally, the main recommendation while choosing a reliable forex broker is to find a company with tight regulations and good standing in the market. Very often offshore brokers turn out to be financial scams. 
• In addition to the inadequate regulation, ClickTrades seems to have vast number of negative reviews. Feedback and reviews from side of other traders are very useful to consider while choosing a broker. In this case, they are mostly negative and refer to an insufficient withdrawal process. Besides, traders report that they are constantly contacted by the company's agents and are encouraged to make more deposits. In fact, this is how most scam brokers operate.
• Also, we revealed that ClickTrades does not accept residents of certain jurisdictions (Japan, Canada, and the USA), which is obvious since regulations are very tight there even for offshore registered brokers. 
• At last, we highly advise traders to be extremely cautious when considering signing up with the broker and, preferably, avoid it altogether. It is crucial to keep in mind that ClickTrades lacks proper regulation and may not provide sufficient protection schemes (such as Negative balance protection) for investments. 

Overall ClickTrades Ranking

We have significant concerns regarding ClickTrades regulatory status and overall reliability, thus we do not rank positively ClickTrades, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• ClickTrades 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.

Is T4Trade Scam or Legit Broker?

No, it is not safe to trade with T4Trade. Based on the information provided on the broker's website, T4Trade is registered in Seychelles with license number SD029. The latter is a widely known offshore jurisdiction that lacks comprehensive guidelines and regulations. 

• The fact that T4Trade has an offshore registration is a red flag for those considering signing with it. Although the offering of the broker seems to be attractive, in Forex trading only properly licensed brokers from trusted jurisdictions can be fully trusted. Brokers registered in Seychelles, such as other non-trusted Brokers like Capitalix and GemForex are not trustworthy for investments. 

What is T4Trade?

Based on the information provided on the broker's website, T4Trade provides a wide range of financial instruments (Forex, Metals, Indices, Commodities, Futures, and Shares ), featuring competitive spreads and flexible leverage options. T4Trade is dedicated to catering to the needs of both novice and experienced traders, offering interesting trading tools and conditions.

The broker has its own WebTrader App that is possible to access through any operating system (Windows, Android, MacOS, and iOS). Besides, the broker has a Trading Academy that includes various webinars, eBooks, videos, etc. 

The first impression about the broker is good, considering the offerings and features it provides, however, it lacks one crucial aspect - proper registration from a top-tier authority, which in Forex trading is a huge drawback. 

• We found that T4Trade is an offshore broker with a registered address of F20, 1st Floor, Eden Plaza, Eden Island, Seychelles, and is a trading name of Tradeco Limited. Tradeco Limited is authorized and regulated by the Seychelles Financial Services Authority with license number SD029. 
• Besides, T4Trade is not intended for EU residents as it is not licensed in that region. Additionally, T4Trade does not extend its services to residents of specific jurisdictions, including the USA, Iran, Cuba, Sudan, Syria, and North Korea.
• When we researched deeper, we were able to reveal real reviews and feedback from traders that were not really that positive. Although some traders mention being satisfied with the broker's services, there are also a great number of reviews claiming that T4Trdae is a scam. Also, there is a chance that many of the good reviews about the broker are false and fabricated. 
• Moreover, we found that customers report inadequate withdrawals, and most traders are not satisfied with the withdrawal process. In fact, easy deposits and withdrawals are one of the key aspects for any broker, as money safety and accessibility is crucial.
• We strongly recommend traders be very careful while signing with the broker and better to avoid it. Remember, that this is not a properly regulated broker with sufficient protection schemes. Thus, your investments are always at risk. It is always safer to choose a regulated broker with licenses from top-tier authorities and feel at ease while trading. 

Overall T4Trade Ranking

We were able to reveal issues regarding regulations and reliability of T4Trade, thus we do not rank positively T4Trade, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• T4TradeOverall Ranking is 4 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.

T4Trade Alternative Brokers

Because of the evident issues regarding T4Trade regulations here are much better Alternatives to T4Trade with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• eToro – Best for Copy Trading
• XM – Best selection of Educational Resources
• Pepperstone – Low Spreads and Competitive Trading Conditions

Deposits and Withdrawals

For deposits traders can choose from the available funding methods T4Trade offers, as Broker mentions its conditions:

• The processing time for deposits varies based on the chosen method. Bank wire transfers, for instance, may take up to 3 working days to be processed, depending on the respective bank.
• The broker specifies that profits can only be withdrawn using the Bank Wire method. Clients have the option to receive their initial deposit via the original payment method, and subsequently, profits will be transferred to their designated bank accounts. However, traders are required to submit a withdrawal request through their respective client portals for bank withdrawals.
• Yet, Based on the client's feedback, we were able to reveal that the withdrawal process is not always satisfactory so the Broker claims empty promises which are not also overseen by regulators, and traders face problems in this aspect, to the extent that many are not able to withdraw their profits at all. 

Trading Platforms

T4Trade offers the well-known MT4 and WebTrader platforms to conduct trades. Also provider T4Trade’s mobile trading app and T4Trade's Web trading app, enabling clients to trade online, anywhere, directly from their phone, by gaining direct access to more than 300 trading instruments. 

• T4Trade's Web trading app is compatible with various operating systems, such as IOS, Windows, and Android.

T4Trade Review Conclusion

Based on the available information we have gathered about T4Trade, it appears that the broker may not be reliable and trustworthy. Despite the appealing features and offerings, its registration in an offshore zone is a significant red flag for traders. Furthermore, negative trader feedback and reviews are additional reason to be cautious and refrain from signing up with this broker.

Instead, we always recommend choosing a broker that has gained its name through years of seamless operation and great trading conditions. Also, a license from a top-tier authority is a must, if you want to engage in trading with minimal risks. Find a broker with a license from reputable authorities, such as FCA, ASIC, or CySEC, such as  Go Markets, BlackBull Markets, and FP Markets.

• Overall ranking and experience for T4Trade is Negative

Is OspreyFX Scam or Legit Broker?

It is not safe to sign in with OspreyFX. The main reason to stay away from the broker is its offshore registration. The Broker does not hold any serious license that provides a safe trading environment. Instead, it is registered in St. Vincent and the Grenadines. The latter is a well-known offshore zone that does not provide sufficient guidelines and rules.

• Although OspreyFX has rather attractive offerings and features, it is still located in St. Vincent and the Grenadines. Brokers under the entity are not trustworthy and often turn out to be financial scams. For more information about why to avoid brokers from St. Vincent and the Grenadines read our detailed article.

What is OspreyFX?

Our research showed that OspreyFX is an ECN broker, located in St. Vincent and the Grenadines. The broker was established in 2019, and offers over 120 Forex and Contract for Difference (CFD) assets, also leverage that ranges up to 1:500.

• We found that OspreyFX has quite interesting and attractive offerings, including Funded accounts, tight and low spreads starting from 0,1 pips, and 24/7 customer support. However, in Forex Trading the most important factor is regulation. No matter how attractive the features are, if the broker does not provide sufficient protection and safety measures, it is still recommended to avoid the broker.
• So, in the case of OspreyFX, the main red flag is its lack of a license from a top-tier authority. With its St. Vincent and the Grenadines license it is not the most reliable broker to sign with. We recommend checking our list of regulated brokers that are both trustworthy with years of proven experience and offer great opportunities in trading.
• We always look for genuine reviews and feedback from real traders during our research. This is one of the most accurate ways to learn about the broker. As always happens with other offshore brokers, we found that OspreyFX has issues with the withdrawal process. This is a huge drawback, as the safety and accessibility of funds are crucial in Forex trading. We advise traders to always dig deeper and learn about regulation, the funding process, customer support, and other important factors before choosing a broker.

Overall OspreyFX Ranking

Our research revealed issues regarding OspreyFX reliability and regulations, thus we do not rank positively OspreyFX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• OspreyFX Overall Ranking is 4 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.

OspreyFX Alternative Brokers

Based on the issues we were able to reveal regarding the safety and regulation of OspreyFX here are much better Alternatives to OspreyFX with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• eToro – Good for CopyTrading and Cryptocurrency Trading
• Dukascopy – Excellent for Shares, Futures Trading
• BlackBull Markets – Good for High Leverage Trading

Deposits and Withdrawals

OspreyFX claims to offer a range of funding options including Bitcoin, Crypto, Credit/Debit Cards, and PayRedeem.

• The funds traders deposit into their OspreyFX account using a Credit or Debit card are limited to the amount legally authorized to refund to that specific card. However, any additional profits accumulated can be withdrawn using either Bitcoin or Wire/Bank Transfer methods.
• Besides, we found reviews from traders claiming issues with withdrawals and inability to withdraw money, which is unfortunatelly a typical practise unathorized and scam brokers do. 

Account Types

OspreyFX presents a selection of four distinct account types, each tailored with specific features and limitations:

• Standard Accounts offer spreads starting from 0.8 pips, a commission fee of $7.00 per trade and require a minimum deposit of $50.
• PRO Accounts offer spreads starting from 0.4 pips, a commission fee of $8.00 per trade, and require a minimum deposit of $500.
• VAR Accounts offer spreads starting from 1.2 pips, do not include any commission fee, and require a minimum deposit of $250.
• At last, Mini Accounts offer spreads starting from 1.0 pips, a commission fee is $1.00, and require a minimum deposit of $25.

OspreyFX Review Conclusion

Based on the information we were able to come up with about OspreyFX, we found that the broker is not reliable and trustworthy enough. Although the features and offerings of the broker are quite attractive, it is still registered in an offshore zone, huge red flag traders need to consider. Besides, trader feedback and reviews are another reason to hold back from signing with the broker.

Our recommendation, which is based on years of experience in the financial market, 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 OspreyFX is Negative

Is Capitalix Scam or Legit Broker?

No, it is not safe to sign in with Capitalix. The reason is that the broker has only offshore registration under Seychelles (registration number 8426168-1). It is a well-known fact that offshore brokers do not provide sufficient trading conditions and do not follow specific rules and requirements. 

• Besides, based on the information provided on the Capitalix website, the broker has a Cyprus registration (HE404118). However, the regulatory body in Cyprus is CySEC which oversees financial activities in the country, and clearly, Capitalix does not have a license issued by this particular authority therefore is not eligable to offer Forex Trading.

What is Capitalix?

According to the broker’s website, Capitalix provides an extensive selection of about 150 forex currency pairs, commodities, stocks, indices, gold, silver, oil, bitcoin, and various other cryptocurrencies. The broker also claims to be awarded by the Global Brands Magazine as the fastest-growing forex broker in GCC.

• However, research showed that Capitalix does not hold any license from top-tier agencies. In fact, it has a Seychelles registration which is known offshore zone (registration number 8426168-1 holder of an FSA license with number SD052 and registered address at CT House, Office 9A, Providence, Mahe, Seychelles). Read Why Avoid Offshore Brokers here. 
• Also, the broker claims to be registered in Cyprus (4Square (CY) Ltd, registered in Cyprus with registration number HE404118 and registered address Makariou ΙΙΙ, 256, CHARAKI COURT, Flat D4, 3105, Limassol, Cyprus). Yet, all financial firms located in Cyprus should hold a license from CySEC which is not the case with Capitalix. This means, that trading with the broker might lead to financial risks.
• Besides, our further research showed that most customers are dissatisfied with Capitalix and sharing Capitalix Fraud experience. The feedback of traders in Forex trading is crucial, and it is one of the first things to look for when choosing a broker. One of the most common complaints about Capitalix among the traders is the insufficient withdrawal process, and constant calls from the company, asking clients to deposit more money. In trading, this is a common practice among scam brokers.
• We strongly advise all traders to sign in with regulated brokers only. In Forex trading safety of funds is the key point, and finding a reliable broker with good standing and top-tier licenses is crucial. Here is our recommended list of registered brokers. 

Overall Capitalix Ranking

Our research revealed problems regarding Capitalix safety and regulations, so we do not rank positively Capitalix, based on our Expert Opinion with over 10 Years of experience in Trading.

• Capitalix 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.

Capitalix Alternative Brokers

Taking into account our findings and issues with the reliability of Capitalix here are much better Alternatives to Capitalix with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• Trading 212 – Good Instruments and CopyTrading
• FXGT – Low Spreads and Competitive Trading Conditions
• XM – Wide Range of Trading Opportunities

Deposits and Withdrawals

Capitalix offers different funding methods for deposits and withdrawals, including credit cards, and bank wires. The broker also mentions that it is determined to expand its funding methods.

• We found that the minimum withdrawal amount via wire transfer is $50.
• According to the website, the Company processes all withdrawals within a span of 3 business days. The exact date of the refund relies on the specific conditions of clients' banks.
• However, it is concerning, that the most part of the negative reviews from customers is for the insufficient withdrawal process. Thus, we advise traders to be very careful and sign in with brokers with years of experience and positive feedback from traders.

Account Types

Capitalix offers a range of account types: Basis, Silver, Gold, Platinum, and VIP which provide different conditions and trading opportunities once you follow with Capitalix Login and choose desired account type. Spreads for Basic accounts start from 3 pips, and are higher than the market average. For VIP accounts spreads are considerably low (starting from 0.3 PIPS).

Yet, the Capitalix App does not offer a Demo account, which is a drawback especially for new traders, as Demo accounts enable traders to practice before starting real trades. 

Capitalix Review Conclusion

Based on our experience and Capitalix Review, we strongly advise against trading with this broker. It is highly recommended to avoid engaging with offshore and unregulated entities, as many traders ask if Capitalix Real or Fake. Since Capitalix is only offshore based Broker it is rather fake Capitalix trading offering since you do not know how exactly broker operates as no serious regulator oversee its operations. Besides, Broker offerings are not particularly appealing, considering there are numerous reputable brokers that provide better trading conditions while ensuring safety and security.

We recommend individuals and firms to exclusively trade and invest with brokers that are regulated by trustworthy authorities like the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), or similar reputable regulatory bodies. These authorities offer compensation and enforce stringent supervision, ensuring a higher level of safety and protection. We would better advise to consider reliable brokers such as FP Markets, Go Markets, and HFM which not only provide excellent trading conditions but also maintain a solid track record in the industry.

• Overall ranking and experience for Capitalix is Negative

Is MTrading Scam or Legit Broker?

MTrading is not a safe broker to sign with. The reason is evident: the Broker does not hold any serious license that provide safe trading condiitons. On its website, the broker mentions that MTrading operate via Nevis entity and owned by Finvest Solutions Limited, with a registration number of 55504.

• While in fact, Nevis is an offshore jurisdiction for forex brokers. Which has low set-up requirements and minimal regulation towards Forex Trading, which is rather just registration of the company but not overseeing of how broker operate. Therefore lack of regulatory requirements can also lead to potential risks of frauds for traders who choose to sign up with any offshore brokers. Read Why Avoid Brokers SVG

What is MTrading?

Founded in 2012, MTrading offers a range of financial services and trading instruments, including Forex, CFDs, and Crypto. On its website, MTrading claims to be a leading broker in the field, with numerous awards and favorable offerings, access to the most popular trading platforms, education resources, and news. Another attractive proposal of the broker is that it enables traders access to Rebate services.

• However, the most important aspect of Forex trading still remains safety and reliability. In this respect, MTrading apparently lacks. Since MTrading is an offshore broker registered in Nevis (Unit 5, Long Stone House, PO box 1200, Main Street, Charlestown).
• Because of the lack of strict requirements and rigorous oversight of offshore jurisdictions, trading with brokers having only offshore licenses is not secure and might lead to various risks.
• On the other hand, it is always important to look for reviews and feedback from other traders and see their experience with the broker. Through further research, we found numerous negative comments and reviews about MTrading claiming the improper withdrawal process, extra charges, and insufficient customer care.
• To avoid risks in trading, we strongly recommend choosing a broker with good standing and years of proven experience. Also, a license from a top-tier authority is a must. You can learn more about regulated brokers and the advantages of signing with them here. 

Overall MTrading Ranking

Our research revealed issues regarding MTrading safety and regulations, thus we do not rank positively MTrading, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• MTrading 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.

MTrading Alternative Brokers

Taking into account our findings and issues with the reliability of MTrading here are much better Alternatives to MTrading with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good Instruments and CopyTrading
• Pepperstone – Low Spreads and Competitive Trading Conditions
• XM – Wide Range of Trading Opportunities

Deposits and Withdrawals

For money funding MTrading provides a variety of payment methods to facilitate transactions, including wire transfers and debit/credit cards, as well as more advanced e-wallets and cryptocurrency methods. Here are some notes about MTrading Withdrawal: 

• In order to make a withdrawal, it is necessary to have a valid Forex trading account. The process begins by accessing the Trader's Room, which serves as a personal client area allowing users to monitor their transactions and account details. Traders should complete the account verification process in order to activate the withdrawal feature.
• If traders choose a currency different from the local one, the system will automatically calculate the exchange rate, fees, and the remaining balance.
• However, based on our research and revelations, there are many negative reviews concerning the MTrading withdrawal process. Many traders complain about delays in withdrawals or their cancelation overall, which is unfortunately a typical trick of offshore/ unregulated Brokers since company is not overseen

Trading Platforms

MTrading offers a choice of trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely recognized and preferred by traders for their advanced features, charting tools, and trading opportunities, which overall provides quate a good software base for the trading itself. Yet, availability of popular platforrms does not mean Broker is safe entough for good trading strategy. 

MTrading Review Conclusion

Concluding MTrading experience we do not advise trading with the broker, it is strongly recommended to avoid dealing with offshore and unregulated entities. Besides, MTrading offering is not very much attractive even, there are many good standing Brokers offering better trading conditions and are also safe.

We advise individuals and firms to trade and invest only with brokers regulated by reputable authorities such as the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), or similar regulatory bodies that offer compensation and strict supervision. You can checl out better reliable brokers such as FP Markets, XM, and Go Markets which also provide great trading conditions overall. 

• Overall ranking and experience for MTrading is Negative

Is  Zebra Finance Scam or Legit Broker?

Zebra Finance is not a safe broker to trade with. This is an unregistered broker, that does not hold any type of license. In fact, the company fails to mention its registration address, or any contact information, which is a huge red flag in forex trading.

• It is a fact, that to start forex trading traders should first of all find a reliable broker with years’ of experience and good standing. Neither of these is relatable to Zebra Finance, as the company’s website does not provide any information either about its registration or any licenses it holds.

What is Zebra Finance?

On its website, the company states to be offering trading in the world's most popular markets, such as forex, commodities, indices, and cryptocurrencies. Besides, it enables to explore a wide range of trading opportunities. Zebra Finance also provides access to various financial instruments, offers free real-time quotes, and has dedicated round-the-clock customer support.

Also, the company claims to provide Multi-language 24/7 professional support, a Free demo account, favorable trading tools, Real-time quotes with push notifications, Professional market analysis broadcast, etc.

• However, when we go a little deeper in our research a few things become quite evident. First, the Zebra Finance website is quite unprofessional, lacking to mention anything about its registration address, licenses, and any other information that is essential. This leads us to believe, that the broker is not registered anywhere, and it does not hold any license, not from top-tier authorities, and not even from an offshore regulation.

• Besides, there is not any information about the year it was founded, but probably it is quite a new broker, as we couldn’t find any feedback from traders about the company.

• All of these said, we never advise choosing a broker with so many drawbacks. It is a must to choose a trustworthy broker with clear and favorable offerings, a website with clear and thorough information, and good and trader-friendly platforms.

Overall Zebra Finance Ranking

Taking into account our findings about security and regulations problems with Zebra Finance, we do not rank positively Zebra Finance, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and many negative reviews from traders.  

• Zebra Finance 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.

Zebra Finance Alternative Brokers

Based on our findings of Zebra Finance reliability and safety issues, here are much better Alternatives to Zebra Financewith tight regulations and favorable conditions. We select Good Brokers and reliable options for your comparison below:   

• AvaTrade – Good Instruments and CopyTrading
• Capital Index – Good Trading Conditions
• ThinkMarkets – Competitive Spreads

Deposit & Withdrawal

Zebra Finance does not provide any information about its funding methods and options. In fact, there is no mention either of deposit or withdrawal processes on the broker’s website.

• In general, depositing and withdrawing funds successfully and without hindrance is one of the important points in forex trading. When choosing a broker, it is advisable to check the broker’s funding options and proposals closely. As it is clear, Zebra Finance lacks in this respect.  

Zebra Finance Review Conclusion

We do not recommend signing in with Zebra Finance. The biggest red flag about the broker is the lack of information. There is next to no information about the broker’s offerings, services, regulations, or even contact information. Since there is no any mention of the broker's location, registration, or licenses, we can only conclude that this is an unregulated broker with doubtful offerings.

Thus, we advise traders to pick a well-regulated broker with UK’s FCA or Australian ASIC registration. We advise signing in with trustworthy brokers such as XM, Interactive Brokers, and Trading212.

• Overall ranking and experience for Zebra Finance is Negative