category: Unregulated Brokers

Is MarketGBP Scam or Legit Broker?

No, MarketGBP is not a secure broker and it is not safe to trade with this company. MarketGBP is owned by Silver Wolf Ltd., which is an offshore company registered in the Marshall Islands.

• The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Dax300, Finbitex, and more.

What is MarketGBP?

MarketGBP offers Forex, Indices, Commodities, and Precious Metals trading. The broker doesn't provide any information about its offices or its regulation. They provide a UK phone number as a contact number, however, the company is not regulated by the UK's Financial Conduct Authority. Most probably, MarketGBP has been targeting British residents and as a result, has gotten on FCA's warning list in January 2019:

"MarketGBP is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization."

• Also, Italy's regulator CONSOB warned the Italian public against MarketGBP:

  "The National Commission for Companies and the Stock Exchange has ordered the following company (MarketGBP) to cease infringement consisting of the offer and performance of investment services and activities to the Italian public."

• In addition, we have previously reviewed companies (FXtrade777, TradeBNP) affiliated with Silver Wolf Limited that have been warned against by several regulators, which doesn’t look trustworthy at all.

MarketGBP Review Conclusion

We strongly advise all investors and traders to avoid MarketGBP and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers(Forex Brokers List) such as Pepperstone and BDSwiss.

MarketGBP Update

Our findings showed that the MarketGBP website is no longer active. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations. 

Is Tradeu2 Scam or Legit Broker?

Tradeu2 broker is a 100% fraud company. It is NOT SAFE to trade with this firm. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

What is Tradeu2?

Tradeu2 is owned by SUN CAPITAL LIMITED. It is an offshore forex broker registered in St. Vincent and the Grenadines with Financial Services. On the website of the Tradeu2 broker, there are also three other offices mentioned: in Italy, Germany, and Switzerland, although the broker is not registered in those countries to provide its financial products and services.

• In case Tradeu2 would have to get a license from Germany's Federal Financial Supervisory Authority, the initial capital required is at least EUR 730,000, and a minimum capital of at least EUR 50,000.

Tradeu2 Review Conclusion

We advise choosing only Regulated Brokers to invest with. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and BDSwiss.

Tradeu2 Update

Our findings showed that the Tradeu2 website is no longer active. There is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is CFD Royal Scam or Legit Broker?

According to our research, CFD Royal is a total scam. CFD Royal is owned and operated by Elit Property Vision LTD with a registered address in Sofia, Bulgaria. However, the broker is not authorized or regulated by the Financial Supervision Commission in Bulgaria or any other regulator.

• Forex and CFD brokers are required to have a license from the local financial authorities in order to offer and provide financial services. CFD Royal doesn’t carry such a license, so it cannot be considered a reliable broker to invest with.

What is CFD Royal?

As we kept our search about CFD Royal, we found a few shady things that definitely should be mentioned. The owner company Elit Property Vision LTD also owns other brokerages, such as CarterFS and RichmondFG. These companies have been blacklisted multiple times by different regulators, and this fact definitely doesn't put a lot of trust in CFD Royal.

• Another thing is that CFD Royal has previously been owned by United Limited, an offshore company based in the Marshall Islands. The Marshall Islands is notorious for its practically absent requirements and regulations. The setup cost is low and it does not regulate forex trading. And the last reason, why traders should avoid CFD Royal is that the company has been banned by the UK's Financial Conduct Authority:

"This firm (CFD Royal) is not authorized or registered by us but has been targeting people in the UK, claiming to be an authorized firm."

CFD Royal Review Conclusion

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

CFD Royal Update

Based on our research CFD Royal Website is inactive. It is unclear whether the broker has changed its name and operates another fraud Forex activity or is just gone. We recommend avoiding any proposals from CFD Royal and staying alert in case of any proposals. 

Is Meta Investing Scam or Legit Broker?

No, it is not safe to trade with Meta Investing. Meta Investing is owned by B.M.O. LTD., which is an offshore company registered in the Marshall Islands.

• The Marshall Islands is notorious for its practically absent requirements and regulations. The setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as GoldmanCFD, Capital88, and more. 

What is Meta Investing?

According to the website, Meta Investing Company is the largest broker in the market that provides the ability to trade on a financial market. Their trading software is a modern financial instrument for trading currency pairs and liquid goods. However, there are a lot of contradictory things about this broker. 

• The company states to be a certified financial broker of B.M.O. LTD. and provides a copy of the certificate of the Companies House (England and Wales). Despite the provided documents about the registration with the Companies House, it doesn’t mean the authorization of the Financial Conduct Authority. Companies House is the United Kingdom’s registrar of companies, it is not the regulator that approves licenses for the brokers in the UK.
• Moreover, the broker has been blacklisted by the UK's Financial Conduct Authority in November 2018:

"Meta Investing (claims to be a broker of B.M.O. LTD) is not authorized by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization."

• Also, the Ontario Securities Commission has recently issued a warning against Meta Investing:

  "Metainvesting also operating as Meta Investing and doing business as www.metainvesting.com and B.M.O. Ltd. are not registered in Ontario to engage in the business of trading in securities."

Meta Investing Review Conclusion

We advise all investors and traders to avoid Meta Investing and other brokers from the Marshall Islands. Traders should trade with well-regulated FX brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and BDSwiss.

Meta Investing Update

Our findings showed that Meta Investing is no longer active. There is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is Xiaohangjia Brokers Scam or Legit Broker?

According to our research, it is not safe to trade with Xiaohangjia Brokers. Xiaohangjia Brokers is owned by Xiaohangjia Futures Limited which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.

What is Xiaohangjia Brokers?

Xiaohangjia Brokers is owned by Xiaohangjia Futures Limited. It is an offshore forex broker registered in Vanuatu with Vanuatu Financial Services Commission. The advantages of this license are speed and low cost. 2% of Forex companies start without licenses and operate in places such as Vanuatu or the Caribbean island of Nevis.

• In fact, Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial establish capital which is $2,000 only, pay a fee, and within 2-3 months, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers (Top 100 Forex Brokers List) such as Circle Markets, Wigmarkets, and more.
• Comparing the license from Hong Kong’s SFC (The Securities and Futures Commission), it is a Type 3 license for forex brokers and the fee will be around $130,000. Also, it requires a minimum liquid Capital of $3.000,000.

Xiaohangjia Brokers Review Conclusion

We advise choosing only reliable companies to invest with and avoiding Xiaohangjia Brokers or any other offshore broker. Traders should better trade with well-regulated brokers for money safety such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and BDSwiss.

Xiaohangjia Brokers Update

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

Is Oracle-FX Scam or Legit Broker?

Oracle-FX is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade Bitex360. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry.

What is Oracle-FX?

Oracle-FX is owned by the Oracle Finance International INC. It is an offshore forex broker registered in the British Virgin Islands with a British Virgin Islands Financial Services Commission license. The whole process of getting the Forex license costs typically under $30,000. The company will also need to deposit a minimum of $125,000 in its corporate account. Comparing the license from New Zealand's FMA (Financial Markets Authority), the broker needs to have a physical office in New Zealand and minimum net tangible assets of 1 million NZD or 10% of average revenue. It is about $35,000-50,000 for a license depending on its type.

Oracle-FX Review Conclusion

Oracle-FX has been suspected as a scam broker. We advise all investors and traders to avoid Oracle-FX and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable forex brokers such as Pepperstone and BDSwiss.

• Overall ranking and experience for Oracle-FX is Negative

Oracle-FX Update

We found that the Oracle-FX website is no longer active. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

 Is Primus Forex Financial Group Scam or Legit Broker?

According to our research, Primus Forex Financial Group is a total scam. The broker is not regulated and has no legal right to provide financial services to the public. Moreover, Primus Forex Financial Group has been suspected of fraud, when pretending to be another company with a better reputation.

What is Primus Forex Financial Group?

Primus Forex Financial Group is the clone company of the forex trading broker Primus Capital Markets UK Limited. The clone claims to have the same address as the original company - 3rd Floor, 9 Devonshire Square London EC2M 4YD UNITED KINGDOM. Therefore, the clone should also be carrying the UK FCA license as the original company does. But the Primus Forex Financial Group is not licensed in the UK or any other countries.

• In case, of obtaining the STP license (Find STP brokers by link) from UK’s Financial Conduct Authority, the company would need to pay USD 50,000 and also need USD 100,000 of capital aside from client deposits.

Primus Forex Financial Group Review Conclusion

We advise all investors and traders to avoid Primus Forex Financial Group and other clone brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and BlackBull Markets.

Primus Forex Financial Group Update

Our findings showed that Primus Forex Financial Group is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is Bitex360 Scam or Legit Broker?

Bitex360 is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade with Bitex360. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise competitive trading conditions, yet there is no guarantee from the official entities that oversee the Forex industry. 

What is Bitex360?

Bitex360 is owned by Km Media Ltd. It is an offshore forex broker registered in the Marshall Islands with a Banking Commission of Marshall Islands license. The brokerage claims to be located in the UK (the website provides UK's phone number as their office number), but there are no records that it’s authorized in the UK.

• Dealing with a broker which has a Marshall Islands license is risky as it only takes USD 2,000 to get one. Comparing the license from the UK’s Financial Conduct Authority, which costs USD 50,000 and also needs USD 100,000 of capital for the STP license (Check out STP forex brokers) aside from client deposits. On the other hand, to obtain an Italian trading license with CONSOB, the company would need to have EUR 50,000 of corporate capital.

Bitex360 Review Conclusion 

We advise all investors and traders to avoid Bitex360 and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and BlackBull Markets.

Bitex360 Update

Our research showed that Bitex360 Website is inactive. It is unclear whether the broker has changed its name and operates another fraud Forex activity or is just gone. We recommend avoiding any proposals from Bitex360 and staying alert in case of any proposals. 

Is Swiss Assets FX Scam or Legit Broker?

Swiss Assets FX is a Non-Regulated Broker. It is NOT SAFE to trade with this company. While we checked the company, there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

What is Swiss Assets FX?

Swiss Assets FX states that it is a regulated investment services firm authorized in the conduct of its activities by the Swiss Securities and Exchange Commission (‘SFMSAS’) under license no. 092/08. However, there is no such entity as the Securities and Exchange Commission in Switzerland which means the company has been providing financial services without being authorized.

• The Swiss regulator who is responsible for providing licenses is FINMA. An entity should have 100 million CHF as net capital to apply for a forex trading license with FINMA and also should manage the business from an office in Switzerland.

Swiss Assets FX Review Conclusion

All investors and traders should avoid Swiss Assets FX and other brokers that operate without licenses. Traders should trade with tightly regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and Pepperstone.

Swiss Assets FX Update

Based on our research Swiss Assets FX Website is inactive. It is unclear whether the broker has changed its name and operates another fraud Forex activity or is just gone. As money safety goes first we recommend avoiding any proposals from Swiss Assets FX and staying alert in case of any proposals.