category: Unregulated Brokers

Is Everest International Scam or Legit Broker?

No, Everest International Group Ltd broker is Non-Regulated Broker. It is NOT SAFE to trade. 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 Everest International?

Everest International Group Ltd offers Forex and CFD trading and claims to be regulated in New Zealand. Their website says that the company is certified and regulated by FSP’s (Financial Service Providers) top financial regulator. Although they don't mention the name of the regulator, which supposed to be the Financial Markets Authority of New Zealand.

It is clear that the broker has no license to provide financial services in this country. In case of getting 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.

Everest International Review Conclusion

Investment through non-authorized firms involves significant risks of loss of capital, which is the case of Everest International too. For that reason, we advise all investors and traders to avoid Everest Trading Proposal 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 BlackBull Markets.

Everest International Group Ltd Update

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

Is EU-Capital Scam or Legit Broker?

EU-Capital is not a safe broker, as it is an offshore company (Find Reliable Forex Companies). EU-Capital is a brand owned and operated by Gelko Partners LTD. Gelko Partners LTD is located in the Republic of the Marshall Islands.

• In fact, the Marshall Islands is an offshore zone attracting various firms that for one reason or another escape from serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors’ investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

What is EU-Capital?

EU-Capital forex and CFD broker is owned by a Marshall Islands-based holding company called Gelko Partners LTD. Their registered office address is at the Trust company complex, Ajeltake Road, Ajeltake Islands, Majuro, Marshall Islands. The Marshall Islands is an offshore destination where usually brokerage services are not regulated. There is no information about an actual place of registration of the EU-Capital.

• Dealing with a broker which has a Marshall Islands license is risky as it only takes USD 2,000 to get one. Compared with the Financial Conduct Authority, the licenses cost USD 50,000 and also USD 100,000 of capital for the STP license (Find STP brokers' list here) aside from client deposits.

EU-Capital Review Conclusion

We strongly advise all investors and traders to avoid EU Capital 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 HotForex.

• Overall ranking and experience for EU Capital is Negative

EU-Capital Update

We found EU-Capital Website inactive. Since money safety in forex goes first we recommend avoiding any proposals from EU-Capital and staying alert in case of any proposals. 

Is Bristol Consulting FX Scam or Legit Broker?

Bristol Consulting FX broker is Non-Regulated and is not safe to trade with. 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 Bristol Consulting FX?

Bristol Consulting FX claims to be registered in Panama by the Securities Market of the Republic of Panama. Although this regulator has put the company on its blacklist for providing financial services in the country without being authorized there. So it's clear that the broker has no regulation and no legal right to offer Forex trading.

• Also, Bristol Consulting FX got into the Canadian OSC warning list for targeting Canadian clients without being licensed in the country. Some fraud companies use fake information about regulations to win customers' trust. In case Bristol Consulting FX would have to get a license from The Ontario Securities Commission in Canada, the fee would be around CAD 150,000.

Bristol Consulting FX Review Conclusion

We advise all investors and traders to avoid Bristol Consulting FX 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 Regulated Forex Brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and BDSwiss.

Bristol Consulting FX Update

Our findings showed that the Bristol Consulting 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 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.