Archives: Brokers

Is Admiral-Markets Scam or Legit Broker?

Admiral-Markets broker is a non-regulated Broker. It is NOT SAFE to trade with this company. We have checked the company and 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.

• Admiral-Markets is a company that claims its leading passions and the best way to access the global financial markets, trading and speculation on cryptocurrencies in particular. The broker, however, does not mention its registration address, or any regulatory status, or even provide legal data.

What is Admiral-Markets?

Admiral-Markets is a quite big trading name, known in markets and the trading industry, which in fact has nothing to do with a current website and offering. Actually, this is a typical tactic of the fraudulent company to take over a reputable name from a regulated and well-established broker, in return to mislead traders and attract possible investors. Specifically, Admiral-Markets.com misrepresent the truly regulated by the Financial Conduct Authority Admiral Market broker (check out reviews about Admiral Markets by the link).

• In addition, it has come to the attention of France's authority AMF that the broker offers the unsolicited trading capability to residents. An unregulated firm means that there is no adherence to requirements and laws, as well as non-compliance to basic investor protection rules, handling, and other obligations. Therefore, we always recommend choosing among the industry-leading and well-regulated Forex brokers to ensure a further positive experience while trading.

“The AMF regularly publishes the list of websites and entities offering in France, without having the right, investments in the foreign exchange market (Forex) and included admiral-market.com. Since the intermediary concerned does not appear on a register in the context of Forex or does not have a registration number for investment, do not respond to his solicitations. You would take the risk of choosing an intermediary who does not respect the basic rules of protection and good information of investors.”

AMF, France. November 2018.  

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

Admiral-Markets Review Conclusion

We advise all investors and traders to avoid Admiral-Markets 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 such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.

Admiral-Markets Update

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

Is 4xCube Scam or Legit Broker?

4xCube is not a legit broker as it does not hold any serious license. As a general rule, we recommend avoiding offshore and non-regulated entities as traders who invest in non-regulated firms often cannot recover funds invested or gains received. 

What is 4xCube?

4xCube is a CFD and Forex broker that states their 20-year experience across different markets and clear, true STP/ ECN trading environment, which is accessible through unparalleled safety of trading accounts. The given information about the broker’s registration is rather unclear and confusing than confirming an authorized service delivery, despite the fact that the firm established this year in 2018. The company behind the 4xCube brand is registered in the UK, while the leads going to the Cook Islands also with its claimed registered license.

• However, in fact, the Cook Islands license from FSC (Financial Supervisory Commission) is an offshore one and is a very small Island, not a reputable financial location with the strictest investment firm established standards. Your investment and trading itself might be at risk due to the fact the broker holds an only offshore license and not any other compared to financial service licenses like UK’s DCA or Australian ASIC. Simply offshore firm means there is no strict and high check on the firm's operation before its establishment or along the operating process. The offshore authority does not require high professionalism or follow of customer protection, therefore most often offshore brokers deliver service as they wish. For that reason, it is the highest-risk investment, as the trader never knows what to expect.

Overall 4xCube Ranking 

Regarding our finds and issues with regulations and safety of 4xCube, we do not rank positively 4xCube, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• 4xCube 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.

4xCube Alternative Brokers

Based on the issues we revealed regarding the safety of 4xCube here are much better Alternatives to 4xCube with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• FP Markets – Powerful trading technology and ECN environment
• InteractiveBrokers – Good for Trading Real Stocks
• XM – Wide Range of Trading Opportunities

Deposits and Withdrawals

The broker offers various deposit and withdrawal options – Bank Transfer, Credit/Debit Card, and e-wallets such as Skrill, Neteller, Perfect Money, Sticpay, etc.

• Deposits and withdrawals may be made 24 /7. When a deposit or withdrawal is not carried out instantly, it will be completed within 24 hours.
• The company will not accept direct payments or payments to third parties.
• Withdrawals are limited to one per day per account.
• Withdrawals processed within 48h after the deposit, will be debited by the full amount of deposit charges incurred by 4XC.

4xCube Review Conclusion

Unfortunately, we can’t recommend 4xCube due to the lack of serious regulation, as long as safety measures always go first in trading. We advise choosing among the Regulated brokers from the resected and reputable entities that prove their status with the constant check on the operation by the industry authorities, such as BlackBull Markets, Dukascopy, and FBS.

• Overall ranking and experience for 4xCube is Negative

Is Evolution Brokers Scam or Legit Broker?

No, it is not safe to trade with Evolution Brokers. Evolution Brokers is owned by Maximus Global Marketing LTD, which is an offshore company licensed in St. Vincent and the Grenadines.

• St. Vincent and the Grenadines 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 Capital TradeFX, JustForex, and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

What is Evolution Brokers?

Evolution Brokers is a Forex and CFD trading provider that claims the lowest spreads (See the List of Low Spread Brokers) in an industry that maximizes the profit through its established ECN/ STP execution and secure accounts.

• Moreover, the Evolution Broker states its negative balance protection and implementation of the highest level risk management tools, while all client funds are kept in segregated fund accounts.
• The main concern is the states that seemed to be very professional and actually necessary for a reputable broker, are not confirmed by any of the authorities. As the Evolution Brokers are located in an offshore zone, in St. Vincent and the Grenadine, and didn’t bother to obtain a license that will ensure customer protection, all the above said is not guaranteed.
• The mission of industry authorities is to regulate numerous financial investment firms, and report every move and statement they claim along to the protection of the client’s interest in every step.
• In regards to Evolution Brokers, the offerings are quite standard, while the firm is not among the recommended brokers that may involve clients in potential fraudulent investments. In addition, there are numerous complaints revealed by the traders engaged with Evolution Brokers, as well as a warning notification from FINACOM.

“The warning list is to inform the public of companies, including Evolution Brokers, that we do not recommend to trade with, following numerous reports and complaints filed by customers regarding non-member firms concerning fraud or wrongdoing.”

FINACOM. June 2018.

Evolution Brokers Review Conclusion

We advise all investors and traders to avoid Evolution Brokers and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and FP Markets.

Evolution Brokers Update

Our research revealed that the Evolution Brokers website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.