Archives: Brokers

Is Aisa scam or safe Broker?

Aisa Forex broker is based offshore zone Broker, while the jurisdictions do not required to follow strict rules and are not overseen by any governmental agency, which significantly raises the risks for their clients as many of those offshore companies run investment scams. For this reason we mark Aisa as scam too. 

What is Aisa? 

Aisa is a forex and CFD broker. The trading name AISA, its logo, trademark and website www.aisafx.com is operated by Aisa International Group Ltd., incorporated in St. Vincent and the Grenadines as an International Business Company. 

In the case with Aisa, it doesn't seem too bad as according to the website AISA is a trading name of the Aisa Group comprised of Aisa International Group Ltd. (St. Vincent and the Grenadines) and Aisa International Group Pty Ltd (Australia). Aisa International Group Pty Ltd is actually regulated by Australian ASIC, however, the firm directly operating the Aisa brokerage is registered offshore.

Conclusion

Well respected financial authorities like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) are effectively enforcing strict financial and ethical rules on all overseen brokers. That’s why we recommend choosing among the brokers regulated with the mentioned authorities. Traders should trade with well-regulated brokers (Top 10 Forex Brokers in the World) such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and TMGM.

Aisa Updates

Due to our finding Aisa website is inactive, so it means Broker ceased its operation and no longer active. Yet, we advise to stay alert and better to avoid any offshore based companies due to their instability and potential fraud. 

Is FXBTG scam or a safe Broker? 

FXBTG claims to be located in Auckland, New Zealand, however, the company is not regulated to provide its services in the country. So we conclude it as not safe to trade. Moreover, the FXBTG broker has been blacklisted by The Central Bank of Ireland in October 2018:

"The Central Bank of Ireland today 8 October 2018 published the name of an unauthorized investment firm, FXBTG Financial Ltd (Ireland and New Zealand). FXBTG Financial Ltd (Ireland and New Zealand) is not authorised by the Central Bank as an investment firm, investment business firm, or to provide investment advice."

What is FXBTG?

FXBTG is a Forex broker, owned and operated by FXBTG Financial Limited. The company doesn't provide any information about the trading conditions, it doesn't even look like a trading platform, it just states to be a provider of trading instruments on the global financial markets include currencies, precious metals, crude oil and so on.

FXBTG Review Conclusion

Regulation is very important for the safety of the funds in the sector and well-established financial authorities like the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) to provide sufficient security to traders. Check the list of the ASIC-regulated brokers.

FXBTG Updates

As we found on our research FXBTG Website is inactive. It is unclear whether the broker change its name and operate another fraud Forex activity or just no longer active at all,  since money safety goes first we recommend to avoid any non regulated proposals.

Is TradeTime a scam or a legit broker?

TradeTime is not a secure broker because it is registered offshore and does not hold a proper Forex broker license. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

TradeTime is an offshore Forex broker owned and operated by Almandex Group LTD , based in St Vincent and the Grenadines. The registered address of the broker is also in St Vincent and the Grenadines, but they provide contact phjone numbers in UK, Australia, New Zealand, Spain, Sweden and France, which means they are targeting the residents of these countries without being regulated there.

The SVGFSA (Financial Services Authority of the St Vincent and the Grenadines) is famous for its low capital requirements – you can open a forex broker, by having only USD 2,000 in capital.

As a comparison the United Kingdom’s Financial Services Commission (FCA), demands a minimum of EUR 125,000 for STP license. Find the list of FCA regulated brokers here.

Conclusion 

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BlackBull Markets, FXGT, FBS (Read FBS Forex Review).

Yet, it is always great to hear your personal opinion about TradeTime. So you may share your experience or thoughts or discuss them below or ask us for additional information.

TradeTime Update

Based on our finding TradeTime website is inactive means broker is no longer operates, we recommend to avoid any proposal in case coming from TradeTime.

Is Sure Forex Trade Scam or Legit Broker?

No, it is not safe to trade with Sure Forex Trade. Sure Forex Trade is owned by Sure Forex Trade Limited and claims to be located in New York, USA. However, all brokers located in the USA should hold a license from NFA, which is not the case with Sure Forex Trade.

What is Sure Forex Trade?

Sure Forex Trade offers Contracts for Difference (CFDs) on 6 asset classes: Forex, Shares, Spot Indices, Futures, Spot Metals, and Spot Energies. The broker states to provide access to top-tier liquidity and advanced trade execution with no dealing desk intervention.

• According to the website, Sure Forex Trade is authorized and regulated by several regulators, including the UK's Financial Conduct Authority, Cyprus Securities and Exchange Commission, South African Financial Services Board, and Dubai Financial Services Authority. 

• However, we have checked the registers and it turned out the broker is making false claims about all the licenses, as we didn't find any mention of them. It is a popular practice among unregulated brokers that try to delude clients by providing false regulation details.

Sure Forex Trade Review Conclusion

We advise all investors and traders to avoid Sure Forex Trade 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 FXTM and Alpari.

Sure Forex Trade Update

Our research revealed that the Sure Forex Trade 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 CFreserve Scam or Legit Broker?

No, CFreserve is not safe to trade with because of its unregulated nature. CFreserve is owned by Richfield Limited and claims to be located in Dublin, Ireland. CFreserve doesn't provide any information about its regulation and doesn't seem to be authorized in Ireland by its local Central Bank of Ireland or any other EU authority. 

What is CFreserve?

According to the website, the broker gives an opportunity to trade over 72 asset classes from across the globe with instant, high-speed access to Forex, Metals, Commodities Gold, Silver, and CFDs through the unique trading platform. It also claims to be secure and reliable. However, in order to secure clients' funds, the company needs to be regulated.

• CFreserve does not provide any information on its website, which means that the broker does not hold a license from a top-tier authority. Trading with an unregulated broker might put your investments at risk, this it is much better to sign with a licensed and trustworthy broker with favorable trading conditions.
• We have also found a lot of negative reviews about CFreserve on the net. Deceived clients accuse the company of misleading ads, cheating, and refusing to withdraw the invested funds. 
• An important fact is that the broker was inactive for a while and stopped its services. FIn Forex this is a common phenomenon when brokers cease their offerings for a while and disappear and then appear again after a while. More often this is a usual tactic of scams. 

Overall CFreserve Ranking 

We found multiple regulation and safety issues with CFreserve, thus we do not rank positively CFreserve, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• CFreserve 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.

CFreserve Alternative Brokers

We revealed that CFreserve has a lot of issues, especially in respect of its safety and customer care. Thus, here are much better Alternatives to CFreserve with tight regulations and great trading 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

When opening an account with CFreserve the payment will be debited from the trader's credit card immediately.

• If traders decide against trading with the company it is possible to apply for a refund of the remaining balance.
• The approval for opening an account with the broker might take up to four business days. 
• Before requesting a withdrawal, traders should make sure that all requirements are met, such as account verification, the minimum trading of the bonus volume, sufficient usable margin, correct withdrawal method, etc.

CFreserve Review Conclusion

We advise all investors and traders to avoid CFreserve 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. Another important red flag is that the broker ceased int services for a while, and now it is back again. 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 HYCM and Alpari. 

• Overall ranking and experience for CFreserve is Negative