Archives: Brokers

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

Is FX PREMIUM Scam or Legit broker?

No, it is not safe to trade with FX PREMIUM. FX PREMIUM is owned by FX PREMIUM Group Ltd. which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.

• 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 such as IC Finance, 70Trades, and more.
• Based on our research the broker is not regulated and has been misleading its clients with false regulatory information. Moreover, the Cyprus Securities and Exchange Commission has included FX PREMIUM in its warning list.

What is FX Premium? 

FX PREMIUM is a Forex and CFDs broker. According to the website, FX PREMIUM Group Ltd operates under strict European regulations, is regulated and licensed by CySEC (Cyprus), is MIFID II compliant, and is also registered with Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) (Germany) (Read BaFin regulated LegacyFX Review), the FCA (UK) and the ACPR (France). FX PREMIUM Group Ltd is also a member of the ICF (Investor Compensation Fund).

• However, the registration details provided by the broker belong to another regulated company that has no association with FX PREMIUM. 

FX Premium Review Conclusion

We advise all investors and traders to avoid FX PREMIUM and other brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM, Avatrade (Read about Avatrade by link).

FX PREMIUM UPDATE

Recently based on our research FX PREMIUM website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. So we would recommend avoiding and staying alert in case of any proposals.