Archives: Brokers

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. 

Is InvestTeck Scam or Legit Broker?

It is not safe to trade with InvestTeck, because it is an unregulated broker. Besides, the company has been suspected to be a fraud. We checked the company and found that 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 InvestTeck?

 InvestTeck is owned by GreenRiver OU and claims to be located in Dublin, Ireland. According to the website, InvestTeck is a world-renowned financial services provider offering a range of investment products, including Online Trading and FX. However, the company doesn't provide any information about its regulation, and also the reputation of the owner-company is quite questionable. 

• As stated, InvestTeck is owned and operated by GreenRiver OU, with a registered address in Tallinn, Estonia. GreenRiver OU operates some other brokers that we have previously reviewed (GCC Investing, Jones Mutual) and has been blacklisted in Estonia by its local regulator Estonian Financial Supervisory Authority, and also banned in Australia by the Australian Securities and Investments Commission. Obviously, all the brokers associated with the GreenRiver OU should be avoided.
• We have heard brokers operated by GreenRiver OU deny traders withdrawing funds. We have feedback from traders that they cannot withdraw money. 

InvestTeck Review Conclusion

We advise all investors and traders to avoid InvestTeck 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 (Read FXTM Review and Alpari Review).

InvestTeck Update

Recently InvestTeck website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

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.