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. 

Is S&P Broker Scam or Legit Broker?

No, S&P Broker is not safe to trade with because of its unregulated nature. The broker doesn’t provide any information about the company behind the brand’s name as well as any regulatory information. It claims to be located in Luxemburg.

What is S&P Broker?

According to the website, S&P Broker enables quick direct access to trading in stocks, CFDs, indices, and cryptocurrencies. Despite its Luxemburg address, the broker provides the contact phone number with the British country code. However, the company doesn't seem to be regulated by the UK's Financial Conduct Authority or any other regulator. 

• Moreover, S&P Broker has been brokers blacklisted by Luxembourg regulator CSSF:

  "The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named S&P Broker (website: https://snpbroker.io), which claims to be established at 2 rue Edward Steichen, 2540 Luxembourg. The CSSF informs the public that S&P Broker is unknown to it and that the entity has not been granted any authorization to provide investment services or other financial services in or from Luxembourg."

• We have also found numerous negative reviews about the broker, where people state the employees of the company "will take your money and hang up", which means they all have been scammed and lost a lot of money with S&P Broker. 

S&P Broker Review Conclusion

We advise all investors and traders to avoid S&P Broker 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.

S&P Broker Update

Recently S&P Broker 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 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.