Archives: Brokers

Is Point Investment Group Scam or Legit Broker?

It is not safe to trade with Point Investment Group, as the broker does not hold any license from a top-tier authority. In fact, the broker is registered in the Marshall Islands, which is a known offshore zone that enables any firm to register there, without the need of meeting guidelines and strict conditions. The registration fee is also very low, and obtaining it is not really difficult.

• It is a known fact that unregulated or offshore brokers are often scams, thus avoiding signing with them and finding a trustworthy broker is the only right decision while engaging in forex trading. 

What is Point Investment Group?

The Point Investment Group is a trading name used by Mountain High Ltd a trusted company established and registered in the Marshall Islands that proposes various trading opportunities on FX and CFD instruments. During the research, it was revealed that the firm connection and management is quite confusing since there are other company names appearing that include Bali Limites and Winmore Alliance. And this is already a tricky signal to us since the trustable company should have a clear structure with a transparent operation. What is more, those mentioned companies were previously detected in fraud performance and warned timely.

• Since the market offering is full of scams, any trader should strongly consider only regulated firms since they do implement international rules that show company reliability and stability. In order to prevent traders from investing in the highest-risk entities, the industry authorities regularly check and detect scams, adding them to the alert or blacklists. The Point Investment Group appeared in those listings too due to their target of clients without permission to do so, and apart from the numerous negative reviews from the traders.

“CNMV issues warning to the public on unregistered firm Bali limited ltd and Winmore Alliance is not authorized to provide the investment services, which include investment advice or to provide the auxiliary services”

CNMV, Spain. April 2018.

Point Investment Group Review Conclusion

We advise all investors and traders to avoid Point Investment Group and other unregulated and offshore brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.

Point Investment Group Update

We found the Point Investment Group website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come. 

Is TIXfx Scam or Legit Broker?

TIXfx is not a safe broker. We found the company is located in St. Vincent and the Grenadines, an offshore zone that does not implement the strictest rules for the company established. Therefore, it all looks like TIXfx is an offshore, non-regulated broker that misleads about its addresses and legislation, thus we do not advise trading with the broker.

What is TIXfx?

The company Jedi Marketing ltd that operates the TIXfx brand and tixfx.com domain globally except within the European Economic Area uses the TIXfx trading name. However, the company mentions its location of office address in London, UK while is not authorized by the local agency FCA (Financial Conduct Authority). Important to mention that to operate as a financial investment firm in the UK, an FCA license is a mandatory act, therefore any other firm is not legit.

• In addition to that, while researching the TIXfx brand, we found the company located in St. Vincent and the Grenadines, an offshore zone that does not implement the strictest rules for the company established. Therefore, it all looks like TIXfx is an offshore, non-regulated broker that misleads about its addresses and legislation, thus we do not advise trading with them.
• A general offering of the broker includes proposals to the retail and institutional traders while according to the abovementioned and as the firm does not comply with any regulation, there is no trust in how exactly the service will be delivered. This is the reason we advise choosing only Regulated Forex Brokers.
• Moreover, as a part of the investors warning the world industry authorities constantly check on the market offering while issuing warnings available to the public. Since TIXfx targets worldwide clients without its legal approval, the company appeared on various black lists even a few times, while partnering authorities followed the alert to warn the clients.

“The National Commission for Companies and the Stock Exchange (CONSOB) reports that the companies Tix Group Ltd and Jedi Marketing Ltd are not authorized to provide investment services and business in Italy in any way”

CONSOB, Italy. October, 2018

TIXfx  Review Conclusion

We advise all investors and traders to avoid TIXfx and other unregulated and offshore brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.

TIXfx Update

We found the TIXfx website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come. 

Is OptionExpert Scam or Legit Broker?

OptionExpert is not a safe broker. The broker is located in Cyprus, yet it is not regulated by the local regulatory body - CySEC, which means that the broker is not reliable and signing with it might be very dangerous. 

What is OptionExpert?

OptionExpert is a binary options trading platform (Read about Best Regulated Binary Options Brokers by link), offering a simple and intuitive way to earn money on the leading financial markets, as the broker claims on their website. The company office is located in Cyprus and its launch date goes back to 2015, also the firm mentions its local authority CySEC authorization and license that ensures the upholding of all laws governing Cyprus and the rest of the EU. There are other numerous claims describing that the broker is a Premium Quality, with the Limited Edition offering, and is a Perfect Choice.

• However, all that is very far from what reality shows. First of all, there is no license or regulation from the CySEC, there is no even history mentioning their suspended license. Therefore, it all shows that the company presents the data they want to show, but not the truth. Going even further, the company was warned by CySEC as their domain is not authorized to deliver the service. Check the listing at the official CySEC link.

OptionExpert Review Conclusion

In conclusion, of course, we advise avoiding OptionExpert and choosing only among the regulated brokers. The Regulated Forex Brokers are obliged to deliver not only the safest trading condition but to comply with international requirements. Traders should trade with well-regulated brokers such as UK brokers or brokers in Cyprus and reliable brokers such as FP Markets and BlackBull Markets.

OptionExpert Update

We found the OptionExpert website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come. 

Is Trade Fintech Scam or Legal Broker?

It is not safe to trade with Trade Fintech. It does not hold any top-tier license and is located in the Marshall Islands which is an offshore zone. Simply it means the broker is able to do business as they wish, and of course, this involves the highest risks even on losing funds.

What is Trade Fintech?

The Trade Fintech company is an online trading provider with advanced technologies and a range of trading assets through its declared offices in the Marshall Islands. Being located in the offshore zone first of all means that there is no serious operation license or international authority that regularly checks on the broker, as well the company does not maintain the necessary security of funds. 

• Since the trading among markets growing daily, the international authorities re-checking the proposals and other companies with the purpose to warn clients against risky investments. Therefore the Trade Fintech appeared in various alert lists due to their non-regulated nature, which includes European authorities like CNMV, CONSOB, FCA, and others. 

  “Trade Fintech firm has been providing financial services or products in the UK without our authorization. Based upon information we hold, we believe it is carrying on regulated activities which require authorization.”

  FCA, UK. September 2018.

Trade Fintech Review Conclusion

We, along with the reputable authorities strongly advise against responding to any offer of financial services made by non-regulated entities and Trade Fintech in particular and against transferring money to any account it might mention. In fact, there are plenty of regulated brokers that set trading conditions for very attractive offerings too while performing the utmost level of protection through various programs and compliance with rules. Therefore, we recommend choosing among the Best Forex Brokers from reputable jurisdictions like FCA-regulated brokers, CySEC brokers, or others.

Trade Fintech Update

Based on our research, the Trade Fintech 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 24tradeRush Scam or Legit Broker?

According to our research and our finds, 24TradeRush is not a secure broker because is based solely in an offshore zone and does not guarantee its trading environment. 

What is 24TradeRush?

24TradeRush is an innovative binary option and Forex trading platform provider owned and operated by B.O. Tradefinancials Ltd, a Cyprus Investment Firm located in the Republic of Cyprus, as stated on the official website. Broker’s trading platform offers a user-friendly trading experience and allows to follow rapidly shifting trends in the financial markets worldwide, to trade Forex/CFDs and Binary Options (Check Best Binary Options Brokers Reviews).

• Since the company is located in Cyprus, the Cyprus Securities and Exchange Commission granted B.O. Tradefinancials Ltd License and permits to provide the investment service within Cyprus and other cross-border counties in 2013, License Number 216/13. However, currently, the license is suspended by the company’s Voluntary renunciation, without its clear vision of taking action. (Check the status at the CySEC official website, by the link)

• Obviously, the company didn’t meet the regulatory requirements, as well received negative feedback from the clients about their performance of trading conditions, thus the license was gone. Yet, the 24TradeRush still offers its service, still states its regulatory obligations, and performs as if everything is legal and smooth. That’s why we always advise checking carefully the broker before any investment or deposit is done if the company still complies with the requirements or even if the regulatory state is true. The regulatory agencies publish information through their official web pages, that’s why every client can easily check the status and find vast of useful information.

24TradeRush Review Conclusion

As it became obvious, there is no trust in the 24TradeRush, due to their confusing statements and it is better to choose among regulated brokers either by the CySEC or any other respected authority. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.

24TradeRush Update

Based on our research, the 24TradeRush 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 OndaMarkets Scam or Legit Broker?

OndaMarkets is a Forex and CFDs broker owned and operated by OndaMarkets Ltd., a company registered in St. Vincent and the Grenadines. St. Vincent and the Grenadines is a popular destination for forex brokers, as it has low taxes policies and the business registration process is simple.

• Usually, such brokers are not regulated in any country and are suspected of fraudulent activities. Also, very often unregulated offshore brokers are banned by the authorities who try to protect investors from losing funds.

What is OndaMarkets?

OndaMarkets is a Forex and CFDs broker registered in St. Vincent and the Grenadines. It does not hold any serious license, thus, no wonder OndaMarkets was blacklisted by Spain's regulator CNMV (The National Securities Market Commission) in March 2018:
"ONDAMARKETS Ltd www.ondamarkets.com is not authorized to provide the investment services detailed in Article 140 of the Securities Markets Law, which includes investment advice, or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the said Law, including, for those purposes, foreign currency transactions."

OndaMarkets Review Conclusion

The first thing the potential investor should do when he is choosing a trading company is to determine if it is a legitimate broker or a scam broker.  Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.

OndaMarkets Update

We found the OndaMarkets website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come. 

Is FxtPremium Scam or Legit Broker?

It is not safe to trade with FxtPremium. The broker does not hold any serious regulations. It positions itself as a trustworthy broker, stating on its website the fact of being located in Germany. However, there is no mention of German regulation. Instead, it seems the broker is registered in Vanuatu. 

• Vanuatu is an offshore zone and does not oversee the activities of the firms regulated there. There are no certain guidelines and conditions to follow, thus, companies registered in Vanuatu can operate their business however they wish, putting their clients' investments at risk. 

What is FxtPremium?

FxtPremium is a broker that offers to trade with various assets including Forex, commodities, precious metals, indices, cryptocurrencies, and CFDs. The company doesn't disclose any information about its location as well as its regulation. The only contact info that can be found on the website is a German phone number. If the broker wants the traders to think it is located in Germany, it is supposed to be regulated by The Federal Financial Supervisory Authority, although the entity doesn't seem to be regulated by any authority.

• In addition, the terms and conditions on the website state that FxtPremium is governed by the laws of Vanuatu - a popular offshore zone for the forex broker. Probably the firm was trying to hide the fact with the offshore registration as most of the brokers registered there turn out to be scams. It is highly recommended to avoid offshore unregulated brokers such as FxtPremium.
• Moreover, Italy's regulator CONSOB has issued a warning against the broker stating that:
  "The National Commission for Companies and the Stock Exchange has ordered the following company to cease the infringement of art. 18 of the same Decree consisting of the provision of unauthorized investment services and activities to the Italian public: Fxtpremium through the website www.fxtpremium.com"

FxtPremium Review Conclusion

Investing with a properly regulated broker is crucial for the safety of any investment. Here are some reliable regulators: UK’s FCA, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). These are well-respected institutions that enforce strict regulatory standards upon all brokers in their jurisdictions. Traders should trade with well-regulated brokers such as FP Markets and BlackBull Markets.

FxtPremium Update

We found the FxtPremium website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come. 

Is Inmarket FX Scam or Legit Broker?

Inmarket FX is a Forex broker, owned and operated by Integrated Markets LLC. The company is based and registered in Vanuatu, one of the popular offshore destinations where the brokers get their forex licenses. It is quite risky to trade with these firms. Usually, the companies that operate in offshore areas (such as the Republic of Vanuatu) are not licensed nor regulated and are considered to be frauds.

What is Inmarket FX?

Inmarket FX is a Forex broker offering access to multiple markets. However, the broker does not hold a serious license. It is an offshore broker registered in Vanuatu.

• Besides, the website supports only Spanish which means it has been targeting Spanish residents. As proof, there is a warning against Inmarket FX from Spain's regulator issued in October 2017:
  "INTEGRATED MARKETS LLC www.inmarketfx.com is not authorized to provide the investment services detailed in Article 140 of the Securities Markets Law, which includes investment advice or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the said Law, including, for those purposes, foreign currency transactions."

Inmarket FX Review Conclusion

We always encourage traders to deal only with regulated brokers, as those operating without a proper forex broker license are most often frauds. Besides, when investing with a licensed broker, traders are guaranteed to get protection from the funds. For example, the UK regulator FCA provides a Financial Services Compensation Scheme. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.

Inmarket FX Update

We found the Inmarket FX website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come. 

Is TeamFX Scam or Legit Broker?

No, TeamFX is not safe to trade with. Obviously, the broker is located in some offshore zone and presents itself as a legal financial service entity. This, of course, puts a red flag on the TeamFX company, as most probably it is just another scam or fraud firm that targets worldwide traders with its aggressive marketing tactics.

What is TeamFX?

TeamFX is an online trading provider with access to various assets including Forex and CFD trading. The firm offers an easy trading experience with the support of educational materials, courses, daily insights, analysis groups, and other additional services that are designed for the trader to succeed, as claimed by the broker.

• However, the broker's reliability should be confirmed by the legal sources and other data that secure traders from the investment with the fraud company, which gives many promises. While it seems that TeamFX is a new player among vast of trading offering since simply there is a lack of information about the company, nor reviews from the traders or even clear info about the company location. The domain address of the website is located in the UK, while the firm misleads about the real fact of their registration. After the research, we found that the broker is nor registered in the UK or regulated by the mandatory licensor and regulator of the financial investment firms in the UK, FCA (Financial Conduct Authority).

Overall TeamFX Ranking 

With our finds and issues with the regulations and safety of TeamFX, we do not rank positively TeamFX, within our Expert Opinion and over 10 Years of experience in Forex Trading since there are brokers with much better safety and trading conditions.

• TeamFX 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.

TeamFX Alternative Brokers

With our finds and issues with the safety of TeamFX, there are much better Alternatives to TeamFX Broker with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

• Dukascopy – Excellent for Shares, Futures Trading
• AvaTrade – Good Instrument and CopyTrading
• FXTM – Good for Beginners

TeamFX Education

Since 2018 TeamFX has been providing its services, educational courses, and products to beginner traders around the UK. They specialize in training complete beginners and converting them into independent traders. We offer a variety of online and in-person courses as well as subscriptions to access their trading and discussion channels.

Here are the main programs they offer:

• FX Analysis & Discussion Group
• Beginner to Independent Trading Course
• 1-1 Sessions & Group Courses

TeamFX Review Conclusion

We always advise trading with regulated brokers only, as the legal status of the company, the service it offers, and further reliable trading environment should stay the paramount priority of any trader. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.

• The overall ranking and trading experience for TeamFX is Negative