Archives: Brokers

Is Concept4X Scam or Legit Broker?

No, it is not safe to trade with Concept4X as it is not regulated. Concept4X is owned by AllGreen Capital Ltd., which is an offshore company registered in Dominica (Read Dominica registered TradersWay Review).

• Dominica is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Global Clearing Group, TradeToro, and more.

What is Concept4X?

Concept4X claims to be one of the world’s fastest-growing and best Forex trading platforms. With a fast learning curve, user-friendly interface, and excellent customer support, Concept4X offers its traders the best and ultimate online trading experience on the internet. The company was established as a new way for Forex traders to easily invest on a platform that is easy to use and easy to understand. They also develop advanced Forex strategies that guide traders in trading in stock markets.

• The company is located in a known offshore zone, which does not require minimum capital requirements that shows company sustainability, as well as does not regulate Forex businesses yet. Therefore, that means that the company operates on its own risk and management style while the client may face some manipulations or will not be compensated by any international organization in case of insolvency.

• According to the website, the broker has three different offices in three different locations, Wenlock (London), Dominica, and recently Cyprus. They also provide Cyprus contact number. However, there is no information about Concept4X regulation with the Cyprus regulator as well as UK’s FCA. 

• The broker is not regulated and has been misleading its clients with false information. Moreover, the Cyprus Securities and Exchange Commission has included Concept4X in its warning list:

“The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform investors that the following websites do not belong to an entity which has been granted authorization for the provision of investment services and/or the performance of investment activities.”

Concept4X Review Conclusion

We advise all investors and traders to avoid Concept4X and other brokers from Dominica. They do not hold any serious licenses and might often be spam brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM.

Concept4X Update

Recently the Concept4X website remains inactive, meaning the broker has muted 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 AVA Investments a scam or a legit broker?

Bauman LTD has been suspected as a scam broker. It operates under the brand name AVA Investments is a brokerage firm that provides online currencies and CFDs trading services. The company is registered in the Marshall Islands, an offshore zone, and does not hold any authorization or license to perform financial services. Even though it is mentioned about many jurisdictions that are restricted to open a trading account with AVA Investments.

AVA Investments is a Forex broker registered offshore. It is owned and operated by Bauman LTD, located in Trust company complex, Ajeltake road, Ajeltake Islands, Majuro, Marshall Islands MH96960.

The company is not registered to offer its financial services in UK, although they provide UK contact number, which means they are actually targeting UK residents illegally.

AVA Investments has been also blacklisted by Italian regulator CONSOB. We advise to deal only with the regulate brokers. Established financial authorities such as the Financial Conduct Authority (FCA) in the UK or the the Australian Securities and Investment Commission (Read about ASIC Regulated Global Prime Forex) apply strict rules for all brokers under their jurisdiction.

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 BDSwiss and BlackBull Markets.

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

Is Xinghui International Scam or Legit Broker?

Xinghui International is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes. This results in a very high-risk trading opportunity, despite its alluring proposal.

What is Xinghui International?

Xinghui International offers Forex and CFD trading. The company is located in Hong Kong and operated by Xinghui International Development Co., Ltd. Despite its Hong Kong location, the company was blacklisted by the Securities and Futures Commission of Hong Kong (SFC).

• Also, they claim to be regulated by the National Futures Association in the US, but there are no records about it on the regulator's website. We recommend you trade only with regulated brokers.
• The most reliable regulators are FCA in the UK, ASIC (Learn about ASIC Regulated Global Prime Broker) in Australia, and FMA in New Zealand. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license.

Xinghui International Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have 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 BDSwiss and BlackBull Markets.

Xinghui International Update

We found that the Xinghui International website is inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.

Is TradesPrime Scam or Legit Broker?

TradesPrime is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade with TradesPrime. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable.

• The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement in trading with such a company means the trader will believe only in the broker’s words, and of course, it is a high risk.

What is TradesPrime?

TradesPrime is a Forex company registered offshore in the Marshall Islands. It is operated by Black Parrot Limited. The Marshall Islands is a popular offshore destination for Forex brokers, as it offers a variety of tax benefits (no income tax, no capital gains tax nor inheritance tax), the registration process is fast and low cost, and capital requirements are also very low, amounting to USD 2000.

• Altough the company is not licensed in Spain, it was targeting Spanish residents and got blacklisted by the Spanish regulator CNMV (The National Securities Market Commission).
• It is recommended to trade with brokers regulated by UK’s FCA or Australia’s ASIC (Check out ASIC regulated Global Prime Review) instead. For example, the license from UK’s Financial Conduct Authority, requires EUR 125,000 of capital for the STP license aside from client deposits.

Overall TradesPrime Ranking 

With our revelations on regulations and safety issues of TradesPrime, we do not rank positively TradesPrime, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• TradesPrime 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.

TradesPrime Alternative Brokers

As our research revealed safety issues with TradesPrime, here we offer much better Alternatives to TradesPrime with good regulations and great trading conditions. We select Good Brokers and trustworthy options for your comparison below: 

• Pepperstone – Best Broker for Low Minimum Deposit
• Interactive Brokers – Good for Real Stock Trading
• Plus500 – Good for Futures Trading

Deposits and Withdrawals

TradesPrime enables the traders to make deposits via debit card, wire transfer, eCheck or check.

• The broker does not provide any information on the withdrawal process. 

TradesPrime Review 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 Eightcap and BlackBull Markets.

• Overall ranking and experience for TradesPrime is Negative

Is Stern Markets Scam or Legit Broker?

Stern Markets is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes. This results in a very high-risk trading opportunity, despite its alluring proposal.

• Stern Markets is a Forex and CFD broker owned and operated by GUM Ltd., based in the Marshall Islands. This company is also provides payment clearing and billing services for Stern Markets.

What is Stern Markets?

Stern Markets positions itself as a good broker with favorable conditions. The broker is also known as Stern Options. However, the broker does not hold any serious regulations, which means that it is not safe to sign in with the broker and make investments. It is not a secret that in Forex trading money safety is essential.

• On its website, the broker provides British, German, and Austrian phone numbers, which means the broker has been targeting EU residents without being authorized in those countries.
• Yet, the head office of the company is in Bulgaria. Moreover, the German Federal Financial Supervisory Authority has issued a warning against Stern Markets and GUM Ltd.

Stern Markets Review Conclusion

It is safer to trade with brokers regulated by UK’s FCA or Australia’s ASIC (Read about ASIC-regulated Global Prime) instead. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits. Check the list of FCA-regulated brokers here. We strongly recommend trusting your investments only with trustworthy brokers, such as HotForex, and BlackBull Markets.

Stern Markets Update

We found that the Stern Markets website is inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.

Is FXC Markets Scam or Legit Broker?

BT Systems LTD has been suspected as a scam broker. It operates under the brand name FXC Markets - a brokerage firm that provides online currencies and CFDs trading services. The company is registered in the Marshall Islands, an offshore zone, and does not hold any authorization or license to perform financial services. Many jurisdictions are restricted to open a trading account with FXC Markets.

What is FXC Markets?

FXC Markets is a Forex and CFD brokerage owned and operated by BT Systems LTD, registered in the Marshall Islands. The Marshall Islands is an offshore destination where brokerage services are usually not regulated.

• The company doesn't provide much information, only two contact numbers - British and Spanish. Usually, this means the brokers that are not regulated in Europe are targeting EU residents.
• In the case with FXC Markets, it is not under the oversight of the UK's financial regulator - the Financial Conduct Authority (FCA) nor Spain's National Securities Market Commission (CNMV).
• Moreover, the broker was blacklisted by the Italian CONSOB. It is safer to trade with brokers regulated by UK’s FCA or Australia’s ASIC instead. For example, the license from the UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits. Check the list of the FCA-regulated brokers here.

FXC Markets Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by 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 and Pepperstone.

FXC Markets Update

Our research showed that FXC Markets is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is Capital Markets Banc CMB Scam or Legit Broker?

It is not safe to trade with Capital Markets Banc CMB, because it is an unregulated broker. In addition, the company has been suspected to be a fraud. 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 Capital Markets Banc CMB?

Capital Markets Banc CMB claims to be a leading provider of online trading services with access to a world-class trading experience in its presence in over 160 countries worldwide. CMB is located in Dominica (Check out another Dominica-located broker TradersWay Reviews), known as offshore heaven, and operates without any license, as well allows clients to open accounts from all over the world to trade over 175 products ranging from currencies, commodities, and metals, to options, using a desktop, tablet or smartphone devices. CMB provides its traders with personalized FX training programs, Dealing Room Specialists, rewarding Introducing Broker Programs, and innovative and competitive Partner Offerings.

• The broker's offerings might seem competitive and attractive, however, the company does not hold any registration with appropriate authorities, therefore doesn't make an effort to protect its clients.
• The company is targeting clients from almost every region, which is confirmed by its range of supported languages and client services.
• As the Broker is located in an offshore area, it is extremely risky to put funds with an unregulated broker since there is no ensured safe trading environment and capital requirements.
• Moreover, several regulators have already issued warnings against the company in order to rest assured the potential investors from the fraud from the unauthorized brokers that target traders.

“This firm is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization.” FCA, UK

Capital Markets Banc CMB Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have 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 and BDSwiss.

Capital Markets Banc CMB Update

Our research showed that the Capital Markets Banc CMB Website is inactive. Since money safety in forex goes first we recommend avoiding any proposals from Capital Markets Banc CMB and staying alert. 

Is InvestMib Scam or Legit Broker?

InvestMib is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade InvestMib. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable.

• The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement in trading with such a company means the trader will believe only in the broker’s words, and of course, it is a high risk.

What is InvestMib?

InvestMib is a Forex and CFD broker, owned and operated by the InvestMib Limited. The company claims to be based in Belfast, UK. Although, the firm is not licensed by UK’s FCA or another European regulator.

• Instead, it is registered offshore in Vanuatu, according to the terms and conditions on the website. Dealing with a broker which has a Vanuatu license is risky as it only takes USD 2,000 to get one. Comparing an STP license from the UK’s Financial Conduct Authority, that requires EUR 125,000 of capital aside from client deposits.
• 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, trader guaranteed to get a protection of the funds. For example, UK regulator FCA provides a Financial Services Compensation Scheme. Check the FCA-licensed brokers here.

InvestMib Review 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 and Pepperstone.

InvestMib Update

Our research showed that InvestMib is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

Is GFBroker Scam or Legit Broker?

GFBroker is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade GFBroker. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable.

• The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement in trading with such a company means the trader will believe only on the broker’s words, and of course, it is a high risk.

What is GFBroker?

GFBroker is a Forex and CFD broker that offers a variety of assets on its platform gfbroker.com.

The company is managed and operated by International WEB Brokers Limited, regulated under Dealers in Securities Act by VFSC (Vanuatu Financial Services Commission) in Vanuatu.

• Vanuatu is a popular destination for forex brokers, as it has low taxes policies and the business registration process is simple. Also, the company was banned by Spain's regulator CNMV.
• We recommend traders to avoid offshore-registered brokers as there are a lot of scams among them. It is safer to deal with the brokers, authorized and regulated by reliable regulators, such as UK’s Financial Conduct Authority (FCA), and to check the list of the FCA-regulated entities to ensure they are.

GFBroker Review 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 and BDSwiss.

GFBroker Review Update

Our research showed that GFBroker is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.