Archives: Brokers

Is TraderUR Investments Scam or Legit Broker?

No, TraderUR is not safe to trade with it. TraderUR is owned by TEChNORIC Ltd. which is an offshore company registered in St. Vincent and the Grenadines. TraderUR 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.

• St. Vincent and the Grenadines 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 Millennium FX, Brokerz, and more.

What is TraderUR?

According to the website, TraderUR is a member of the International Financial Commission (FinaCom), as they mention the registration number. Even though FinaCom is a well-respected organization, it is a self-regulatory organization that cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

• From our source, it costs €24,000 per year to become a member. However, and there is no handbook or guidelines for brokers to run their businesses. Therefore, there is zero protection for traders. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
• TraderUR offers Forex, Crypto, and CFDs trading. The company doesn't provide any information about its location, only the contact phone numbers which are German and Swedish. However, the broker is not authorized by local regulators in Germany and Sweden.

TraderUR Review Conclusion

We advise all investors and traders to avoid TraderUR and other brokers from St. Vincent and the Grenadines. In Forex trading finding a reliable and well-regulated broker is essential, not to risk your investments. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and BlackBull Markets. Also can check Exness Review.

TraderUR Update

Our research revealed that the TraderUR 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 MarketTM Scam or Legit Broker?

No, MarketTM broker is a Non-Regulated Broker. It is NOT SAFE to trade. We found that the company has no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

What is MarketTM?

MarketTM is a Forex broker operated by MarketTM Ltdl Islands. The company doesn't provide its address or the regulation details. On its website, it is only mentioned FT Global Services Ltd as the payment service provider, based in London, United Kingdom. Also, the terms and conditions of the firm state that it is under the jurisdiction of the Marshall Islands, but still no information about actual regulation.

• The broker is not registered in the UK and most probably not in the Marshall Islands. It is recommended to trade with brokers regulated by trustworthy agencies like UK’s FCA or Australia’s ASIC (Learn about ASIC Regulated Brokers). For example, the license from the UK’s Financial Conduct Authority costs USD 50,000 and also needs USD 100,000 of capital for the STP license aside from client deposits. The regulator also protects customers when authorized financial services firms fail.

MarketTM Review Conclusion

We advise opening a trading account only with brokers 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 HotForex and Eightcap.

MarketTM Update

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

Is Tradepro Capitals Scam or Legit Broker?

No, it is not safe to trade with Tradepro Capitals. Tradepro Capitals is owned by Tradepro Capital Markets Limited, which is an offshore company registered in St. Vincent and the Grenadine.

• St. Vincent and the Grenadines 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 CapitalXP, Welkron, and more.

What is Tradepro Capitals?

According to the Tradepro Capitals website, the broker is registered with the Financial Commission under the number 34452 IBC. Even though FinaCom is a well-respected organization, it is a self-regulatory organization that cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

• From our source, it costs €24,000 per year to become a member. However, there is no handbook or guidelines for brokers to run their businesses. Therefore, there is zero protection for traders. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
• Tradepro Capitals offers its clients a variety of products and trading options, including Forex, Commodities, Stocks, Indices, and Crypto. The broker claims to be located in London, UK. However, it is not licensed by the local regulator Financial Conduct Authority (FCA). In fact, the UK's FCA has recently issued a warning against Tradepro Capitals Limited:

Tradepro Capitals Review Conclusion

We advise all investors and traders to avoid Tradepro Capitals and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and BlackBull Markets. Also check the FXPRIMUS broker review.

Tradepro Capitals Update

Our research revealed that the Tradepro Capitals 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 BRFX Trade Scam or Legit Broker?

BRFX broker is a scam broker. It is NOT SAFE to trade with this company. 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 BRFX Trade?

BRFX Trade is owned by BR Consulting Group Ltd. It is an offshore Forex broker registered in St. Vincent and the Grenadines with a Financial Services Authority.

• It is risky to deal with offshore registration brokers as on average it takes $2000 to get the license. St Vincent Forex company formations usually take around one week. Also, the advantage is there's no Forex regulation in St Vincent. Comparing the license from the UK’s Financial Conduct Authority, the latter costs USD 50,000 and also needs USD 100,000 of capital for the STP license aside from client deposits.

Overall BRFX Ranking 

Our research results revealed multiple problems with the safety and regulations of BRFX, so we do not rank positively BRFX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• BRFX 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.

BRFX Alternative Brokers

Due to our negative finds on BRFX here we offer much better Alternatives to BRFX with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

• Blueberry Markets – Forex and CFD Trading with Low Fees
• Interactive Brokers – Good for Real Stock Trading
• Plus500 – Good for Futures Trading

Deposits and Withdrawals

BRFX offers funding through Local bank transfers and debit/credit cards.

• There are no additional charges for deposits. Funds are reflected in the account after the user’s account has been authorized. If the user fails to confirm that he or she is identified and authorized to use the payment method, BRFXtrade might reject and refund the payment.
• Traders can request a withdrawal during regular office hours. The payment will be processed within 7 (seven) business days, after which the payment will be made via the original payment method.

BRFX Trade Review Conclusion

We strongly advise opening a trading account only with brokers 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 Pepperstone and TMGM.

• Overall ranking and experience for BRFX is Negative

BRFX Update

As we discovered, the BRFX website is inactive, and the broker is no longer available. It is unclear whether the broker changed its name, or has just ceased operations. Since money safety goes first, we recommend avoiding any proposals from BRFX and staying alert in case of any proposals. 

Is 69Brokers Scam or Legit Broker?

No, it is not safe to trade with 69Brokers. The broker doesn’t provide any information about the company behind the brand’s name as well as any regulatory information. According to the provided information, the broker is located in London, however, it is not regulated by the local financial authority, which means the broker is unregulated and provides illegal services. 

What is 69Brokers?

69Brokers presents its users with the optimal platform for investing in Forex, Futures, and Commodities. The company's HQ is located in Matam, London, Sydney, Limassol, and Sofia. They also provide a British office address and British contact numbers, however, the broker does not carry a license from the British regulator - Financial Conduct Authority. It is not regulated by any other authority as well, which means the company has been targeting people without a legal right for that.

• In addition, the Swiss Financial Market Supervisory Authority (FINMA) has issued a warning against 69Brokers.
• We have also found out that 69Brokers have been known for withdrawal issues and downtime of their trading platform and website, which is actually full of spelling errors.

69Brokers Review Conclusion

We advise all investors and traders to avoid 69Brokers 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 BlackBull Markets and BDSwiss. See the Xtrade broker and FXPRIMUS broker Reviews.

69Brokers Update

Our research revealed that the 69Brokers 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.