Archives: Brokers

Is Bristol Consulting FX Scam or Legit Broker?

Bristol Consulting FX broker is Non-Regulated and is not safe to trade with. 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 Bristol Consulting FX?

Bristol Consulting FX claims to be registered in Panama by the Securities Market of the Republic of Panama. Although this regulator has put the company on its blacklist for providing financial services in the country without being authorized there. So it's clear that the broker has no regulation and no legal right to offer Forex trading.

• Also, Bristol Consulting FX got into the Canadian OSC warning list for targeting Canadian clients without being licensed in the country. Some fraud companies use fake information about regulations to win customers' trust. In case Bristol Consulting FX would have to get a license from The Ontario Securities Commission in Canada, the fee would be around CAD 150,000.

Bristol Consulting FX Review Conclusion

We advise all investors and traders to avoid Bristol Consulting FX 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 Regulated Forex Brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and BDSwiss.

Bristol Consulting FX Update

Our findings showed that the Bristol Consulting FX website is no longer active. 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 WDC Markets Scam or Legit Broker?

No, it is not safe to trade with WDC Markets as it is not regulated. WDC Markets is owned by FTG Solutions LTD (Registered number: 1994899), First Floor, Mandar House, Johnson's Ghut, P.O. Box 3257, Road Town, Tortola, British Virgin Islands and operated from Tornimae 5, Tallinn, 10145, Estonia.

• The BVI FSC is known for its light-touch regulation and very loose requirements that brokers do not try to comply with. Although the firm is licensed, BVI regulation is not enough to provide financial services in, for example, the UK.

What is WDC Markets?

WDC Markets claims to be a leader in financial markets brokerage including Forex, CFDs, and Indices. The broker provides its clients with a wide variety of markets and instruments, as well as a range of expert services, resources, and advice.

• However, we couldn’t find any information about this broker in the register of the Estonian Financial Supervision and Resolution Authority, which only proves that WDC Markets lacks regulation.
• Moreover, the broker has been blacklisted by two regulators. 

New Zealand, FMA:

“We are concerned that WDC Markets and the website https://wdcmarkets.com are withholding client funds and may be operating a scam. WDC Markets is not a registered financial service provider and is unable to offer financial services/products to New Zealand residents. As such, we recommend exercising caution when dealing with this entity.”

Spain, CNMV:

“WDC Markets is not authorized to provide the investment services, which include investment advice, nor to provide the auxiliary in relation to the financial instruments, including, for those purposes, foreign currency transactions.”

• The pages and official sources of the international regulators’ list alert are shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As WDC Markets got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authorities.

WDC Markets Review Conclusion

We advise all investors and traders to avoid WDC Markets and other unregulated brokers (Check out Fake Forex Brokers List in Nigeria). 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.com.

WDC Markets Update

Based on our findings, the WDC Markets 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 MarketGBP Scam or Legit Broker?

No, MarketGBP is not a secure broker and it is not safe to trade with this company. MarketGBP is owned by Silver Wolf Ltd., which is an offshore company registered in the Marshall Islands.

• The Marshall Islands 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 Dax300, Finbitex, and more.

What is MarketGBP?

MarketGBP offers Forex, Indices, Commodities, and Precious Metals trading. The broker doesn't provide any information about its offices or its regulation. They provide a UK phone number as a contact number, however, the company is not regulated by the UK's Financial Conduct Authority. Most probably, MarketGBP has been targeting British residents and as a result, has gotten on FCA's warning list in January 2019:

"MarketGBP 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."

• Also, Italy's regulator CONSOB warned the Italian public against MarketGBP:

  "The National Commission for Companies and the Stock Exchange has ordered the following company (MarketGBP) to cease infringement consisting of the offer and performance of investment services and activities to the Italian public."

• In addition, we have previously reviewed companies (FXtrade777, TradeBNP) affiliated with Silver Wolf Limited that have been warned against by several regulators, which doesn’t look trustworthy at all.

MarketGBP Review Conclusion

We strongly advise all investors and traders to avoid MarketGBP 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(Forex Brokers List) such as Pepperstone and BDSwiss.

MarketGBP Update

Our findings showed that the MarketGBP website is no longer active. 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 Tradeu2 Scam or Legit Broker?

Tradeu2 broker is a 100% fraud company. It is NOT SAFE to trade with this firm. 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 Tradeu2?

Tradeu2 is owned by SUN CAPITAL LIMITED. It is an offshore forex broker registered in St. Vincent and the Grenadines with Financial Services. On the website of the Tradeu2 broker, there are also three other offices mentioned: in Italy, Germany, and Switzerland, although the broker is not registered in those countries to provide its financial products and services.

• In case Tradeu2 would have to get a license from Germany's Federal Financial Supervisory Authority, the initial capital required is at least EUR 730,000, and a minimum capital of at least EUR 50,000.

Tradeu2 Review Conclusion

We advise choosing only Regulated Brokers to invest with. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and BDSwiss.

Tradeu2 Update

Our findings showed that the Tradeu2 website is no longer active. 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 Swissquotes Scam or Legit Broker?

It is not safe to trade with a Forex broker Swissquotes, as it is an unregulated clone firm. 

• According to the website, the broker is owned and operated by MIG Capital LTD. It claims to have offices in London, United Kingdom, Zurich, Switzerland, and Frankfurt am Main, Germany. Also, the terms and conditions state that the company operates under the Swissquotes brand according to the United Kingdom, Switzerland, German laws.

What is Swissquotes?

According to the broker's website, Swissquotes is an established forex broker that is focused on offering outstanding client services and personalized account management accompanied by the most advanced technology in the industry. Swissquotes’s international reputation comes from its devoted service, technology, and client focus. However, after completing some research, the broker's reputation seems quite questionable.

• It turned out that Swissquotes is not regulated in any of these countries and is not mentioned in the registers of the local regulators. Moreover, the broker has been blacklisted by the UK’s Financial Conduct Authority for being a clone firm of the FCA-regulated entity Swissquote Ltd. and has been using the name of this entity to delude potential clients. 

  “Swissquotes Ltd (Clone of FCA authorized firm). Almost all firms and individuals carrying out financial services activities in the UK have to be authorized or registered by us. This firm is not authorized or registered by us but has been targeting people in the UK, claiming to be an authorized firm.”

• Clone firms use some or all of the details of a genuine entity, aiming to convince investors they are indeed the authorized company or that they work with them. Fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold-called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorized firm, or other details. Such companies should be avoided at all costs.

Swissquotes Review Conclusion

We advise all investors and traders to avoid Swissquotes and other scam brokers. The lack of information (or false information) about the broker’s regulation, 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 Cyprus and reliable brokers such as FP Markets and Alpari.

Swissquotes Update

Recently the Swissquotes 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 FxFixed Scam or Legit Broker?

No, it is not safe to trade with FxFixed as it is not regulated. The broker is owned and operated by Unigreen Korlatolt Felelossegu Tarsasag, and located in Budapest, Hungary. However, we didn’t find any mentions about this broker in the register of the Hungarian regulator as well as some other major regulators’ registers. 

• FxFixed does not provide any regulatory information, nor contact details. That’s when it comes to transparency. Regulated companies keep all the information open to their clients as it is required by the law. Obviously, FxFixed has no regulation and no authority to report to.  

What is FxFixed?

FxFixed provides the option to trade 200+ markets including the biggest cryptos. Its clients have an opportunity to trade highly liquid assets with very low spreads and 1:500 leverage (Low Spread Forex Brokers). According to the website, FxFixed guarantees 100% protection and security of funds and investments through professionally managed network data centers with fully redundant server arrays and internet connections, as well as complete transparency. With a lack of a lot of information, it actually seems like the broker is not that reliable and transparent.

• Also, the awards mentioned on the website are fake as there are no such nominations and this broker was never nominated for any Forex award.

• In addition, FxFixed has been blacklisted by the Spanish regulator CNMV:

  “FxFixed is not authorized to provide the investment services, which include investment advice, nor to provide the auxiliary in relation to the financial instruments, including, for those purposes, foreign currency transactions.”

• The pages and official sources of the international regulators' list alert are shared with the authority directly or by other countries' supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As FxFixed got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.

FxFixed Review Conclusion

We advise all investors and traders to avoid FxFixed and other unregulated brokers (Check our Fake Forex Brokers List). The lack of information about the broker’s regulation, 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.

FxFixed Update

Recently the FxFixed 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 Meta Investing Scam or Legit Broker?

No, it is not safe to trade with Meta Investing. Meta Investing is owned by B.M.O. LTD., which is an offshore company registered in the Marshall Islands.

• The Marshall Islands is notorious for its practically absent requirements and regulations. The setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as GoldmanCFD, Capital88, and more. 

What is Meta Investing?

According to the website, Meta Investing Company is the largest broker in the market that provides the ability to trade on a financial market. Their trading software is a modern financial instrument for trading currency pairs and liquid goods. However, there are a lot of contradictory things about this broker. 

• The company states to be a certified financial broker of B.M.O. LTD. and provides a copy of the certificate of the Companies House (England and Wales). Despite the provided documents about the registration with the Companies House, it doesn’t mean the authorization of the Financial Conduct Authority. Companies House is the United Kingdom’s registrar of companies, it is not the regulator that approves licenses for the brokers in the UK.
• Moreover, the broker has been blacklisted by the UK's Financial Conduct Authority in November 2018:

"Meta Investing (claims to be a broker of B.M.O. LTD) is not authorized by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization."

• Also, the Ontario Securities Commission has recently issued a warning against Meta Investing:

  "Metainvesting also operating as Meta Investing and doing business as www.metainvesting.com and B.M.O. Ltd. are not registered in Ontario to engage in the business of trading in securities."

Meta Investing Review Conclusion

We advise all investors and traders to avoid Meta Investing and other brokers from the Marshall Islands. Traders should trade with well-regulated FX brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and BDSwiss.

Meta Investing Update

Our findings showed that Meta Investing is no longer active. 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.