Reason to avoid: No license
Listed Date: November 23, 2018
Top 3 Regulated Forex Brokers
Beware CarterFS is a Non-Regulated broker. It is NOT SAFE to trade.
Is CarterFS a scam or legit broker?
No, it is not safe to trade with CarterFS. The company is owned and operated by Elit Property Vision LTD. Despite its location, the broker doesn’t provide any information about the regulation/license and we can also confirm that neither CarterFS nor Elit Property Vision LTD are regulated in Bulgaria by the Financial Supervision Commission.
CartersFS is not an exception when it comes to warnings. Spain’s CNMV has issued a warning against the broker in February 2017:
“CARTER FINANCIAL SERVICES is not authorised to provide the investment services, which includes investment advice, or to provide the auxiliary services relation to the financial instruments, including, to those purposes, foreign currency transactions.”
Also, the broker has recently been banned by Austrian FMA:
“Carter Financial Services is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others.”
and there is also a warning from the Italian CONSOB:
“The National Commission for Companies and the Stock Exchange has ordered the following companies to cease the infringement of art. 18 of the Consolidated Law on Finance, consisting of the provision of unauthorised investment services and activities to the Italian public”
We advise all investors and traders to avoid Kapitalfx and other unregulated brokers. 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 eToro and XM.com.