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.
- Company name: SolutionsCM LTD
- Registration/license: None
- Registration/license requirement: –
CarterFS is a Forex and CFDs broker. The broker is owned and operated by SOLUTIONS CM, based in Sofia, Bulgaria. Despite its location, the broker doesn’t provide any information about the regulation/license and we can also confirm that neither CarterFS nor Solutions CM are regulated in Bulgaria by the Financial Supervision Commission. Also, Solutions CM has a bad reputation because it was banned multiple times as an owner of Britonprice and Easy Line Pro. CarterFS 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/www.carterfs.com is not authorised 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, to those purposes, foreign currency transactions.”
We recommend you to avoid not licensed brokers and choose among the regulated ones. The most reliable regulators are the UK’s FCA, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). These regulators require a certain amount of capital from the brokers to guarantee the compensation of funds and a certain level of safety of clients’ money. Here you can check the list of the ASIC-regulated brokers.