Reason to avoid: Offshore license
Listed Date: January 22, 2019
Top 3 Regulated Forex Brokers
Beware CFDpremium is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: CFDpremium
- Registration/license: Vanuatu
- Registration/license requirement: USD 2,000
CFDpremium is an online Forex broker, focusing on Commodity, Index and Forex trading. The broker doesn’t disclose any information about the company behind the brand name. It also doesn’t provide any regulation info, only that it’s “safe and regulated”, without any reference to a specific regulatory entity. The company claims to be located in the UK, however, the contact number provided on the website is German. One more suspicious thing about CFDpremium is that terms and conditions state the broker is under the jurisdiction of Vanuatu, one of the popular offshore location for unregulated forex brokers. It seems that the broker doesn’t have a proper regulation.
Moreover, the company has been recently blacklisted by the Spain’s regulator CNMV:
“cfdpremium.com is not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, which include 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, for those purposes, foreign currency transactions. “
Concluding all the above, we wouldn’t recommend investing with CFDpremium. Investing with a properly regulated broker is crucial for the safety of any investment. Here are some reliable regulators: UK’s FCA, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). These regulators have certain requirements and strict rules the firms have to comply with. One of the rules is the segregation of accounts, as it lowers the risk of possible money loss.