Easy FX Trade Review
Easy FX Tradewww.easyfxtrade.com
Reason to avoid: No license
Listed Date: December 11, 2018
Top 3 Regulated Forex Brokers
Beware Easy FX Trade is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: Easy FX Trade Limited
- Registration/license: None
- Registration/license requirement: –
Easy FX Trade is a broker that offers Forex, CFDs and Bullion trading. The company is owned and operated by Easy FX Trade Limited and claims to be FCA and ASIC-regulated. It also claims to have offices in London, Tokyo, Hong Kong, Sydney, Auckland, Dubai, and Mauritius. However, our biggest concern is the company’s regulation or actually the lack of it. It turned out that the information about FCA and ASIC is nothing, but deception. Easy FX Trade is not licensed by the Financial Conduct Authority in the UK or Australian Securities and Investments Commission or any other regulator.
Moreover, according to the FCA’s recent statement, the broker was not just providing a misleading regulation information, but it was also using the details of the FCA-licensed company. To be precise, Easy FX Trade has been using the registration number that belongs to the regulated firm Hantec Markets Limited.
In its notice, the UK regulator states that “clone firms” – fraudsters usually use this tactic when contacting people out of the blue, so clients should be especially wary if they have been cold called. They may use the name of the genuine firm, the ‘firm reference number’ (FRN) the regulator has given the authorised firm or other details.
“Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK: Easy FX Trade/Easy Trade Global (clone of FCA authorised firm). This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’”
Considering the above, we highly recommend to avoid Easy FX Trade and select a decent and licensed broker instead. Investing with a properly regulated broker is crucial for the safety of any investment. Here we should note that along with FCA, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), two other well-respected institutions, also enforce strict regulatory standards upon all brokers in their jurisdiction.