Reason to avoid: No license
Listed Date: December 28, 2018
Top 3 Regulated Forex Brokers
Beware eMarketsTrade is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: Kalessica
- Registration/license: None
- Registration/license requirement: –
eMarketsTrade is a Forex, CFDs and cryptocurrency broker. The company is owned and operated by Kalessica that claims to be located in Cyprus. According to the information on the website, the company is not just based in Cyprus, but it is also regulated there by the Cyprus Securities and Exchange Commission (CySEC) under registration number 380321. However, there is no such entity registered with the regulator. The broker provides different contact numbers with phone codes of the UK, Italy, and Germany. It usually means that the company is targeting residents of those countries, but eMarketsTrade is not authorized to provide financial services in any of the mentioned or other countries.
Moreover, the UK’s regulator Financial Conduct Authority has recently issued a warning against eMarketsTrade and Kalessica:
“This firm (Kalessica t/a emarketstrade.com) is not authorised 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 authorisation.”
It is clear that traders should stay away from unregulated entities such as eMarketsTrade, especially when they use fake registration information to get clients’ trust. We strongly advise you to only deal with financial firms that are authorised by reliable regulators like FCA in the UK or CySEC in Cyprus. You can always check the registers of the authorized brokers on their website to ensure that the company you want to invest with is properly regulated. Check the list of the CySEC-regulated brokers.