Reason to avoid: Offshore License
Listed Date: December 27, 2018
Top 3 Regulated Forex Brokers
Beware Esplanade is an Offshore-Licensed Broker. It is NOT SAFE to trade.
Esplanade Market Solutions Ltd.
Registration Address/ License:
St. Vincent and the Grenadines. Offshore License, No Regulation.
Esplanade Market Solutions is a leading brokerage company, as brokers’ mentions on its website, that provides the widest range of services and makes every effort to create a comfortable environment for online trading. The Esplanade states its address and registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines. The brokers offering consistent of access to trade financial instruments and derivatives on a range of assets, throughout constant support and lawless settlement.
However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provide very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Read more about St. Vincent and the Grenadines regulation by the link. In addition, the Esplanade MS received its legal warning from a Bulgarian authority FSC while the broker was detected by its active offering towards residents without legal permission to do so.
We constantly advise avoiding offshore and unregulated brokers at any cost, as the level of operation never checked for its adequacy among other issues, which does not bring any positive sites of an investment. Funds safety always stands first, therefore protect yourself and do not engage in the highest risk trading with a nonregulated entity and better consider among reputable firms from serious jurisdictions.