Reason to avoid: Offshore License
Listed Date: September 7, 2018
Top 3 Regulated Forex Brokers
- Company name:
- Registration Address/ License:
Saint Vincent and the Grenadines. Offshore License VFSC.
- Registration Requirement: 2,000$
ExpertOption claim to be the leader in the online trading industry through its offering to trade binary options with a trust of more than 8 000 000 clients at their background. ExpertOption company is located in Saint Vincent and the Grenadines while authorized and regulated by the VFSC government financial commission and an approval to hold the activity with supervision by the FMRRC organization (Financial Market Relation Regulation Center). Nevertheless, the abovementioned regulations roughly deliver a strong base to perform a reliable operation for their licensors. The VFSC in a Vanuatu authority, which delivers access to perform services to offshore companies with slight requirements to follow. FMRRC is a non-official organization in Russia created with a purpose to regulate brokers, yet none of above cant assures strictest follow of rules and compliance to the necessary laws as well as efficiency. In addition, there are negative reviews mostly about payouts one the trading amounts are increased. However, since the company is not registered in the EU it does not provide or target clients from the jurisdiction, therefore didn’t receive any official claims or warnings. The markets, which are targeted by the broker includes those who mainly work with initially low deposits since the company limits deposit till maximum 3,000$. The potential clients include Russian ones, as the website also uses .ru domain, and the India region clients since the customer services also include Hindi speaking support. Overall, it is advised to avoid trading with Expert Option due to its unregulated services and the high-risk operation which targets numerous clients to their rows without a necessary level of protection or performance. Dealing with an offshore broker most often carries a significant chance to fall under the scam operation. Therefore, it is better to choose among the brokers that are complied with the industry leading authorities and the governmental entities that are backed with customer protection and the provision of the legitimate financial services. Hereby you can choose among the Regulated Forex Brokers.