FGS Markets Review
Reason to avoid: Offshore license
Listed Date: September 4, 2018
Top 3 Regulated Forex Brokers
- Company name: Trade Up Ltd
- Registration/license: Marshall Islands
- Registration/license requirement: USD 2,000
FGS Markets is a Forex and CFD broker owned and operated by two companies Trade Up Ltd. and Preseplio Ltd. The first Trade Up Ltd. is based offshore, in the Marshall Islands. The other company, Preseplio Ltd., is located in Cyprus and claims to be regulated there. They even provide regulation number. The only agency that regulates financial services in Cyprus is CySEC (The Cyprus Securities and Exchange Commission), but they don’t have Preseplio Ltd. in their register, which means the company is not authorized to offer its services. None of the companies behind FGS Markets has a proper regulation, that’s why we don’t recommend choosing this broker. Moreover, these companies were banned by Italy’s regulator CONSOB. Instead, we advise choosing those brokers regulated by serious and reliable agencies, such as FCA in the UK or ASIC in Australia. Check the list of the FCA-regulated brokers here.