Getco Pro Review
Reason to avoid: No license
Listed Date: October 4, 2018
Top 3 Regulated Forex Brokers
Beware Getco Pro is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: Getco Pro Ltd.
- Registration/license: None
- Registration/license requirement: –
Getco Pro is a Forex, CFDs and cryptocurrencies broker. The entity is a brand name owned and operated by Andreas F Bauer, an Austrian Investment firm. They claim to be licensed and regulated by the Dutch Authority for Financial markets (AMF), under license number 12042561. They also provide the information about the offices that are located in London, the UK with the British contact number.
The confusing part is that the Austrian firm is regulated by a Dutch regulator and located in the UK. There is an actual investment firm Andreas F Bauer located in Austria and regulated by the Dutch AMF, but this name has nothing to do with Getco Pro and there is no evidence of these two companies to be connected. Seems like Getco Pro just uses the name of the regulated firm to get traders’ trust.
Moreover, the brokerage Getco Pro has been blacklisted by Austrian regulator FMA (Financial Market Authority):
“Getco Pro is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore not permitted to trade in financial futures contracts (futures) on its own account or on the account of others…”
Investing with a properly regulated broker is crucial for the safety of any investment. There are few well-respected institutions that enforce strict regulatory standards upon all brokers in their jurisdiction, such as FCA in the UK, ASIC in Australia or CySEC in Cyprus. Check out a list of brokers authorized by FCA.