Reason to avoid: Offshore license
Listed Date: October 8, 2018
Top 3 Regulated Forex Brokers
Beware InvestingPRO is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: Milton Group LTD/Kyoto Limited LTD
- Registration/license: Marshall Islands/Bulgaria
- Registration/license requirement: USD 2,000
InvestingPRO is a broker that provides Forex and CFD solutions to institutional and private investors. The website is owned and operated by a group of companies. The group includes Milton Group LTD, registered in the Marshall Islands and Kyoto Limited LTD., registered in Sofia, Bulgaria. Although the company claims to be registered in Bulgaria, it is not regulated by Bulgaria’s Financial Supervision Commission.
The broker provides the copy of the license with the Financial Commission which is also an offshore entity and considered to be a fraud and has a lot of negative reviews.
One more thing to pay attention to is the contact phone numbers with Italy’s and Poland’s country codes which only shows that the broker has been targeting EU countries without any authorization. Moreover, Spain’s National Securities Market Commission (CNMV) has issued a warning against InvestingPRO:
” www.investingpro.com is not authorized to provide the investment services detailed in Article 140 of the Securities Markets Law, which includes investment advice, or to provide the auxiliary services…”
It is recommended to trade with brokers regulated by UK’s FCA or Australia’s ASIC instead. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits. The regulator also protects customers when authorized financial services firms fail. Check the list of the FCA-regulated brokers.