LaTam FX Review
Reason to avoid: No License
Listed Date: November 5, 2018
Top 3 Regulated Forex Brokers
Beware LatAM FX is an Offshore Broker. It is NOT SAFE to trade.
- Company name:
Latam Global Markets Inc.
- Registration Address/ License:
Seychelles. Offshore License, No Regulation.
LatAm is a trading name used by the incorporated in Seychelles company Latam Global Markets Inc. which provides access to trade range of Forex and CFD instruments. LatAm FX claims developed business environment that was maintained with the aim to have lasting relationships with their clients, while the company has focused on the secure environment. The broker states its clear alliance with world-class banks and safe online transaction through the best guarantees. Seychelles is an offshore zone maintained their own register FSA, which is by fact does not check on the companies how exactly service is delivered. Yet, the broker mentions their register number with FSA as 133076, but we couldn’t find even that number too.
However, while checking all information we realize that the company is regulated by none of the serious international authorities means there is no any confirmation of any applied procedures, therefore the broker is non-licensed.
In any case, we never advise trading with an offshore or non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.
Rather than involving yourself to the risk of losing capital, we would recommend choosing among well regulated and reputable companies authorized as an example by ASIC (Australia) or others. In this case, the trader will be protected by vast international rules, participation into schemes in case of the company insolvency and many other designed for safety tools.