Is MarketGBP Scam or Legit Broker?

No, MarketGBP is not a secure broker and it is not safe to trade with this company. MarketGBP is owned by Silver Wolf Ltd., which is an offshore company registered in the Marshall Islands.

  • The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Dax300, Finbitex, and more.

About MarketGBP
🗺️ Registered inMarshall Islands
🗺️ Type of LicenseOffshore License
🛡️ Is MarketGBP safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is MarketGBP?

MarketGBP offers Forex, Indices, Commodities, and Precious Metals trading. The broker doesn't provide any information about its offices or its regulation. They provide a UK phone number as a contact number, however, the company is not regulated by the UK's Financial Conduct Authority. Most probably, MarketGBP has been targeting British residents and as a result, has gotten on FCA's warning list in January 2019:

"MarketGBP is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization."

  • Also, Italy's regulator CONSOB warned the Italian public against MarketGBP:

    "The National Commission for Companies and the Stock Exchange has ordered the following company (MarketGBP) to cease infringement consisting of the offer and performance of investment services and activities to the Italian public."

  • In addition, we have previously reviewed companies (FXtrade777, TradeBNP) affiliated with Silver Wolf Limited that have been warned against by several regulators, which doesn’t look trustworthy at all.

MarketGBP - official website

MarketGBP Review Conclusion

We strongly advise all investors and traders to avoid MarketGBP and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers(Forex Brokers List) such as Pepperstone and BDSwiss.

MarketGBP Update

Our findings showed that the MarketGBP website is no longer active. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations. 

No news available.

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