Is Markets Cube a scam or a legit broker?

Markets Cube has been suspected as a scam broker. This broker is blacklisted by the well-known regulatory authority and should be avoided. Markets Cube is owned by Prisma Global 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 is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex and more.

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

Markets Cube is a Forex and CFDs broker, owned and operated by Prisma Global LTD, incorporated in the Marshall Islands – one of the popular offshore destinations for unregulated brokers. There is one more company behind the brand’s name – PayOpt Services LTD, whose registered address is in Limassol, Cyprus provides all payments processing services to Prisma Global LTD. The broker doesn’t provide any offices location info as well as the regulation details. Seems like it is one more offshore-based forex broker that has no license and trading with such entity can only bring a lot of troubles for the investors.
One more reason to stay away from Markets Cube is the warning that was issued by Spain’s regulator CNMV:
“Prisma Global LTD www.marketscube.com is not authorized to provide the investment services, which include investment advice, or to provide the auxiliary services in relation to the financial instruments, including, for those purposes, foreign currency transactions.”

Conclusion

As regulation is one of the most important things while choosing a broker, we recommend checking those regulated by reputable financial authorities such as ASIC in Australia, FCA in the UK or CySec in Cyprus. Check the list of the ASIC-regulated brokers

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