Reason to avoid: No license
Listed Date: August 10, 2018
Top 3 Regulated Forex Brokers
- Company name: Marantino Capital Ltd
- Registration/license: None
- Registration/license requirement: –
OnlyTrades is a Forex and CFD. It is owned and operated by Marantino Capital Ltd, based in Malta. The contact phone number provided on the website is British, which means the company is targeting UK residents without being authorized in the country. The company is not regulate in the UK by the Financial Conduct Authority, which is obligatory for the companies that provide financial services. Also the Malta Financial Services Authority (MFSA) has recently issued a warning against Marantino Capital Ltd and OnlyTrades. It is recommended to check if the broker is regulated before starting any business with it. Unlike FCA-licensed brokers, unregulated ones are not obliged to keep their clients’ money in segregated accounts. FCA provides a Financial Services Compensation Scheme with upper limit GBP 50,000 of compensation. You can check the list of the FCA-regulated brokers here.