Opportunity Trade Review
Reason to avoid: No license
Listed Date: September 23, 2018
Top 3 Regulated Forex Brokers
Company name: Boton Development Ltd.
Registration/license requirement: –
Opportunity Trade is a Forex that offers STP type of trading. The company is owned and operated by the Boton Development Ltd. They claim to be located in Hong Kong, but after checking the information on the Hong Kong regulator SFC (Securities and Futures Commission) it turned out that the broker is marked and an “unlicensed entity” and is not located at the provided address. In addition, the terms and conditions on the website state that the company is under the UK’s jurisdiction, although the company is not registered in the United Kingdom. It is obvious that Opportunity Trade is one of those brokers who use fake credentials to get the client’s trust. We highly recommend avoiding unlicensed brokers as most of them are frauds.
It is safer to invest with brokers supervised by proper regulators, such as UK’s Financial Conduct Authority (FCA). All clients of FCA-regulated brokers are protected by the Financial Services Compensation Scheme up to GBP 50,000 per person, in case the company goes bankrupt. Check the list of the FCA-regulated brokers here.