Global financial services provider Orbex recently celebrated its first decade in operation as a regulated FX broker.
The celebratory event occurred on October 17th, 2020 in Limassol, Cyprus, the town the company has called home since its inception in 2010.
The evening brought together members of the HQ staff, Orbex business partners as well as his excellency the Mayor of Limassol and various esteemed members of the Limassol Municipality, in a gala filled with music, fireworks and gifts of appreciation.
The 10-year anniversary was not the only milestone being celebrated, however, with a host of other accomplishments marking this year as a success.
Most notably, the company recently enhanced its trading conditions and account types, offering its clients spread as low as zero.
The company also continued its 10-year streak of a 100% clean regulatory record, a remarkable achievement considering the strict European framework that CySec-regulated firms must abide by.
“It is a testament to the values that Orbex is founded on that the company has maintained a decade of strict adherence to the rules of our nation’s highest regulatory authority. I am proud today to celebrate this occasion with a local company that leads by example” said Limassol Mayor Nicos Nicolaides.
The anniversary comes just one year after Orbex secured its FSC license under Orbex Global Ltd., considerably increasing the number of clients the company is geographically able to serve across the globe, as well as significantly raising the available leverage for those eligible to trade with the Mauritius-based Orbex entity.
“When I started Orbex in 2010, I wanted to establish a financial services firm that was known first and foremost for its ethics and transparency. Now, one full decade later, I am beyond proud of the reputation we have built and the loyal community of traders we have created” said Orbex Chairman Abdullah Abbas.
In addition to the regulatory developments and expansion of financial tools, this year, Orbex also brought home the title of Best Forex Broker 2020 MENA & EU, awarded by Global Banking and Finance Review.
This award has been added to the impressive list of titles Orbex has obtained over the years, including “Best Trading Education Provider”, “Best Analysis Provider” and “Best FX Forecast & Strategy Provider”, in keeping with the company’s philosophy of promoting an informed and responsible approach to the forex markets.
“I stand here today humbled by many things; by the hard work and dedication of the Orbex team, by the successes that we have achieved, and by the bright future I see for our brand in the years to come. I am beyond excited to enter this new decade, more passionate and dedicated to serve traders responsibly than ever” Abbas Added.
About Orbex
Orbex Limited is an award-winning global forex broker, fully licensed and regulated by CySEC. Headquartered in Limassol, Cyprus, Orbex specializes in the provision of access to the world’s largest and most liquid financial markets.
Orbex Global Limited is fully licensed and regulated by FSC Mauritius and headquartered in Ebene, Mauritius.
The companies offer multiple asset trading including forex, indices, commodities and metals. With a focus on research, analysis and enhanced security of client funds, Orbex upholds a reputation of seasoned expertise within the industry.
The UK Financial Conduct Authority (FCA) has recently issued a public warning about a fraudulent entity cloning the reputable retail FX and CFD broker, Plus500. This clone, operating under the deceptive website www.plus500un.com, is mimicking Plus500's branding, including its name, logo, and other corporate details.
Clone firms like this are a growing concern, as they exploit the credentials of legitimate businesses to deceive individuals into believing they are dealing with the real entity. These fraudsters may combine accurate details of authorized firms with false contact information, including email addresses, telephone numbers, and postal addresses, making it challenging for individuals to differentiate between the genuine and the fake.
The FCA emphasizes that Plus500UK Ltd, the legitimate and authorized firm, is in no way connected to this clone. Plus500UK Ltd is a recognized firm with the Firm Reference Number 509909 and operates from 8 Angel Court, Copthall Avenue, London, EC2R 7HJ, United Kingdom. Their official contact details include the telephone number +4402038761640 and email address compliance@plus500.co.uk, with their authentic website being https://www.plus500.com/en/.
The authority stresses the risks involved in dealing with clone firms. Individuals who transact with such entities are not covered by the Financial Ombudsman Service for complaints, nor are they protected by the Financial Services Compensation Scheme (FSCS). This lack of protection means that in the event of the clone firm going out of business, it's highly unlikely that individuals will recover their money.
The FCA urges the public to be vigilant and always verify the authenticity of any financial service provider before engaging in any transaction. This incident serves as a stark reminder of the sophisticated tactics employed by scammers in the financial world and the importance of conducting thorough checks to ensure the legitimacy of a firm.
In an ambitious move to fortify its trading technology stack, RoboMarkets, a prominent Retail FX and CFD broker, has announced a strategic partnership with Acuity Trading, a leader in AI-driven trading technologies. This partnership marks a significant leap in RoboMarkets' commitment to empowering its retail and professional clientele with advanced tools for a more informed and effective trading experience.
RoboMarkets is set to integrate an array of Acuity’s cutting-edge AI tools, including the Economic Calendar, AnalysisIQ, and AssetIQ, into its trading platform. The move is anticipated to revolutionize the way traders strategize in the financial markets by providing them with enhanced data-driven insights.
Acuity’s AI-Powered Economic Calendar: RoboMarkets’ traders are to benefit from an economic calendar that does more than just list events. It’s engineered to deliver real-time insights, complete with AI-enhanced filters and indicators designed to convert market volatility and uncertainty into tangible trading opportunities.
AnalysisIQ: Originally developed by Signal Centre and later acquired by Acuity in 2021, this tool stands out with its FCA-regulated pedigree, promising professional and reliable market analysis and trading signals. This addition aims to reinforce the traders' strategy and decision-making processes, a crucial edge in today’s fast-paced trading environments.
AssetIQ: Providing a comprehensive, up-to-the-minute view of global market assets, this research tool is meant to be a game-changer for RoboMarkets’ traders. It ensures that the latest, most pertinent data is readily available, assisting in the execution of informed and timely trading decisions.
This collaboration is a testament to RoboMarkets’ dedication to innovation and excellence. By adopting these AI-driven tools, the Company not only enriches the decision-making capabilities of its traders but also affirms its resolve to maintain a comprehensive outlook on the financial markets.
As a CySEC-regulated broker, RoboMarkets continues to prioritize the evolving demands of its traders, offering an expansive suite of over 3,000 trading instruments, including coveted US Stocks and ETFs. With Acuity Trading's AI technologies in its arsenal, RoboMarkets is poised to set a new standard for what traders can expect from a leading brokerage firm.
The integration of these AI tools is expected to elevate the trading experience on RoboMarkets’ platform, allowing both retail and professional traders to navigate the complexities of the market with greater ease and confidence. It underscores a future where artificial intelligence is not just a buzzword but a fundamental component of trading strategies, driving the finance industry toward a smarter, more insightful future.
HFM, a prominent worldwide multi-asset broker, has just unveiled adjustments to margin prerequisites and maximum leverage for Gold symbols.
Investors interested in XAUUSD and XAUEUR will find advantage in the subsequent modifications, which are applicable to both fresh and preexisting positions across all account categories:
Margin requirements
Reduced from 0.5% to 0.05%
Maximum leverage
Increased to 1:2000
All other aspects will stay unaltered and can be reviewed by visiting the official HFM website or alternatively by checking the specifications in the trading terminal.
HFM remains at the forefront of transforming the financial markets with the introduction of its latest trading account offerings. These accounts empower clients to trade across a wide variety of asset classes and benefit from exceptional trading conditions. Featuring enhancements such as boosted leverage of up to 1:2000, the availability of swap-free trading on specific accounts and instruments, straightforward deposit and withdrawal methods, and lightning-quick execution, HFM is redefining the manner in which traders participate in global markets.
HFM invites visitors to explore their website: www.hfm.com
The European Central Bank (ECB) is diligently moving forward with a robust plan to develop a digital euro. Marking a pivotal moment in financial innovation, the ECB aims to forge a secure and freely accessible electronic payment option that will unify the twenty nations under a single currency.
As the bank embarks on a two-year preparation phase starting November 1, rules and regulations surrounding the digital euro will be meticulously refined and finalized. A crucial part of this phase will involve choosing private-sector partners and rigorously testing and experimenting with the payment prototypes. The Governing Council of the ECB will conclude this phase with a decision on whether to transition into the succeeding stages, setting the course for the potential unveiling of the digital euro.
Notably, the ECB's proactive strides have positioned it at the forefront, even ahead of other affluent central banks from the Group of Seven (G7). The bank's strategies could thereby illuminate the path for other global central banks, offering a foundational blueprint for their respective digital currency initiatives.
Despite skepticism and critiques from various sectors, including some regulators and bankers, the ECB has shown resilience in its pursuit. Critics argue that the digital currency could inadvertently encourage bank runs during periods of financial unrest, posing more risks than benefits. In response, the ECB has plans to impose a cap on the individual holdings of digital euros, possibly up to 3,000 euros, as a mitigation strategy.
The bank’s strategy also prioritizes competition, aiming to diversify a payments market presently dominated by U.S. credit card giants. The digital euro promises to be an inclusive currency, guaranteeing secure and free usage, endorsed by the ECB's credibility. Users will be enabled to execute minor offline transactions, ensuring data security as transaction-specific information will not be retained.
The advent of the digital euro is concurrent with a dramatic surge in electronic payments within the European Union, which has been further expedited due to the COVID-19 pandemic. This surge highlights a transformative shift in global financial landscapes, ushered by the burgeoning rise of stablecoins and other digital currencies, aiming for a seamless blend of tradition and innovation in monetary transactions.
Following the two-year preparation phase, the ECB's Governing Council decision will be a momentous one, potentially heralding a new era of digital currencies within the global economy.
Dukascopy Bank SA, a renowned Swiss-based financial entity, has acted promptly, issuing a stern public advisory concerning a deceptive clone website. The counterfeit website, identified by the domain https://www.dukascopys.top, has raised significant concerns within the banking institution dedicated to safeguarding the integrity of its operations and clientele.
Public Advisory on Unauthorized Dukascopy Clone
In a decisive move, the bank has alerted both the public and its clients, emphasizing that the fraudulent website is neither owned nor operated by Dukascopy Bank, Dukascopy Europe, Dukascopy Japan, or any affiliated entity within the Dukascopy Group. Individuals are strongly advised to exercise utmost caution, avoiding any interaction or the sharing of personal or sensitive information on the unauthorized platform.
Dukascopy Bank's rapid response underscores its unwavering commitment to protecting its clients while upholding the integrity and reputation of its services. The bank continues to actively thwart any unauthorized activities that compromise its name and stature in the financial sector.
The Imperative of Website Authenticity
This unsettling incident stands as a stark reminder of the ongoing risks posed by online fraudulent activities, particularly within the financial and banking industries where vital personal and financial data is often exchanged. Ensuring the authenticity of websites is pivotal in safeguarding sensitive information and conducting secure and legitimate financial transactions.
Analyzing Dukascopy’s Financial Performance
Despite this challenge, it’s essential to also spotlight Dukascopy’s recent financial performance. A notable decline has been observed, with profits plummeting by 80%, recording CHF 889,000 in H1 2023, a significant fall from CHF 3.9 million in the preceding year.
This downturn is mainly attributed to a substantial decrease in trading activity income, dropping by 33%. However, not all financial indicators were gloomy. Dukascopy saw remarkable growth in revenue from interest operations, witnessing a soaring 800% increase. In addition, a slight uptick in commission business and services income was observed, accompanied by a significant reduction in operational expenses.
Dukascopy Bank’s steadfast dedication to safeguarding its clients and maintaining operational integrity remains evident, even as it navigates through multifaceted challenges in the financial landscape.
In a recent announcement, Saxo Bank, a renowned multi-asset investment specialist, has issued a warning to its white-label partners about the impending lack of support for its SaxoTraderPRO software on older Windows operating systems.
Starting from the upcoming update in November 2023, SaxoTraderPRO will not be compatible with Windows operating systems 8.1 and its predecessors. As a direct implication of this update, users operating on these versions will be rendered unable to use the SaxoTraderPRO software. For those affected, Saxo Bank suggests the use of their web-based platform as a viable alternative.
Additionally, users who choose not to make the transition to the new version of SaxoTraderPRO will encounter recurring notifications upon logging in, notifying them about the outdated version. It's essential to note that by Q2 2024, these older versions of the platform will be completely discontinued. Following this phase-out, logging in will be impossible without an update to the more recent version of the software.
Saxo Bank is taking proactive measures to ensure a smooth transition for its users. In the forthcoming weeks, account managers will be reaching out personally to those identified as SaxoTraderPRO users on non-supported operating systems.
The bank urges all its partners and users to take necessary actions timely to ensure uninterrupted access to their trading tools and services.
🛡️ Is FCA Broker Offshore or Top-tier Jurisdiction?
Top-tier
🔒 Is Top-tier Jurisdiction safe to trade?
Yes
What is UK FCA?
The Financial Conduct Authority (FCA) is one of the most world respected financial regulatory body based in the United Kingdom which is recognized as top-tier Financial Authority with strict guidelines and procedures applied. FCA operates independently from the UK Government and is a conduct regulator for over 50,000 financial service firms and markets in the UK, as well the Prudential Regulation Authorization. (Read our article about UK Brokers)
FCA, as an independent public authority in UK that regulates the conduct of both retail and wholesale financial services firms with a purpose defined by the Financial Service and Market Act 2000 (FSMA). FCA aims to make financial markets work well so that traders and investors get a fair deal, through its enhanced market integrity and promote competition. ( Read more about the role and functions of FCA)
The FCA took responsibility for financial stability by bringing together a new regulatory structure and enhancing its predecessor the Financial Services Authority (FSA) responsibilities, the agency that regulated financial services between 2001 and 2013.
The authority has significant power to cover responsibility for regulation of the financial sector and firms, including CFD and Forex brokers, providing services to traders and investors. The objective of FCA is the maintenance of the financial market integrity in the United Kingdom and secure an appropriate degree of trader protection.
FCA Brokers Requirements and Regulation
In fact, for any firm in the UK whether a business, asset manager, broker, or financial investment firm the activity is a must to be registered and regulated by the FCA. First of all, the FCA set a range of registration requirements before the broker is allowed to operate in the market, which includes raising fees with a high initial capital to apply for the FCA license and carry out its regulated activities further:
The license type is based on factors such as the scale of activities and is divided into STP license (check on STP Forex Brokers), which imposes EUR 125,000 initial capital and EUR 730,000 for Market Making license.
Upon application, the company will be checked for its adequacy to operate in the market, with a review of business plans, budgets, resources, applied systems, and controls. The directors and key staff will be interviewed and obliged to have the necessary qualifications with an effective background, so the requirements are met and the director is experienced enough to run the brokerage.
Moreover, the broker should maintain a physical office in the UK and be organized to comply with the FCA rules and mandates at all times. FCA Brokers operate their business based on the FCA handbook guidelines to ensure clients are being treated fairly, the information is provided accurately, and most important, transparently.
Why trade with an FCA-regulated broker?
There are numerous measures and rules set by the FCA which recognize authority as one of the most safe and best Regulators for Forex Trading and Investment. Some of the regulatory measures that are important to the traders include various demands FCA Regulated companies have to follow that are designed to protect clients, which includes - segregation of the client’s funds from the broker’s operational fund. That means the broker stores their operation fund separately from the client's bank account, thus cannot use clients' money for any purpose or even touch it.
Furthermore, FCA brokers provide negative balance protection to their traders, so clients cannot lose more than their initial deposited capital. Lastly, the maximum protection level is achieved by solve of an unlikely event when a broker goes bankrupt or falls under insolvency issues, the client and his funds are protected, by the Financial Services Compensation Scheme (FSCS) so the client receives funds back with an upper limit of GBP 85,000 per client.
The regular supervision tasks of FCA ensures follow of the strictest demands, while every authorized entity report, confirm, and maintain on a daily and monthly basis, respectively, otherwise, the authority will get involved and will check the performance in detail. In the event broker didn’t follow FCA handbook guidelines (Here you can find FCA handbook guidelines), it may cause further investigation of a case, with imposing of fines, while powers have already been seen loads of their announcements, heavy fines, or even dismisses of the broker’s license.
See below an example of some of the largest financial penalties in the history of £284,432,000 for forex failings. In addition, the FCA is able to ban financial products, firms, or the particular asset manager, as well as have the power to instruct firms to immediate action, modification, or revoke their license if necessary.
Benefits of Trading with FCA Broker in UK
The benefits of trading with FCA-regulated Forex Brokers are evident at a glance, as the authority ensures strong oversight of brokers, monitors products and provides compensation when necessary. Overall, the FCA conducts thorough checks on brokerage firms, ensuring their compatibility with successful operations, market development, and fair treatment of traders. Consequently, the FCA has received high consumer rankings, as traders receive appropriate trading services, unparalleled advice, and knowledgeable support for any questions that arise.
Moreover, the education and ongoing support from the FCA enable traders to understand their rights as customers and receive financial advice. The FCA also offers resources for lodging complaints, reporting scams, or dealing with unauthorized firms. Additionally, they provide comprehensive guidelines on how to avoid scams, regularly updating their 'Avoid' listing.
With all the strict regulatory guidelines, if a trader or investor believes they are encountering an unfair trading experience with the broker, they can file a complaint against the broker with the relevant FCA department. Besides, traders from UK that has been scammed or getting some proposals from other firms to invest can submit complaint about such firms too (see our list of Brokers to Avoid)
Firstly, the regulated brokers in place must have a procedure to resolve disputes and respond within a set time, however, you can always go further and submit a complaint to the Financial Ombudsman Service, known as claim handlers.
Traders should diligently search for information about the FCA forex broker license directly on the official site, which can be found on the Financial Services Register.
Moreover, regulated broker websites often display their FCA register number, which should be confirmed with the official source to ensure its authenticity. This precaution is necessary due to the presence of numerous clones and fraudulent firms that use registration numbers to deceive individuals and pose as official entities. ( Read our review article of HFM, an FCA-regulated broker)
Additionally, it is advisable to check FCA Brokers Reviews. Currently, our website provides a comprehensive list of over 80 FCA Regulated Brokers in the UK, which is continually expanding.
Conclusion on FCA regulation
UK known as one of the most respected financial centers with a strong historical record of delivering stable economic figures and maintaining influential political positions, also provides an excellent level of regulatory system via the top-tier FCA Regulation.
In fact, the FCA is one of the most respected authorities in the trading industry. It establishes high protective measures and ensures market integrity through its strong influence and monitoring capabilities. The FCA has expanded its responsibilities to the financial and trading sectors by transparently determining policies and carrying out supervisory functions. Additionally, as the main focus of the FCA is to only collaborate with authorized firms, the authority provides extensive data on best practices and fraud prevention. You can learn more about how Forex Trading Scams work in our article linked here.
"Overall, some of the most reputable brokerages and regulated firms are indeed regulated by the FCA. Traders and investors can trade with confidence in the status of an FCA-regulated Forex Broker, ensuring fair and effective transactions and adherence to obligations for client protection under the legitimate regulatory framework.
🛡️ Is SVG Broker Offshore or Top-tier Jurisdiction?
Offshore
🔒 Is Offshore Broker safe to trade?
No
⛔️ Type of License for Brokers to Avoid
Offshore License/ No License
What is SVG FSA?
St. Vincent & the Grenadines or SVG through increasing demand for the financial sector and offshore zones itself created the Financial Services Authority FSA with a responsibility to regulate non-bank, certain entities in the financial sector and control the international financial services industry.
SVG FSA was established in November 2012, with a mission as the authority mentions on its official website - to develop, regulate and supervise St. Vincent and the Grenadines as a secure and competitive financial center in the international and the financial sector in accordance with best practices.
However, Forex Trading or Brokerage activity, which is the main topic in the financial investment world and also rapidly growing in its demand, does not have a solution for the regulation of Forex, CFD, and Binary Options in SVG.
The regulation or even licensing of the Forex business is not a part of the SVG FSA activity, as stated by the official warning.
“There are financial institutions out there that falsely claim they are registered or licensed in our jurisdiction. Their purpose for doing this is more than likely for illicit reasons and potential customers should be very cautious about conducting business with them. FSA, St Vincent and the Grenadines. (Learn more about SVG FSA Function Role)
Is SVG Broker Scam or Safe?
St Vincent and the Grenadines of SVG is an island in the Caribbean, which became quite a known location for its tax haven offering out of the international companies. St Vincent is indeed an attractive solution among financial companies and those businesses that for one reason or another choose to operate through an offshore company.
Since the jurisdiction itself offers easy-to-achieve setup demands through a very quick, simplified process, while the firm does not necessarily need to operate an office in SVG, allows to maintain low initial capital, no strict establishment rules or requirements, yet allows running a global business.
Furthermore, there is no sharp regulation or overseeing of the company operation implemented and Forex Business itself is not regulated, see a snapshot from FSA SVG website below.
Therefore, Forex business established in SVG is not well regulated in St Vincent, the SVG broker can run its activity, provide trading environments and accept Forex payments through credit cards, but is not overseen well in comparison to the top tier authorities, for this reason, is not safe enough to trade or recommended to sign in. See our list of offshore and Unregulated Broker to Avoid, or Read more about Why Trade with FCA UK Brokers)
Why not trade with an SVG FSA Registered broker?
Considering the fact that SVG FSA enables low setup requirements with No business planning, No management interview, or check of the company background. While the registered company operates with No Handbook, No Regulatory Reporting, No Impose of Fines in case of its malicious service and there is no protection implied like Fund Segregation, Negative Balance Protection, or Compensation in case of insolvency. We can not conclude SVG Broker is safe to trade and better advise to avoid them.
Therefore, apart from beautiful seaside beaches, the SVG with its offshore environment became a known hub of financial firms, while the legal environment can be quite loose towards the Forex business and brokerage itself. For a better understanding check out the UK FCA Authority and its sharp regulation, overseeing of the brokerages, and heavy fines in case of the company fail to obligations, see the snapshot of UK FSCS protection applied too, while SVG Brokers apply none.
SVG Registration Requirements
Obviously, the investment and trading service is a popular trend, however in order not to fall under the scams and frauds, which are in fact growing daily, you should carefully choose a company before any funding is done. Forex and derivatives trading as a decentralized market can be a highly risky opportunity if the company delivers trading service without strict overseeing from the industry authority.
For that reason, we always advise choosing among the most reputable and of course heavily regulated brokers and to protect yourself from potential scammers. For instance, as an example learn and compare eToro offering and heavy regulation.
To get more knowledge, you can also read our article Forex Trading Scams and know how to protect yourself, with a deeper understanding of how frauds work.
In addition, most often an offshore broker alike SVG Brokers are associated with other companies while the offering varies slightly from the majority of frauds, yet the result is equally disappointing. The major concern about lack of regulatory oversight places SVG companies much under the recommended safety line, in essence, you only get the honest word of the company.
Complaints and scams to SVG FSA
We have received many user reviews, while the majority of them are obviously negative. What are the Complaints about? Mainly - Rejects client withdrawal, meaning a client who puts money cannot get profits or funds back. See popular Broker - Olymp Trade and read comments from real traders below.
In case you have negative scenario or behavior from the Broker in SVG, SVG FSA will not be able to assist through customer protection, to advise or take action further, the trader stands completely alone at that point. Therefore, there is no way to complain or receive any support from the authority. See snapshot from SVG FSA about risks involved.
Fake Trading Brokers
In addition, there are many fake brokers stating their address, regulation or registration at SVG, while pretending to be a legit firm but in fact are not.
SVG authority recognized the risky potential and just warn traders that in case of trading with an unlicensed and unregulated company the trader using the services at his own risk. As an unlicensed or offshore broker most often not subject to any supervision of practice or regulatory laws the company may easily mislead or false any information or the service providing itself.
The only way the SVG FSA tries its attempt to protect clients is to place an advise and list entities at the alert area as of the false license claims in the SVG jurisdiction, yet the protection “actions” are ending just by that. SVG FSA - Investor Alerts
List of St Vincent and the Grenadines Forex Brokers
Currently, we have reviewed many Forex Brokers from St. Vincent and the Grenadines, while none of them were included into the list of trusted or brokers with a recommendation of safe trading. The only companies that may be trusted are those brokerages that hold additional licenses from reputable authorities and at the same time run business in SVG for international access, check GO Markets Broker.
We suggest check on the broker carefully before any sign in is done, revise the broker’s regulation status, its authorization claims, news and reputation by reading reviews and checking on the legit documentation.
As well, you can find and verify company you concerned about at our regularly updated list of Brokers to avoid or submit your inquiry. Then if you found a broker at the list you better stay away from any cooperation or trading with them at all cost, as listing consists of mainly non-regulated and offshore firms which are not recommended or safe.
Conclusion on SVG regulation
The final thoughts conclude that traders and investors should ensure a clear understanding of the procedures and risks involved while the company or another offering the forex trading opportunity and not properly licensed, or in other words is offshore Broker like SVG Brokers are.
As of the recent growth of international trend of Forex, trading investors are urged to exercise caution before any sign in or acceptance of the offering. Any broker declares its regulation by FSA SVG, in substance, made a false claim. As it became clear now, why the SVG incorporated firms disclose information on the risks, in particular, the possibilities of loss, therefore we recommend avoiding offering from the brokers mentioning their SVG FCA regulated status.
In order to become a trustable company in providing financial and trading service, the Broker should be sharply regulated and retain a sufficient level of reputation through its operational history. Definitely, it is not a gaining point towards trust to the brokerage that is an offshore-based company and was established with a low registration requirement while none of the protective principles followed.
The security of funds always stands first, therefore, you better consider brokerages from other jurisdictions that maintain a sustainable level of financial and investment services and forex trading in particular through a protective set of rules. For this, we advise finding a broker with licenses from top-tier authorities, such as FCA, ASIC, or CySEC. Sign in only with trustworthy brokers, such as FP Markets, HFM, or recommended brokers by the link.
