Reason to avoid: Offshore license
Listed Date: July 31, 2018
Top 3 Regulated Forex Brokers
- Company name: Thinking Ahead LTD
- Registration/license: Marshall Islands
- Registration/license requirement: USD 2,000
SwissCCI is owned and operated by Thinking Ahead LTD, based in the Marshall Islands. The Marshall Islands is an offshore destination where usually brokerage services are not regulated. SwissCCI is not associated with any financial regulatory agency. The broker provides British phone number on the website, although the firm is definitely not registered in UK with the FCA. The main issue with this broker is the lack of regulation. The license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license. Also all clients of FCA-regulated brokers are protected by the Financial Services Compensation Scheme. Each client can file a claim for the size of their account, up to GBP 50,000.