Reason to avoid: No License
Listed Date: November 10, 2018
Top 3 Regulated Forex Brokers
Beware TouchTrades is a Non-Licensed Broker. It is NOT SAFE to trade.
- Company name:
- Registration Address/ License:
London, UK. No License, No Regulation.
TouchTrades is an innovative financial services company offering a full suite of easy-to-use online brokerage, investing and related banking solutions, delivered at a competitive price, as the broker mentioning on the website. The company states their location in London, however, does not hold an FCA license, which as at fact is mandatory for the financial investment firm in the UK. The potential investor, after the registration on the website and the opening of an account, has the opportunity to trade in stocks, commodities and indexes and on the currency market (FOREX) through the MT4 platform.
Generally, we never advise trusting unregulated company, as simply the broker that is reliable and truly perform trusted operation will take care of the clients’ protection and will get a necessary license to operate. As this is not the case of TouchTrades the trader will never know if he will see his funds ever again or not. In addition, the authorities received complaints from the traders about TouchTrades offerings, therefore, the firm received an official alert and was blacklisted.
“The TouchTrades Limited company, with an alleged registered office in London, according to the information available, people operating in the name of “TouchTrades” have contacted investors in certain jurisdictions by telephone in order to persuade them to open an account and trade on this website. The operation in question can be classed as the professional provision of investment services involving financial instruments that requires authorization, therefore TouchTrades have to cease the infringement”
There are many Forex Brokers offering very competitive trading conditions while enabling trading through a legal operation of the service, and of course, we advise to choose among them. This includes FCA Regulated Brokers, ASIC Brokers or similar.