Is TradeBNP a scam or legit broker?

No, it is not safe to trade with TradeBNP. TradeBNP is owned by Silver Wolf Limited which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Dax300, Finbitex and more. 

TradeBNP

TradeBNP is a Forex broker that claims to be located in Belfast, United Kingdom and regulated by the Financial Conduct Authority (FCA) in the UK. Although there are no records of the company to be licensed in the UK or any other European country. Moreover, the broker has been blacklisted by the FCA in December, 2018:

“TradeBNP is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”

Is TradeBNP a scam or legit broker?

Also, earlier in August 2018, Italy’s regulator CONSOB has issued a warning against TradeBNP:

“The National Commission for Companies and the Stock Exchange has ordered the following company (TradeBNP, through the website www.tradebnp.com) to cease the infringement of art. 18 of the Consolidated Law on Finance – TUF consisting of the provision of unauthorised investment services and activities to the Italian public.”

In addition, we have previously reviewed a company (FXtrade777) affiliated with Silver Wolf Limited that has been warned against by several regulators, which doesn’t look trustworthy at all.

We strongly advise all investors and traders to avoid TradeBNP and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as XM.com and Plus500.

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