Is Fxstocktradex Secured?

By Nabil Abousaid, from United States, April 21, 2021 at 07:44 PM

I am wondering if this broker possesses any records that may indicate if they’re legit or not. I can’t see anything that is mentioned in their regard in any way good or bad. I appreciate your help. 

Answer: Hi Nabil Abousaid,

Fxstocktradex claims to be an award-winning FX and CFD broker, however, the main question and concern is it’s regulation, not the awards. The broker state on its website that it protects your money with an ASIC and FCA licenses, when it is actually only registered in Saint Vincent and the Grenadines. It is mentioned on the website: Fxstocktradex is Incorporated in Saint Vincent and the Grenadines with registration number 336641 IBC (License No : 367741/CO ).

However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as Fxstocktradex. Read more about St. Vincent and the Grenadines regulation by the link.

We would advise to find a more reliable broker with the regulation. You can check our list of the Regulated Brokers to choose the one that fits you.

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