Is FVPTRADE LTD legal? fvptrade.com
Is the broker legal
No, it is not safe to trade with FVP Trade as it is not properly regulated. The company is regulated in the British Virgin Islands. The British Virgin Islands Financial Services Commission is known for its light-touch regulation and very loose requirements that brokers do not try to comply with. Although the firm is licensed, BVI regulation is not enough to provide the financial services in, for example, the UK. In fact, BVI is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of the financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.