Is Elbrobaxfx legit?

By Sylvester, from South Africa, December 23, 2021 at 10:56 AM

Broker legitimacy

Answer: Hi Sylvester,

According to the broker’s website, Elbrobaxfx is located in the US, but there is no information about this broker to be also regulated in the US, so we assume Elbrobaxfx is not regulated in the US and is not allowed to offer its services to the US residents. We were not able to find any information about this broker online, no mentions about it in the registers of the major regulators. Therefore, it is clear that Elbrobaxfx should be avoided due to the lack of regulation.

If you are looking for a reliable broker to invest with, we recommend checking our list of the well-regulated brokers.


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