Is Elbrobaxfx a legit broker?

By Elbrobaxfx, from United States, January 4, 2022 at 04:07 AM

I interacted with their broker and within a day of depositing , they demanded an upgrade. Now I am suspicious . Please advise if this is a legit broker and website.

Answer: Hi Elbrobaxfx,

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.

We would recommend to stay away from this broker and most importantly, not to invest more by their request. You can report about this broker to your local regulatory authority so they can investigate this case deeper.

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