Reason to avoid: Offshore license
Listed Date: January 8, 2019
Top 3 Regulated Forex Brokers
Beware Trader.Online is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: IVY Capital/DDK Ltd
- Registration/license: Marshall Islands / Bulgaria
- Registration/license requirement: USD 2,000
Trader.Online is an offshore broker that Forex and CFDs trading on commodities, stock, indices and crypto coins. According to the broker’s website the financial services are provided by IVY Capital company number 86281 with registered office: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands. Website is operated by DDK Ltd company number 205094347, with registered office and operational address: Sofia, Bulgaria. However, the company is not licensed by Bulgarian Financial Supervision Commission, so the offshore registration is the only the broker has. It means the broker cannot guarantee the safety of the clients’ funds and cannot offer the same level of protection as other regulated entities. It is a common case for most of the offshore-registered brokers, that is why we always emphasize on avoiding such companies.
In addition, Trader.Online has recently been blacklisted by the Portuguese Securities Market Commission:
“The Portuguese Securities Market Commission (CMVM) issues a warning for investors to the fact that TRADER.ONLINE (www.trader.online) is not authorised to carry out any type of financial intermediation activity in Portugal, under Article 295 (1) paragraphs a) and b) of the Portuguese Securities Code.”
In order to ensure that a certain entity that provides investment services in financial instruments is authorised to carry out said activity in a certain country, one should consult the lists of authorised financial intermediaries that usually can be found on the regulators’ websites. We recommend checking the registers of the most reliable regulators, such as the Financial Conduct Authority (FCA) in the UK or Swiss Financial Market Supervisory Authority (FINMA). You can also check the lists of the FCA and FINMA regulated brokers on our website.