Reason to avoid: Offshore license
Listed Date: July 29, 2018
Top 3 Regulated Forex Brokers
- Company name: Almandex Group LTD
- Registration/license: St Vincent and the Grenadines
- Registration/license requirement: USD 2,000
TradeTime is an offshore Forex broker owned and operated by Almandex Group LTD , based in St Vincent and the Grenadines. The registered address of the broker is also in St Vincent and the Grenadines, but they provide contact phjone numbers in UK, Australia, New Zealand, Spain, Sweden and France, which means they are targeting the residents of these countries without being regulated there. The SVGFSA (Financial Services Authority of the St Vincent and the Grenadines) is famous for its low capital requirements – you can open a forex broker, by having only USD 2,000 in capital. As a comparison the United Kingdom’s Financial Services Commission (FCA), demands a minimum of EUR 125,000 for STP license. Find the list of FCA regulated brokers here.