Reason to avoid: No license
Listed Date: July 25, 2018
Top 3 Regulated Forex Brokers
- Company name: Callpoint ltd s.r.l.
- Registration/license: None
- Registration/license requirement: –
Utrade is a forex and CFD broker owned and operated by the Callpoint ltd s.r.l., based in Romania, Bucharest. The broker claims to be regulated by most of the serious regulators such US NFA, UK FCA, Australian ASIC, Japanese FSA, German BaFin and SFC in Hong Kong. Although the firm is not registered with any of these agencies and even got blacklisted by the Financial Conduct Authority in the UK. We don’t recommend to deal with a company that carries no license and not regulated. For obtaining an STP FCA license, the required capital for the broker to have is EUR 125,000. Also in order to get this type of license, the broker needs to have a physical office in the UK. All clients of FCA-regulated brokers are protected by the Financial Services Compensation Scheme.