Scam Brokers

In order to open a trading account with Broker Unity, you need to register on their website. Upon registration, you’ll be asked your complete name, country of residence, phone number, and email address.

With its high capital requirement, mediocre trading platform, and many red flags this broker has displayed, we don’t see any advantage for traders investing with this firm. Don’t risk your money with this unregulated broker.

After we examined the firm’s website and its legal provisions, we can say that it’s not worth it to risk your money with them.

Its website displays a registered physical address at Birmingham, UK. However, this doesn’t prove its legitimacy as a firm. In addition, its Terms and Conditions page only has three paragraphs that mainly focus on activity restrictions and accounts.

This broker has not provided any information on the types of accounts it offers its customers. There is also no information on the trading conditions. Thus, we cannot give you information with regard to the leverage ratios, the spreads, or other necessary details.

FXOptexGroup offers its clients two different account types – one for the individual traders (called the Lord Knight accounts) and one for the exclusive or high net worth traders (called the Royal Highness account).

There is no information provided on the broker’s website about the spreads; all it says is that you need to contact your account manager to find out about the spreads for the Basic and Bronze accounts.

The first thing we checked is the company’s regulation status. Ecoinsvip claims that it is operating under the laws of the UK. However, upon further inspection in its Terms and Conditions page.

IFSL group is a virtually anonymous forex broker as it has not mentioned anywhere on its official website the name of its parent company or where it is based. The only thing they have mentioned in their terms and conditions section is a MiFID directive, which shows that they are operating in the UK or EU area.

Regulation is an extremely important factor for an authentic forex broker. Trading activities in the forex market involve high risk because of two main dangerous factors associated with the forex industry: