Scam Brokers

It is mentioned in the footer of the broker’s website that the website is owned and operated by BRS Futures Ltd – a company that is based in the UK and is listed in the FCA’s database as a regulated firm.

The trading conditions though weren’t stipulated on the website. So, we can’t discuss the margin requirements for each account as well as the spreads and leverage ratios.

Neural 4X is a forex broker who is operating with a complex regulatory status. It does not hold a license of the country from where it is operating “the Bermuda country”. However, a connection was found between Neural4X and Notesco UK limited to a company registered in the UK’s FCA database.

The official website of the ExceedFX reveals that Marshal Islands is the location where this broker resides and is owned and operated by a Marshal Islands-based offshore company named Dias Capital Inc.

Upon researching the official website of the XGlobalMarket, you will come to know that this broker is no more than an unregulated entity because there is no indication that the broker is holding a legit license from any regulatory authority.

The website of SmartFX does not state any details related to the trading conditions such as spread levels. There is only mentioned an unfulfilling spread value of 3 pips in the demo account for the EUR/USD currency pair.

Stock trading capital is a dubious broker who falsely claims to be licensed in Malaysia, Hong Kong, and St. Vincent, and Grenadines. If you notice out of these three countries, St. Vincent and Grenadines is an offshore area, which does not regulate the forex market.

The only thing that you will be able to find out about Tradeditional on its official website is an address of Zurich, Switzerland. Apart from this, there is not any parent company name mentioned nor any registration number or other details related to the regulatory status of this broker.

NextCap has mentioned on their website the types of trading accounts while there is no information mentioned related to the trading conditions and minimum deposit requirements. Whereas, all legit brokers never miss such a piece of important information to mention.

There isn’t any mention of the trading accounts and conditions on their website. The core of this broker’s business is a partnership program, which is actually an MLM scheme.