Scam Brokers

However, Petrades doesn’t mention spreads and leverage levels for each of these accounts. In addition to this, it is offering Prime, ECN, and R Trader accounts which are said to be on promotion where the customer can start trading with funds as low as $500 or even $100.

Mskfinance10 has not mentioned much information about the types of accounts and the conditions related to each type of account, except that they are offering a real account and a demo account.

On the broker’s website in the footer section, it is mentioned that NeoTrade is owned and operated by Donnybrook Consulting Ltd which is based in the Dominican Republic.

Global ventures is an undisclosed shady forex broker who has not even provided much information about its regulation. All you can manage to find out is that Bulgarian laws govern this broker.

New Traders Holdings claims to be owned and operated by a renowned and reputable regulatory authority but they do not mention which regulatory authority is regulating them.

Baquote claims to be regulated and authorized by the Registrar of Corporation of the Republic of the Marshall Islands with the name Baquote Ltd. This seems to be an official statement but it is not more than a false claim.

The company’s website indicated that the address of this broker is in the Marshal Islands. What this means is that their location is in the offshore zones wherein no financial regulator is needed to register the forex company.

VAKSC Markets claims to be an international forex broker based in the UK. On their website, they have shown the address of St. Vincent and Grenadines.

Triton Capital Market has only mentioned the account types and its minimum initial deposit amounts. However, they have not provided any information on the spreads and leverage levels.

UnixBroker has only mentioned the account types it is offering to the clients for trading and the leverage levels of each account. It has not mentioned any details regarding the minimum deposit amount of each account or spreads.