Broker Type: Brokers to Avoid

Is Athens Markets Scam or Legit Broker? No, Athens Markets cannot be considered a trustworthy broker due to its lack of regulation. The broker does not provide any information about its regulations and licenses, making it a risky trading option.  The primary lack of unregulated or offshore brokers lies in their lack of proper regulation, whichRead More

Is HeroFX Scam or Legit Broker? No, HeroFX cannot be considered a reliable option for investment as the broker is not regulated. The lack of appropriate regulatory status and licenses raises doubts about HeroFX’s legitimacy.  It is a well-known fact that engaging with unregulated or offshore brokers carries inherent risks due to their absence ofRead More

Is GOFX Scam or Legit Broker? GOFX cannot be regarded as a reliable option for engaging in Forex trading. The company is registered in St. Vincent and the Grenadines (25865BC2020) and holds a license issued by the Seychelles Financial Services Authority (FSA). Both the Seychelles Financial Services Authority (FSA) and Vincent and the Grenadines FinancialRead More

Is NPBFX Scam or Legit Broker? No, NPBFX cannot be considered a reliable option for investment. The broker does not hold any top-tier license. NPBFX is a trading name of NMarkets Limited. NMarkets Limited is a company incorporated in the Island of Moheli with the license number T2022137, which is regulated by the laws ofRead More

Is Air FX Scam or Legit Broker? Air FX is not regarded as a dependable investment choice due to the lack of regulatory oversight. Air FX is registered in St. Lucia, with the Financial Services Regulatory Authority. However, it does not provide safety for the traders and their investments. Engaging with unregulated or offshore brokersRead More

Is Videforex Scam or Legit Broker? Videforex is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, andRead More

Is Elite Trading Scam or Legit Broker? No, it is not safe to trade with Elite Trading as it is not regulated. Elite Trading is owned and operated by Netbit services and solutions limited, Reg. Number 14718830, Address: Harju County, Tallinn, Estonia.  The broker doesn’t provide any information about its regulation or license and itRead More

  Is TradersWay Scam or Legit? TradersWay is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, andRead More

Is Hugo’s Way Scam or Legit Broker? It is not safe to trade with Hugo’s Way, as it is unregulated. Hugo’s Way is owned by Hugo’s Way Limited which is an offshore company registered in St. Vincent and the Grenadines.  However, the fact is that St. Vincent and the Grenadines is an offshore zone, which doesRead More

  Is Olymp Trade Scam or Legit Broker? After conducting thorough research we found that Olymp Trade is suspected to be a fraud company. It is an offshore company that has no serious regulations. We advise traders not to sign with Olymp Trade. The broker is not regulated and does not comply with strict internationalRead More