Broker Type: Brokers to Avoid

Is CryptoAltum Scam or Legit Broker? No CryptoAltum is not considered a reliable company. The broker is registered in the Marshall Islands. However, the broker doesn’t have a reliable license from a top-tier authority. This means that engaging in trading with them could jeopardize investors’ funds. While there may be exceptions, unregulated brokers generally poseRead More

Is FXCL Scam or Legit Broker? No FXCL is not considered a reliable company. The broker is registered in Botswana under the Number UIN BW00005716042. Given that the broker lacks adequate licensing from a reputable authority, engaging in trading with them could jeopardize investors’ funds. Trading with unregulated or offshore-based firms carries the highest riskRead More

Is Golden Brokers Scam or Legit Broker? No, Golden Brokers cannot be considered a reliable broker as it lacks a top-tier license. Golden Brokers Ltd. is authorized and regulated by the Labuan Financial Services Authority (LFSA) with license number MB/19/0030. LFSA is a financial authority in Labuan (Malaysia) responsible for developing and administrating the Labuan InternationalRead More

Is TeleTrade Scam or Legit Broker? TeleTrade cannot be regarded as a reliable broker as it lacks a top-tier license from a prominent regulatory authority. The company is registered in St. Vincent and the Grenadines, a jurisdiction known for its limited regulatory oversight and protection measures and for now operates only via this license. EvenRead More

Is Genetrade Scam or Legit Broker? No, Genetrade cannot be considered a reliable broker due to its absence of a top-tier license. GeneTrade operates under the regulation of the Financial Services Commission (FSC) in Belize with the license number IFSC 270/195. Brokers located in Belize may attract interest because of favorable trading conditions. However, it’sRead More

Is Evolve Markets Scam or Legit Broker? No, Evolve Markets cannot be considered a reliable broker due to its absence of a top-tier license. Evolve Markets LLC is incorporated in St. Vincent & the Grenadines as an international business company with registration number 2788LLC2022. The broker also claims to be regulated by the MWALI InternationalRead More

Is CedarFX Scam or Legit Broker? No, CedarFX cannot be considered a reliable broker due to its absence of a top-tier license. CedarFX is incorporated in St. Vincent & the Grenadines.  St. Vincent & the Grenadines is commonly recognized as an offshore zone lacking the security assurance for Forex trading despite broker registrations. As aRead More

Is HSB FOREX Scam or Legit Broker? No, HSB FOREX is not a reliable company. HSB FOREX is an investment company, yet its lack of a license raises suspicion regarding its legitimacy and regulatory compliance. The lack of information about registration leads us to believe that HSB FOREX is not regulated and is not overseenRead More

Is World Forex Scam or Legit Broker? No, World Forex cannot be considered trustworthy as it lacks a license from a top-tier regulatory authority. World Forex is a brand registered as a trade name owned by the company Existrade LTD. The broker carries a license from the Saint Vincent and the Grenadines. Also, the brokerRead More

Is Anzo Capital Scam or Legit Broker? No, Anzo Capital cannot be considered a reliable broker due to its absence of a top-tier license and rather registration only. Anzo Capital is incorporated in St. Vincent & the Grenadines as an international business company with registration number 308 LLC 2020. Also, Anzo Capital Limited is aRead More