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Page 13
Scam Brokers - Page 13
Suspicious
Unregulated
Suspicious
This company shows several warning signs of potential fraud.
Selected companies: 0.
Please add at least one more company for comparison.
Trade24Seven
Licensed Brokers
(1.8)
15
reviews
trade24seven.com
Date of foundation
Not disclosed
License
Offshore
Suspicious
This company shows several warning signs of potential fraud.
Selected companies: 0.
Please add at least one more company for comparison.
BXB Market
Licensed Brokers
(1.93)
14
reviews
www.bxbmarket.com
Date of foundation
Not disclosed
License
Offshore
Suspicious
This company shows several warning signs of potential fraud.
Selected companies: 0.
Please add at least one more company for comparison.
Finnso
Licensed Brokers
(1.82)
17
reviews
www.finnso.com
Date of foundation
2023
License
Trusted
Suspicious
This company shows several warning signs of potential fraud.
Selected companies: 0.
Please add at least one more company for comparison.
PlusCapitalAdvisor
Licensed Brokers
(1.63)
8
reviews
Link to website
Date of foundation
2020
License
No
Unregulated
This company operates illegally, without a proper regulatory license.
Selected companies: 0.
Please add at least one more company for comparison.
BoForex
CFD Brokers
(1.57)
14
reviews
boforex.com
Date of foundation
Not disclosed
License
No
Suspicious
This company shows several warning signs of potential fraud.
Selected companies: 0.
Please add at least one more company for comparison.
Savexa
Licensed Brokers
(1.93)
14
reviews
savexa.com
Date of foundation
Not disclosed
License
Offshore
Unregulated
This company operates illegally, without a proper regulatory license.
Selected companies: 0.
Please add at least one more company for comparison.
Vourteige
CFD Brokers
(1.42)
12
reviews
vourteige.co
Date of foundation
Not disclosed
License
No
Unregulated
This company operates illegally, without a proper regulatory license.
Selected companies: 0.
Please add at least one more company for comparison.
Oscar Finance
CFD Brokers
(1.62)
13
reviews
oscar-fin.com
Date of foundation
2020
License
No
Suspicious
This company shows several warning signs of potential fraud.
Selected companies: 0.
Please add at least one more company for comparison.
Algobi
Licensed Brokers
(1.74)
19
reviews
www.algobi.com
Date of foundation
Not disclosed
License
Offshore
Suspicious
This company shows several warning signs of potential fraud.
Selected companies: 0.
Please add at least one more company for comparison.
NXG Markets
Licensed Brokers
(1.72)
18
reviews
www.nxgmarkets.com
Date of foundation
Not disclosed
License
Offshore
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Filters
This filter allows you to select which reviews to display. Choose it to see only entries with paid or manipulated reviews, to view only genuine reviews, or choose "All reviews" to reset the filter and display both types of reviews.
With cheating reviews
5
Without cheating reviews
214
All reviews
219
License
Among the most precarious entities are the clandestine platforms devoid of licensing and legal validation. These entities give way to semi-opaque brokers, acquiring licenses from offshore jurisdictions lacking regulatory rigor. Trustworthy brokers, in contrast, secure licensure from esteemed regulatory bodies.
Offshore
84
Trusted
10
No
125
Leverage
Excessive leverage higher then 1:50, a hallmark of disreputable practices, is starkly disapproved by esteemed regulatory bodies. It often serves as a red flag characteristic of scam brokers.
1:10
3
1:20
1
1:30
6
1:50
10
1:100
6
1:200
24
1:300
7
1:400
24
1:500
46
1:1000
32
1:2000
12
Higher
4
Demo account
The absence of a demo account not only reflects a lackluster service provision but also undermines a trader's ability to gauge platform performance without financial exposure. Scam brokers, cognizant of the impetus to expedite client capital erosion, often eschew offering demo accounts.
Yes
102
No
117
Order Execution Model
Only truly large brokers with a substantial client base can afford execution models like STP and ECN. All scams, by default, employ the Dealing Desk (DD) model, inevitably leading to conflicts of interest. It is important to note that the use of the DD model alone does not make a broker fraudulent. However, this is only true if the broker is regulated by an authoritative body capable of resolving such conflicts and investigating contentious situations.
STP
17
NDD
4
DD
208
ECN
10
Other
1
Minimum deposit
A disproportionately high minimum deposit requirement typically deviates from the standards upheld by reputable and transparent entities. The norm for initiating trading activities is around $10, with established brokers often offering cent accounts for accessibility.
$0
-
$15000
Operating Tenure
It is widely recommended by experts to choose brokers with at least 5 years of operation. If you come across a relatively young broker, operational for just a couple of years or even a few months, keep in mind that it could potentially be a scam. Even if it's not a scam, there may be technical issues, as newer projects typically lag behind older ones in terms of performance.
Less than a year
122
A little over a year
32
A few years
40
Over 5 years
23
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