✔️ Information reviewed and updated in May 2024 by Pedro Martínez González
As there are more and more traders, the offer of brokers has also increased considerably. With so many different brokers, several have emerged that are not worth investing our money in. Then, How does a trader select a good broker? It is likely that with so much offer, you cannot decide which one to choose.
Well, one of the most important points, one of the things that you should definitely pay attention to so as not to have problems when investing, or more likely, after investing with this type of company, is if the broker is regulated or not. To avoid this type of problem, and many others, we must select one with these characteristics.
Nor should you confuse that a broker is licensed, that it is regulated. We will try to explain this in the simplest way possible. A regulated broker is headquartered and controlled by the regulatory body of the place where the broker is resident. But nothing prevents it from operating in other countries. Let's say there is a broker from Germany, regulated by BaFin, after completing the necessary procedures, it will be authorized to operate in different European countries, such as Spain.
The problem is that if I have a problem with the broker and I'm in Spain, I still have to claim it before the German regulatory body. Taking this into account, the best option would be to operate with a regulated broker in the country where we reside. If we are in Spain, then look for a broker regulated by the Spanish CNMV.
We always recommend trading with properly regulated brokers, which in theory implies ruling out those from countries like Cyprus, Vanuatu, British Virgin Islands, or any small island that is a tax haven or that you didn't even know existed.
Why choose a regulated broker?
Un regulated broker it is one that is under the supervision of a legitimate regulatory body. The objective of this type of organizations is to prevent the broker from exploiting the trader, avoid abusive practices, fraud and deception, that is, protect the client. In general, the broker is controlled more, and its quality and practices are controlled.
The regulated brokers they must follow practices regulated by regulatory bodies. The unregulated, should not follow any practice, in case they do not want to follow it
If the broker is not regulated, we recommend you, at least, think twice before investing with this broker.
How can I know if a broker is regulated?
Know if a broker is regulatedIt is easy, usually a broker, on its website it shows if it is regulated, it usually shows it in an attractive way, since it is something well seen in the broker market, it gives a certain guarantee and legitimacy. If you can't find it on the main page, you can look for sections on the web such as "about us", "why invest with this broker", "regulation", "safety of funds" or sections similar to these.
It is also normal for the broker to provide the registration number, so that one can search and see if it is really regulated or not. If you can't find it in this section, because usually brokers have a chat, or contact section, ask them.
The lack of this type of information on their websites is a sign that NOT REGULATED, since, as we mentioned before, a broker is usually “proud” of its regulation, since it differentiates it from unregulated brokers, and makes the broker at a higher level than an unregulated broker, the regulation of a broker provides some security to the broker's clients.
Some of the most popular regulators are: FCA (Financial Conduct Authority, in the United Kingdom), BaFin (German regulator), FINMA (Swiss regulator), FMA (Austrian regulator), ASIC (Australian Securities and Investments Commission in Australia ) and SEC (Securities and Exchange Commission, in the United States), CNMV (Spain), CONSOB (Italy), CMVM (Portugal), to name a few regulators.
Not sure about a regulator or your broker's security? Do you think it could be a scam? leave us a comment explaining your doubt or problem. We will reply to you as soon as possible!
Hello, I need to know if I was scammed by a broker, how can I find out? I got money and more money and it does not release my earnings, please, how can you help me?
Hello Lisnellys, DO NOT GIVE ANY MORE MONEY, YOU WILL LOSE EVERYTHING, THEY ARE SCAMMERS. If you give us the name and the web we can help you, if they make you pay to rescue your money it is a safe scam.
Greetings.
Hi, I need to know if I was scammed by a broker, how can I find out?
Hello Lisnellys, if you give us the name and the web we can help you, if they make you pay to rescue your money it is a scam for sure.
Greetings.
Investigating to invest I was contacted by https ://forexelite .co/
A broker who works there began to guide and advise me with operations, when I earned an amount greater than what was invested I was able to withdraw money, but the next day they offered me the pro account to operate at higher levels thanks to a bonus, I invested what I had earned again and something else, the account was very positive in earnings until several open operations fell too much and the broker asked me to invest as much as I could so that with the bonus I could close all the operations and leave with profits. I invested all my capital but it turns out that it is not enough, an amount is missing, and the broker pressures me and insists that I ask for a loan, that there is a lot of accumulated profit, I have already invested all my capital, if it is a scam I give it up, but already a loan…. having invested everything... And of course, if I take time, the green operations will drop, I tell him that I don't have any more money and that the bank does not give me loans and pressures me that there is a lot of capital there, that I ask relatives or whoever it is and with more right if I'm stiff…. which is to inject the capital, receive the bonus, close the operations and collect.
Hi Eddy, thanks for commenting on Forexelite. This broker is a SCAM. Do not send them money, they want to get as much money as possible from you with lies, the operations are not real, they do not put the money in the market, they just make it look and in the end they tell you that you have lost and they keep it.
If to withdraw your money they ask you for more to pay taxes, fees, legalizations, etc. DO NOT do it! It is a clear sign that they want to steal your money and they will not return anything even if you pay.
If you have more information about the company, we ask you to share it with us, especially if it is information that you think can help other people investing with this company.
Do you have names of advisers, numbers, emails from which they have contacted you? Do you remember how you found this broker in the first place?
To get your money back, try our chat or this link: CLAIM YOUR MONEY, WE HELP YOU
Greetings.
They contact me from this phone number the supposed adviser is called José +357 97 783288,
When sending money, the recipient is Antilia and the account is as follows: CY90 9020 0001 0000 0201 0100 5869
I wanted to learn about trading, I visited several pages where they supposedly taught and they contacted me
Hello Eddy, before paying money that you will probably lose, you should know the website and the name of the company that will give you the course. Do you have that information?
Greetings.
Good afternoon Eddy
I have also been a victim and scammed by https ://forexelite .co/ and I have filed a complaint, I hope that on your part you also have one, since the more the better and the greater the hopes of an intervention and being able to recover some of the capital or that they do not deceive anyone else.
Hello Jose, thank you for writing about Forex Elite Club. Currently this broker is considered a SCAM.
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.
Hello good, they contacted me from https ://forexelite .co/ to invest with a broker, I started with a low amount, as the account was positive, they offered me to invest more, I withdrew some of the investment and I received it but they offered me a pro account, I invested double, the problem came that now despite having profits I have open operations in total negative that the broker asked me to deposit more to obtain a bonus and thus be able to withdraw the profits I invested all my capital but it does not arrive and they ask me to request a loan to invest what is missing so that with the bonus I can close all the operations, both negative and positive, and with the bonus I would withdraw twice the investment, if it is a scam, my money is already lost, but at least I avoid asking for the loan..
Hi Eddy, thanks for commenting on Forexelite. This broker is a SCAM. Do not send them money, they want to get as much money as possible from you with lies, the operations are not real, they do not put the money in the market, they just make it look and in the end they tell you that you have lost and they keep it.
If to withdraw your money they ask you for more to pay taxes, fees, legalizations, etc. DO NOT do it! It is a clear sign that they want to steal your money and they will not return anything even if you pay.
If you have more information about the company, we ask you to share it with us, especially if it is information that you think can help other people investing with this company.
Do you have names of advisers, numbers, emails from which they have contacted you? Do you remember how you found this broker in the first place?
To get your money back, try our chat or this link: CLAIM YOUR MONEY, WE HELP YOU
Greetings.
Hello, good afternoon, I supposedly made an investment with Nordik Markets, I sent money for the investment, then they told me that there was a profit and they told me that I have to make some payments such as commission, legality, IT taxes, ITF and the last thing I did not pay and now I They say that when I pay the ITF the money will be released, have I been scammed?
And thanks in advance
Hello nels, I think so, you have been scammed, if they insist, don't be in a hurry, don't send money, scammers usually put a lot of pressure on you so you don't think. We are reviewing several reviews at the moment, but we will put yours as a priority to be able to rate this broker. Can you provide us with the website? Thank you.
Hello, I would like to share that I was contacted by Madison Bonet, who claims to work for Nasdaq, Denmark, and offers me to invest in its stock market. But I don't believe her because she wrote me from [email protected] whose domain does not belong to Nasdaq. He called me for almost two hours to explain that I will invest directly in shares of the company that I choose, without using a Broker as an intermediary, but I know that the only way to invest in an international stock market is through a Broker, I am in the right? By the way, I'm interested in investing in stocks.
Hello Michael, they are scammers, DO NOT INVEST ANYTHING ELSE, THEY NEVER REFUND THE MONEY. Thanks for writing about Supreme Markets. Currently this broker is considered a SCAM.
If you want to invest you can check this link: Best Brokers 2023.
If you are a client, do not make more contributions, their only objective is to steal from you, they manipulate operations manually, they keep the money from when it reaches their accounts, it does not enter the market, everything is prepared for you to lose or make you lose your money to have the excuse to keep it.
If you decide to withdraw and they request a ransom in the form of commissions, taxes, fees, legalizations, etc. Never pay it! That's the warning, from that moment you have to know that you are a client of a scam broker and no matter how much you pay you will never see your money.
To help other users or customers, provide as much information as possible, explain how everything happened, where you saw the advertising, who called you, numbers from which you were dialed, emails and everything that comes to mind.
If you want to recover your money go to our chat or check the form in this link: CLAIM YOUR MONEY
Greetings.
Hi how are things,
Nordik Markets Ltd. with registration number 24299 IBC 2017 and with registered office at Suite 305, Griffith
Corporate Center PO Box 1510, Beachmont Kingstown, Saint Vincent and the Grenadines.
(Operating with the
trade name Nordik Markets, www. Nordikmarkets .com) with registration number 24299 IBC 2017, with
registered office at Suite 305, Griffith Corporate Center PO Box 1510, Beachmont Kingstown, Saint
Vincent and the Grenadines.
www .Nordikmarkets .com, how do you see this is one of the first sheets they sent me for the contract.
And thank you
Hello nels, this regulation is a dead letter, it is useless, what's more, all the scam brokers use this regulation to defraud their clients, you will lose the money you invest with them for sure and you will have no way to claim on your own, you you get into a dead end. GREAT CARE!!.
Greetings.
https://webtrader1.ifctgroup .org/mobile/history is reliable
Hello Maria del Pilar, we are reviewing several reviews at the moment, but we will put yours as a priority to be able to rate this broker.
Greetings.
Good morning, thanks for your help, I would like to know if this link is a scam or is it real, thanks – https ://www.kadena .rest/mobile
Hey beanney, we'll go through it and tell you something. Thank you
Hello, I would like to know if IQ Option and Quotex are regulated and trustworthy, Thank you
Hello Bernal, both are scams, you can write the name of these brokers in our search engine and you will find the reviews.
Greetings.
Hello, I would like to know if these two brokers are regulated https://lqxtrading .com/ and https ://limitedexchangepro .com/ or if they are scams.
Hello Roberto, do not rush and even less if you are pressured, we are reviewing several reviews at the moment, but we will put yours as a priority to be able to assess this broker. Thank you.
Greetings.