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Financial authorities of Australia and New Zealand warn against BrighterTrade

 

Estonian forex brokerage BrighterTrade has recently been blacklisted by two financial watchdogs – the the Australian Securities and Investment Commission (ASIC) and New Zealand’s Financial Markets Authority (FMA).

 

New Zealand’s FMA has warned the public against doing business with BrighterTrade, as the latter is not regulated and could be involved in a scam. Less than week prior to FMA’s warning, the Australian financial watchdog, ASIC, has included the Igoten OU, also known as BrighterTrade, in its alert list of unlicensed companies.

 

According to the regulator, this broker has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) license or an Australian Credit license from ASIC.

 

A lot of people have commented our review of BrighterTrade and it seems that the broker has swindled a number of investors of their money, so we would also advise you to stay away from this scam company.

 

BrighterTrade was established in April 2018 by Ingoten OU. It is headquartered at Harju maakond, Tallinn, Kesklinnalinnaosa, Roosikrantsitn, Estonia. The broker allegedly offers trading in wide range of financial instruments on a web-based platform known as Tradersoft.

 

Generally, we always advise traders to avoid dealing with unregulated brokers, as most of these are involves in investment frauds. There are a number of properly licensed brokers to choose from, like the ones regulated by the FCA or the Australian Securities and Investment Commission.

 

TAGS: ASIC  FMA  BrighterTrade  scam  warning  Australia  New Zealand 
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