Sponsored By
de | cn | ru

Market News

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 
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website

More Forex Market News

Italy's CONSOB blacklists forex broker Capital Swiss FX

Dec 11 2018 14:30:54

  Italy's financial markets regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) has updated its warning list with offshore forex broker Capital Swiss FX on Monday. Read more

The FCA considers banning binary options and restricting CFD trading permanently

Dec 07 2018 10:12:02

  The UK Financial Conduct Authority (FCA) has proposed permanent ban on binary options, as well as permanent restriction on the sale, marketing and distribution of contracts for difference (CFDs) and similar products to retail investors. Read more

UK’s FCA updates its warning list with Easy FX Trade and TradeBNP

Dec 05 2018 14:24:51

  The UK’s Financial Conduct Authority (FCA) added to more unregulated brokers to its warning list: Easy FX Trade and TradeBNP. According to the regulator, neither of them is authorized to provide financial services in the UK, but they are nonetheless targeting local investors. Read more

BaFin orders FXCM clone to cease operations

Dec 04 2018 16:18:15

  The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has ordered FXC Markets to immediately cease offering investment services and advice to German investors. Read more

ASIC cancels the license of forex broker Berndale Capital

Dec 03 2018 12:43:20

  The Australian Securities and Investments Commission (ASIC) announced it has cancelled the license of Melbourne based forex and CFD broker Berndale Capital. ASIC found that the broker failed to comply with a number of requirements it has pursuant to Australian laws. Read more

UK's FCA warns of Cryptonix Team / VIP Crypto

Nov 30 2018 15:13:09

  The UK’s Financial Conduct Authority (FCA) added Cryptonix Team and VIP Crypto to its alert list on Friday. The UK financial watchdog warned investors to be especially wary of dealing with these unregulated brokerage brands, which are operated by an unauthorised firm. Read more

Germany’s BaFin ordered UB4Trade to cease trading operations

Nov 28 2018 10:29:16

  The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has ordered UB4Trade to cease offering cross-border proprietary trading services to German investors. Read more

UK’s FCA warns against binary options brokers Polarity Index and AG Capitals

Nov 26 2018 14:24:29

  UK’s financial markets and services provider, the Financial Conduct Authority (FCA), blacklisted Polarity Index and AG Capitals on Friday. According to the regulator, these binary options brokers, that also offer account management services, are illegally targeting local citizens. Read more

CySEC warns against unregulated forex broker ECN Capital

Nov 22 2018 14:42:00

  The Cyprus Securities and Exchange Commission (‘CySEC’) issued an announcement-warning on Wednesday with regard to ECN Capital - a forex brokerage brand that is not authorized to provide investment services and/or perform investment activities in the country. Read more

China has granted its first forex broker license

Nov 20 2018 13:32:40

  The Chinese government granted the first forex license to Hong Kong-based brokerage Guo Tai Jun, the Chinese Forex Trading Center reported on Monday. Read more

de | cn | ru