Thread: Is your broker really regulated? Watch out for ghost licenses

I always use brokers with CySEC and FCA. They won't be perfect, but if you mess up I have someone to claim.

And what good is it to claim if it takes two years to give you back something?

There is a broker that boasts regulation in Seychelles. I checked and the regulator there has no website with a public search engine. It’s like trusting your money to a mailbox.

Many confuse being on CNMV’s list with being regulated. It’s not the same thing.

Add another: some brokers clone the license number of another real company. You put the number on Google and you get a company headed in London, but the broker operates from a tax haven.

That's serious, that's already bordering on the criminal.

It happened to me with one who claimed to be regulated by ASIC and when I went to check it was a company with a very similar but completely different name. A dirty but effective move.

Can we put names or this forum also censor certain sponsors?

I got blocked off a post weeks ago for naming a broker, so you better use initials or erase everything.

I find it regrettable that we have to speak with fear. Where is freedom of expression if you cannot warn others?