Archives: Flagged Brokers

Zagros does not claim to be licensed by any regulator; it only claims to be registered in Saint Lucia. While we can confirm that there is a company with the same name in the Saint Lucia International Financial Centre (IFC) registry, this registration only grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The IFC neither regulates nor licences forex trading activities. Being unregulated is a major red flag for a fraudulent operation. Therefore, Zagros appears to be a scam.

Finalto Markets claims to be regulated by multiple top-tier authorities, specifically stating it holds licenses from the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). While legitimate entities named “Finalto” are indeed licensed by these bodies, none of their official registrations list the domain name finaltomarkets.com. Furthermore, the ASIC has officially listed Finalto Markets on its warning list. ASIC explicitly identifies this website as an impersonation of Finalto (Australia) Pty Ltd, confirming it is an unauthorized clone. Therefore, Clone Finalto Markets is a scam.

Bold Capholm’s website provides no regulatory disclosures and fails to list basic corporate information, such as its legal entity name, registered address, jurisdiction of incorporation, or contact details. This lack of transparency makes it impossible to verify whether the platform holds any valid license or operates under legitimate oversight. Platforms with these characteristics are often unregulated or fraudulent, posing significant risks to investor funds. Therefore, Bold Capholm appears to be a scam.

Tradeversepro’s website provides no regulatory disclosures, only claims that it was registered in the United States. We searched the official register of the NFA using all available details, but found no record of Tradeversepro or any associated company. This absence of basic corporate and regulatory information strongly suggests that Tradeversepro operates without authorization. Therefore, Tradeversepro appears to be a scam.

ArayFX does not claim to be licensed by any regulator; it only claims to be registered in Saint Lucia. While we can confirm that there is a company with the same name in the Saint Lucia International Financial Centre (IFC) registry, this registration only grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The IFC neither regulates nor licences forex trading activities. Being unregulated is a major red flag for a fraudulent operation. Therefore, ArayFX appears to be a scam.

Dual Trade’s website provides no regulatory disclosures, only claims that it was registered in United Kingdom. We searched the official register of the FCA using all available details, but found no record of Dual Trade or any associated company. This absence of basic corporate and regulatory information strongly suggests that Dual Trade operates without authorization. Therefore, Dual Trade appears to be a scam.

Ishtar FX does not claim to be licensed by any regulator; it only claims to be registered in Saint Lucia. While we can confirm that there is a company with the same name in the Saint Lucia International Financial Centre (IFC) registry, this registration only grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The IFC neither regulates nor licences forex trading activities. Being unregulated is a major red flag for a fraudulent operation. Therefore, Ishtar FX appears to be a scam.

Zielgerade LTD provides a Swiss registered address and claims to be a regulated entity under the MiFID II regulatory framework. However, it fails to explicitly mention the specific regulatory authority, which leads us to believe it may be intentionally misleading or confusing investors. Furthermore, our search in the Swiss Financial Market Supervisory Authority (FINMA) system yielded no results related to this entity. In reality, it has not been granted a license by any regulatory authority. Therefore, Zielgerade LTD appears to be a scam.

Apel Investments claims to be authorized by the Commissione Nazionale per le Società e la Borsa (CONSOB) and the Australian Securities & Investments Commission(ASIC). However, our search of the official CONSOB and ASIC licensee register found no record of it or the stated licence. This discrepancy strongly suggests that the firm’s regulatory claims are inaccurate or deliberately misleading. Besides, Apel Investments does not provide any other licensing information. Until verifiable evidence of legitimate authorization is provided, we assess Apel Investments as a likely unlicensed or fraudulent broker and advise extreme caution.

Fortradefx claims to be regulated by Financial Services Authority (FSA) registry of Saint Vincent on its website. However, the SVG FSA has clearly stated that it does not regulate or licence forex brokers. It only provides registration for IBC companies. To explain its registration as indicating regulation and licensing is clearly misleading. Moreover, we found no results related to Fortradefx in the SVG FSA’s registry, which further raises our concerns about its legitimacy. Fortradefx is not licensed by any recognised financial authority. This is a major red flag indicating fraudulent activity. Therefore, Fortradefx appears to be a scam.