Reported as a scam / unregulated
Why BOGS Markets is on the register
BOGS Markets claims to be an authorized broker under double supervision, including the United States NFA regulation (ID: 0523413) and Canada MSB authoritative supervision (ID: M19911333). However, Canada MSB license is approved by the Canada Fintrac which doesn’t regulate forex markets nor issue licenses for brokers engaging in such activities. So please beware of brokers claiming their MSB regulation by Fintrac, since they are actually unlicensed. Besides, we indeed found a result matching this broker in NFA’s registry, however, BOGS Markets is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a “retail forex exchange dealer.” Obviously, BOGS Markets doesn’t satisfy these conditions. That means, this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.