Going offshore to escape the CFTC

I have sent emails to the following brokers and will let you know of their responses soon:

[U]Awaiting Email[/U]:

[B]Alpha Trading CM[/B] – Cannot find location. Has open issues on FPA

[B]ATIG Securities[/B] – Broker from Turkey (first one I have seen). Website

[B]Forex Ukraine[/B]/[B]Forex LTD[/B] – The former has webpages that keep redirecting to the latter. When trying to email [B]Forex Ukraine[/B] directly, the contact form came back with an error. So I emailed F[B]orex LTD[/B] instead.

[U]Bad or Out of Business[/U]:

[B]ATG Marketplex[/B] - Aaron Trading – Websiteno longer works

[B]Hoard-FX[/B] – This broker is a fraud, let’s completely remove them from the list. Source: Belize IFSA
Their website also does not work. DO NOT go to it as it kept redirecting to various links, who knows what it will load.

[U]Other[/U]:

[B]Back Bay FX[/B] – Appears to be an IB out of Boston, Massachusetts. Website

[U]Purging a couple of shifty brokers from our List[/U] —

• I think the evidence points to major problems at [B]Varchev Financial (Bulgaria),[/B] and I’m ready to remove this broker from Group 1. — Comments on Varchev?

• [B]Even Forex (Dominica)[/B] is another broker which doesn’t belong on our List, in my opinion. I regret having added them to Group 1 just a few days ago, and I now believe they should be relegated to Group 2. They don’t seem capable of giving a straight answer to the simple question “Do you accept U.S. clients?”. And the fact that their website lists 4 email addresses for contacting them, and [I]not one of those email addresses is active,[/I] really makes me suspicious. Too shifty for my taste. — Comments on this one?

If no one on this thread can make a good case for retaining either, or both, of these brokers, I will move them to Group 2 by the end of this week.

I hate to see our list of friendly brokers in Group 1 shrink even further, but it is what it is.


Edit: Varchev Financial and Even Forex have been removed from Group 1.

I am definitely in agreement with you on [B]EvenForex[/B]. While our aim is to simply provide a list of brokers willing to accept clients from the United States, I wouldn’t want to see members of our community trying them out. Honestly, the chat service was horrendous.

I just called the Varchev London office and they told me they don’t accept US clients. When I mentioned that “several members” were trying to email them but weren’t receiving responses. The response was the following (Verbatim):

“Uh-huh, well we don’t accept US clients, sorry.”

Then he hung up.

Remove them too.

Just went through the list. The only one not on our list that would be added is Larson & Holz: https://www.lh-broker.com/

Has USA as a country choice in the registration area. Currently they are not available to chat and I cannot find any definitive information on their website.

I went through that list, as well, and eliminated every broker on it [I]with the possible exception[/I] of Larson&Holz.

My concern regarding that broker is the Russian connection: it appears to be an unregulated Russian outfit using a Caribbean registration address — either BVI or St Vincent (but not Belize as indicated on the ForexChurch site).

Needs further vetting, before we can consider adding it to our List.

Apparently, they are in India, based on these listings in Bing, Google, etc. —

Forex Trading Company in India | Alpha Trading CM
Forex Trading Company in India | Alpha Trading CM
Start Forex Trading in India. Alpha Trading CM is a leading online Forex trading company. Join us today and get cutting edge Forex signals absolutely free for your …

Forex Currency Trading in India - Top Forex Rates …
Forex Currency Trading in India - Top Forex Rates | AlphaTradingCM
Forex Currency Trading. Alpha Trading CM offers 60 currency pairs to trade on our platform; Automated, anonymous system that matches buyers to sellers.

Furthermore, it appears that they do not welcome U.S. clients, as U.S. cannot be selected in the drop-down menu on the page for opening an account.

First one I’ve seen, as well. They are a 2-year-old broker domiciled in Istanbul, Turkey.

It appears that they welcome U.S. clients.

I had a hard time finding basic information on their website — like spreads, for instance — but, the English-language text is grammatical and easy to read.

This broker is worthy of further vetting.

We can forget Forex Ukraine. Evidently, they refer inquiries from certain countries (the U.S., and probably the U.K. and Canada, as well) to Forex LTD (UK), and we already know those guys won’t deal with us.

Here is a list of all the brokers in Group 1 and Group 2 on our List, in alphabetical order.

Edit — the alphabetical list of brokers has been moved to post #4 in this thread.

A wealth of misinformation

I was on the PassMark site, browsing computer cpu specs, when I noticed a banner at the top of the page touting the “10 Best Forex Brokers”. So, naturally, I had to check it out. I was directed to the DailyForex site, where I eventually landed on THIS PAGE.

The list on that page is supposedly tailored for U.S. clients. The blurb at the top of the list discusses the special limitations faced by U.S. traders searching for brokers, either here or offshore.

I hold DailyForex in high regard in most cases, but their list of top-rated brokers for U.S. clients is a disappointment. Here is their list:

  1. Forex.com
  2. FXCM
  3. ForexBrokerInc
  4. eToro USA
  5. Oanda
  6. Saxo Bank
  7. Dukascopy
  8. FX Solutions
  9. Zecco
  10. Markets.com

Okay, 1., 2., 3., and 5. are good recommendations.

Then the list gets sketchy.

  1. eToro USA is an IB for eToro (Cyprus),
    and their website says that they are not (yet) available to U.S. clients.

  2. Saxo Bank (Denmark) does not accept U.S. clients.

  3. Dukascopy (Switzerland) does not accept U.S. clients.

  4. FX Solutions (US) is out of the forex brokerage business.

  5. Zecco has been merged into TradeKing (US) — see additional comments below.

  6. Markets.com (Cyprus) does not accept U.S. clients.

So, once again, it seems that the List we have compiled here on Babypips is more accurate and more up-to-date than anything else out there.

An interesting additional note:

Regarding TradeKing/Zecco: this broker (located in Charlotte, North Carolina) requires more initial margin than the CFTC dictates. In other words, they offer less leverage than the already-restricted 50:1 CFTC maximum.

In a standard account (trading 100,000-unit standard lots), this broker requires available margin of $2,500 (which is 2½% margin = 40:1 leverage). And in a mini-account (trading 10,000-unit mini-lots), they require available margin of $500 (which is 5% margin = 20:1 leverage).

Opened a Profiforex account last Wednesday.
So far I have completed a total of two deposits to the account. Support is available by chat even on Sunday! I will attempt a withdrawal and update everyone when I do that.

Hello, Dreher — Welcome to Babypips, and welcome to this thread.

Let us know how things work out with Profiforex.

I’m considering a reorganization of the first three posts on this thread — the posts containing our List.

Specifically, I’m thinking about

• combining post#1 and post#2 into a [B]new post#1[/B] which will contain all of Group 1
(brokers who [B]will[/B] do business with us)

• moving all of Group 2 (brokers who [B]will not[/B] do business with us) to a [B]new post#2[/B]
(from its present location in post#3)

• placing the alphabetical index of all the brokers we have vetted (see HERE) in a [B]new post#3.[/B]

Comments?

Edit — The reorganization could not be done as outlined above for technical reasons having to do with post size-limits. However, a different approach was taken, and the first 4 posts on this thread now look a little different than before. Check it out.

Hello Clint, hope all is well. You asked me to give a report on my experience with Forex Broker, Inc. It was a while ago, but I have been trading with Profiforex mostly since then using a different strategy that was not conducive to this brokerage. BTW, Profiforex is an excellent brokerage.

There have been two disappointing experiences with Forex Broker, Inc. I can say to their credit that they did return my deposit both times, so it was not a loss of capital that I experienced, just a loss of time which is much more valuable than money. Money cannot buy time.

The 1st disappointment was regarding inquiries with their online chat, support department, and the assigned manager about the # of open orders allowed. They all claimed to allow unlimited # of open orders with no problems. After making a $1,000 deposit and opening several accounts, my strategy opened 500 orders per account on the 1st day. Their Dealing Desk contacted me before the morning via email requiring me to close out the orders because it was a drain on their servers. I was surprised, because after contacting their staff and reading their terms and policies I was convinced they allowed “unlimited open orders.” I informed them about the confirmation received regarding unlimited orders from their staff and terms and policies, but they responded by demanding the orders be closed immediately or they would close them for me. Well, I was not going to take a loss because of their incompetent staff, so I left the strategy continue as it was. They closed all orders, froze all accounts, and refunded the deposit by the next morning. I was grateful for the refund, but told them to counsel their staff and change their terms and policies if they were going to be two-faced hypocrites.

The 2nd disappointment just happened last week. Only using a buy and sell breakout strategy for different market session openings and news events. The strategy sent hard take profits and stop losses to their servers, but were closed before and after the stops as a loss on several trades. I chatted with them online about it, and was told to contact their Dealing Desk again. It was only about $5 loss, because I was just testing the strategy in the live market, but a principle is worth dying for. I requested the restoration of the equity immediately, providing evidence of the trades from the MT4 Experts Tab, Journal, and Logs, but they claimed that my IP Address closed the trades. I refuted their lame excuse with the evidence of the orders being closed before and after the hard stops sent to their servers, and informed that that the same algorithm was being traded on another brokerages MT4 from the same private server at the same time without any issues. They responded by accused me of fraud, and referred the case to their Anti-Fraud Department, because my strategy appeared to be using an arbitrage strategy. What a joke! The next day, they closed my account, again refunded the minimal $300 deposit, and informed me that they would not do business with me anymore.

It does not benefit me to post this report. It is for the benefit of others to beware of the character of this broker, which claims to specialize in service to “USA and Japan” customers for some reason.

Best regards
P.S. I will not be posting on FPA or any other forum about my experience with this brokerage, this is for the benefit of this thread, but if this post is not appropriate for this thread, please just delete it.

Here is a snapshot of the trades and correspondence.
On Mon, Nov 24, 2014 at 12:59 AM,
To Whom It May Concern;
Your server is closing trades in my account without my authorization. Please see all of the trades highlighted in yellow. They all have a comment “pending” except for the last one that says “stoploss”, but they were all in violation of the set “stoploss” or “takeprofit” parameters that I initially sent to your servers upon opening the trades. Please restore the equity for these trades in the account immediately.
Sincerely,

TRADES CLOSED BY FOREX BROKER, INC.
14824106 2014.11.20 06:14:39 buy 0.01 usdjpy. 118.466 118.265 118.765 2014.11.20 0723 118.622 0.00 0.00 0.00 1.32
123 pending
14821492 2014.11.20 0036 sell 0.01 nzdusd. 0.78384 0.78594 0.78094 2014.11.20 08:00:00 0.78404 0.00 0.00 0.00 -0.20
123 pending
14831924 2014.11.20 1738 sell 0.01 usdcad. 1.12988 1.13193 1.12693 2014.11.21 07:01:34 1.13083 0.00 0.00 0.00 -0.84
123 pending
TRADES CLOSED BY FOREX BROKER, INC.
14855638 2014.11.21 10:01:09 buy 0.01 eurusd. 1.25494 0.00000 0.00000 2014.11.21 10:03:01 1.25513 0.00 0.00 0.00 0.19
123 pending
14855639 2014.11.21 1016 sell 0.01 eurusd. 1.25371 0.00000 0.00000 2014.11.21 1038 1.25420 0.00 0.00 0.00 -0.49
123 pending
14860731 2014.11.21 1557 buy 0.01 usdcad. 1.12695 1.12534 1.12934 2014.11.21 1500 1.12258 0.00 0.00 0.00 -3.89
123 stoploss

On Sun, Nov 23, 2014 at 4:03 PM, Dealing ForexBrokerInc wrote:
The information you have provided is being investigated and you will be emailed with the results of the investigation as soon as possible.
Thank you for your patience.
Kind Regards
Dealing Team

From: Dealing ForexBrokerInc
Sent: Monday, November 24, 2014 4:23 AM
Subject: Re: Trades Closed by Forex Broker, Inc Without Authorization
Thank you for your email.
In regards if our server is closing trades without your authorization, please note that our clients are dealing straight with our liquidity providers, without us using a dealing desk in between.
Also please note that any pending or completed requests regarding a trade, are saved in our server journal , where is showing clearly the ip address from where the request came from.
In regards for the “pending” commend, that means that the trade was originally a pending order that got triggered when the Market reached the price you set.
If the trade will close at the T/P or S/L price then the command will change accordingly.
If the trade will close manually then the “Pending” will remain on comment.
Also “Pending” commend can also be added by an Expert Advisor.
Here is an example for trade 14824106 in order to clearly understand that the request for its closure came from your ip address(for the other 5 trades please see attached file)
There are 2 possibilities that you are experiencing this :
a) You are using an EA or a Script without been aware of.
b) A third person from your household has access to your trading account.
In order to eliminate these 2 possibilities please re-install your platform from the link below and change your account password.

As you can clearly see all trades were executed and closed by your Ip and therefore we cannot proceed with your refund request.
Thank you for your understanding.
If you would like any other help or information, please do not hesitate to contact us again.

On Mon, Nov 24, 2014 at 4:42 PM,
To Whom It May Concern;
Thank you for your investigation. I am using an expert advisor, and it was the same exact expert advisor being used on another brokerage’s MT4 platform at the exact same time, trading the exact same strategy, with the exact same set parameters, on the exact same currency pair, located on the exact same private server, and the trades were executed seamlessly, and closed at the set parameters that were sent to the brokerage’s server, not before or after like Forex Broker, Incorporated’s servers.
So you Forex Broker, Incorporated is working against their clients trades, and not respecting their clients set parameters that were sent to the servers as “hard parameters,” and now your department is refusing to accept responsibility for your actions, and blaming your clients of closing trades premature to their set parameters that were sent to Forex Broker, Incorporated’s servers, because “your investigation” states that the close requests were made from the IP Address of the exact same Private Server where the other brokerage’s MT4 platform executed the trades without any “manipulation.” If the stoploss parameter of order#14860731 2014.11.21 1557 buy 0.01 usdcad. 1.12695 1.12534 1.12934 2014.11.21 1500 1.12258 0.00 0.00 0.00 -3.89 123 stoploss was sent to “your trading server,” and the reason for the close in the comments is “stoploss” how could “your clients IP address” be responsible for that trade being closed 276 points past the “sent hard stoploss parameter” held by Forex Broker, Incorporated’s servers?
You will be held accountable by Another Person if you refuse to hold yourselves accountable for your actions.
Sincerely

---------- Forwarded message ----------
From: Dealing ForexBrokerInc
Date: Mon, Nov 24, 2014 at 9:09 PM
Subject: Re: Trades Closed by Forex Broker, Inc Without Authorization
We are writing to inform you about your account that during our investigation for your requested trades our Anti-fraud Department has brought to our attention that the trading patterns in your Account raise serious concerns. For this reason your account is now on hold for further investigation.
We would reply you within 24 hours.
Thank you for your co - operation and patience.
Kind Regards,
Dealing Department

From: Dealing ForexBrokerInc
Sent: Tuesday, November 25, 2014 10:05 AM
Subject: Re: Trades Closed by Forex Broker, Inc Without Authorization
Dear Investor,
We are writing to inform you that we decided to return you your funds $300 along with your profit $25.44 and terminate our relationship. The report from our Anti - Fraud Department shows that in total you have placed 81 orders from which 44 were cancelled and 26 out of 37 were using arbitrage scalping strategy.
Even thought WE ACCEPT NEWS TRADING AND SCALPING, FOREX TRADING ARBITRAGE STRATEGY PATTERNS ARE NOT TOLERATED.
Also considering your previous history with Forex Broker Inc, we wish no longer to cooperate with you.
Thank you for your understanding and we wish you the best of luck in your future trading experience!
Kind Regards
Dealing Department

To Whom It May Concern;
Oh, give me a spineless break! The breakout strategy that was employed during the exchange session openings and news events have nothing to do with arbitrage strategies. Please inform the managers of both the Dealing Desk and Anti-Fraud Departments that they seriously need to train their staffs as both departments have no competence in trading strategies and lack the character and courage to face the truth and take responsibility.
Thank you very much for returning the investment capital. I am grateful not to waste my time with characters of your type.
Best regards

There is a thread here at babypips titled: “FinFX Brokerage Overview”. In the first post of that thread it says, “It appears that Finland doesn’t consider Forex trading as an ‘investment’ on part with equities and such. Thus it’s unregulated. This is probably a big reason why it’s easy for U.S. customers to get set up here”.

That thread (and that particular post I mentioned above) was created 2 years ago. My question is: Is it [U]still[/U] true that the country of Finland is unregulated, in regards to their forex brokers?

I ask this because there is a broker from Finland named “FXtradeweb”, and on their website under FAQ it says:

[B]Question:[/B] “What regulations do you have?”
[B]Answer:[/B] “FXtradeweb OÜ is a registered Financial Services Provider for the Provision of Currency Exchange Services. Registration code VVT000310 registered by The Ministry of Economic Activities Estonia, a member of the European Union.”

Sooo… does that mean FXtradeweb is regulated?

I am just trying to figure out if Finland now has regulation for their forex brokers, and if FXtradeweb (of whom is from Finland) is regulated.

Your post is the longest post I’ve read in a while. I guess you had a lot of stuff to get off your chest.

You certainly changed your opinion of Forex Broker Inc in the 9 months between THIS POST and now.

If I correctly understand your first bad experience, your basic quarrel with Forex Broker Inc was that you believed they would allow you to hold an unlimited number of open positions — BUT, they decided to cut you off because your automated trading system placed 500 trades in one day, and they said that this was putting their servers on [I]Full Tilt.[/I] Have I got it right, so far?

Maybe the problem is the definition of “unlimited number of open positions”.

I can envision a situation in which a trader with one or more robust EA’s, running on some heavy-duty home computer equipment, could burden just about any retail broker’s system capacity. And I’m thinking that the broker in such a situation has the right — and, indeed, the necessity — to relieve that burden, by limiting or banning that trader.

I’m wondering: When you did your due-diligence on Forex Broker Inc, did you discuss candidly with them your intention to place 500 orders per day?

As for your second bad experience with this broker, I don’t think I quite understand the entire sequence of events, and all of your correspondence back and forth. But, it’s possible that, by the time I got to that point in your post, my eyes were glazing over.

I’m glad that you got your funds returned to you from Forex Broker Inc. And I’m glad to hear that ProfiForex is living up to your expectations.

Thanks for the reply Clint. No, actually I put the details in just so other traders would know the duplicity of the character and competence of this brokerage staff. Over the last 5 years I’ve lost $10,000s in the Forex Industry, which isn’t a big deal, but it has been disappointing that there are so many schemes out there, and the ways the different brokerages structure their account parameters making it necessary to put each one through an interrogative check list before even beginning to test different strategies on their platforms.

[/QUOTE]You certainly changed your opinion of Forex Broker Inc in the 9 months between THIS POST and now. [/QUOTE]

Their Customer Service was great at the beginning, but once they get your money, its another story. My experience with this broker has proven it.

[/QUOTE]If I correctly understand your first bad experience, your basic quarrel with Forex Broker Inc was that you believed they would allow you to hold an unlimited number of open positions — BUT, they decided to cut you off because your automated trading system placed 500 trades in one day, and they said that this was putting their servers on [I]Full Tilt.[/I] Have I got it right, so far?

Maybe the problem is the definition of “unlimited number of open positions”.

I can envision a situation in which a trader with one or more robust EA’s, running on some heavy-duty home computer equipment, could burden just about any retail broker’s system capacity. And I’m thinking that the broker in such a situation has the right — and, indeed, the necessity — to relieve that burden, by limiting or banning that trader. [/QUOTE]

I agree with you about the problem it could cause for their servers for an enormous amount of orders to be sent rapidly, but just upfront with me. Don’t flatter me with lies and then change your story after I invest my time proving my strategies are successful on your demo accounts, and then tell me that it is not allowed on your live accounts.

[/QUOTE]I’m wondering: When you did your due-diligence on Forex Broker Inc, did you discuss candidly with them your intention to place 500 orders per day?[/QUOTE]

Yes, when I inquired of their chat personnel, support staff, and assigned manager about my intentions of opening over 1,000 orders per day on many accounts, not just 500, they uniformly said “no problem”, but obviously they do not work in the Dealing Desk Department.

[/QUOTE]As for your second bad experience with this broker, I don’t think I quite understand the entire sequence of events, and all of your correspondence back and forth. But, it’s possible that, by the time I got to that point in your post, my eyes were glazing over.[/QUOTE]

I hope no one else has any problems with them, but if their trades are closing before the “hard stops” that were sent to the broker’s servers, the details are here as a testament of their previous behavior.

[/QUOTE]I’m glad that you got your funds returned to you from Forex Broker Inc. And I’m glad to hear that ProfiForex is living up to your expectations.[/QUOTE]

Thank you for all the time you devote to this forum and this thread for the US Traders in particular. It was very resourceful for me when I needed it. I am an Expatriate now, so the playing field is much bigger. Best regards

Been away for a bit. However I just got an email today from Trader’s Way indicating that they now accept PayPal so I wanted to pass it along. The only other broker I know of that accepts US clients and also has a PayPal account is AssetsFX. I deposited using PayPal with AssetsFX and they covered half of the PayPal transaction fees. I am sure you guys know about others who do too.

I feel much better using PayPal than having my processed God knows where. I am surprised that a lot of these brokers don’t use it. Perhaps PayPal makes it difficult for these brokers to open an account.

I’ve scanned the other threads here on the Forex Brokers forum, looking for brokers that we have not yet vetted here in the Offshore Brokers thread. Of the names that popped up in those other threads, I have determined that the following brokers will not accept U.S. clients, and I will be adding them to Group 2 in our List:

AvaTradeEU Ltd (Ireland)

Ava Capital Markets Australia Pty Ltd (Australia)

PrimeFX (New Zealand)

Tenko FX (New Zealand)

XM.com (Cyprus / New Zealand) — see Trading Point (Cyprus)

XE Markets (Malaysia) — see Trading Point (Cyprus)

IV Brokers (Belize)

Gallant Capital Markets (B.V.I.) — see Yadix (B.V.I.)

Sterling Gent Trading Ltd (B.V.I.)

Yadix (B.V.I.)

Gainsy Inc (St. Vincent and the Grenadines)

Edit — the 11 brokers listed above have been added to Group 2 in the Offshore Broker List

The following brokers require further vetting, and will not be added to our List at this time:

FXT Swiss (Switzerland) — out of business ?

Vector Securities (Russia) — accepts U.S. clients ?

ATIG Securities (Turkey) — accepts U.S. clients ?

FXDirect Group AG - FXD24 (Panama) — accepts U.S. clients ?

PFG FX (British Virgin Islands) — accepts U.S. clients ?

Larson&Holz (B.V.I. / St. Vincent ?) — accepts U.S. clients ?

Prime FX Market — primefxmarket.com — ?


Hearing no objection to my suggested reorganization of the first three posts in this thread, I will plan to do that reorganization sometime this week.

If you don’t know what I’m talking about, scroll back to post #2332 for an explanation.

MRC Markets are cheats. I had an account with them over 10k. It is over 4 months since I closed my account however, my application for withdrawing funds are still in pending with them. My story is up on Forex Peace Army. I strongly suggest discarding MRC Markets from your lists as a broker so that no one has to suffer like me.

Our Offshore Broker List applies only one filter to the scores of international brokers that we vet:

Will they do business with U.S. residents?

If they will, they are added to Group 1 on our List. If they will not, they go into Group 2.

Our List should not be taken as a list of “recommended brokers”, without further due diligence.

Most participants on this forum would probably tell you that our List represents a “mixed-bag” of brokers, as far as strength, stability, honesty and reliability are concerned. A few of the best brokers in the world are on our List. And a few rascals are on it, as well.

We try to warn our readers of potential problems with the brokers on our List, when those problems come to our attention. Your experience with MRC Markets certainly warrants a warning to our readers, and I will add a reference to your post #2339 in the MRC entry on our List.

Welcome to Babypips, and welcome to this thread, by the way!

_____________ EDIT ______________

After posting my comments above, I attempted to access the MRC Markets website, using the link in our List, and it was blocked by my anti-malware app. Instead of the MRC website, I got this pop-up:

Malwarebytes Anti-Malware
Malicious Website Blocked

www. mrcmarkets.com

I.P.: 178.236.137.236
Port: xxxxx
Type: xxxxx
Process: xxxxx

Note: I put an extra space in the web address above, so that it would not print as a link in this post.

I will add a further warning in the entry for MRC Markets, regarding the website problem.

If these issues are not resolved within one week from today, I will purge MRC Markets from our List.

Further comments?

Please exercise EXTREME caution with Forex Broker Inc! Their emails state that they are from Belize (as did their website previously). I got promotion email yesterday with their old address still at the bottom:

ForexBrokerInc
Suite 102, Corner Eyre Hudson
Belize City, 102
Belize

The company used to be operated by “Noble Services Ltd” according to the website previously (as I clearly remember it written at the bottom) as well as on an a notice from the Malta Financial Services Authority:

Warning: Forex Broker Inc is not Regulated by MFSA - Forex Conclusions

This was earlier in the year. Now, go down to the bottom of the CURRENT Forex Broker Inc website and look at the new address AND company name:

The website Forex Broker Inc | Forex Trading | CFD Trading is operated by Gridley Enterprises SA., a company incorporated in the Republic of the Marshall Islands with registered address at Ajeltake Road, Ajeltake, Majuro, Marshall Islands and incorporation number 695l5.

Thus, the broker is simply an IBC that is bouncing around its ownership. It should NO LONGER be considered regulated by Belize for our purposes (we do not know whether or not it was ever regulated).

BE CAREFUL