The UK FCA issues a warning against BITFOREX TRADE Update on Aug 28, 2024: The Financial Conduct Authority (FCA) issued an updated warning against FOREXMAVERICK. https://www.fca.org.uk/news/warnings/bitforex-trade-bitforextrade Historical records: On August 16, 2023, the Financial Conduct Authority (FCA) issued a warning against BITFOREX TRADE, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/bitforex-trade-bitforextrade

BrokersView has reviewed that BITFOREX TRADE is an unregulated broker Firstly, while BITFOREX TRADE claims to be based in the US, it remains an illegal forex broker as there are no official data from the National Futures Association (NFA) suggesting that it is properly licensed to engage in forex trading and brokerage in the US. This is a red flag.Secondly, its website showcases a certificate from the Companies House (CH) to appear legitimate. However, the CH only serves as a registrar of companies in the UK and has no authority to issue financial licenses. Mere registration with the CH doesn't mean the authorization for financial business. More importantly, the UK financial watchdog, the Financial Conduct Authority (FCA) has issued a warning against BITFOREX TRADE, warning the public about this unauthorized firm.In essence, BITFOREX TRADE is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

BrokersView has identified that BITFOREX TRADE's website is currently offline BrokersView found that the domain "https://bitforextrades.live/;http://www.bitforextrades.live/" are currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.

Is BITFOREX TRADE regulated in Britain? BITFOREX TRADE is not regulated in the UK, as evidenced by the warning from the Financial Conduct Authority (FCA), the UK financial watchdog.This is a red flag that BITFOREX TRADE, the allegedly US-based broker, isn't registered as a member of the National Futures Association (NFA).While its website showcases a certificate from the Companies House (CH) to appear legitimate, mere registration with the CH doesn't mean the authorization for financial business. What's more, the FCA has red-flagged BITFOREX TRADE and issued a warning against this unauthorized firm.Therefore, BITFOREX TRADE is an unregulated broker. Without regulatory oversight, individuals dealing with the platform are exposed to fraud and identity theft, and they may not be able to recover their funds or seek compensation from any official body if things go wrong. To safeguard investors' interests, it is advisable to choose a fully regulated broker instead. View Source