The SCB adds DEMO to its warning list On May 1, 2024, the Securities Commission of The Bahamas (SCB) added DEMO to warning list for offering financial services or products without their permission. https://www.scb.gov.bs/wp-content/uploads/2024/05/Public-Notice-4-of-2024-Entities-Not-Regulated-by-the-Securities-Commission-of-The-Bahamas-May.pdf

BrokersView has reviewed that DEMO is an unregulated broker DEMO offers financial services through two websites: txkjym.xyz and penkn.com. The former was registered in April 2024 and the latter in August 2023. However, this brand asserts that it was founded in 2010 and has won awards since 2016. The discrepancy between these claims and the actual website registration dates raises a red flag.Furthermore, while DEMO claims to be registered with the Securities Commission of the Bahamas (SCB), the SCB has added the broker to its warning list, refuting such a claim. This suggests that DEMO is not only unregulated but also potentially fraudulent.In essence, DEMO is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.DEMO appears to be a scam.

Their conditions look attractive. Please help me verify if legit. We strongly advise against accepting any offerings made by DEMO, an unregulated broker.DEMO operates through txkjym.xyz and penkn.com, claiming a founding year of 2010 and award recognitions since 2016. Yet, these sites were only registered in April 2024 and August 2023, respectively, casting doubts on the brand's authenticity. Additionally, despite DEMO's assertion of registration with the Securities Commission of The Bahamas (SCB), the SCB has listed the broker on its warning list as an unauthorized entity. This contradiction points to DEMO's lack of regulation and possible fraudulent nature.In light of this, investors dealing with DEMO run risk of losing their hard-earned money, due to the lack of regulatory oversight. To have a safer trading environment, it is highly recommended choosing fully regulated brokers over unregulated ones like DEMO. View Source