The US CFTC adds Elite Financial Markets to its RED List On June 12, 2023, the US Commodity Futures Trading Commission (CFTC) added Elite Financial Markets to its RED List for illegal operations: https://www.cftc.gov/PressRoom/PressReleases/8716-23.

BrokersView has reviewed that Elite Financial Markets is an unregulated broker Elite Financial Markets claims to be operated by ELITE FINANCIAL GROUP LTD, a company supposedly registered under the UK with Company number SC679515 and authorized by the International Financial Services Commission of UK (IFSC) under the license numbers 000274/222 and 000274/221. First of all, there is a mistake in the statement: the IFSC, as known as Belize Financial Services Commission (FSC), is based in Belize, not in the UK. Based on the claim, we searched for Elite Financial Markets in the register of the Companies House (CH). While we did locate corresponding records, it is critical to note that the CH only serves as a registrar of companies in the UK and the authority to regulate the financial industry rests with the Financial Conduct Authority (FCA). Therefore, mere registration with the CH doesn't mean being authorized to offer financial services or products, and Elite Financial Markets is required to seek authorization from the FCA before soliciting investors. However, there are no matching data in the FCA registry. As for the Belize FSC, we searched for the company in its register and found no data associated with the entity either. Therefore, Elite Financial Markets is operating outside the regulatory framework.In addition, the US Commodity Futures Trading Commission (CFTC) has added Elite Financial Markets to its RED List for illegal operations.In essence, Elite Financial Markets 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.

The UK FCA issued a warning against Elite Financial Markets On July 13, 2023, the Financial Conduct Authority (FCA) issued a warning against Elite Financial Markets, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/elite-financial-markets-elite-financial-group

BrokersView has identified that Elite Financial Markets' website is currently offline BrokersView found that the domain "https://elitefinancialmarkets.com/en/" is 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.