Two unauthorized brokers Exposed

On 05 Feb, 2024 The UKs Regulator Financial Conduct Authority (FCA) exposed two fraudulent brokers and put their names in the warning list to alert Investors. Here are the details of the brokers.

Name: ForteFX

Telephone: +19098089641

Email: noreply@forte-fx.com

Website: www.forte-fx.com

Name: FX CMB / fxcmb.com

Address: 4 Profiti Llia Street, Kaninka Business center 7th floor, Germasogeia, limassol Zypern, CYPRUS,

4046

85 Great Portland Street, First Floor, London, EnglandUNITED KINGDOM, W1W 7LT

Telephone: +442037699204

Email: support@fxcmb.com

Website: www.fxcmb.com

The Authority stated These brokers have been found to be operating without proper authorization and have been offering financial services without the necessary licenses. The FCA has advised investors to avoid these brokers and to report any suspicious activity to the authorities. Investors should check the FCA's register of authorized firms to ensure that the broker they are dealing with is legitimate.

WikiFX Review

According to WikiFX, both brokers are unregulated. They are not licensed by any reputable authority. These brokers have low scores. It is quite risky to invest with such brokers. WikiFX issued a warning against the brokers stating

Warning: Low score; please stay away!

It has been verified that this broker currently has no valid regulations. Please be aware of the risk!

WikiFX is a global forex broker regulatory inquiry platform that has investigated and reviewed more than 50,000 brokers, collaborating with more than 30 national regulators. This platform allows you to choose and compare the best brokers based on your needs.