The FSMA Has Warned the Public About These Brokers

The FSMA or the Financial Services and Markets Authority of Belgium has released warnings about the following brokers. As the number of fraudulent online trading increases, more regulators are issuing red flags and warning the public about how to keep their money secure while trading. In addition, they issue targeted warnings about specific suspicious brokers and financial companies that seem to be frauds. 

This is a valuable service. However, one obstacle is the sheer number of warnings as the specter of cyber scams worsens. CryptoCoinTrace experts have aggregated these warnings from regulators worldwide into one place. You can easily access scam broker reviews that will provide more detail about each suspicious financial service and will enable you to research financial services more easily.

What Does The The FSMA Securities Commission Do?

The Financial Services and Markets Authority of Belgium is given the task by the Belgian parliament to supervise and regulate financial markets. This means they oversee financial services that operate within Belgium or have Belgian customers. The FSMA ensures these companies comply with all regulations and issue warnings to the public about potential frauds. They also take disciplinary action when needed and assist law enforcement with their efforts to track down financial fraud.

Common Broker Red Flags

  • The FSMA issues public warnings against brokers for the following reasons. These are the most common red flags–there may be other problems as well. 

    • Licensing issues
    • Misleading statements
    • Non-compliance with regulations
    • Proliferation of customer complaints
    • Clone broker
    • Legal action against the company

One of the most frequent complaints is that a broker is unregulated. This means they operate in Belgium, or at least say they do, but are not under the Financial Services and Markets Authority of Belgium’s supervision. They may hold an expired or revoked license and correctly say they hold a license, but nevertheless, they could be misleading the public. Others have no license at all and may not even pretend to be regulated. 

FSMA is also concerned with misleading statements, such as false guarantees of returns on trades or erroneous claims about credentials and statements attempting to lure customers that may not be true. For instance, a number of brokers on this list claim they don’t charge fees when they will charge customers later on in the process. 

The FSMA warns the public if the broker doesn’t comply with regulations and if they receive a large number of customer complaints. The problem of clone brokers is prevalent. This occurs when a broker takes a name that is similar to a regulated broker for the purpose of misleading the public. The regulator will also inform the public if the broker is the target of legal action, such as cease and desist orders.

Selfkings (sellfkings.com) Review

The FSMA Has Alerted the Public About Selfkings (sellfkings.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Selfkings (sellfkings.com). These Classic Red

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Sagatrade (sagatrade.io) Review

The FSMA Has Alerted the Public About Sagatrade (sagatrade.io)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Sagatrade (sagatrade.io). These Classic Red

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Lite Gap (litegap.com) Review

The FSMA Has Alerted the Public About Lite Gap (litegap.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Lite Gap (litegap.com). These

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Liquidspro (liquidspro.com) Review

The FSMA Has Alerted the Public About Liquidspro (liquidspro.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Liquidspro (liquidspro.com). These Classic Red

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InGoInvest (ingoinvest.com) Review

The FSMA Has Alerted the Public About InGoInvest (ingoinvest.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with InGoInvest (ingoinvest.com). These Classic Red

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Fortexo (fortexo.co) Review

The FSMA Has Alerted the Public About Fortexo (fortexo.co)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Fortexo (fortexo.co). These Classic Red

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FundsProMax (fundspromax.com) Review

The FSMA Has Alerted the Public About FundsProMax (fundspromax.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with FundsProMax (fundspromax.com). These Classic Red

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Crpmarkets (crpmarkets.com) Review

The FSMA Has Alerted the Public About Crpmarkets (crpmarkets.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Crpmarkets (crpmarkets.com). These Classic Red

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FinoTrend (finotrend.com) Review

The FSMA Has Alerted the Public About FinoTrend (finotrend.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with FinoTrend (finotrend.com). These Classic Red

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CoinsBanking (coinsbanking.com) Review

The FSMA Has Alerted the Public About CoinsBanking (coinsbanking.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with CoinsBanking (coinsbanking.com). These Classic Red

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Btc-Markets (btc-markets.com) Review

The FSMA Has Alerted the Public About Btc-Markets (btc-markets.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Btc-Markets (btc-markets.com). These Classic Red

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BrownFinance (b-finances.com) Review

The FSMA Has Alerted the Public About BrownFinance (b-finances.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with BrownFinance (b-finances.com). These Classic Red

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AssetShot (assetshot.com) Review

The FSMA Has Alerted the Public About AssetShot (assetshot.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with AssetShot (assetshot.com). These Classic Red

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24xForex (24xforex.com) Review

The FSMA Has Alerted the Public About 24xForex (24xforex.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with 24xForex (24xforex.com). These Classic Red

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Ualgo (ualgo.com) Review

The FSMA Has Alerted the Public About Ualgo (ualgo.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Ualgo (ualgo.com). These Classic Red

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Traderhouse (traderhouse.com) Review

The FSMA Has Alerted the Public About Traderhouse (traderhouse.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Traderhouse (traderhouse.com). These Classic Red

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Ti-Gi (ti-gi.com) Review

The FSMA Has Alerted the Public About Ti-Gi (ti-gi.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Ti-Gi (ti-gi.com). These Classic Red

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Soltechx (soltechx.com) Review

The FSMA Has Alerted the Public About Soltechx (soltechx.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Soltechx (soltechx.com). These Classic Red

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Oriontero (oriontero.com) Review

The FSMA Has Alerted the Public About Oriontero (oriontero.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Oriontero (oriontero.com). These Classic Red

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Slimhandel (slimhandel.com) Review

The FSMA Has Alerted the Public About Slimhandel (slimhandel.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Slimhandel (slimhandel.com). These Classic Red

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LPLeurope (lpleurope.com) Review

The FSMA Has Alerted the Public About LPLeurope (lpleurope.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with LPLeurope (lpleurope.com). These Classic Red

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Infinity4x (infinity4x.com) Review

The FSMA Has Alerted the Public About Infinity4x (infinity4x.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Infinity4x (infinity4x.com). These Classic Red

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Introtrade (introtrade.pro) Review

The FSMA Has Alerted the Public About Introtrade (introtrade.pro)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Introtrade (introtrade.pro). These Classic Red

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Glenrocks (glenrocks.com) Review

The FSMA Has Alerted the Public About Glenrocks (glenrocks.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Glenrocks (glenrocks.com). These Classic Red

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Fxpoint (fxpoint.co) Review

The FSMA Has Alerted the Public About Fxpoint (fxpoint.co)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Fxpoint (fxpoint.co). These Classic Red

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Foxane (foxane.com) Review

The FSMA Has Alerted the Public About Foxane (foxane.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Foxane (foxane.com). These Classic Red

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FinsRoyal (finsroyal.com) Review

The FSMA Has Alerted the Public About FinsRoyal (finsroyal.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with FinsRoyal (finsroyal.com). These Classic Red

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Euro Trade (eurotrade.co) Review

The FSMA Has Alerted the Public About Euro Trade (eurotrade.co)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Euro Trade (eurotrade.co). These

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Ejmarkets (ejmarkets.com) Review

The FSMA Has Alerted the Public About Ejmarkets (ejmarkets.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Ejmarkets (ejmarkets.com). These Classic Red

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Dcmgroup (dcmgroup.io) Review

The FSMA Has Alerted the Public About Dcmgroup (dcmgroup.io)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Dcmgroup (dcmgroup.io). These Classic Red

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Cryptosaving (cryptosavings.io) Review

The FSMA Has Alerted the Public About Cryptosaving (cryptosavings.io)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Cryptosaving (cryptosavings.io). These Classic Red

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Brokeragea (brokeragea.com) Review

The FSMA Has Alerted the Public About Brokeragea (brokeragea.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Brokeragea (brokeragea.com). These Classic Red

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Apex500 (apex-500.com) Review

The FSMA Has Alerted the Public About Apex500 (apex-500.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Apex500 (apex-500.com). These Classic Red

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UnaKredo (unakredo.com) Review

The FSMA Has Alerted the Public About UnaKredo (unakredo.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with UnaKredo (unakredo.com). These Classic Red

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SolisFunding (solisfunding.com) Review

The FSMA Has Alerted the Public About SolisFunding (solisfunding.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with SolisFunding (solisfunding.com). These Classic Red

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RachWin (rachwin.com) Review

The FSMA Has Alerted the Public About RachWin (rachwin.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with RachWin (rachwin.com). These Classic Red

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Nieuwlening (nieuwlening.com/) Review

The FSMA Has Alerted the Public About Nieuwlening (nieuwlening.com/)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Nieuwlening (nieuwlening.com/). These Classic Red

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Kredinel (kredinel.com/) Review

The FSMA Has Alerted the Public About Kredinel (kredinel.com/)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Kredinel (kredinel.com/). These Classic Red

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Cj-Finances (cj-finances.com/) Review

The FSMA Has Alerted the Public About Cj-Finances (cj-finances.com/)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Cj-Finances (cj-finances.com/). These Classic Red

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Credipea (credipea.com/) Review

The FSMA Has Alerted the Public About Credipea (credipea.com/)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Credipea (credipea.com/). These Classic Red

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Bcce Bank (bcce-bank.com) Review

The FSMA Has Alerted the Public About Bcce Bank (bcce-bank.com)—Are They a Scam Broker?   The FSMA and CryptoCoinTrace Have Found Problems with Bcce Bank (bcce-bank.com). These

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What You Should Do If You Have an Account with These Brokers?

If you currently hold an account with the following brokers, close it and demand an immediate withdrawal of all of your funds. If you do not receive a withdrawal from this broker contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!

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