![]() ![]() Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. The Australian Securities and Investments Commission ( ASIC).The Cyprus Securities and Exchange Commission ( CySEC).Some examples of regulatory authorities that issue brokerage licenses are: In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. ![]() When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. This will tell you whether they are regulated by a central authority or if you are dealing with an offshore and/or unregulated investment company. When researching an online broker, the first and most important step should always be to find out if they have a regulatory license from a financial institution. Read more about this topic in our dedicated article: Financial Regulation Authorities. Investing time in research before trying to invest on a suspicious broker can save you from potential losses and unnecessary stress. ![]() If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. ![]() Unfortunately, IFinanceFX is not regulated or authorized to operate by any major regulatory authority, which means it will be a difficult process to withdraw from this company if they decide to ignore your request or suspend your account for trivial reasons. If your funds are stuck in your IFinanceFX account, you should try to reach out to them first and request a withdrawal by every possible means so that you have proof to show authorities later on if they refuse to process your withdrawal. A little bit of preliminary research can go a long way in protecting you and your finances. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. Based on this user feedback, it appears that IFinanceFX is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform. These reviews offer insights into the platform's functionality, customer service, and overall trading experience, allowing potential investors to make informed decisions.Īfter conducting some research on various social media platforms (Facebook, Twitter, Instagram), as well as online trading forums, a general theme emerged where users were dissatisfied with their experience with IFinanceFX. Reading reviews from other traders who have experienced IFinanceFX firsthand is crucial in determining the broker's reliability. In all probability, there have been other traders who have already used the same service, and have expressed their opinions and feedback online on various forums. The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to. To help you make an educated decision, consider checking out our in-depth reviews of two other companies we have recently examined: StandardHiFx and Keystone Market. It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including IFinanceFX. To contact IFinanceFX, their support team can be reached via phone at +3225862269 +447727702940 or by email at website can be found at : IFinanceFX is an online trading broker owned by Netming Limited. ![]()
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