Stay away from "Red Flag" brokers

Red flags basically mean warning signs, which can be found anywhere even in the forex market too. If you are not vigilant enough, there are likely more chances you will fall for them and Lose your valuable money. Therefore, in this article, we are informing you about unregulated brokers, which are, obvious red flags in the forex market. The Renowned Financial Conduct Authority recently issued a warning against seven unauthorised brokers. Here is the list. Have a look and beware.

Name: Exchange Safe / exchangesafe.com

Address: Prime Tower, Hardstrasse 201, Zürich, SWITZERLAND, 8005

Telephone: +442081575642

Email: support@exchangesafe.com

Website: www.exchangesafe.com

Name: I CLIVE TRADE / ICLIVETRADE

Address: Fitz-James Ave, Hammersmith, London, UNITEED KINGDOM, W14 ORP

9800 International Dr, Orlando, Florida, UNITED STATES OF AMERICA, 32819

Telephone: +639703572112

Email: support@iclivetrade.com

Website: https://iclivetrade.com/

Name: TradesPeck

Address: 25 Canada Square, London, UNITED KINGDOOM, E14 5LQ

Telephone: 442035970523

Fax: +442035970640

Email: nick.ta@tradespeck.com,

support@tradespeck.com,

alexander.z@tradespeck.com,

tom.sp@tradespeck.com

Website: www.tradespeck.com

Name: GLOBAL FX EARNERS / GLOBALFXEARNIERS

Address: Fitz-James Ave, Hammersmith, London, UNITEDKINGDOM, W14 ORP

9800 International Dr, Orlando, Florida, UNITED STATES OF AMERICA, 32819

Email: support@globalfxearners.com

Website: https://globalfxearners.com

Name: BTCC Global Limited/ www.btcc.com

Email: support@btcc.com

Website: https://www.btcc.com/en-US

Name: ULTIMATE FX WORLD / ULTIMATEFXWORLD

Address: 76 Commercial St, Edinburgh, Midlothian, UNITEDKINGDOM, EH6 6LX

846 Melrose Street, Spokane, Washington, UNITED STATES CFAMERICA, WA 99201

Telephone: +14234035789

Email: support@ultimatefxworld.com

Website: https://ultimatefxworld.com/

Name: unity-trust.co.uk (Clone of FCA Authorised Firm)

Telephone: 03451401500

Email: us@unitytrust.co.uk,

info@unitytrust.com

Website: https://unity-trust.co.uk/

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.

The FCA has also reminded investors to be vigilant when dealing with forex brokers and to conduct proper due diligence before investing any money. Investors should check the FCA's register of authorized firms to ensure that the broker they are dealing with is legitimate.

To know about the security and reliability of your chosen brokers, you can use Wikifx app. To expand your knowledge and stay informed about the forex market. Download the Wikifx app on your phones. Here is the Link to the download: https://www.wikifx.com/en/download.html