William Davenport asked 5 years ago
Trying to find a broker for a newbie like myself that i can learn how to trade. I know nothing about investing so I need a broker that can teach me the art of trading? I was recommended to try this broker called Binomo. I know there have been a lot of online trading scams so I looked for a regulation and I saw that they are regulated by the Financial Commission. Who are they? Are they reliable/safe??? I am from the UK so I know we have the FCA. Is the Financial Commission comparable?
The Financial Commission is an organization that acts as an independent self-regulatory organization and external dispute resolution. However, they are not regulated by any regulatory agency such as the FCA or ASIC. In fact, they work with problematic Forex brokers such as Binomo and other brokers that we have received numerous complaints against. We highly suggest that if you see the Financial Commission’s seal of approval on any forex broker’s website you should stay far away. If you have been scammed by a broker associated with the Financial Commision make a complaint by filling out this form: https://brokercomplaintregistry.com/forex/