TBBOB The British Financial Conduct Authority has added three unregulated brokers to its blacklist.
Crypt Mill
Crypt Mill says it is one of the best brokers in the world with 20 years in existence. It offers currency, stocks, commodities and cryptocurrency trading.
Crypt Mill obviously is a scam broker. It has been created only this year, so it could not have won the awards it is displaying on its website.
Moreover, Crypto Mill says that it is regulated, but it is not true, which was confirmed by the FCA.
Rerotrader
Rerotrader’s website is currently offline, but according to our research it is a Forex broker which claims to be located in Great Britain.
The FCA has had a look at it and found that Rerotrade has no license to provide investment service, it is not regulated at all.
CashFX Group
CashFX Group is a broker that combines financial trading with investing with passive returns.
The broker claims to be regulated in Britain, Dubai, South Africa and Seychelles, but it is not true.
The FCA has warned that Cash FX Group is not regulated at all, it has no authorization to provide investment services.
Summary
Crypt Mill, CashFX Group and Rerotrader are unregulated services that have been placed on the blacklist of the British regulator FCA. Stay away from them.
For trading we recommend using regulated brokers only.
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