How regulation, legal entities and client protections work.
Forty of the 60 brokers we cover hold a licence in Cyprus, and its regulator publishes every fine and settlement. A settlement is not a fine, a fine can be appealed, and a withdrawn licence is not always a sanction.
One trading brand can sit on top of several companies in different countries. The company named in your client agreement decides which rules, and which protections, apply to you.
A regulator’s warning, a client’s allegation, an enforcement action and a court’s final ruling carry very different weight. We label each one for what it is, and never use the word scam as a verdict.