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A Newly Created Website: Unlicensed BreeTrade is a Forex Scam
Abstract：The company has a domain name that was created only a month ago and it also falsely states glorious awards.
A newly created website
BreeTrade has a domain name that was first created in April 2022, only a month ago. However, the companys homepage presents multiple awards in 2018, 2020 and 2021. So how could this happen？ Here is a strong signal that it is a fraud.
An unregulated forex broker
As you can see, BreeTrade claims that it is regulated by the American Futures Association (NFA) under regulatory number 0541392 and is registered in the Companies House of the United Kingdom under company registration number 09110851.
▶ Not an NFA member
When we searched with the regulatory number on the NFA Registry, we found BreeTrade is not an NFA Member. That means the firm is not allowed to offer forex investment activities as it is not supervised by NFA.
▶ Only registered in the UK Companies House
Headquartered in the UK, BreeTrade is only registered in the UK Companies House(company number: 09110851).
▶ Not a legitimate UK-based forex broker
However, the Companies House doesnt regulate any forex activities of British companies, it is the Financial Conduct Authority (FCA) that supervises currency activities in the UK market. And when we searched on the FCA registry, we found no registration results for BreeTrade. That means it is an unlicensed UK-based forex broker.
Based on the above information, we can conclude that BreeTrade is a scam.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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