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• Our Review Method

• Is BrokerOfficial Scam or Legit Broker?

• What is BrokerOfficial?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding BrokerOfficial due to the issues we've identified.

Is BrokerOfficial Scam or Legit Broker? ▲

BrokerOfficial operates without the necessary regulatory oversight, marking it as a Non-Regulated Broker. This absence of authorization and registration signals a significant risk, making it unsafe for trading activities. Our extensive verification process revealed no licensing details for the company, raising concerns about its operational legitimacy. The lack of a transparent location further compounds these suspicions, suggesting the possibility of operations from an undisclosed, potentially unregulated jurisdiction.

Non-Regulated Status:

• BrokerOfficial lacks any form of registration or licensing.

• The absence of regulatory oversight renders the broker unsafe for trading.

• The undisclosed operational location adds to the concerns regarding its legitimacy.

Recommendations for Safe Trading:

• It is strongly advised to opt for brokers regulated by reputable authorities such as the FCA (UK) or ASIC (Australia).

• Trading with a nonregulated broker like BrokerOfficial carries significant risks.

What is BrokerOfficial? ▲

BrokerOfficial, presented as a Forex and CFD brokerage entity, is owned by Astercap LTD. Despite claims of being UK-based, it fails to meet the regulatory requirements set by the Financial Conduct Authority (FCA) for offering financial services within the UK. The absence from the FCA's registry indicates a critical discrepancy in its claimed operational standards. Additionally, the issuance of a warning by the Canadian regulator, the British Columbia Securities Commission, against BrokerOfficial, further emphasizes the risks associated with this broker.

Regulatory Warnings and Lack of License:

• BrokerOfficial is not recognized by the FCA, a significant red flag for potential traders.

• Regulatory warnings, such as that from the British Columbia Securities Commission, underscore the potential dangers of engaging with this broker.

Misrepresentation and Potential Risks:

• Claims of being UKbased without FCA registration mislead potential clients.

• The broker's operation without a proper license increases the risk for traders.

Conclusion ▲

The absence of a regulatory license and the presence of warnings from reputable financial authorities strongly advise against engaging with BrokerOfficial. In the realm of Forex and CFD trading, the integrity and reliability of a broker are paramount. As such, traders are encouraged to select brokers who are regulated by esteemed bodies such as the FCA in the UK, ASIC in Australia, or CySEC in Cyprus. Our comprehensive review process, evaluating over 1000 brokers, underscores the importance of regulatory compliance as a fundamental criterion for broker selection. Therefore, we recommend traders to steer clear of BrokerOfficial and prioritize trading with well-regulated brokers to safeguard their investments.