Updated on March 1, 2024
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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 CarterFS due to the issues we've identified.
Is CarterFS Scam or Legit Broker? ▲
Trading with CarterFS is highly advised against. The entity is under the ownership of Elit Property Vision LTD, which operates out of Bulgaria. A thorough investigation yields no evidence of regulation or licensing for CarterFS, nor for its owner, Elit Property Vision LTD, within the jurisdiction of Bulgaria's Financial Supervision Commission. This lack of regulatory compliance is a significant red flag for potential investors and traders.
Historically, CarterFS was under the management of Solutions CM, a company tarnished by a notorious reputation due to repeated bans as a proprietor of brokers such as Britonprice and Easy Line Pro. This lineage of questionable associations further casts doubt on the legitimacy and safety of engaging in trading activities with CarterFS.
CarterFS presents itself as a trading platform that provides individuals with opportunities to invest in a variety of assets including stocks, commodities, indices, and currencies. Despite the offerings, CarterFS is embroiled in controversies and warnings from several regulatory bodies.
In February 2017, Spain's CNMV issued an explicit warning against CarterFS, stating that it is not authorized to deliver investment services such as investment advice or to engage in financial instruments' auxiliary services, including foreign currency transactions.
The Austrian FMA also banned CarterFS, highlighting that it is not entitled to conduct banking transactions that necessitate a license within Austria, therefore not permitted to trade on behalf of others or on its own account commercially.
Additionally, Italy's CONSOB has mandated CarterFS to cease the provision of unauthorized investment services and activities to the public, indicating a clear breach of the Consolidated Law on Finance.
These warnings from reputable financial regulatory authorities underscore the risk and potential illegality of engaging with CarterFS for financial investment services.
In conclusion, the collective evidence strongly discourages investors and traders from associating with CarterFS, or any unregulated broker for that matter. The absence of critical information regarding the broker's regulatory status, trading conditions, and contact details signals a substantial risk, likely pointing towards investment scams. For secure and reliable trading, individuals are advised to seek out brokers that are well-regulated by reputable authorities such as the FCA in the UK or ASIC in Australia. Notably, brokers like eToro and XM stand out as commendable alternatives due to their stringent adherence to regulatory standards and transparent trading conditions. Always prioritize engaging with brokers that offer clarity, reliability, and are subject to regulatory oversight to safeguard your investments.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
CarterFS Review 2024
