This article presents a brokers review of four such unregulated platforms: Finance Advice, Handelsrummet, AxiaGroup, and Pivot Capital. All of these brokers share common red flags, including unregulated status, lack of transparency, and warnings from financial authorities, making them risky for investors.
Broker Overview
Finance Advice Review
Finance Advice operates through two websites, finance-advice.cc and finance-advice.pro, both of which were registered recently. Despite claiming to offer a range of investment services, Finance Advice has no regulatory license. Financial authorities, such as the Comisión Nacional del Mercado de Valores (CNMV) and the Italian Companies and Exchange Commission (CONSOB), have issued warnings about the website, with CONSOB even ordering the site to be blacked out in Italy. This unregulated platform poses significant risks to investors’ funds, as there are no legal protections in place.
Handelsrummet Review
Handelsrummet presents itself as an online trading platform, claiming to be certified by the Crypto Conduct Authority. However, it does not disclose its country of origin, nor does it provide regulatory details required by law. The Swedish Financial Supervisory Authority (FI) has issued a warning against Handelsrummet, confirming that it is not authorized to conduct securities business or other financial services in Sweden. Its website, handelsrummet.se, is currently not operational, adding further to its suspicious nature.
AxiaGroup Review
AxiaGroup, accessible through axiagroup.co and axiagroup.io, claims to be operated by a CySEC-licensed entity, Axia Ventures Group Ltd. However, the website is misleading and uses false information to appear legitimate. A deeper investigation reveals that AxiaGroup is not associated with CySEC or any other regulatory body. The Cyprus Securities and Exchange Commission (CySEC) has added AxiaGroup to its warning list, while multiple other regulatory authorities, including the Belgian FSMA and the Spanish CNMV, have issued similar warnings, labeling it a fraudulent platform.
Pivot Capital Review
Pivot Capital claims to be based in the UK, but no matching information is found with the Financial Conduct Authority (FCA). Its website, weonmarket.com, offers various trading products but provides no information regarding its regulatory status. This lack of regulation raises significant concerns for potential investors, as there are no legal protections available in case of issues with the platform. As an unregulated broker, Pivot Capital should be approached with extreme caution.
Are These Brokers Scam or Legit?
Based on the information provided in these brokers reviews, it is evident that all four platforms—Finance Advice, Handelsrummet, AxiaGroup, and Pivot Capital—are unregulated and have received warnings from various financial authorities. The lack of transparency, the use of misleading information, and the absence of proper licenses suggest that these brokers are highly suspicious. Investing with them could expose traders to significant financial risks, and there are no guarantees that your funds would be protected. Thus, these brokers should be considered unsafe and potentially fraudulent.
Conclusion
In conclusion, this brokers review of Finance Advice, Handelsrummet, AxiaGroup, and Pivot Capital highlights the dangers of dealing with unregulated platforms. These brokers share common traits, such as a lack of transparency, no regulatory oversight, and warnings from financial authorities, all of which make them highly risky for investors.
Scams Report Review: Finance Advice, Handelsrummet, AxiaGroup, and Pivot Capital
Scams Report, a trusted platform for exposing fraudulent practices, uncovering several red flags. These brokers exhibit behaviors commonly associated with scams, including operating without proper regulation, employing deceptive tactics, and failing to provide transparent information. These issues raise serious concerns about their legitimacy and reliability.
Scams Report also provides support to victims of online scams like forex trading scams, cryptocurrency schemes, social media schemes, and internet dating scams, offering free consultation and guidance on fund recovery.
If you’ve faced challenges with any of these brokers, don’t hesitate to contact us. Our experts are here to help you take the first step toward reclaiming your money.
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