You should check not only the licenses that brokers claim to have in different countries but also whether they are also valid.
Recently, three forex brokers had their licence status changed in March. Two applied the cancellation of their CIF Licences of CySEC, while one was “suspended”.
ROinvesting
Regulatory status: under examination for voluntary renunciation of the authorisation
ROinvesting is registered as an CIF (license no. 269/15 ) of CySEC to operate as an investment firm. When checking on the CySEC register, we found the regulatory status of ROinvesting changed into under examination for voluntary renunciation of the authorisation.
Regulatory status: under examination for voluntary renunciation of the authorisation
ETFinance is registered as an CIF (license no. 359/18 ) of CySEC to operate as an investment firm. When checking on the CySEC register, we found the regulatory status of ETFinance changed into under examination for voluntary renunciation of the authorisation.
Regulatory status: Suspended
EuropeFX is registered as a CIF (license no. 258/14 ) of CySEC to operate as an investment firm. When checking on the CySEC register, we found the regulatory status of EuropeFX changed into “Suspended”.
Please note that there are certain risks due to license changes of the three brokers, therefore, you should pay attention to your money.