5 New Brokers Placed on the Financial Commission's Warning List

The independent external dispute resolution (EDR) body Financial Commission has updated its warning list.

​Companies newly placed on the commission's warning list includes 247frxtrade (https://247-fxtrade.com/about.html, a crypto currency investment solution provider), Coin Trade (https://www.cointrade.ltd/?a=aboutus, an investment fund), BitBinary (https://www.bitbinaryfxtrade.com/, a forex/cfd and options broker ), Cryptocent (https://www.cryptocent.live/, a bitcoin investment firm), and Elitefxoption (https://elitefxoption.com/, a binary options broker).

The EDR body reviewed the submitted information from potential customers of aforementioned brokers and determined that the companies and their associated websites may be used to scam and defraud traders and investors. 

The Commission does not recommend investors to do business with any of the above-mentioned entities. It also cautions against individuals and enterprises against representing these firms on social media and in private messages on popular messaging apps.