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Fivoro is an online trading platform that was founded in 2020. The platform aims to provide trading services across various financial instruments, including cryptocurrencies, forex, stocks, and commodities. The company markets itself as a user-friendly platform designed for both novice and experienced traders.
Fivoro operates under the ownership of Urvashi Limited, which is registered in St. Vincent and the Grenadines. This offshore structure has raised concerns regarding its regulatory compliance and operational legitimacy.
The official headquarters of Fivoro is located in the United Kingdom. However, the parent company, Urvashi Limited, is registered in St. Vincent and the Grenadines, which is known for its lenient regulatory environment.
Fivoro claims to have a global reach, allowing traders from various countries to access its platform. However, it is important to note that it does not accept clients from certain regions, including the United States.
Fivoro operates without a valid regulatory license, which is a significant red flag for potential investors. It has been flagged by multiple regulatory authorities, including the British Columbia Securities Commission (BCSC) and the Financial Conduct Authority (FCA) in the UK, both of which have issued warnings against the broker.
Fivoro has attempted to expand its services by offering a variety of trading instruments and account types. However, its lack of regulatory oversight has hindered its ability to gain credibility in the market.
While Fivoro claims to cater to a global clientele, the absence of regulatory backing and the warnings issued by financial authorities have likely limited its customer base growth.
Fivoro offers a web-based trading platform instead of industry-standard platforms like MetaTrader 4 or 5. This decision has been criticized, as many traders prefer the features and functionalities offered by these established platforms.
As of now, Fivoro has not received any notable awards or recognitions that would enhance its credibility in the trading industry.
Fivoro claims to offer access to a range of forex trading options, including major currency pairs. However, the exact number of currency pairs available is not specified, raising questions about the breadth of its forex offerings.
The platform allows trading in stocks from leading exchanges. However, the specifics regarding the number of stocks and the exchanges available are not clearly defined.
Fivoro provides Contracts for Difference (CFDs) on various assets, including stocks and commodities. This allows traders to speculate on price movements without owning the underlying assets.
Fivoro offers a variety of financial instruments, including:
Fivoro claims to provide various educational resources, including videos and eBooks, to help traders improve their skills. Additionally, it offers high leverage of up to 500:1, which can be appealing to some traders but also poses significant risks.
Fivoro lacks a valid regulatory license from any recognized financial authority. The claims of being registered with the Financial Services Authority of St. Vincent and the Grenadines are misleading, as this body does not issue forex licenses or regulate forex markets.
Due to the lack of regulation, there are no formal client fund protection measures in place. This raises concerns about the safety of investors' funds.
Fivoro claims to serve a global market but explicitly excludes clients from the United States and other regions with strict financial regulations.
Fivoro has a concerning compliance history, having received multiple warnings from regulatory bodies. These warnings indicate that the broker is operating without the necessary licenses and is potentially engaging in fraudulent activities.
Fivoro operates in a competitive market with several notable competitors, including:
Fivoro's positioning is weak due to its lack of regulation and the warnings issued by financial authorities. This diminishes its credibility compared to its competitors, which are regulated and offer a higher level of investor protection.
Fivoro attempts to differentiate itself through high leverage options and a variety of trading instruments. However, these advantages are overshadowed by its regulatory issues and lack of transparency.
In conclusion, while Fivoro presents itself as an innovative trading platform, significant concerns regarding its regulatory status, client fund protection, and overall credibility make it a risky choice for potential investors. Prospective traders should exercise caution and conduct thorough research before engaging with this broker. For more information, consider exploring additional resources on trading platforms and regulatory compliance.
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