The Austrian Financial Market Authority (FMA) has blacklisted the unregulated forex broker MarketsSoft. The regulator suspects the company of fraud.
MarketsSoft brokerage is owned by Horizont Ltd, a company registered in Saint Vincent as an international business and provides clients with the MetaTrader 4 trading platform without a demo account.
We further stress that the Company is blacklisted by the Financial Conduct Authority in the United Kingdom. And when multiple regulatory agencies issue regulatory warnings for different brands or brand names of the same company, it almost certainly means that they are participating in an international scam and are deliberately publishing new websites to avoid exposure.
The FMA always advises traders to only do business with legitimate companies that hold the appropriate licenses. Traders can also check the regulatory status of a particular company by entering the Authority's electronic record and writing the name of the company. Another good idea is to simply Google the name of the company and read reviews from previous clients of the broker, as well as the ratings of professional forex bloggers.