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Spain’s financial regulator, the CNMV, has published a warning against the Your Trade Choice forex broker.
According to the announcement on the organization’s website, the company, operating two websites: http://yourtradechoice.net and http://yourtradechoice.com is not licensed to provide financial services in Spain.
The broker is owned by Trade Choice FX Limited, which has a registration in the Caribbean offshore zone St. Vincent and the Grenadines. It offers trading in forex, spot metals, futures and shares. It offers a welcome bonus of 10% on the new client deposit, but no more than $2000. The leverage is up to 1:300 and the minimum deposit is $1000.
Your Trade Choice has appeared on regulators’ warning lists before. Earlier this year it was blacklisted by Russia’s self-regulatory organization – KROUFR. The reason was a complaint from a Russian client of the broker who had lost a significant sum from “local deals” carried out by his “trading consultant” in Your Trade Choice. The client had $15 000 left in his account, but he cannot withdraw it, because the “local deals” made by his “trading consultant” were “scalping deals” and this was against the company rules.