FxtPremium Review (2023)

FxtPremium is a broker that offers to trade with various assets including Forex, commodities, precious metals, indices, cryptocurrencies and CFDs. The company doesn’t disclose any information about its location as well as its regulation. The only contact info that can be found on the website is German phone number. If the broker wants the traders to think it is located in Germany, it supposed to be regulated by The Federal Financial Supervisory Authority, although the entity doesn’t seem to be regulated by any authority. In addition, terms and conditions on the website state that FxtPremium is governed by the laws of the Vanuatu – popular offshore zone for the forex broker. Probably the firm was trying to hide the fact with the offshore registration as most of the brokers registered there are turn out to be scams. It is highly recommended to avoid offshore unregulated brokers such as FxtPremium.
Moreover, Italy’s regulator CONSOB has issued a warning against the broker stating that:
“The National Commission for Companies and the Stock Exchange has ordered the following company to cease the infringement of art. 18 of the same Decree consisting of the provision of unauthorised investment services and activities to the Italian public: Fxtpremium through the website www.fxtpremium.com”

Investing with a properly regulated broker is crucial for the safety of any investment. Here are some reliable regulators: UK’s FCA, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). These are well-respected institutions, also enforce strict regulatory standards upon all brokers in their jurisdictions.