There are not many trading platforms regulated by the NFA, and they are all veteran traders, such as Jiasheng Group, Yingtou Securities, IG Markets, and so on. However, due to the strict regulation of the NFA, there are always fraudulent trading platforms that pretend to be regulated by the NFA for fraud. Recently, 51Markets, which was exposed by Skynet users, is one of them.
It's been several days since I paid the deposit. I asked the customer service about my abnormal trading order, (called me), and so on. After waiting for less than an hour, they restricted my trading and payment, and the customer service even blacklisted me.
This is an exposure posted by a user of Aihui Cha, who still has $10112 to deposit on 51Markets.
This is not the first time 51Markets has been complained by users that they are unable to withdraw funds. As early as August 2021, a 51Markets user also claimed that customer service disappeared after the platform deposited funds, questioning whether 51Markets is a black platform.
Regulated by three institutions in the United States?
It is not a legitimate platform to blackmail customers after they have invested or disbursed funds. 51 MARKETS' official website domain name was created in September 2020. It claims to provide retail foreign exchange trading services and is regulated by the US NFA with regulation number 0540732. In addition, 51 MARKETS also claims to be regulated by the US Securities and Exchange Commission (SEC) and the US Financial Supervisory Authority (FINRA).
Using the regulatory number "0540732" on the NFA official website, the platform name found was "51 MARKETS INTERNATIONAL LIMITED". However, the point is that the company is not a member of the NFA and is a registered but unregulated platform.
As for the search of 51 MARKETS on the official websites of the US SEC and FINRA, no relevant information was found. Here, it is important to remind friends that even if relevant information is found in these two institutions, it cannot indicate that 51 Markets is regulated in the United States, as the SEC and FINRA do not regulate financial derivatives at all. 51 MARKETS mentioned these two institutions on their official website, just to elevate themselves and confuse Huiyou.
Ai Hui Cha Reminder:
The regulatory rules of regulatory agencies vary from country to country, and regulatory agencies with complete financial mechanisms, such as the FCA and NFA, naturally have higher regulatory effectiveness; Some state regulated dealers do not accept investors from Chinese Mainland, such as ASIC; Some countries have offshore regulation, which is relatively loose, such as Vanuatu.
Regulatory authorities in various countries have different licenses, such as STP direct license, MM market maker license, and AR license. The regulatory requirements vary depending on the license.
The reason why the editor mentioned these is to remind traders, especially novice traders, that they must have a preliminary understanding of regulatory knowledge in various countries before choosing a platform. In this way, when encountering false platforms that claim to be regulated by the US NFA, they will not be easily deceived.
