Russian Watchdog KROUFR Adds Forex Broker Trade12 to Warning List

KROUFR, the Russian self-regulatory organisation which seeks to regulate relationships between clients and retail brokerages, has added another Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker to its warning list.

KROUFR, which recently added Northern-Cyprus based TouchTrades to its ever-growing list, today included Trade12 which operates its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term online via www.trade12.com.

Withdrawal Issues

Trade12 is an international brokerage brand owned and operated by Exo Capital Markets Ltd, a company incorporated in the Marshall Islands with processing services provided by Global Fin Services Ltd, Langley House, Park Rd, London N2 8EY, UK. According to its website, the company is “headed by a team of exceptional individuals with decades of experience in the field and is rigorously in compliance with the meticulous standards of financial stability, as well as proper management and security of funds”.

However, this statement is somewhat contentious as it has been brought to KROUFR’s attention that Trade12 had received numerous complaints from customers relating to difficulties in withdrawing funds from their accounts. For this reason, the brokerage has been added to the growing blacklist which now includes 30 companies, mainly forex and binary options brokers.

KROUFR Background

KROUFR is a non-profit organisation that seeks to identify unscrupulous companies operating in the financial markets and warn the trading community about the actions of these companies.

Trade12 is the latest broker to make it onto KROUFR’s blacklist of companies as the watchdog believes that the company exhibits the characteristics of an investment scam. The watchdog has advised investors to choose proven brokers with industry-recognised regulation and certification.