Russian Watchdog KROUFR Adds Forex Broker Trade12 to Warning List

Trade12 is the latest forex broker to be added to the regulator’s blacklist for withdrawal-related issues.

KROUFR, the Russian self-regulatory organisation which seeks to regulate relationships between clients and retail brokerages, has added another forex 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 online via

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

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”.

Suggested articles

$100,000 Battle: PrimeXBT Debuts New Contests ModuleGo to article >>

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.

Got a news tip? Let Us Know