WikiFX Broker's Review: Is ABC Group Regulated?

Even though it advertises discounts that seem too good to be true, ABC Group is not a certified or regulated broker. ABC Group claims to be owned by ABC Group Ltd, a company established by the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) with the registration number: 23920 IBC 2017.

Upon checking their regulations as stated on their official website by WikiFX at the official SVG FSA. The business type registered is not a financial service nor an entity that can conduct forex trading (image shown below).

We do locate a match for the registration number in the SVG FSA, however, it belongs to a firm called “INVESCO LTD” rather than “ABC Group Ltd.” Furthermore, the SVG FSA is not a regulatory authority that awards forex trading licenses or governs firms that provide forex services.

More crucially, the Portuguese Securities Market Commission (CMVM) warned ABC Group that it is not permitted to engage in any form of financial intermediation activity. The complete warning is shown in the picture below:

The fact is that ABC Group is not regulated by anybody. That implies your data or money in this broker is at risk and is not protected by law. We would advise traders to avoid unregulated brokers such as ABC Group and instead deal with licensed brokers.

ABC Group on WikiFX

As previously indicated, the regulation of ABC Groups is not mentioned on the official website of the financial authorities. This broker is likely to be one of the FX market's con artists.

The rules for Saint Vincent and the Grenadines may be found here: https://www.wikifx.com/en/newsdetail/202208027034620584.html

About WikiFX

WikiFX is a forex search engine that allows you to quickly check the broker's regulatory status, which is the most crucial thing to know before investing. It has over 37,000+ listed brokers, both registered and unregulated, and has been working with 30 financial authorities to educate traders and prevent them from choosing the incorrect forex broker. Aside from educating traders, WikiFX may help prevent unlawful actions by your forex brokers.

WikiFX's database is sourced from official regulatory bodies such as the FCA, ASIC, and others. The published information is also fair, objective, and factual. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or other irrational expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up to date.

Visit ABC Group's WikiFX dealer website at https://www.wikifx.com/en/dealer/3143366799.html to learn more.

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