Updated on April 29, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Caxton Global due to the issues we've identified.
Is Caxton Global Scam or Legit Broker? ▲
Caxton Global emerges as an unsecured choice for Forex traders due to the absence of any license from globally recognized Forex regulatory authorities. This absence raises significant concerns about the company's legitimacy, positioning it as a potential fraudulent entity. Without the oversight of reputable regulatory bodies, Caxton Global operates without the stringent checks and balances required for safety and compliance in the financial trading world. Engaging with Caxton Global presents a highly risky venture for traders, given its unregulated status and the freedom it has to conduct its operations as it pleases, devoid of any regulatory safeguards.
Caxton Global is presented as a Forex brokerage under the ownership of Caxton Global Limited. Despite claims on its website of registration in New Zealand and authorization by Financial Service Providers, the reality starkly contrasts, with the company not being registered in New Zealand. Moreover, it has found itself on the blacklist of New Zealand's Financial Markets Authority (FMA). The discrepancies extend to the claims of being a global broker regulated by the UK's Financial Conduct Authority (FCA), which are unfounded as no records substantiate this firm being regulated by the FCA. These discrepancies and misleading information serve as a strong deterrent from engaging with Caxton Global. Traders are advised to opt for brokers regulated by trustworthy authorities, including the FCA in the UK, ensuring they verify brokers through the Financial Service Register.
None identified due to the significant concerns surrounding the broker’s lack of licensing and regulatory oversight.
Lack of Regulation: Caxton Global has not acquired licensing from any established global Forex regulatory authority, casting doubts on its legitimacy and security as a broker.
Misleading Information: The firm provides contradictory information about its registration and regulatory status, falsely claiming association with New Zealand’s registration and the FCA’s regulation.
High Risk: Without regulatory oversight, trading with Caxton Global poses a high risk, with potential exposure to fraudulent practices.
Inactive Website: The broker’s website is no longer active, indicating that it may have ceased operations, yet it warrants caution for traders in case it resumes under the same or a different guise.
In sum, when considering the initiation of a trading account, it is paramount to choose brokers that are regulated by globally respected authorities, adhering to a comprehensive set of rules and maintaining a positive reputation over their operational history. The lack of regulation, misleading claims, and the inactive status of Caxton Global’s website strongly advocate against engaging with this broker. Traders are encouraged to opt for well-regulated brokers, such as those in the UK and Australia, which have established a solid reputation through adherence to regulatory standards and providing a secure trading environment.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
Caxton Global Review 2024
