Below is a comprehensive analysis of Broco (Brocompany), a forex broker with the official website http://www.brocompany.com/, based on the requested criteria. The analysis draws from available web information, including complaints, regulatory status, and risk indicators, while critically examining the data to provide a balanced perspective. Note that some information may be outdated or incomplete, as the broker’s status and operations may have evolved.

1. Online Complaint Information ¶

Summary: Broco has a significant history of negative user reviews and complaints, particularly from 2011–2014, centered around withdrawal issues, poor customer service, and allegations of fraudulent behavior. Some older positive reviews exist, but they are overshadowed by more recent negative feedback.

• Withdrawal Delays and Non-Payments: Multiple traders reported difficulties withdrawing funds, with delays lasting months or incomplete payments. For example, a 2012 complaint on Forex Peace Army described a user waiting nearly 10 months for $10,900, with only 25% of requested funds withdrawn after three months. Another user in 2012 reported Broco refusing to return a $5,000 profit.
• Scam Allegations: Users on platforms like Forex Factory and Forex Peace Army labeled Broco as a “scam broker,” citing refusal to honor withdrawals and manipulative practices. A 2012 Forex Factory post detailed a Chinese trader’s experience of being denied profit withdrawals.
• Positive Reviews (Older): Some older reviews (e.g., 2009 on Forex Peace Army) praised Broco’s fast withdrawals and service, but these are from a period before the major complaints surfaced, suggesting a potential decline in reliability.
• FPA Warnings: The Forex Peace Army issued warnings, including a 2012 note about Broco shutting down and a 2014 recommendation for “extreme caution” due to the company’s website reappearing after closure. Critical Analysis: The volume and consistency of withdrawal-related complaints, especially from 2011–2012, raise serious concerns about Broco’s operational integrity during that period. The lack of recent complaints could indicate either improved operations or reduced activity, but the historical issues are significant red flags.

---

2. Risk Level Assessment ¶

Risk Level: High Factors Contributing to High Risk:

• Unregulated Status: Broco is explicitly described as unregulated in multiple sources, including InvestWorld.net and WikiFX. Unregulated brokers pose higher risks due to the lack of oversight, which can lead to mismanagement or fraud.
• History of Complaints: The pattern of withdrawal issues and scam allegations suggests a high likelihood of financial risk for users.
• SEC Case: A 2010 SEC case against Broco and its shareholders, cited by Forex Peace Army, led to the rejection of Broco’s CySEC license application. This indicates potential legal and ethical issues.
• Closure and Reappearance: Reports of Broco shutting down in 2012 and its website reappearing in 2014 without clear regulatory updates suggest operational instability. Critical Analysis: The combination of no regulation, past legal issues, and operational disruptions places Broco in a high-risk category. Even if the broker is currently operational, the absence of recent regulatory validation increases the risk of engaging with them.

---

3. Website Security Tools ¶

Website: http://www.brocompany.com/ Security Analysis:

• SSL Certificate: As of the last available data, there is no specific mention of whether http://www.brocompany.com/ uses HTTPS (indicating an SSL certificate). Secure websites typically use HTTPS to encrypt data, and the absence of this would be a red flag. General advice from the SEC emphasizes the importance of accessing brokerage accounts on secure, encrypted pages (HTTPS).
• Security Features: No information is available on additional security measures, such as two-factor authentication (2FA) or security tokens, which are recommended for online brokerage accounts.
• Potential Vulnerabilities: If the website lacks HTTPS or modern security protocols, it could be susceptible to phishing or data breaches, increasing risks for users. Critical Analysis: Without direct access to the website’s current state, I cannot confirm its security features. However, the lack of documented security practices and the broker’s troubled history suggest caution. Users should verify HTTPS usage and inquire about 2FA before engaging.

---

4. WHOIS Lookup ¶

WHOIS Data:

• Domain: brocompany.com
• Availability: A 2023 source (PerfectDomain.com) indicated that brocompany.com “may be for sale,” suggesting the domain might not be actively controlled by Broco or could have been abandoned.
• Registration Details: No recent WHOIS data is provided in the sources, but older complaints reference Broco’s operations in Panama, Russia, and Cyprus, with addresses like “PO Box №69, Saint-Petersburg, Russia.” The lack of transparency about current ownership or registration is concerning.
• Hidden Ownership: General scam indicators from Scamadviser note that hidden WHOIS details can be a red flag, as scammers often obscure their identity. Critical Analysis: The potential sale of the domain and lack of clear WHOIS data raise doubts about the website’s current legitimacy. If the domain is no longer controlled by Broco, it could be repurposed for fraudulent activities, such as clone firm scams.

---

5. IP and Hosting Analysis ¶

Hosting Information:

• Server Location: No specific IP or hosting details are provided for brocompany.com in the sources. However, a related site, brofix.org, was flagged by Scamadviser for being hosted in a “high-risk” country with a high level of fraud and corruption, per the International Banking Federation.
• Hosting Risks: Hosting in high-risk jurisdictions can indicate attempts to evade regulatory scrutiny, a common tactic among fraudulent brokers. Critical Analysis: Without precise hosting data for brocompany.com, assumptions are limited. However, the association with high-risk hosting for similar domains (e.g., brofix.org) and Broco’s history of operating in jurisdictions like Panama (noted as concerning in complaints) suggest potential risks.

---

6. Social Media Presence ¶

Social Media Analysis:

• Limited Presence: There is no mention of Broco’s official social media accounts (e.g., Twitter, LinkedIn, Facebook) in the provided sources. This is unusual for a legitimate broker, as most maintain active social media to engage clients and build trust.
• Scamadviser Notes: For related domains like brofix.org, Scamadviser noted a lack of social media reviews or comments, which is a red flag for newer or untrustworthy sites.
• Potential Impersonation: Scammers often create fake social media profiles to mimic legitimate firms. Given Broco’s history, users should verify any social media accounts claiming to represent Broco. Critical Analysis: The absence of a verifiable social media presence is a concern, as it limits transparency and user engagement. Legitimate brokers typically use social media to address complaints and promote services, so this gap aligns with other risk indicators.

---

7. Red Flags and Potential Risk Indicators ¶

Key Red Flags:

• Unregulated Status: Confirmed by multiple sources, indicating no oversight to protect clients.
• Withdrawal Issues: Consistent complaints about delayed or denied withdrawals.
• SEC Case and License Rejection: The 2010 SEC case and CySEC license rejection suggest legal and ethical issues.
• Domain Sale: The potential sale of brocompany.com raises questions about the broker’s current operations.
• High-Risk Jurisdictions: Operations in Panama and Russia, noted as concerning by users, align with high-risk hosting patterns.
• Lack of Transparency: Hidden ownership, unclear regulatory status, and limited contact details increase distrust. Critical Analysis: These red flags collectively paint a picture of a broker with a troubled past and questionable current status. While some red flags (e.g., domain sale) are speculative without recent confirmation, the historical issues are well-documented and significant.

---

8. Website Content Analysis ¶

Website Content (based on historical data from www.brocompany.com):

• Services Offered: Broco offered trading via MetaTrader 4, MetaTrader 5, CQG, and Currenex platforms, covering forex, CFDs, stocks, indices, and commodities. It operated as a hybrid broker (a-book and b-book, market maker).
• Promotional Claims: The website promoted features like “zero commissions” and PAMM accounts, which some users flagged as misleading tactics to attract deposits.
• Technical Details: The site provided login instructions, trading platform details, and swap fee explanations, indicating a functional trading interface. However, errors like “Trading flow is busy” were reported, suggesting technical issues.
• Language and Accessibility: The site was available in multiple languages (e.g., German at de.brocompany.com), targeting a global audience. Critical Analysis: The website’s content appears professional, offering standard brokerage services. However, promotional claims like “zero commissions” align with user complaints about deceptive practices. Technical issues and the lack of regulatory disclaimers further undermine credibility.

---

9. Regulatory Status ¶

Regulatory Status: Unregulated

• No Valid Licenses: WikiFX and InvestWorld.net confirm Broco has no valid regulatory licenses.
• Past Regulatory Issues:
• CySEC Rejection: In 2010, Broco’s CySEC license application was rejected due to an SEC case involving the company and its shareholders.
• Panama Regulator: Users noted that Broco claimed regulation by a Panama authority, which was dismissed as “worth nothing” due to lax oversight.
• FSC Mauritius: A 2018 Forex Peace Army post mentioned Broco’s claim of regulation by the Financial Services Commission (FSC) of Mauritius, but no evidence confirms this, and FSC oversight is generally considered weak. Critical Analysis: The lack of regulation is a critical risk factor, as unregulated brokers can operate without accountability. The rejection by CySEC and reliance on questionable jurisdictions like Panama and Mauritius further erode trust. Users should assume Broco operates without credible oversight.

---

10. User Precautions ¶

Recommended Precautions:

• Avoid Engagement: Given the high risk, users should avoid depositing funds with Broco until credible regulatory status and recent positive reviews are verified.
• Verify Regulation: Check with reputable regulators (e.g., SEC, FINRA, FCA) to confirm any claimed licenses. Use BrokerCheck or the National Futures Association for validation.
• Secure Access: Ensure the website uses HTTPS and offers 2FA. Avoid accessing accounts on public or unsecured networks.
• Research Complaints: Search for recent user reviews on platforms like Forex Peace Army, Forex Factory, or WikiFX to assess current reliability.
• Test with Small Deposits: If engaging, start with a minimal deposit to test withdrawal processes before committing significant funds.
• Beware of Clone Scams: Verify the website’s authenticity, as scammers may use similar domains (e.g., brocoflix.com) to impersonate Broco. Critical Analysis: These precautions align with general advice for dealing with forex brokers, particularly those with questionable histories. The emphasis on verifying regulation and starting small is crucial given Broco’s track record.

---

11. Potential Brand Confusion ¶

Brand Confusion Risks:

• Similar Domains:
• Brofix.org: Flagged as potentially untrustworthy by Scamadviser due to its recent registration and high-risk hosting.
• Brocoflix.com/.xyz: Both domains were rated poorly by Scamadviser, with brocoflix.xyz flagged as a potential scam due to malicious activity reports and recent registration. These sites are unrelated to forex but could confuse users due to similar naming.
• Broco Inc. (Unrelated): A legitimate company, Broco Inc., specializes in underwater cutting and welding, with a strong LinkedIn presence and no relation to forex. Its similarity in name could lead to accidental trust in the forex broker.
• Clone Firm Scams: Scammers may exploit Broco’s name to create fake websites or social media profiles, a tactic noted by Interactive Brokers as common in the industry. Critical Analysis: The existence of similarly named domains and an unrelated but legitimate company (Broco Inc.) increases the risk of brand confusion. Users must carefully verify the URL (http://www.brocompany.com/) and avoid mistaking it for unrelated or fraudulent entities.

---

12. Additional Notes ¶

• Operational Status: The potential sale of brocompany.com and reports of Broco shutting down in 2012 suggest the broker may no longer be active or has rebranded. However, the website’s reappearance in 2014 and references to it in 2023 indicate possible continued operation, albeit with significant risks.
• Lack of Recent Data: Most complaints and reviews are from 2009–2014, with limited recent information. This could reflect reduced activity, a rebrand, or resolution of past issues, but the absence of current positive feedback is concerning.
• Critical Perspective: While the sources paint a negative picture, they may overemphasize past issues without accounting for potential improvements. However, without evidence of regulatory compliance or recent user satisfaction, skepticism is warranted.

---

Conclusion ¶

Broco (Brocompany) presents a high-risk profile due to its unregulated status, history of withdrawal issues, SEC legal troubles, and potential domain instability. The lack of verifiable website security, social media presence, and recent positive reviews further amplifies concerns. While the website offers standard brokerage services, its troubled past and red flags outweigh any potential benefits. Users should exercise extreme caution, verify regulatory status, and consider safer, regulated alternatives. The risk of brand confusion with unrelated entities like Broco Inc. or fraudulent domains like brocoflix.com adds another layer of concern. Recommendation: Avoid engaging with Broco until credible evidence of regulation and operational reliability emerges. If considering forex trading, opt for brokers with strong regulatory oversight (e.g., FCA, ASIC, or CySEC) and positive, recent user feedback. Sources:

• Forex Peace Army reviews and warnings
• InvestWorld.net broker review
• PerfectDomain.com domain sale listing
• Scamadviser scam indicators
• Forex Factory user complaints
• WikiFX regulatory status
• SEC and Interactive Brokers scam prevention guidelines
• Broco Inc. (unrelated) LinkedIn and Firehouse profiles
• Broco website content (historical) Note: Always conduct your own due diligence, as web-based information may be incomplete or outdated. If you need specific details (e.g., current website status or recent reviews), please clarify, and I can assist further with available tools.