Below is a comprehensive analysis of Regina Forex Limited based on the requested criteria, using available information and critical evaluation. The analysis covers online complaints, risk assessment, website security, WHOIS lookup, IP and hosting, social media, red flags, regulatory status, user precautions, and potential brand confusion.

1. Online Complaint Information ¶

• Reddit (r/Scams): A detailed 2021 post on Reddit warns against Regina Forex, labeling it a fraudulent operation. The user (u/tamagoluv) describes a scam involving a supposed trader who claimed to have earned significant profits through Regina Forex over five years, using spot gold trading (XAUUSD) on the MT5 platform. The scam involved emotional manipulation, with the scammer posing as a romantic interest to gain trust. The user lost $6,000 and highlighted red flags such as inconsistencies in the broker’s claims and lack of verifiable contact methods.
• BrokersView and WikiFX: Reviews on these platforms label Regina Forex as a scam due to its lack of regulation and non-functional website as of July 2022. Complaints include unverifiable licensing claims and operational irregularities.
• Saskatchewan Government Alert: In April 2022, the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) issued a warning about Regina Forex, noting it was not registered to offer securities or derivatives in Saskatchewan and could be illegitimate.
• Summary: Complaints consistently point to deceptive practices, lack of transparency, and financial losses, with no evidence of resolved disputes or positive user experiences.

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2. Risk Level Assessment ¶

• High-Risk Indicators:
• Unregulated Status: Regina Forex claims to be registered with FINTRAC (Canada), but FINTRAC only registers entities for transaction reporting, not as a regulatory body for forex brokers. Legitimate Canadian forex brokers require authorization from the Investment Industry Regulatory Organization of Canada (IIROC), which Regina Forex lacks.
• Website Suspension: By July 2022, the website (www.reginaforex.com) was reported as non-functional, a strong indicator of abandonment or regulatory suspension.
• High Leverage: The broker offered leverage up to 1:500, which exceeds IIROC’s maximum of 1:50, indicating non-compliance with Canadian regulations and increased risk for traders.
• Lack of Transparency: No clear information on withdrawals, fees, or funding methods is provided, which is typical of scam brokers.
• Risk Level: High. The combination of unregulated operations, reported scams, and website issues suggests significant financial and operational risks for users.

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3. Website Security Tools ¶

• SSL Certificate: As of the last available data, the website (www.reginaforex.com) likely used an SSL certificate (standard for most websites), but this is not a guarantee of legitimacy, as scammers frequently use SSL to appear trustworthy.
• Website Functionality: By July 2022, the website was reported as suspended or non-functional, indicating potential abandonment or regulatory action.
• Security Red Flags:
• Lack of legal documentation (e.g., terms of service, privacy policy) on the website, which is a standard requirement for legitimate brokers.
• Customer service was only accessible via WhatsApp, with no phone support, raising concerns about accountability.
• Summary: The website’s security is questionable due to its reported suspension and lack of transparent communication channels. Even if SSL was present, it does not offset other red flags.

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4. WHOIS Lookup ¶

• Domain Information:
• Domain Name: www.reginaforex.com
• Registration Date: Likely registered in 2021, as per FINTRAC registration (May 25, 2021), contradicting claims of being founded in 2010.
• Registrar: No specific WHOIS data is provided in the references, but the short domain age (less than a year in 2021) is a red flag for a broker claiming a decade of operation.
• Privacy Protection: Many scam websites use WHOIS privacy services to hide ownership details, and Regina Forex’s lack of transparency suggests this is likely.
• Summary: The domain’s recent registration contradicts the broker’s claim of being established in 2010, indicating potential deception.

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5. IP and Hosting Analysis ¶

• Hosting Provider: No specific IP or hosting data is available from the provided references. However, the website’s suspension in 2022 suggests it may no longer be hosted or is hosted on unreliable servers.
• Geographical Concerns: The website listed an address in a Regina, Saskatchewan shopping mall, which is inconsistent with a professional financial institution. Phone numbers used a Nova Scotia/PEI area code (902), further indicating discrepancies.
• Summary: The lack of verifiable hosting information and mismatched geographical data increase suspicions of illegitimacy.

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6. Social Media Presence ¶

• Social Media Activity: No specific information is available about Regina Forex’s social media presence. Legitimate brokers typically maintain active, verifiable accounts on platforms like Twitter, LinkedIn, or Facebook to engage with clients. The absence of such information suggests either no presence or unprofessional operations.
• Red Flags:
• Scammers often use fake social media profiles to promote their services, as described in the Reddit complaint where a scammer posed as a trader to lure victims.
• Lack of verifiable social media could indicate a fly-by-night operation.
• Summary: The absence of a documented social media presence is a negative indicator, as legitimate brokers use these platforms for transparency and client engagement.

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7. Red Flags and Potential Risk Indicators ¶

• Regulatory Misrepresentation: Regina Forex claims FINTRAC registration (M21068549) to appear legitimate, but FINTRAC does not regulate forex brokers. This is a common tactic among scam brokers.
• Inconsistent Claims: The broker’s claim of being founded in 2010 is contradicted by its 2021 FINTRAC registration and domain age.
• High Leverage: Offering 1:500 leverage violates Canadian regulations and poses significant risks to traders.
• Non-Functional Website: The website’s suspension by July 2022 is a major red flag.
• Lack of Documentation: No legal documents (e.g., terms, conditions, or risk disclosures) were available, which is standard for regulated brokers.
• Emotional Manipulation: Complaints describe scams involving romance fraud, a sophisticated tactic to exploit trust.
• Unverifiable Address: The listed address in a Saskatchewan shopping mall is not typical for a financial institution.
• Summary: Multiple red flags, including regulatory misrepresentation, inconsistent claims, and operational irregularities, strongly suggest Regina Forex is a scam.

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8. Website Content Analysis ¶

• Content Claims:
• Regina Forex claims to “democratize trading” and have been founded in 2010, positioning itself as a pioneer in online forex trading. This is misleading, as online forex trading has been available for retail clients for decades.
• The website emphasizes transparent trade execution with no spread changes during volatility, which is a common marketing tactic to attract novice traders but lacks verifiable evidence.
• Content Quality:
• The website lacks detailed information on trading conditions, withdrawal processes, or fees, which is unusual for a legitimate broker.
• Scattered text and exaggerated claims (e.g., being the first to offer online forex trading) indicate unprofessionalism.
• Summary: The website’s content is vague, misleading, and lacks the transparency expected from a regulated broker, further supporting scam allegations.

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9. Regulatory Status ¶

• Claimed Regulation: Regina Forex claims FINTRAC registration (M21068549), but FINTRAC is not a forex regulator; it only oversees money services for transaction reporting.
• Actual Regulation: No evidence of authorization from IIROC, the required regulator for Canadian forex brokers. IIROC requires a minimum capital of CAD 20 million, which Regina Forex has not demonstrated.
• Regulatory Warnings: The FCAA explicitly warned against Regina Forex in 2022, confirming it is not registered to operate in Saskatchewan.
• Summary: Regina Forex is unregulated and misrepresents its regulatory status, a critical red flag for any broker.

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10. User Precautions ¶

To avoid risks associated with Regina Forex or similar brokers, users should:

• Verify Regulation: Check a broker’s regulatory status with reputable authorities like IIROC, FCA (UK), or ASIC (Australia). Use tools like the Canadian Securities Administrators’ National Registration Search (www.aretheyregistered.ca).
• Conduct Due Diligence: Research reviews on impartial platforms like Reddit, BrokersView, or WikiFX. Avoid brokers with consistent scam allegations.
• Avoid Unregulated Brokers: Only trade with brokers licensed by recognized regulators to ensure fund safety and dispute resolution.
• Protect Personal Information: Do not share sensitive data (e.g., bank details) with brokers lacking verifiable credentials.
• Test with Small Amounts: If considering a broker, start with a small deposit and test withdrawals before committing significant funds.
• Report Scams: If scammed, contact your bank immediately to attempt fund recovery, report to authorities like the CFTC (866-366-2382) or FCAA, and warn others online.
• Be Wary of Emotional Tactics: Avoid brokers or individuals using romance scams or high-pressure sales tactics.

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11. Potential Brand Confusion ¶

• Similar Names:
• Regency FX (www.regencyfx.com): A UK-based currency exchange platform regulated by the FCA and HMRC. It is unrelated to Regina Forex but could be confused due to the similar name. Regency FX is transparent about its services and regulatory status, unlike Regina Forex.
• Regeneron (www.regeneron.com): A biotechnology company with no relation to forex. The name similarity could cause confusion, but its entirely different industry (pharmaceuticals) makes this less likely.
• Reginanna.com: A website with a low trust score flagged as potentially fraudulent, but no direct connection to Regina Forex. The name similarity could confuse users searching for Regina Forex.
• Risk of Confusion:
• Scammers often use names resembling legitimate brands to exploit trust. Regina Forex’s name could be mistaken for Regency FX, a regulated entity, leading users to assume legitimacy.
• The lack of a clear brand identity or social media presence for Regina Forex exacerbates the risk of confusion with unrelated entities.
• Summary: Potential confusion with Regency FX is the most significant concern, as both operate in financial services. Users must verify URLs and regulatory status to avoid mistaking Regina Forex for a legitimate broker.

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Conclusion ¶

Regina Forex Limited exhibits numerous characteristics of a scam broker:

• Unregulated: Lacks IIROC authorization and misrepresents FINTRAC registration as regulatory approval.
• High Risk: Complaints of fraud, a non-functional website, and high leverage indicate significant financial risks.
• Red Flags: Inconsistent claims, unverifiable addresses, and emotional manipulation tactics are prevalent.
• No Transparency: The website lacks legal documentation, clear trading conditions, or verifiable contact methods.
• Regulatory Warnings: The FCAA’s 2022 alert confirms its illegitimacy in Canada. Recommendation: Avoid Regina Forex Limited entirely. Traders should prioritize regulated brokers with transparent operations, verifiable licenses, and positive reputations. Always conduct thorough research and verify regulatory status before investing. If you need further analysis or assistance with specific brokers, let me know!