The Official Website Of BOGS Markets Cannot Be Accessed Normally At Present. The Company Seems To Have Closed Down. Therefore, We Can Only Collect Some Relevant Information For Reference Only.
2022-05-17 We Have Confirmed After Review That BOGS Markets Is An Unregulated Foreign Exchange Dealer
BOGS Markets Claims To Be A Licensed Dealer Subject To Dual Regulation, Including The Supervision Of The US NFA (ID: 0523413) And The Authoritative Supervision Of The Canadian MSB (ID: M19911333). Although The Canadian MSB Operating License Is Approved By The Canadian Fintrac, The Agency Does Not Regulate The Foreign Exchange Market And Does Not Issue Operating Licenses For Dealers Engaged In Such Activities. Therefore, Please Pay Attention To Those Brokers Who Claim To Be Regulated By Fintrac, As They Are Actually Not Licensed To Operate.
Also, We Did Find Results Matching This Broker In The Registration Register Of The NFA, However, BOGS Markets Is Not A Registered Member Of This Regulatory Body And Is Not Effectively Regulated By The NFA. As A Forex Trader, You Must Keep In Mind That If A Broker Claims To Be Qualified To Solicit US Clients For Forex Trading, Then They Must: 1) Be A Registered Member Of An NFA-accredited Forex Dealer; And 2) Be Recognized As A "Retail Forex Dealer". Obviously, BOGS Markets Does Not Meet These Conditions. This Means That The Broker Is Only A Registered Company, Not A Regulated Company, And Has No Authority To Provide Financial Services. This Is A Fake Trader.
Due To The Inability To Access The Broker's Website Now, We Are Also Unable To Obtain More Direct Details About Its Trading Assets, Leverage, Spreads, Trading Platform, Minimum Deposit, Etc.
As For Regulation, It Has Been Verified That BOGS Markets Does Not Currently Have Any Valid Licenses.
But Most Non-compliant Brokers Will Not Disclose To Provide Other More Direct And Truthful Contact Information, Such As Phone Numbers Or Company Addresses.
Note: BOGS Markets As A, Unregulated Broker, Which Means That Clients' Investments May Not Be Adequately Protected. Due To The Lack Of A Regulator To Hold Companies Accountable, The Lack Of Regulation Increases The Risk Of Potential Financial Losses.
If You Invest In An Unregulated Broker, There Is A Good Chance That They Will Run Away With Your Hard-earned Money Without Any Recourse. Therefore, Investors Must Be Extremely Cautious And Remind Everyone To Stay Away From These Unregulated As Much As Possible When Choosing A Broker.
