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BOGS Markets

Operating status: SCAM

Website: http://www.bogs.market/index.php/

Broker violations and abnormal records
  • May 16, 2022 BrokersView has reviewed that BOGS Markets is an unregulated forex broker

    BOGS Markets claims to be an authorized broker under double supervision, including the United States NFA regulation (ID: 0523413) and Canada MSB authoritative supervision (ID: M19911333). However, Canada MSB license is approved by the Canada Fintrac which doesn't regulate forex markets nor issue licenses for brokers engaging in such activities. So please beware of brokers claiming their MSB regulation by Fintrac, since they are actually unlicensed.

    Besides, we indeed found a result matching this broker in NFA's registry, however, BOGS Markets is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, BOGS Markets doesn't satisfy these conditions. That means, this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.

    BOGS Markets claims to be an authorized broker under double supervision, including the United States NFA regulation (ID: 0523413) and Canada MSB authoritative supervision (ID: M19911333). However, Canada MSB license is approved by the Canada Fintrac which doesn't regulate forex markets nor issue licenses for brokers engaging in such activities. So please beware of brokers claiming their MSB regulation by Fintrac, since they are actually unlicensed.Besides, we indeed found a result matching this broker in NFA's registry, however, BOGS Markets is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, BOGS Markets doesn't satisfy these conditions. That means, this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is a scam.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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