Covey FX Review : Fees, Pros and Cons, Reviews by Real Traders

Covey FX

Operating status: SCAM

Website: https://www.covey-fx.com

Broker violations and abnormal records

Jul 13, 2022 The Singapore MAS Added Covey Fx into its Alert List
On 14 July 2022, the Monetary Authority of Singapore (MAS) added Covey Fx into its alert list, warning public that Covey Fx is not authorized to provide financial services in Singapore. You may visit: https://www.mas.gov.sg/IAL.aspx

On 14 July 2022, the Monetary Authority of Singapore (MAS) added Covey Fx into its alert list, warning public that Covey Fx is not authorized to provide financial services in Singapore. You may visit: https://www.mas.gov.sg/IAL.aspx
Jul 14, 2022 BrokersView has Reviewed that Covey Fx is an Unregulated Forex Broker
Covey Fx claims to be a regulated broker without presenting any information about its regulation. The lack of such important information may be a distinct signal of unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag.
Covey Fx claims that they have two offices in Singapore and Hongkong. As per relevant laws, all firms and individuals offering, promoting, or selling financial services or products in Singapore or Hongkong shall be authorized by the Monetary Authority of Singapore (MAS) or the Hongkong Securities and Futures Commission (SFC).
We firstly searched SFC and found no matching result. Then we searched MAS and found a warning. MAS added Covey Fx into its alert list, warning public that Covey Fx is not authorized to provide financial services in Singapore.
The truth is Covey Fx is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.

Covey Fx claims to be a regulated broker without presenting any information about its regulation. The lack of such important information may be a distinct signal of unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag. Covey Fx claims that they have two offices in Singapore and Hongkong. As per relevant laws, all firms and individuals offering, promoting, or selling financial services or products in Singapore or Hongkong shall be authorized by the Monetary Authority of Singapore (MAS) or the Hongkong Securities and Futures Commission (SFC).We firstly searched SFC and found no matching result. Then we searched MAS and found a warning. MAS added Covey Fx into its alert list, warning public that Covey Fx is not authorized to provide financial services in Singapore.The truth is Covey Fx is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
Nov 22, 2022 BrokersView has found that Covey Fx is not working
BrokersView found the domain "https://www.covey-fx.com" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

BrokersView found the domain "https://www.covey-fx.com" is not working, as most probably it was suspended and it is always a bad sign when broker's website is suspended.

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