Forexware claims to be a trustable broker while presenting no details of its regulation. Lacking regulation information is a distinctive characteristic of unlicensed brokers, as legit brokers always display their certificates and licenses in a prominent place.

Besides, Forexware shows its office address is in the United States. So we did searching in the US National Futures Association (NFA). However, we did not find any match results to Forexware in NFA. That means Forexware is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.