On April 12, 2023, the Financial Conduct Authority (FCA) issued a warning against Opextrade, believing this broker might be providing financial services or products in the UK without authorization: https://www.fca.org.uk/news/warnings/opextrade

Opextrade claims to be operated by Opextrade Limited headquartered in the UK. It displays an image of a certificate of incorporation from the Companies House (CH) on its website to show its legitimacy. But one must keep in mind that having registration doesn't necessarily mean this broker is authorized to offer financial services or products. After all, the CH is only a registrar of companies responsible for incorporating and dissolving companies and has no legal authority to issue forex licenses or regulate forex markets. Additionally, we searched this broker in the registry of the CH and found no records matching it. This is a red flag that Opextrade is using false information to deceive unsuspecting invstors. Moreover, the UK financial regulator, Financial Conduct Authority (FCA), has issued a warning against Opextrade, stating that it is illegally providing financial products or services without proper authorization.

In essence, Opextrade is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.