I’m looking for some information about Opofinance, specifically around whether they are a legit trading company. They say they are regulated on their website but I can’t find much information about them online. Can I trust them?

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[James BarraModerator DayTrading.com Team]

Hi Carla,

We’ve evaluated Opofinance and recommend caution. It’s registered offshore with the Financial Services Authority (FSA) of Seychelles. This is a ‘red tier’ regulator in line with our Regulation & Trust rating and means you may not get robust regulatory protections.

It’s also not well known compared to large, trusted brokers that have millions of clients globally, which is a significant drawback in our view.

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[Carla D]

Ok thanks. It does say on their website they are members of the financial commission and give up to 20,000 euros in insurance per investor. Is that not the kind of safety system top tier regulators use?

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