Forex Trend broker had some serious issues lately. First it loses its regulation in New Zealand and then gets blacklisted in Russia. The registration was lost due to various complaints from the users about withdrawal issues.
Despite its misfortune, the broker is nowhere close to leave the forex industry and seems to lean towards rebranding.
The first thing we noticed was the announcement posted on the Forex Trend broker’s website, at the moment only in Russian language, suggesting the clients to fill in the application to transfer their funds to a new broker FT2 until August 15th, which makes us think that the new name of the broker is now Forex Trend 2.
Forex traders surely raise eyebrows at such blunt attempt to stay afloat, despite the obvious very negative regulation in New Zealand, Eastern Europe and Russia. Let’s also not forget that Financial Market Authority has issued a warning against the broker early last month.
Even in Russia, the self-regulatory organization CRFIN has banned the broker and it seems that the broker has lost its reputation once and for all.
Instead of maybe rebranding the broker quietly and rethinking its methods and strategies, Forex Trend seem to think that changing only the name will bring the company back to life. Stay alert and don’t let it fool you.