Brief Trader Review

About Brief Trader

Brief Trader’s website states that it offers CFD trading on forex, indices, cryptocurrencies, shares, commodities, and metals, with access through WebTrader, a mobile app, and MetaTrader 4. The site also displays the company number 991571531, registration number 6582732, and an address in Drøbak, Norway.

The website claims that the business is operated by Brieftrader and identifies GQ Capital Inc. as an entity regulated by the Belize International Financial Services Commission under licence number 000320/189. However, the Belize Financial Services Commission issued Non-Renewal of Licence notice FSC/2/NR/004, stating that GQ Capital Inc. was no longer licensed from June 3, 2022 and was no longer authorised to provide international financial services from Belize.

The UK Financial Conduct Authority listed Brief Trader and https://www.brieftrader.com as an unauthorised firm in a warning first published on October 11, 2023. The FCA stated that the firm was not authorised by the FCA and might be targeting people in the UK; customers dealing with it would not have access to the Financial Ombudsman Service or Financial Services Compensation Scheme protection.

Pros and cons

Pros

• The website lists multiple CFD market categories, including forex, indices, cryptocurrencies, shares, commodities, and metals.
• The website lists WebTrader, a mobile app, and MetaTrader 4 as available platforms.

Cons

• The FCA identifies Brief Trader as an unauthorised firm.
• The Belize regulator states that GQ Capital Inc.’s licence was not renewed from June 3, 2022, despite the website displaying licence number 000320/189.
• The FCA states that dealings with the firm do not provide access to UK Financial Ombudsman Service or FSCS protection.