Compass

TradeTimeAllWasted

1-2 years

What are the pros of using Compass as a broker?

WikiFX Reply

Compass broker offers specialized services for agribusinesses, particularly those involved in cattle farming. This could be highly valuable for those in the agricultural sector seeking specific hedging and risk management solutions. The company also offers multiple customer support channels and has been operating for several years, which could suggest some level of experience in the field. However, the unverified regulatory status and lack of transparency about fees remain major concerns.

Broker Issues

Compass

Regulation

06-18

United States

qirhost

1-2 years

What are the main risks associated with Compass trading?

WikiFX Reply

The main risks of using Compass for trading stem from its unverified NFA license and lack of clear operational transparency. Without proper regulation, there is no guarantee that Compass follows the required industry standards for financial services. In addition, the absence of a detailed fee structure and platform information raises questions about the costs and reliability of its services. Based on these factors, I believe the risks outweigh the potential benefits, and it would be better to choose a more secure, regulated broker.

Broker Issues

Compass

Regulation

06-15

United States

WoodCrusher

1-2 years

Is Compass regulated by a reputable authority?

WikiFX Reply

Compass is registered in the United States and claims to hold an NFA license, but this license is unverified. The NFA (National Futures Association) is a respected regulatory body for the futures and commodities markets in the U.S., but an unverified status means that the platform has not been formally confirmed to meet the full regulatory requirements. This raises serious concerns about the platform’s legitimacy and its ability to safeguard investor funds. As an investor, it's crucial to trade with brokers who are fully regulated to ensure your funds are protected under the relevant laws. Without verification, I would hesitate to trust Compass with my investments.

Broker Issues

Compass

Regulation

06-06

United States

Karoline Hardy

1-2 years

Is Compass a reliable platform for hedging?

WikiFX Reply

While Compass offers hedging services tailored to agribusinesses, its unverified regulatory status makes it difficult to deem the platform entirely reliable. Although the company has been operating since 2012 and provides specialized services, the lack of a fully verified NFA license means that there are no guarantees about the platform’s operations or its commitment to customer protection. If you're looking for a reliable and secure platform for hedging, I would suggest opting for one with verified regulation and clear, transparent policies.

Broker Issues

Compass

Instruments

Leverage

Account

Platform

05-30

United States