ANSWER We strongly advise against engaging with Capital MGM, a broker that currently operates without a license.The broker's claims of being regulated in Hong Kong SAR and Cyprus are not backed by specific details, casting a shadow of doubt over their credibility. Our subsequent investigation indicates that these claims are unfounded, as there are no corresponding records from the relevant financial regulators to substantiate them. Adding to the concerns, this broker, which purports to be based in the UK, has been flagged by the Financial Conduct Authority (FCA) for offering financial services in the country without the necessary authorization. This has led to a warning being issued by the FCA.In light of these findings, it is prudent for investors to steer clear of Capital MGM to avoid becoming victims of potential fraudulent activities. For the security of your funds, we recommend choosing fully regulated brokers over unregulated ones like Capital MGM.
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