ANSWER Coiken is a non-regulated broker we advise against trading with, despite the seemingly attractive deals it offers.Coiken claims to be owned and operated by OS Markets LLC, registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under license number 134LLC2019. While we did find matching records in the SVG FSA registry, traders must bear in mind that the SVG FSA neither issues forex licenses nor regulates entities engaging in such activities. As such, having an SVG FSA registration doesn't mean being authorized and regulated to legally offer investment products or services.Regarding your question, we suggest you avoid dealing with Coiken since it is not supervised by any regulatory body. Using such a non-regulated broker could put you at risk. For example, you may suffer financial losses or identity theft as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest investors stay away from unregulated brokers like Coiken and opt for fully regulated ones instead.
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