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What license does 121Coinx hold?
Marcin Marlikowski
Kyrgyzstan
2023-06-13
ANSWER 121Coinx is an unregulated broker that we advise against trading with despite the seemingly attractive deals it offers.121Coinx claims to be the trading name of OS Markets LLC, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under registration number 134LLC2019. While our search in the SVG FSA register did locate corresponding records for the company, it is crucial to be aware that the SVG FSA has explicitly stated that it neither issues forex licenses nor regulates entities involved in such activities. As such, 121Coinx remains unsupervised by the relevant regulatory body.Regarding your question, although 121Coinx holds a license issued by the SVG FSA, it still operates outside the regulatory framework. Investors are exposed to significant risks including financial losses and identity theft if dealing with this trading platform, as there are no rules in place to safeguard them. Therefore, we strongly suggest investors stay away from unregulated brokers like 121Coinx and choose a fully regulated one.
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