ANSWER Aly Financial is not a licensed or regulated broker even though it states offers that look good to be true. Aly Financial claims to be a reliable broker without presenting any information about its regulation. Lacking regulatory information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag. In addition, the broker also claims to be located in Hongkong. So we searched the Securities And Futures Commission (SFC) of Hongkong but only found a warning against this broker. SFC issued a warning that Aly Financial was an unlicensed company. You can check the full warning from here.The truth is, Aly Financial is no longer under valid regulation by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Aly Financial and trade with licensed brokers.
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