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Can we trust Comovest?
Vitaliy Dubiv
Nigeria
2023-08-11
ANSWER Investors are strongly advised against putting their trust in Comovest, a fraudulent platform warned by three authorities.Comovest claims to be one of the largest CFD Trading brands around while presenting no details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag.Besides, Comovest shows its company address is in the United Kingdom. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK Financial Conduct Authority (FCA). However, we did not find any match results for this broker in FCA.What's more, the British Columbia Securities Commission (BCSC), the Belgian Financial Services and Markets Authority (FSMA), and the Ontario Securities Commission (OSC) have issued warnings against or added Comovest to their warning list for it operating illegally. You can read the BCSC warning, the FSMA warning, and the OSC warning.In essence, it is highly risky when dealing with Comovest. It comes with significant risks, such as financial losses and identity theft, which could be financially and personally devastating. Therefore, we strongly suggest investors steer clear of unlicensed brokers like Comovest and instead choose a fully regulated one.
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