ANSWER We strongly advise against trading with Cryptoburst, an unregulated forex broker.Despite the claim of being located in the US, Cryptoburst fails to adhere to pertinent regulations. There are no indications that it is registered as member of the National Futures Association (NFA). What's more, the broker's assertion of being authorized by the Securities Commission of the Bahamas (SCB) has been refuted by the SCB itself. The SCB has added Cryptoburst to its warning list, flagging it as an unauthorized entity.Therefore, Cryptoburst poses substantial risk of fraud and identity theft. Investors dealing with this unregulated broker run risk of losing their funds. To have a safer trading environment, it is strongly advised to steer clear of unregulated brokers like Cryptoburst and instead choose fully regulated ones.
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