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Are my funds safe with Divine FX?
Yeri Naidu
Libya
2023-06-12
ANSWER Divine FX is an unregulated broker that we advise against trading with despite the seemingly attractive deals it offers.Divine FX presents itself as a licensed forex trading broker registered in St. Vincent and the Grenadines. However, crucial information such as the company's name and registration number is conspicuously absent, raising concerns about this broker's authenticity and reliability. We searched for this broker in the register of the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), but no corresponding records exist. Furthermore, the SVG FSA has explicitly announced that it doesn't issue forex licenses nor does it regulate entities involved in such activities. All these inconsistencies prove that Divine FX is operating outside the regulatory framework.Regarding your question, your funds are not safe with Divine FX since it is an unregulated broker. As there are no rules in place to prevent fraud or theft, dealing with an unregulated broker will expose investors to significant risks including financial losses and identity theft, which could be financially and personally devastating. Therefore, we strongly suggest investors stay away from unregulated brokers like Divine FX and choose fully regulated ones to avoid such risks.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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