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Is FusionLots trustworthy?
Justin Taylor
Bermuda
2024-07-15
ANSWER No, FusionLots is untrustworthy.FusionLots claims to be a broker with offices in the UK, Austria, and Singapore, but it lacks detailed financial service licenses and other certifications, suggesting potential non-compliance with pertinent regulations. It is critical to note that a company offering financial services must be licensed in the country where it operates. Our investigation suggests that it is not subject to the relevant jurisdictions.Additionally, the Comisión Nacional del Mercado de Valores (CNMV) has added FusionLots to its warning list for providing investment services without authorization. Similarly, the Netherlands Authority for the Financial Markets (AFM) aslo flagged FusionLots as a boiler room.Operating in an unregulated environment, FusionLots is risky. To mitigate the risk of fraud and identity theft, investors should stay away from unregulated brokers like FusionLots and instead opt for fully regulated ones.
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