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Tell me something about LiteGraphs' regulation plz.
Bree Rodionov
Greenland
2023-12-02
ANSWER LiteGraphs appears to be operating without the necessary authorization, rendering its services unlicensed and unregulated. We strongly advise investors to steer clear of this unregulated trading platform.The lack of regulatory information from LiteGraphs suggests that they may have failed to obtain the necessary authorization. Despite claiming to be based in Belgium, a search in the Financial Services and Markets Authority (FSMA) register yielded no corresponding results.Investors should also note that the FSMA implemented a ban on the distribution of over-the-counter (OTC) derivatives, including Forex, CFDs, and Binary options to Belgian retail clients from 18 August 2016. This ban should be taken into account when selecting a Belgian Forex broker.In conclusion, trading with LiteGraphs could potentially lead to fraud and identity theft. We advise investors to avoid it and other unlicensed brokers. Opting for a fully regulated broker can help mitigate trading risks.
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