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Can I hedge positions by opening a new order on friday evening?
Alfred Lai
Senegal
2023-08-09
ANSWER Even if Market Radar is able to offer such service, we strongly suggest you avoid this platform. It is an unlicensed broker and has been warned by a financial regulator for unlicensed activities.Market Radar claims to be operated by RADAR FINANCIAL INVESTMENTS CORPORATION, a regulated member of the Financial Industry Regulatory Authority (FINRA) with CRD# 314823. While it is true that corresponding entries exist in the FINRA registry, it is crucial to note that Market Radar, as a broker offering trading in cryptocurrency, forex and CFDs via their website, is required to be authorized by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Mere registration with the FINRA doesn't mean that it is legal to provide services or products in the Forex and derivatives markets. However, no records matching RADAR FINANCIAL INVESTMENTS CORPORATION exist in either the CFTC register or the NFA register. As such, Market Radar is operating outside the regulatory framework.In addition, the New Zealand Financial Market Authority (FMA) has issued a warning against Market Radar for operating in the absence of proper authorization.In conclusion, Market Radar doesn't comply with relevant rules and regulations and thus its offerings of trading services are illegal. Investors dealing with it are exposed to fraud or identity theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like Market Radar and instead choose a fully regulated one.
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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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