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Is Master Door FX regulated in Australia?
Praveen Kumar Sahoo
San Marino
2023-08-01
ANSWER Master Door FX is an offshore company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) and supposedly located in the US yet not supervised by the National Futures Association (NFA). It is an unlicensed broker and thus not regulated in Australia.While we are able to locate a firm called Master Door Fx in the SVG FSA register, it is crucial to note that the offshore financial watchdog has explicitly stated that entities engaging in forex trading and brokerage are not licensed from this jurisdiction. As such, the investment services/products offered by Master Door Fx are unlicensed.Additionally, Master Door Fx provides an address in the US to appear real. As per US law, if it seeks to launch a business in this country, it is required to be regulated by the NFA and the Commodity Futures Trading Commission (CFTC). So it has to be an NFA-member at first. However, we searched for this company in the NFA register but no records matching it exist.More importantly, to check its licensing data in Australia, we searched the Australian Securities and Investments Commission (ASIC) for Master Door FX. However, we have been unable to find corresponding data, suggesting that it is not regulated in Australia.In conclusion, Master Door Fx is an unlicensed broker that comes with significant risks, such as financial losses and identity theft, as there isn't any regulatory oversight to protect investors from fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like Master Door Fx and instead choose a fully regulated one.
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