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Do I need to deposit a demo account on MEXO Finance?
Allen Chen
Eritrea
2023-10-16
ANSWER No, we strongly suggest you do not have any dealing with MEXO Finance. It is an unlicensed broker that carries significant risks.MEXO Finance, as per its website, purports to be under the regulation of the Financial Crimes Enforcement Network (FinCEN) with a registration number of 31000234126807. However, it's important to note that the primary role of FinCEN is to protect the financial system from illicit activities, combat money laundering, and related crimes including terrorism. So, while FinCEN plays a crucial role in tracking suspicious financial activities, it does not have direct authority over forex trading.Upon further investigation, it has been found that MEXO Finance is not under the supervision of any regulatory bodies. Although it claims to be headquartered in the UK, there are no indications that it is registered with the Financial Conduct Authority (FCA), the official regulator of financial services in this country.Given these facts, it is reasonable to conclude that MEXO Finance may not be a legitimate operation. It's always recommended to exercise caution and conduct thorough research before investing. If MEXO Finance were to manage or possess investors' funds, there would be no legal safeguards in place to protect these investments. To mitigate the risks of fraud and identity theft, it is advisable to choose a reputable, fully regulated broker instead.
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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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