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Can I deposit on MYMA FX?
Ilia Foo
Sudan
2023-11-02
ANSWER No, we strongly advise against engaging with MYMA FX.MYMA FX purports to be a subsidiary of StoneX Group Inc., a licensed entity that operates renowned FX brands. However, our probe has established that there is no affiliation between the legitimate StoneX Group Inc. and MYMA FX. It appears that MYMA FX is deceiving unsuspecting investors.MYMA FX asserts to have branches in the UK and India. Nevertheless, our examination of the UK's Financial Conduct Authority (FCA) register yielded no corresponding entries. In India, there is no existing authority tasked with licensing or overseeing foreign exchange trading operations.Despite MYMA FX's assertion of possessing over five years of experience, the domain ("mymafxfp.com") was initially registered in November 2021. This inconsistency further erodes the platform's reliability.In summary, MYMA FX lacks regulation from any supervisory authority. Entrusting this broker with investors' capital is extremely risky due to the absence of legal safeguards to protect the funds. To mitigate substantial risks of fraud and identity theft during your trading journey, it is advisable to choose fully regulated brokers.
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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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