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Is scalping allowed in TRADECMF?
ashok nagvenkar
Liechtenstein
2023-10-31
ANSWER We strongly suggest you avoid TRADECMF, despite the seemingly attractive deals it offers. It is an unlicensed platform that poses significant risks to investors.TRADECMF purports to be managed by CMF Group LTD, a firm registered with the Marshall Islands Registry (IRI) under the number 92240. However, our investigation into the forex broker's presence in the IRI register found no corresponding entries, indicating that its claim of registration is false. Furthermore, even if it were registered, it would still lack a license, as the IRI only serves as a privately owned maritime and corporate registry service provider and does not have jurisdiction over financial markets.It's worth noting that the Comisión Nacional del Mercado de Valores (CNMV) has included TRADECMF on its alert list for offering investment services without proper authorization.In summary, TRADECMF is not overseen by any regulatory body. Investing with this broker poses a substantial risks due to the absence of legal protections to secure investors' funds. Therefore, to mitigate these risks, it is advisable to stay away from unlicensed platforms like TRADECMF and opt for fully regulated ones instead.
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