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What's the leverage Vytex offer?
Marco Bennaiche
New Zealand
2023-11-16
ANSWER Given its unlicensed status, we strongly suggest you avoid Vytex.Vytex purports to be a US-based forex broker with a supposed license from the "Financial Corporation & Authority". However, no such agency exists in the US.According to US law, forex brokers must be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), necessitating registration as an NFA member. A search for Vytex in the NFA registry yielded no results, indicating that it operates outside the regulatory framework in this country.In short, there appears to be no evidence supporting Vytex's legitimacy in forex trading. Therefore, investing funds with this broker carries a high risk due to the absence of legal protections to secure the funds. We advise investors to choose fully regulated brokers to avoid falling victim to potential fraud and identity theft.
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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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