ANSWER No, BKS Fintech should not be trusted due to its regulatory status.The broker purports to be registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), hold the AR license from the Australian Securities and Investments Commission (ASIC), and be a licensed broker under the National Futures Association (NFA). However, the truth is different. The AR license from the ASIC has been revoked and the claimed NFA ID is merely for tracking purposes. BKS Fintech is not an NFA member. The potentially valid registration is its SVG FSA registration, but the SVG FSA does not license forex trading brokerage activities. Essentially, BKS Fintech operates in an unregulated environment.Given this, BKS Fintech presents additional risks to investors. Traders dealing with it face the risk of losing their funds due to the absence of regulatory supervision. Therefore, we strongly advise investors to avoid BKS Fintech and instead opt for fully regulated brokers.
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